Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. Potempa had a joint venture with OneTrust from March 2022 to March 2024.

Loan Officers 407

Loan Officers Mortgage Retail Lending 407

Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Home equity line of credit (HELOC) and home equity loan originations increased 50% in 2022 compared to two years earlier, according to the Mortgage Bankers Association ’s Home Equity Lending Study.

Lending 407

Lending Tools Inventory Renovations 407

Housing Wire

OCTOBER 2, 2023

BLVR – a marketing and promotional campaign launched by EPM on Monday – aims to reach as many retail loan officers to provide information about the wholesale channel. When retail loan originators visit the website, LOs are asked to fill out their names, contact information and comments or questions about wholesale lending.

Retail 407

Retail Loan Officers Lending Business 407

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. What will servicing look like in 2022?

Lending 376

Lending Finance Loan Officers Legal 376

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. Expected to close around Oct. billion in assets, the companies claim.

Lending 342

Lending Retail Legal Loan Officers 342

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart.

Lending 376

Lending Retail Loan Officers Mortgage 376

Housing Wire

MAY 2, 2024

one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loan officers to ML Mortgage. Department of Agriculture (USDA) loans, as well as down payment assistance programs. One idea would be a ”builder that wants to add a lending arm,” he added.

Retail 404

Retail Loan Officers Mortgage Lending 404

Housing Wire

MARCH 5, 2024

John Abraham, former top-producing mortgage loan officer at Caliber Home Loans /NewRez , has joined The Money Store. The Money Store boasts a nimble lending platform, transparent loan process and highly competitive rates. In 2022, Abraham ranked as the No. His team will be making the move with him.

Loan Officers 394

Loan Officers Retail Lending Mortgage 394

Housing Wire

NOVEMBER 21, 2023

In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint. CMG makes its services and products available through wholesale and correspondent lending as well. 21, NMLS showed the lender had eight loan officers and 13 branches.

Loan Officers 387

Loan Officers Retail Lending Renovations 387

Housing Wire

JUNE 6, 2022

By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

Mortgage 417

Mortgage Loan Officers Lending Human Resources 417

Housing Wire

JANUARY 29, 2024

district court in Michigan against Atlantic Trust Mortgage Corporation, a Florida-based broker shop with 18 loan officers, per the Nationwide Multistate Licensing System (NMLS). Other cases Another lawsuit recently filed by UWM was against Madison Atrina LLC , doing business as District Lending.

Contracts 435

Contracts Loan Officers Lending Retail 435

Housing Wire

FEBRUARY 21, 2024

Cabe, who most recently served as president of reverse mortgage lending at Fairway Independent Mortgage Corp. He also previously served as a reverse mortgage consultant for Security One Lending in the early 2010s. “I His knowledge and experience in the reverse mortgage industry will be invaluable to our clients and loan officers.

Mortgage 397

Mortgage Loan Officers Clients Lending 397

Housing Wire

DECEMBER 12, 2023

“We would prefer to be picking up the loan officers without the branches, without physical locations because we’re trying to backfill into where we have existing retail opportunities and we have space.” In June, the lender brought on 100 loan officers and hired 33 additional LOs based in Texas since that period.

Loan Officers 416

Loan Officers Retail Lending Mortgage 416

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.

Mortgage 521

Mortgage Marketing Retail Lending 521

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

Loan Officers 417

Loan Officers Brokerage Retail Construction 417

Housing Wire

JANUARY 25, 2024

Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA). But the crux of the commissioner’s findings focuses on unlicensed origination activities.

Loan Officers 376

Loan Officers Mortgage Finance Lending 376

Housing Wire

MARCH 6, 2024

John joined Newrez in June 2018 as vice president of marketing and was promoted to head of marketing in 2022. While at Newrez, he was named as HousingWire’s 2022 Marketing Leader and was a 2019 Rising Star award winner for scaling Newrez’s retention business. It prides itself on being a fintech company that does retail lending.

Marketing 401

Marketing Loan Officers Retail Lending 401

Housing Wire

SEPTEMBER 15, 2023

The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries. 1, the company sued Kristin Bati, a former vice president of mortgage lending, in Superior Court in California for Orange County. Gifoli served as a loan officer from May 2021 to October 2021.

Loan Officers 399

Loan Officers Legal Real Estate Lending 399

Appraisal Buzz

JANUARY 14, 2022

Tavant , a digital lending solutions provider, has launched V?LOX LOX NXT, an advanced edition of its AI-based digital lending platform. LOX NXT will be available in-market and to current customers in March 2022. LOX digital lending. LOX NXT, the latest evolution of Tavant’s cloud-based V?LOX

Lending 195

Lending Mortgage Loan Officers Appraisal 195

Housing Wire

JANUARY 19, 2024

“We are proud of our record and strongly deny that Patriot Bank ever avoided originating home mortgage loans in Black and Hispanic areas of the Memphis market.” The bank claims that Patriot ranked 14th out of 482 lenders in making mortgage loans in minority areas of Memphis in 2021 and 15th out of 534 lenders in 2022.

