Housing Wire

MARCH 14, 2023

Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. ” While at Guaranteed Rate, Patel and his team closed more than 250 loans in 2022 and increased the purchase volume by 20% from 2021. “I’m

Loan Officers 370

Loan Officers Retail Brokerage Lending 370

Housing Wire

NOVEMBER 14, 2022

Demand from investors is still solid, albeit more guarded. TH: Despite a turbulent end to 2022, I feel strongly that the 2023 outlook for non-QM is quite promising. Self-employed borrowers, real estate investors and credit-worthy borrowers who have recovered from credit issues will always be in the market.

Lending 420

Lending Investors Loan Officers Technology 420

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 395

Loan Officers Investors Mortgage Clients 395

Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation. After posting production volume of $148.76

Retail 383

Retail Mortgage Loan Officers Lending 383

Housing Wire

JUNE 22, 2023

It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. The lender maintained their servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. LOs at the lender receive 150 to 165 bps per loan depending on the arena, Bowlby said.

Loan Officers 369

Loan Officers Mortgage Real Estate Agent Business 369

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 395

Loan Officers Agents Retail Technology 395

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending.

Mortgage 370

Mortgage Loan Officers Lending Retail 370

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. Meanwhile, with competitive pricing, United Wholesale Mortgage (UWM) reached an estimated 54% market share at the end of 2022. billion in 2022, with 50% through wholesale. “Wholesale is growing. in 2014. .”

Retail 370

Retail Loan Officers Landlords Lending 370

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Loan Officers 462

Loan Officers Lending Real Estate Brokerage 462

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. trillion in 2022.

Lending 397

Lending Loan Officers Real Estate Mortgage 397

Housing Wire

FEBRUARY 13, 2023

The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022. The counterclaim is a response to a lawsuit filed by JIM in December 2022. The company has 13 branches with 50 active loan officers, the data shows.

Legal 356

Legal Contracts Lending Loan Officers 356

Housing Wire

AUGUST 1, 2023

Coming off multiple quarters of financial losses , Rocket has accelerated those efforts in 2023, embarking on a remote local loan officer hiring spree designed to capture purchase market business from real estate agent connections, sources told HousingWire.

Loan Officers 370

Loan Officers Retail Real Estate Agent Real Estate 370

Housing Wire

JANUARY 19, 2023

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The mystery as to what happened to its loan pipeline and funding endure. Shocked employees didn’t receive their last paychecks. Strauss settled with the SEC, agreeing to pay $2.45

Mortgage 395

Mortgage Investors Legal Loan Officers 395

Housing Wire

JANUARY 5, 2023

Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders. Typically, the company does not hold such loans for more than two weeks, instead selling them to a group of investors – including Sprout Mortgage.

Insurance 427

Insurance Loan Officers Mortgage Business 427

Housing Wire

NOVEMBER 23, 2022

While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week. “In

Marketing 382

Marketing Loan Officers Business Mortgage 382

Housing Wire

NOVEMBER 10, 2022

The transaction follows Angel Oak Home Loans slashing 15% of its workforce, or 57 employees, in October. billion in volume in the last 12 months through 156 active loan officers and 39 branches, according to mortgage data platform Modex. Of the total volume, conventional loans accounted for 85.7% The lender originated $2.32

Retail 304

Retail Loan Officers Investors Lending 304

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Housing Market 417

Housing Market Marketing Contracts Finance 417

Housing Wire

NOVEMBER 23, 2021

will lay off 77 employees in its Charlotte, North Carolina office come January 2022, a Worker Adjustment and Retraining Notification Act (WARN) notice filed by the company reveals. Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators.

Mortgage 383

Mortgage Loan Officers Retail Technology 383

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. of the balance of a loan being assumed would be fair to both the borrower and the servicer.” Tozer suggested “a fee of 1.3%

Mortgage 383

Mortgage Loan Officers Government Buyers 383

Housing Wire

AUGUST 25, 2023

The Arizona-based lender relaunched its forward mortgage origination business in June after ceasing it in December 2022 against the backdrop of rising interest rates. In 2022, AmeriFirst closed $2.5 billion in loan origination, data from Modex showed. The Arizona lender logged a production volume of $3.6

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. According to Black Knight , at the end of the second quarter 2022, the average U.S. and Sprout Mortgage.

