Housing Wire

SEPTEMBER 11, 2023

The New York-based independent bank exceeded its 2022 production volume of $400 million in August, but the end goal is far more ambitious: The company is aiming to produce between $3 billion to $5 billion in origination volume annually. Target buyers for Cliffco include non-traditional buyers seeking investor loans.

Loan Officers 392

Loan Officers Agents Retail Technology 392

Housing Wire

MARCH 23, 2023

Median mortgage payment for conventional loan applicants was $2,117, up from $2,009 in January and from $1,750 in February 2022. While high interest rates and home prices drove up mortgage payments and application payments, loan officers are seeing bidding wars due to a lack of inventory issues. in 2024 and 4.4%

Mortgage 384

Mortgage Loan Officers Inventory Buyers 384

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. The closer, the better.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

JULY 18, 2023

Since signing on to The Agency in mid-July, she has already brought $5 million in existing home inventory online and $8 million in builder listings to the firm. In 2022, he recorded a sales volume of $30 million. Whitfield is the founding principal of the Whitfield Property Group and he recorded $33 million in sales volume in 2022.

Agents 370

Agents Loan Officers Brokerage Clients 370

Housing Wire

JULY 20, 2023

The mortgage industry continues to rightsize , and On Q Financial is taking it as an opportunity to expand through loan officer recruitment and tapping into its network of homebuilders. Following one major layoff and furlough in 2022, the Arizona-based lender eliminated costs and is positioned to grow revenue, executives said.

Loan Officers 276

Loan Officers Brokerage Real Estate Lending 276

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgage 382

Mortgage Loan Officers Inventory Retail 382

Housing Wire

APRIL 26, 2023

Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. The bottom for 2022 was 240,194.

Mortgage 393

Mortgage Loan Officers New Listings Government 393

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Lower loan-to-value, so I do have some good rates, but that’s going to be for more affluent people.

Marketing 370

Marketing Mortgage Inventory Loan Officers 370

Housing Wire

FEBRUARY 15, 2023

Steinway is the sole loan officer in his branch and is supported by the rest of his five team members, who primarily focus on marketing its realtor relationships. Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023.

Mortgage 368

Mortgage Loan Officers Lending Retail 368

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. When will the market turn?

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

FEBRUARY 27, 2023

Insellerate said it created the solution to drive origination volumes in the face of a “constantly changing mortgage market” that is riddled with rising interest rates and low inventory. The new product is fully integrated into loan origination systems, like ICE Technology’s Encompass and MeridianLink.

Loan Officers 379

Loan Officers Retail Inventory Lending 379

Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. We feel like we picked up more market share in 2022,” Kechian said. in the fourth quarter of 2022. Kechian: In 2022, it was almost 90% purchase mortgages.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

DECEMBER 3, 2021

While borrowers can shop online these days and follow an automated experience, it doesn’t equate to working with a seasoned professional loan officer and learning what to expect first-hand. HousingWire: What do you think will be t he big themes for the housing market in 2022? The rental pool is also escalating in costs.

Inventory 382

Inventory Loan Officers Clients Mortgage 382

Housing Wire

AUGUST 28, 2023

Since December 2022, Guild has closed deals with Inlanta Mortgage , Legacy Mortgage and Cherry Creek Mortgage. The company had 227 active loan officers and originated $830 million in the last 12 months. The terms of the deal were not disclosed.

Mortgage 369

Mortgage Retail Loan Officers Construction 369

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business.

Loan Officers 393

Loan Officers Real Estate Agent Real Estate Finance 393

Housing Wire

SEPTEMBER 7, 2023

That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. Loan officers may increasingly place more importance on reaching consumers directly especially when a buyer takes initiative in the homebuying process rather than relying on agents. “If

Buyers 393

Buyers Agents Loan Officers Real Estate 393

Housing Wire

SEPTEMBER 22, 2022

Where ‘inventory’ was the big concern in 2021 and early 2022, the concern today is ‘affordability,’ with the combination of substantial price increases and rising rates simply pricing more and more Americans out of the market,” Green said. According to the NAR, there were 1.28

Mortgage 414

Mortgage Loan Officers Buyers Inventory 414

Housing Wire

FEBRUARY 7, 2023

The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. Tozer suggested “a fee of 1.3%

Mortgage 381

Mortgage Loan Officers Government Buyers 381

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2

Business 402

Business Loan Officers Clients Inventory 402

Housing Wire

APRIL 4, 2022

Founded in 2008, Movement Mortgage focuses on providing loans quickly and easily to homebuyers, with a network of loan officers in more than 775 locations nationwide, and more than 4,500 employees, the company’s website shows. Movement did not respond to multiple requests for comment. Sound familiar?

