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 381

Contracts Loan Officers Legal Best Value 381

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business. million, of those homes.

Loan Officers 393

Loan Officers Real Estate Agent Real Estate Finance 393

Housing Wire

AUGUST 23, 2023

The second round of layoffs this month mostly affected non-tech workers and included its vice president of creative, an operations training manager and a human resources director. Loan officers were let go in August as well, according to former employees. Guaranteed Rate declined to comment on “any personnel matters.”

Human Resources 284

Human Resources Loan Officers Project Management Training 284

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

MAY 2, 2022

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. Interfirst plans to lay off at the lender’s facility in Rosemont beginning on May 13, 2022, or within two weeks of that date.

Human Resources 381

Human Resources Loan Officers Retail Training 381

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. It’s the local relationships.

Mortgage 369

Mortgage Loan Officers Lending Retail 369

Housing Wire

DECEMBER 16, 2022

The housing market has been in a recession since mid-year 2022. Most industry experts predict mortgage rates will be back down around 5.25% in 2023 after peaking at 7.25% in 2022. Want to train for a marathon? As we bid farewell to 2022 (like peace the heck out!) and the host of “The Loan Officer Podcast”

Mortgage 393

Mortgage Loan Officers Training Housing Market 393

Housing Wire

JANUARY 17, 2024

Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? And after years of advertisements and TV commercials promoting the benefits of better-known reverse mortgage loan uses like continuing to live in your current home while tapping your home equity, 4 who could blame them?

Finance 449

Finance Real Estate Agent Real Estate Insurance 449

Housing Wire

JUNE 5, 2023

More people are realizing that not only is the wholesale channel the best place for a consumer to get a loan, but it’s also the best place for a loan officer to work and the best lending partner for a real estate agent. In fact, in 2022, over 20,000 loan officers joined the wholesale channel.

Mortgage 370

Mortgage Retail Lending Loan Officers 370

Housing Wire

JANUARY 25, 2023

Chevalier’s former team of 55 employees – including loan originators, LO assistants, branch, sales and marketing managers – originated $1.8 billion in sales volume in 2021, becoming the most profitable team for loanDepot with the most loan closing volume, units and revenue, according to Chevalier. The lender originated $2.04

Mortgage 370

Mortgage Loan Officers Retail Training 370

Housing Wire

AUGUST 11, 2022

What will servicing look like in 2022? Communication, borrower education and training of consumer-facing staff are all critical elements to ensure your servicing operation is properly prepared to help borrowers as they exit forbearance plans. The post FHFA: GSE servicers must keep fair lending data appeared first on HousingWire.

Lending 381

Lending Finance Loan Officers Legal 381

Housing Wire

OCTOBER 10, 2022

We’ve right-sized areas of our business impacted the most by this volatile market, such as refinance, operations, training, and recruiting,” Lindsey LeBerth, the company’s director of communications, wrote in an email to HousingWire. “In According to the mortgage data platform Modex , Lower originated a total volume of $5.66

Retail 392

Retail Loan Officers Modernization Training 392

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 381

Mortgage Loan Officers Retail Technology 381

Housing Wire

DECEMBER 16, 2021

In November, Interfirst issued pink slips to hundreds of non-commissioned loan officers at its call centers in Charlotte, North Carolina and Rosemont, Illinois, according to WARN notices in both states. I think 99% of the loans that I was writing there were refinances. The layoffs take effect on Jan.

Mortgage 369

Mortgage Loan Officers Retail Training 369

Housing Wire

AUGUST 3, 2022

The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said. billion in the first six months of 2022, down 42.7% from the first six months of 2021. “In

Human Resources 414

Human Resources Loan Officers Mortgage Training 414

Housing Wire

JANUARY 14, 2022

According to Evan Kidwell, chief operating officer at Griffin Funding , a consumer-direct lender that launched non-QM operations in November 2020, the company is willing to hire newbie LOs and processors and give them on-the-job training. “If trillion in 2022. “The area of focus for us right now is hiring LOs,” Lind said.

Lending 384

Lending Loan Officers Real Estate Mortgage 384

Housing Wire

NOVEMBER 10, 2022

It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. The layoffs impacted both the retail and wholesale channel and their positions following a training period of overseas staff, according to multiple sources. Marginal reductions .