Mortgage 395

Mortgage Loan Officers Finance Investors 395

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. Bracing for the challenges of non-QM.

Lending 395

Lending Investing Loan Officers Design 395

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 383

Mortgage Loan Officers Inventory Retail 383

Housing Wire

MARCH 31, 2022

As the market shifts, interest in non-QM lending from traditional lenders and brokers has increased. We recently spoke to Bao Huynh, Director of Business Development at LoanScorecard, about these changes and the challenges of originating non-QM loans. And investor guidelines are continually evolving. annual increase.

Marketing 390

Marketing Investors Technology Loan Officers 390

Housing Wire

FEBRUARY 8, 2022

in early 2021 as part of a larger plan to expand its origination reach beyond California — with the goal of creating a national lending footprint. . With the Castle acquisition and tech integration now completed, our intent is to lend nation nationwide in the non-QM market. It was kind of a no brainer, just low-hanging fruit.

Marketing 370

Marketing Retail Lending Mortgage 370

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 417

Housing Market Marketing Loan Officers Mortgage 417

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Industry observers say the first few months of 2022 will represent a transition period to restore the supply and demand equilibrium in the mortgage industry, putting pressure on the stocks of the country’s biggest lenders. “We

Mortgage 383

Mortgage Retail Finance Investors 383

Housing Wire

MARCH 1, 2022

News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). With efficiency metrics and client outcomes like these it’s no surprise that the company continued to attract capital and investor interest.

Real Estate 381

Real Estate Brokerage Real Estate Agent Technology 381

Housing Wire

FEBRUARY 10, 2023

.” While his origination volume dropped by about 55% to $378 million in 2022 from the previous year, Kechian is confident he could capitalize on the purchase market by tapping into the network he’s been building with realtors over the last year. “We We feel like we picked up more market share in 2022,” Kechian said.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

JUNE 15, 2022

The share of mortgage applications for ARMs is still below the historical average between 1990 and 2022 of 12.49% and significantly lower than the peak of 36.6% The surprising surge in rates – up from 3% in January to over 6% in June – breathed new life into ARMs on the demand side, especially for loans with large balances.

Mortgage 370

Mortgage Bracketing Loan Officers Investors 370

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. In turn, LOs will be fighting for a piece of the mortgage pie with less rate-sensitive mortgage products, just as they did in 2022.

Renovations 406

Renovations Realtors Construction Mortgage 406

Housing Wire

JANUARY 27, 2023

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. We are going to pursue the investor niche aggressively, meeting very specific realtors.

Lending 395

Lending Real Estate Agent Loan Officers Retail 395

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Mike, a North Carolina-based loan officer, had two loans closing in mid-January. The contrast between the deals was striking. “I have a loan closing today for first-time homebuyers who didn’t really press me on pricing,” he said.

Loan Officers 426

Loan Officers Mortgage Lending Real Estate Agent 426

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

Mortgage 446

Mortgage Loan Officers Inventory Business 446

Housing Wire

MAY 23, 2022

Fannie Mae recently lowered its projected single-family mortgage origination volume for 2022 from $3 trillion to $2.8 The dedication and the attention to detail from brokers today is great, because they’re focusing to get these loans through,” said Keith Lind, CEO at Acra Lending. Reaching more and new borrowers.

Lending 382

Lending Advertising Real Estate Agent Business 382

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. 1 when it came to jumbo originations in 2022, with $28.7 Pontiac, Michigan-based United Wholesale Mortgage was the only nonbank on the list, in the ninth position with $7 billion in volume in 2022. billion in 2022. Who’s at the top?

Marketing 368

Marketing Retail Mortgage Investors 368

Housing Wire

MAY 31, 2022

Chicago’s housing market started out hot in 2022. The Mortgage Bankers Association expects loan origination volume to drop to about $2.5 trillion in 2022, down significantly from last year’s $4 trillion. Borrowers and real estate agents can track the loan progress and submit paperwork electronically.

Mortgage 383

Mortgage Construction Lending Real Estate 383