Housing Wire

DECEMBER 16, 2022

For those of us in the mortgage industry, the next 100 days is meaningful as it will be a period that requires the most focus and greatest amount of perseverance. Dustin Owen Waterstone Mortgage Contributor. The housing market has been in a recession since mid-year 2022. Want to train for a marathon? This will pass.

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Mortgage Loan Officers Training Housing Market 371

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. Desmond Smith: There are two ways to get a mortgage — wholesale or retail.

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Mortgage Retail Lending Loan Officers 342

Housing Wire

JANUARY 10, 2023

American Pacific Mortgage (APM) has scooped up roughly 150 employees from 20 AmeriFirst Financial Inc. branches since December 2022, APM confirmed. There’s a concurrent period in the 30 days where they’re getting trained while waiting for their licensing to come through,” he said. billion, plans on expanding in 2023.

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Loan Officers Mortgage Training Finance 328

Housing Wire

JULY 25, 2022

The national mortgage delinquency rate rose in June after hitting consecutive record lows in each of the previous three months. million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a 5% increase from May. What will servicing look like in 2022? A total of 1.51

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Mortgage Training Inventory Lending 351

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. trillion in mortgages were originated in 2020 and 2021, the Mortgage Bankers Association (MBA) reported.

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Mortgage Buyers Agents Real Estate Agent 389

Housing Wire

MAY 6, 2022

Add Guild Mortgage to the list of lenders with profitability propelled by the servicing portfolio in the first quarter — a trend that will continue in the coming months, as pressure on origination margins will remain, executives believe. MSR values tend to initially increase as mortgage rates rise and borrowers are less likely to refinance.

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Mortgage Retail Training Finance 354

Housing Wire

JUNE 22, 2023

relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Of the 400 employees scooped up by American Pacific Mortgage (APM) late last year, about 20 LOs have returned to AmeriFirst Financial. In 2022, AmeriFirst closed $2.5

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Loan Officers Mortgage Real Estate Agent Business 320

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. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000. It’s the local relationships.

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Mortgage Loan Officers Lending Retail 334

Housing Wire

APRIL 5, 2024

mortgage industry recently had to remind itself of this fact when a CNN analysis found that the nation’s largest credit union, Navy Federal, has the widest disparity in mortgage approval rates between white and black borrowers of any major lender. Is the mortgage industry offering fair access to loans?

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Mortgage Lending Buyers Property Management 324

Housing Wire

JANUARY 10, 2024

Rapidly expanding Cleveland, Ohio-based CrossCountry Mortgage (CCM) has struck a deal to acquire the smaller retail mortgage lender AmCap Home Loans and bolster its operations in Texas. In November, the source added that CCM originated about 340 units and $112 million in mortgage volume in the state. billion in loans in 2023.

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Retail Mortgage Loan Officers Business 332

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

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Mortgage Loan Officers Finance Investors 384

Housing Wire

JANUARY 25, 2023

About 25 people from loanDepot ’s top producing team have joined boutique lender Revolution Mortgage to reunite with their former team lead. After Chevalier left for Revolution Mortgage in December, loanDepot gave the team an ultimatum to either work for another loanDepot team or leave, a former loanDepot employee told HousingWire. “We

Mortgage 341

Mortgage Loan Officers Retail Training 341

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

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Mortgage Loan Officers Inventory Business 438

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. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

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Business Mortgage Loan Officers Inventory 401

Housing Wire

AUGUST 3, 2021

Rocket Companies , parent of Rocket Mortgage , has its eyes on the solar energy industry, announcing this week that it will enter the green energy game by 2022. A testing phase of this endeavor will start in the fourth quarter of 2020 and is expected to be available to the public in early 2022, Rocket said.

Mortgage 393

Mortgage Clients Lending Technology 393

Housing Wire

NOVEMBER 23, 2021

Chicago-based Interfirst Mortgage Co. 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. In returning from its three-year hiatus, Interfirst said it had reinvented itself as a tech-forward mortgage lender.

Mortgage 353

Mortgage Loan Officers Retail Technology 353

Housing Wire

NOVEMBER 30, 2021

Mortgage rates? 2022 is slated to be? Your agents are trained on market activity and are seen as trusted sources. . So, keep reading the 2022 market predictions, sure. The post Here’s the key to being an empowered real estate professional in 2022 appeared first on HousingWire. their predictions.?Home

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Real Estate Agents Real Estate Agent Business 421

Housing Wire

AUGUST 9, 2023

UWM Holdings Corporation , the parent of United Wholesale Mortgage (UWM), was another mortgage lender that returned to profitability in the second quarter of 2023, just like its primary competitor Rocket Companies and the origination segments of Mr. Cooper and Pennymac. billion during the second quarter of 2022.