Mortgage 370

Mortgage Loan Officers Lending Business 370

Housing Wire

MARCH 15, 2023

ChatGPT was launched in November 2022 by OpenAI. The tool has been trained on millions of pages of writing dating from 2021 and earlier across the internet. In its development, it was trained using 2021 data, so it often includes outdated or factually inaccurate information in its generated content.

Tools 367

Tools Training Business Development 367

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. In total, FoA funded $4.23

Mortgage 393

Mortgage Loan Officers Finance Investors 393

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. trillion in 2022, while refinance origination will dip by 62% to $860 billion from $2.26 trillion in 2021.

Marketing 393

Marketing Real Estate Agent Loan Officers Advertising 393

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 392

Lending Investing Loan Officers Design 392

Housing Wire

MAY 6, 2022

HW: While non-QM loans have historically only accounted for a small portion of the mortgage market, industry experts expect to see significant growth in non-QM lending in 2022 and beyond. All of a sudden, you have loan officers and brokers out there hearing what the market is demanding. We have in-house underwriters.

Marketing 367

Marketing Lending Loan Officers Training 367

Housing Wire

FEBRUARY 8, 2022

And one of our strategic plans for our growth is we’re really bolstering up our retail division in 2022.”. The goal of that push is to expand Excelerate’s overall origination volume from around $3 billion annually now to $6 billion or more in 2022, with the bulk of those originations in the non-QM space.

Marketing 369

Marketing Retail Lending Mortgage 369

Housing Wire

FEBRUARY 15, 2022

Danny Yen, who masterminded a fraudulent continuing education scheme involving hundreds of loan officers, has agreed to settle with state financial regulators for $75,000. Lenders, are you prepared for 2022’s challenges? Presented by: DataVerify.

Loan Officers 368

Loan Officers Law Tools Mortgage 368

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

Real Estate Agent 453

Real Estate Agent Loan Officers Real Estate Agents 453

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 442

Mortgage Loan Officers Inventory Business 442

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Business 423

Business Mortgage Loan Officers Inventory 423

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 418

Loan Officers Mortgage Lending Real Estate Agent 418

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. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 392

Lending Real Estate Agent Loan Officers Retail 392

Housing Wire

JANUARY 10, 2024

In December, the National Multistate Licensing System (NMLS) showed that AmCap had more than 400 sponsored loan officers while CCM had over 4,000. Leonhardt said that AmCap employees will participate in a two-week training program at CCM, with the integration expected to be complete in 45 to 60 days.

Retail 395

Retail Mortgage Loan Officers Training 395

Housing Wire

AUGUST 31, 2023

And as a loan officer (LO), why should I care? A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. A trained and vetted third party can perform the data collection. Who is eligible to take advantage of them?

Modernization 386

Modernization Appraisal Inspection Valuation 386

Housing Wire

DECEMBER 20, 2022

When the refi market dried up in 2022, business took a drastic turn for Thuan Nguyen, CEO of Loan Factory and the top loan originator on the Scotsman Guide for the last two years. I have about five loan officers helping me, and I have more than 30 processors and assistants helping me. I cut [my team] down a lot.

Business 74

Business Retail Realtors Loan Officers 74

Housing Wire

DECEMBER 11, 2023

According to the CFPB, hundreds of loan officers at BofA failed to ask mortgage applicants demographic questions and falsely reported that they had chosen not to respond.” “KeyBank’s betrayal of Black and low-income homebuyers continued in 2022” “KeyBank made 19.2% Back to Bob’s American dream.

Real Estate Agent 441

Real Estate Agent Real Estate Agents Lending 441

Housing Wire

JULY 25, 2023

What does the top-producing lending officer (LO) in the country have to say to other mortgage lenders? More critical than training on skills is training on having a strong mindset,” said Matt Weaver. During the Peak Performers sessions, Weaver will share his 10 points to high-level loan originations. Weaver is the No.

Real Estate Agent 316

Real Estate Agent Mortgage Real Estate Training 316

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. Even if mortgage rates are hovering in the 6% range, homes are still going to sell, loan officers said. The last two years have been good to Christian Dicker.

Housing Market 432

Housing Market Marketing Brokerage Real Estate 432

Housing Wire

OCTOBER 20, 2023

According to a 2022 tech survey conducted by the National Association of Realtors ® (NAR), a growing number of real estate agents attest to social media’s positive impact on their business. We’ve compiled this list of savvy real estate social media post ideas to inspire your social strategy and keep your Instagram feed fresh and fun.

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Real Estate Agents Real Estate Agent Clients 398