Remove 2022 Remove Investors Remove Loan Officers Remove Real Estate Agent
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This growing IMB aims to capture leads through its proprietary tech, not agent referrals

Housing Wire

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.

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AmeriFirst Financial gets back into forward mortgage origination

Housing Wire

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

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

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.

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

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
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DataDigest: The remarkably resilient agent commission rate

Housing Wire

On Friday afternoon, my real estate agent called with good news. The agent wished me well and said that she would appreciate a review on her website. I had sought out the agent because she had the best track record in the area, worked with a lot of investors on the buy side, and had a history of closing quickly.

Agents 410
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Guaranteed Rate’s Larry Steinway makes the jump to Revolution Mortgage

Housing Wire

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. It’s the local relationships.

Mortgage 370
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Porch acquires mortgage software firm Floify for $90M

Housing Wire

In 2021, Floify’s software, which streamlines the loan origination process by allowing document sharing, and communication between LOs and real estate agents, has helped over 77,000 mortgage applications close each month, according to Porch. The acquisition cost Porch about $76.5 as of late Thursday morning.

Mortgage 397