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Training Mortgage Technology Investing 370

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 338

Mortgage Loan Officers Retail Training 338

Housing Wire

NOVEMBER 7, 2023

Smith will engage with both the military community as well as real estate professionals to further education on VA mortgage products. Our mission is to inform and empower so that more of our country’s service members, who have sacrificed so much on behalf of our country, can take advantage of the powerful benefits of the VA mortgage program.”

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Lending Real Estate Agent Real Estate Training 282

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Another loan closing today is for a real estate agent who is an investor and has done many mortgages in the past. I feel she’s going to know what the national average (for a 30-year fixed mortgage rate) is at around 6.8%. She’s well educated.

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Loan Officers Mortgage Lending Real Estate Agent 362

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. for purchase mortgage origination, and he is taking the stage at HW Annual. MW: In 2022, my team and I created a mantra.

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Real Estate Agent Mortgage Real Estate Training 248

Housing Wire

MAY 18, 2022

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.

Mortgage 391

Mortgage Clients Insurance Tools 391

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgage 358

Mortgage Loan Officers Lending Business 358

Housing Wire

APRIL 18, 2023

While a mortgage business’ battle against margin compression is seemingly endless, that fight is less noticeable in times of surging revenue. The decline in mortgage volume, along with increasing rates and uncertainty about the months ahead, have amounted to a scramble for revenue and a continual push to reduce expenses.

Mortgage 345

Mortgage Technology Business Investing 345

Housing Wire

APRIL 1, 2024

In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the UPB has diminished right.

Loan Officers 325

Loan Officers Training Business Retail 325

Appraisal Buzz

JULY 18, 2022

Chicago — ProxyPics makes wave as the first Property Data Report provider for Freddie Mac’s ACE+ PDR (automated collateral evaluation plus property data report), launch made effective on July 17, 2022. The post ProxyPics Partners with Freddie Mac to Simplify Refinance Mortgages in the Digital Age appeared first on Appraisal Buzz.

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Training Technology Mortgage Real Estate 221

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. A&D Mortgage is one example of an originator that is committed to prefunding quality control reviews.

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Investors Technology Mortgage Training 358

Housing Wire

JANUARY 9, 2024

Such funding will also directly support the work of housing counseling offering required Home Equity Conversion Mortgage (HECM) sessions. Notable increase from mid-2022 The NOFO amount of over $40 million reverses course on what had been falling disbursements for housing counseling. HUD awarded $51.4

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Design Mortgage Home Improvement Training 344

Housing Wire

DECEMBER 2, 2021

The mortgage industry is contending with a loan-underwriter shortage that has acted like a governor on an engine — slowing the pace of a fast-growing private-label securitization market. It’s already common among mortgage originators.). “[The] It is complex, with multiple, varied causes.

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Mortgage Technology Development Marketing 329

Housing Wire

DECEMBER 19, 2022

Rocket Mortgage , once the largest mortgage originator in the country, capitalized on the all-time low mortgage rates during the pandemic years, racking up record profits through an enormous amount of refinances. Worse, Rocket lost its origination crown to its chief antagonist, United Wholesale Mortgage. trillion in 2022.

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Mortgage Real Estate Agent Clients Business 376

Housing Wire

MAY 4, 2022

Don Layton, the former CEO of Freddie Mac recently penned what can only be described as an attack piece on mortgage originators from his seat as a fellow at the JCHS, Harvard’s Joint Center For Housing Studies. The piece is titled, “The Policymaking Implications Of Record-High Mortgage Origination Profits During The Pandemic.”

Mortgage 414

Mortgage Finance Marketing Training 414

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

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Contracts Loan Officers Legal Best Value 348

Housing Wire

MARCH 26, 2024

California-based loanDepot will pay an undisclosed amount and commit to improving its mortgage appraisal practices. The settlement requires loanDepot to implement enhancements to its mortgage appraisal policies and procedures within 120 days. But the company hasn’t admitted any fault.

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Appraisal Reconsideration of Value Valuation Mortgage Appraisal 319

Housing Wire

JANUARY 23, 2023

In a 2022 survey by the American Land Title Association , 46% of respondents said their employees receive a minimum of one fraudulent email each month. Doma Academy also provides resources like webinars and training to prevent wire fraud. In 2022, both companies featured in HousingWire’s Tech100 Awards, with paymints.io

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Insurance Real Estate Tools Technology 337

Housing Wire

SEPTEMBER 20, 2022

With so much changing in the market, it’s no surprise that the risk of mortgage fraud has increased this year. HousingWire recently spoke to Donna Gibson, COO and president of QC Ally, about fraud prevention and loan quality outlook for the rest of 2022. increase) fraud rose in the second quarter of 2022.

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Marketing Training Clients Technology 299

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 mortgages in 2021. billion in the first six months of 2022, down 42.7%

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Human Resources Loan Officers Mortgage Training 414