Housing Wire

MARCH 6, 2024

Sagent’s solutions include Loanserv, a servicing system of record powering collections, accounting, escrows, investor management and customer care; Tempo, a default management system of record powering loss mitigation, foreclosure and bankruptcy; and Account Connect, a customer care and retention system.

Loan Officers 420

Loan Officers Retail Tools Investors 420

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 397

Loan Officers Agents Retail Technology 397

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

JUNE 22, 2023

It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. AmeriFirst will keep physical branches in 20 states, but under a new corporate model, no branch managers will make an override on the production of the loan officers they manage. In 2022, AmeriFirst closed $2.5

Loan Officers 370

Loan Officers Mortgage Real Estate Agent Business 370

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 522

Mortgage Marketing Retail Lending 522

Housing Wire

JANUARY 3, 2024

The WARN Notice shows that the workforce reduction includes 10 loan officers , senior app developers and vice presidents of app development, talent sourcing and sales manager. million but down from $135 million in Q3 2022. billion in production volume during that period, a 16% decline from the same period in 2022.

Loan Officers 421

Loan Officers Development Investors Finance 421

Housing Wire

AUGUST 8, 2022

HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. HousingWire: Given the recent news about a few non-QM lenders shutting down, some loan officers might be hesitant about working with non-QM.

Lending 384

Lending Loan Officers Training Investors 384

Housing Wire

MARCH 8, 2023

However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. In addition, loan officers said that investors took advantage of a slower market. Rates for jumbo loan balances (greater than $726,200) went from 6.44% to 6.49% in the same period.

Mortgage 384

Mortgage Loan Officers Investors Government 384

Housing Wire

FEBRUARY 28, 2022

The mortgage industry headed into 2022 after a strong showing in back-to-back years. 2022 still holds great opportunity for the industry but it also signals a pivot point. The company meticulously logged client feedback regarding challenges in the loan process and worked to eliminate pain points as well. “We 6 wholesale lender.

Technology 397

Technology Clients Business Investing 397

Housing Wire

JANUARY 19, 2023

After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation. Like its competitors, Guaranty Home Mortgage was affected by rising mortgage rates in 2022. million in total volume in 2022, with 63% accounting for purchase mortgages and refis consisting of 32%.

Retail 384

Retail Mortgage Loan Officers Lending 384

Housing Wire

SEPTEMBER 5, 2023

First, Lind said, it is important to note that nearly 50% of non-QM production right now is investor loans. There are a lot of very strong tailwinds with investors understanding there is a shortage of somewhere between three and five million homes in the U.S. We increased our liquidity and found more buyers for our loans.

Marketing 397

Marketing Loan Officers Lending Brokerage 397

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

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 27, 2022

The round is led by the venture capital firm Andreessen Horowitz , with participation from new investor Zigg Capital and seed investors Conversion Capital and Bain Capital Ventures. Investors backing Vesta also include Index Ventures. The platform supports approval, underwriting, closing, and funding of home loans.

Mortgage 384

Mortgage Investors Loan Officers Technology 384

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 384

Marketing Loan Officers Business Mortgage 384

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 397

Mortgage Investors Legal Loan Officers 397

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 370

Mortgage Loan Officers Lending Retail 370

Housing Wire

MAY 16, 2022

Polly , a software-as-service mortgage technology firm that operates a loan-trading platform, integrated with six mortgage insurance providers to streamline the mortgage process for loan officers and mortgage lenders. .

Insurance 370

Insurance Mortgage Investors Tools 370

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 432

Insurance Loan Officers Mortgage Business 432

Housing Wire

OCTOBER 10, 2022

“Angel Oak Home Loans continues to serve homebuyers across the country and maintains staffing levels to meet the changing dynamics of the residential mortgage market.”. According to the mortgage data platform Modex , Angel Oak Home Loans originated a total volume of $2.44 of the volume consisted of conventional loans and 54.1%

Retail 397

Retail Loan Officers Mortgage Government 397

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 384

Mortgage Loan Officers Inventory Retail 384

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 384

Mortgage Loan Officers Retail Technology 384

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 384

Mortgage Loan Officers Government Buyers 384

Housing Wire

JANUARY 11, 2022

Due to its size, Bay Equity is more efficient at originating mortgages and selling loans in the secondary market to investors, according to Redfin, which said that the acquired company had generated positive net income over the last three years. Founded in 2007, Corte Madera-based Bay Equity originated a volume at $8.5

Loan Officers 466

Loan Officers Lending Real Estate Brokerage 466

Housing Wire

OCTOBER 28, 2021

According to Porch, approximately 70% of Floify’s transactions this year were on home purchases, which is expected to increase in 2022. Floify projects $15 million of revenue in 2022 and is projected to bring in $2 million in revenue to Porch for the balance of 2021 post-close, Porch told investors. as of late Thursday morning.

Mortgage 397

Mortgage Logistics Insurance Real Estate Agent 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 380

Legal Contracts Lending Loan Officers 380

Housing Wire

JANUARY 4, 2023

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week. ”

Mortgage 527

Mortgage Loan Officers Insurance Investors 527

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 306

Retail Loan Officers Investors Lending 306

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 397

Mortgage Loan Officers Finance Investors 397

Housing Wire

APRIL 6, 2023

Strauss is returning to the industry after being accused of abruptly shutting down lender Sprout Mortgage in July 2022 without paying former employees’ salaries and severance packages. The company received a residential mortgage broker license in Illinois on November 1, 2022. Strauss founded Sprout six years after paying $2.45

Investors 381

Investors Mortgage Insurance Real Estate 381

Housing Wire

JANUARY 14, 2022

Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. The hiring trend at non-QM lenders stands in sharp contrast to recent layoffs at some consumer-direct lenders, which specialize in conventional refinance loans. trillion in 2022.

Lending 409

Lending Loan Officers Real Estate Mortgage 409

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. Boise-based loan officer Blake Bianchi, founder and CEO at Future Mortgage , said he noticed an increase in clients choosing 2-1 temporary rate buydown.

Mortgage 384

Mortgage Loan Officers Clients Housing Market 384

Housing Wire

JULY 7, 2022

2022 State of the Mortgage Industry: Affordability and Inventory. In Portland, Oregon, for example, one loan officer noted that new listings doubled in the second half of May from 800 to 1,900 new listings. Institutional Investors. In 2021, we saw the highest rate of investor-purchased properties than ever before.

Inventory 397

Inventory Marketing Mortgage Supply Chain 397

Housing Wire

MARCH 31, 2022

Overall, I think the consensus we’re hearing from clients is that the overall non-QM market is going to continue to grow in 2022. BH: There’s no question that non-QM is more difficult to originate than conforming or government loans, so many mainstream brokers and loan officers have been reluctant in the past to offer these products.

Marketing 397

Marketing Investors Technology Loan Officers 397

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. According to a Q2 analysis by FundingShield, there was a 40.69% increase in wire-related issues compared to Q1 2022. Year-to-date 2022, however, volume reached $4.2 Presented by: FundingShield.

Mortgage 397

Mortgage Finance Retail Business 397

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 431

Lending Investors Loan Officers Technology 431

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 410

Business Loan Officers Clients Inventory 410