Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. and 2024 at 6%.

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Loan Officers Investors Mortgage Clients 395

Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

Loan Officers 427

Loan Officers Tools Business Clients 427

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

MARCH 6, 2024

“CMG’s financial wellness approach wins over each customer with a seamless combination of experienced human advisors and easy-to-use digital tools,” said Paul Akinmade, CMG’s financial chief marketing and strategy officer. The company has been aiming to grow its market share in originations through mergers and acquisitions.

Loan Officers 416

Loan Officers Retail Tools Investors 416

Housing Wire

NOVEMBER 23, 2022

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

Marketing 383

Marketing Loan Officers Business Mortgage 383

Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Institutional Investors.

Inventory 395

Inventory Marketing Mortgage Supply Chain 395

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

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. ” Who is jumping into the market? from the week prior.

Mortgage 383

Mortgage Loan Officers Investors Government 383

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

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 383

Lending Loan Officers Training Investors 383

Housing Wire

JANUARY 3, 2024

A total of 84 staff were affected at five offices in Pasadena, Roseville, Agoura Hills, Westlake Village and Moorpark, California, according to a Worker Adjustment and Retraining Notifications (WARN) alert submitted to the California’s Employment Development Department (EDD) in late December. “To million but down from $135 million in Q3 2022.

Loan Officers 417

Loan Officers Development Investors Finance 417

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. HousingWire: How is the shift from refi to purchase affecting the non-QM market?

Marketing 395

Marketing Investors Technology Loan Officers 395

Housing Wire

FEBRUARY 28, 2022

The mortgage industry headed into 2022 after a strong showing in back-to-back years. Interest rates were at or near historical lows, home prices showed strong appreciation and market participants set volume and profitability records. 2022 still holds great opportunity for the industry but it also signals a pivot point.

Technology 395

Technology Clients Business Investing 395

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. 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.

Housing Market 417

Housing Market Marketing Loan Officers Mortgage 417

Housing Wire

FEBRUARY 10, 2023

“I really think they had about three months last year where it was a buyers market in the fourth quarter. Literally, we’re right back to being a seller’s market again.” in the fourth quarter of 2022. Connie Kim : Tell us about your main market. Kechian: In 2022, it was almost 90% purchase mortgages.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

OCTOBER 6, 2022

“The jumbo rates are offering an excellent opportunity in terms of where they are now compared to the conventional ones, especially jumbo ARMs,” a South Carolina retail loan officer told HousingWire. Despite rates higher than a year ago, mortgage loans are still an attractive alternative for them.”. for the week ending Sep.30.

Mortgage 370

Mortgage Marketing Loan Officers Retail 370

Housing Wire

AUGUST 1, 2023

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. And Rocket is well aware.

Loan Officers 370

Loan Officers Retail Real Estate Agent Real Estate 370

Housing Wire

JANUARY 19, 2023

Voyles will be responsible for growing the retail division overseeing sales, operations and marketing as well as building on the existing framework, the company said Wednesday. After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation.

Retail 383

Retail Mortgage Loan Officers Lending 383

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. This has resulted in the company closing branches and laying off loan officers on the retail side. It’s a shift that is happening in the market. 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 383

Mortgage Investors Loan Officers Technology 383

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. 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

FEBRUARY 8, 2022

Newport Beach, California-based Excelerate Capital , a long-time non-QM lender with a growing market presence, finalized its acquisition of Castle Mortgage Corp. With the Castle acquisition and tech integration now completed, our intent is to lend nation nationwide in the non-QM market.

Marketing 370

Marketing Retail Lending Mortgage 370

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 395

Retail Loan Officers Mortgage Government 395

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. 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.

Mortgage 383

Mortgage Loan Officers Government Buyers 383

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. Mark Glebman, Caliber Home Loans. Housing prices started to inch down in July, but were still 14.5%

Mortgage 383

Mortgage Loan Officers Inventory Retail 383

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. For jumbo loans (greater than $647,200), rates remained at 6.12%. Consequently, lenders and loan officers have started 2023 at a low point, hoping a recovery will come in the second half of the year.

Mortgage 525

Mortgage Loan Officers Insurance Investors 525

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

APRIL 29, 2022

Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Conway, Arkansas. Rochester, New York.

Housing Market 383

Housing Market Marketing Agents Real Estate 383

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

AUGUST 25, 2022

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But the reality is Homepoint – like some of its peers – is going to lose market share as it attempts to right the ship. Homepoint is in a tough spot. Homepoint is hardly alone.

Mortgage 395

Mortgage Loan Officers Finance Investors 395

Housing Wire

JANUARY 11, 2022

But Redfin is first eliminating 121 mortgage roles, less than 2% of the total staff, mainly in sales support, capital markets, and operations. Also, Redfin hopes it will let the company reduce investments in lending software by using the Bay Equity system. Founded in 2007, Corte Madera-based Bay Equity originated a volume at $8.5

Loan Officers 462

Loan Officers Lending Real Estate Brokerage 462

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 406

Lending Loan Officers Real Estate Mortgage 406

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

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 379

Investors Mortgage Insurance Real Estate 379

Housing Wire

NOVEMBER 14, 2022

Demand from investors is still solid, albeit more guarded. The primary challenge for non-QM has been the extreme volatility in the secondary markets. TH: Despite a turbulent end to 2022, I feel strongly that the 2023 outlook for non-QM is quite promising. But there is still tremendous demand on the borrower side.

Lending 427

Lending Investors Loan Officers Technology 427

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 383

Mortgage Loan Officers Clients Housing Market 383

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. Ultimately, we determined the market conditions have fundamentally changed and we need to change with them,” Graham Fleming, FoA’s president and interim CEO, told analysts during a call. FoA produced a $1.1

Mortgage 395

Mortgage Finance Retail Business 395