Loan Officers 413

Loan Officers Lending Advertising Home Improvement 413

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 394

Loan Officers Tools Business Clients 394

Housing Wire

AUGUST 29, 2023

Ozment was hired in April 2022 and was given access to Lower’s confidential information and trade secrets, including customer identification, financial information and lending objectives. He left the lender in a “sudden coordinated departure in November 2022,” Lower alleged in its suit. Lower originated a total of $4.24

Loan Officers 358

Loan Officers Lending Business Mortgage 358

Housing Wire

AUGUST 17, 2023

It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. 5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. Trius Lending Partners (no.678), Magazine ‘s 5,000 fastest-growing private companies in the U.S. Zap Mortgage (no.294)

Loan Officers 369

Loan Officers Mortgage Development Lending 369

Housing Wire

JANUARY 2, 2024

However, two former employees said the company communicated it’s shutting down its mortgage lending business. “They have let branch managers and loan officers go and say they are transitioning to a broker [shop].” Purchases comprised about 66%, conventional loans were 45% and 95% were banked loans.

Loan Officers 424

Loan Officers Lending Mortgage Insurance 424

Housing Wire

OCTOBER 31, 2022

Michael Brennan, president of Movement, said Waggoner can empower loan officers with the tools they “need to win.”. “I’m excited to translate this vision into transformational action across our technology platform by putting the best tools in the hands of our loan officers,” Waggoner said in a statement. .

Loan Officers 366

Loan Officers Mortgage Technology Tools 366

Housing Wire

JUNE 29, 2022

New data released in Maxwell’s 1H 2022 Millennial & Gen Z Borrower Sentiment Report , however, goes beyond simplistic stereotypes by digging into the needs, habits and preferences of 1,000 respondents planning to apply for a mortgage over the next few years. As such, personal support is important to this demographic.

Loan Officers 425

Loan Officers Mortgage Modernization Business 425

Housing Wire

DECEMBER 11, 2023

Loan discounts — known as pricing exceptions — is when a lender makes exceptions to its established credit standards. fair lending laws has been on regulators’ radar in recent years. The CFPB has been tightening its screws on fair lending practices. Its findings showed that mortgage lenders violated U.S.

Mortgage 434

Mortgage Lending Law Loan Officers 434

Housing Wire

SEPTEMBER 5, 2023

The non-QM demand for loans is very healthy,” Acra Lending CEO Keith Lind said. “We Another plus for non-QM lending has been the volatility in the banking sector. “I More than a 20% net share of banks reported having tightened standards on non-QM jumbo residential loans (21.6%) and QM jumbo loans (21.4%), per the survey.

Marketing 367

Marketing Loan Officers Lending Brokerage 367

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. As we continue to grow our portfolio, we’ll use equity as well as debt … a lot of the banks that he works with also do commercial lending.

Realty 368

Realty Loan Officers Retail Real Estate 368

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

FEBRUARY 15, 2024

Conventional loans account for 95% of Better’s portfolio, with the remaining 5% tied to other products such as jumbo loans. The lender’s overall production fell from $57 billion in 2021 to $11 billion in 2022. billion in Q3 2022. “VA VA loans are 12% of the mortgage market,” Garg said. “So,

Loan Officers 375

Loan Officers Finance Mortgage Lending 375

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president. He left Rocket in the beginning of 2019.

Retail 403

Retail Lending Loan Officers Brokerage 403

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 267

Loan Officers Brokerage Real Estate Lending 267

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 358

Loan Officers Mortgage Real Estate Agent Business 358

Housing Wire

FEBRUARY 6, 2024

In addition, the bank discouraged these customers from obtaining home loans, according to the complaint. Lending discrimination violates the law and harms communities and entire families for generations,” Attorney General Merrick Garland said in a statement. In 2022, settlements were made with Trident Mortgage Co.,

Advertising 398

Advertising Lending Loan Officers Law 398

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 377

Contracts Loan Officers Legal Best Value 377

Housing Wire

OCTOBER 18, 2023

“From the first six months of 2022 to first six months of 2023, brokers have increased their percentage from 23% to 28% while retail has decreased by that same percentage,” Jeff Walton, CEO and co-founder of InGenius, told me. About 20,000 LOs have dropped out per quarter since Q2 2022, per InGenius data. Take a look.

Retail 512

Retail Loan Officers Brokerage Mortgage 512