Mortgage 442

Mortgage Supply Chain Retail Loan Officers 442

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. trillion in new loans in 2020 and $3.9 trillion in 2022 and $2.3

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

AUGUST 3, 2023

The second quarter production represents a 35% drop compared to the same period in 2022. billion in sold loans through its direct-to-consumer channel and $9.6 HousingWire recently published a deep-dive feature on whether Rocket’s accelerated efforts of hiring local loan officers represented a shift in the lender’s strategy. “As

Clients 359

Clients Business Inventory Mortgage 359

Appraisal Buzz

OCTOBER 3, 2022

According to their public website, in June 2022, the supply of existing homes for sale would last 3 months. I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers.

Appraisal 370

Appraisal Marketing Real Estate Inventory 370

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Lending 420

Lending Tools Inventory Renovations 420

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based In 2022, only 7.6% of purchase loans that Fannie Mae closed were above 95% LTV, according to the Urban Institute.

Loan Officers 368

Loan Officers Insurance Mortgage Real Estate Agent 368

Housing Wire

JUNE 2, 2023

The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? I think 2022 and 2023 are equally tough years.

Retail 369

Retail Inventory Mortgage Loan Officers 369

Housing Wire

MAY 3, 2023

Unlike loan officers, whose commissions are highly regulated by the government, real estate agent commissions are based largely on long-standing industry practices and market forces. She made clear in our first conversation that the commission would only drop to 5% if she also found the buyer.

Agents 404

Agents Real Estate Agent Brokerage Real Estate 404

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Mortgage rates are now at their lowest level since September 2022, and are about a percentage point below the peak mortgage rate last fall, according to the Mortgage Bankers Association.

Housing Market 440

Housing Market Marketing Insurance Mortgage 440

Housing Wire

APRIL 20, 2021

More recently, the buzz surrounds bidding wars due to extremely low inventory, purchase over refinance and the fluctuation of mortgage rates. Once again, Google grabbed headlines in March 2021 when they emphasized that the code would cease to exist across its platforms by 2022. Needless to say, the digital world took notice.

Real Estate 404

Real Estate Mortgage Loan Officers Advertising 404

Housing Wire

APRIL 18, 2023

As rates increased in 2022, the California lender laid off nearly 1,000 staff to cut costs and meet shrinking demand in the industry. When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. We literally did it from scratch [in March, April 2022].

Retail 354

Retail Business Agents Loan Officers 354

Housing Wire

MARCH 2, 2023

I feel like we have some people sitting on the fence again,” said one loan officer in the Portland, Oregon market. “I While prices are down from their summer peaks and price growth has declined significantly, the median home price nationally is slightly higher than it was at the beginning of 2022.

Mortgage 433

Mortgage Buyers Loan Officers Marketing 433

Housing Wire

DECEMBER 10, 2021

Josh Mettle: (1) Housing will continue to appreciate (albeit at a slower pace) until the supply of housing reaches balanced inventory levels. HousingWire: What do you think will be the big themes for the housing market in 2022? HousingWire: What are 2-3 trends that you’re closely following?

Loan Officers 378

Loan Officers Housing Market Mortgage Tools 378

Housing Wire

SEPTEMBER 30, 2022

Another 125 basis points in hikes are still to come in 2022, with a federal funds rate topping out well above 4%. There is more inventory relative to demand, and deals can be found. Consequently, the Federal Reserve increased the federal funds rate by 75 basis points at its Federal Open Market Committee (FOMC) meeting in September.

Buyers 450

Buyers Mortgage Loan Officers Retail 450

Housing Wire

JANUARY 25, 2022

As we move forward into 2022, I believe cash will truly be king in the mortgage industry. This includes how much cash is used to fund new loans, cycle time on loans in inventory, and how fast you’re selling loans. But how that cash was conserved will dictate a company’s long-term viability.

Mortgage 367

Mortgage Inventory Business Loan Officers 367

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. through the rest of 2022. I think it’s already priced in the market.”.

Housing Market 302

Housing Market Marketing Loan Officers Buyers 302

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year.

Renovations 403

Renovations Realtors Construction Mortgage 403

Housing Wire

MAY 25, 2022

There’s no question that 2022 has seen serious changes to the housing market. Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. Smart Series by Newrez.

Lending 391

Lending Investing Loan Officers Design 391