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 428

Loan Officers Tools Business Clients 428

Housing Wire

NOVEMBER 1, 2023

The platform aims to “directly originate HEIs by leveraging the company’s nationwide correspondent network of loan officers and establishing direct-to-consumer origination channels,” the company told HousingWire. 16, Gifford said that Redwood stopped buying home equity investment (HEI) contracts prior to the launch of Aspire.

Investors 420

Investors Investing Contracts Loan Officers 420

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. However, if the contract was terminated with cause – which includes cases of fraud or breach of fiduciary duty, among others – he would not receive the severance compensation. In 2020, it originated $8.5 2 in a U.S.

Retail 421

Retail Contracts Loan Officers Mortgage 421

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 410

Loan Officers Legal Real Estate Lending 410

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. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. from the week prior.

Mortgage 384

Mortgage Loan Officers Investors Government 384

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” Mortgage-origination volume between 2021 and yearend 2023, however, is projected to drop 63% — from $4.44 trillion to $1.64

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

OCTOBER 5, 2023

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. That offering, Unlock HEA Trust 2023-1, is slated to close this week. The 5% overall increase in home prices since February [2023] means that the average U.S.

Housing Market 421

Housing Market Marketing Contracts Finance 421

Housing Wire

APRIL 26, 2023

Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. Meanwhile, the peak for 2023 so far is 472,680.

Mortgage 397

Mortgage Loan Officers New Listings Government 397

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. The average contract interest rate for 5/1 ARMs decreased to 5.38% last week, down from 5.44% the previous week. The MBA data shows refinancings were 31.9%

Mortgage 382

Mortgage Marketing Loan Officers Contracts 382

Housing Wire

NOVEMBER 23, 2022

As rates increase and housing prices correct in 2023, sellers will want to take advantage of improving their chances to do business with an excited buyer who can obtain a lower than market rate with seller participation,” Jeff Miller, vice president of Pacific Northwest at Churchill Mortgage , said. “It

Buyers 473

Buyers Marketing Sellers Loan Officers 473

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. The company expects a $5 billion volume in 2023, but 80% via brokers. EPM filed a counterclaim against JIM for breaching the sponsorship contract by changing the car’s driver starting May 2022.

Retail 370

Retail Loan Officers Landlords Lending 370

Housing Wire

DECEMBER 27, 2022

The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. And, the market looks likely to remain frozen well into 2023, experts told HousingWire. Those trends are likely to continue in 2023.

Housing Market 526

Housing Market Marketing Real Estate Agent Real Estate 526

Housing Wire

FEBRUARY 26, 2024

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S. the Nationwide Multistate Licensing System (NMLS) showed.

Retail 421

Retail Legal Lending Business 421

Housing Wire

FEBRUARY 15, 2024

On FHA endorsements for home purchase financing, approximately 40% included down payment assistance in both 2022 and 2023, while the share was roughly 30% in 2021. The DPA share in FHA’s total book of business, including refinances, was 27% as of October 2023. Every city, county and state have different underwriting guidelines.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450

Housing Wire

FEBRUARY 27, 2023

Consider, for example, just one aspect of purchasing a new home in 2023: obtaining mortgage insurance. That is a conversation that rarely comes up with a loan officer, and yet the consideration of higher monthly costs weighs heavily on the customer’s mind. Now, consider the fact that these customers are in foreign territory.

Insurance 396

Insurance Contracts Buyers Mortgage 396

Housing Wire

NOVEMBER 9, 2022

Fraud risk continues to rise even as the market contracts . As part of this strategy, FoA is helping its loan officers and branches to transition to other companies, such as American Pacific Mortgage and Hallmark Home Mortgage.

Mortgage 396

Mortgage Finance Retail Business 396

Housing Wire

JUNE 2, 2023

The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. Mat Ishbia: In the 2022 and 2023 markets, rates went up a lot. I think 2022 and 2023 are equally tough years. The stuff we’re doing in 2023 was built in 2020.

Retail 370

Retail Inventory Mortgage Loan Officers 370

Housing Wire

DECEMBER 20, 2022

Forecasting another purchase market in 2023, Nguyen started using his proprietary software for something new – to pursue relationships with realtors. “I Read on for Nguyen’s new business strategies for 2023, how he plans to scale his business and prospects for the housing market. Connie Kim: Thuan, you hit a record $2.47

Business 74

Business Retail Realtors Loan Officers 74

Housing Wire

JULY 25, 2023

Loan officers — myself included — need to strengthen their mindset. When you look at a sales contract that is obtaining mortgage financing, 70% of the components of that offer are mortgage-related. For 2023, we feel that we are going to end the year very strong. MW: I think the misconception is self-inflicted.

Real Estate Agent 338

Real Estate Agent Mortgage Real Estate Training 338

Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. The survey results had a comparison of 2022 and 2023, which was very interesting. Updates to AIR and these FAQs were published in August 2023.

Appraisal 81

Appraisal Real Estate Agent Contracts Real Estate 81

Housing Wire

JUNE 15, 2022

The lender expects to turn a profit this year by reducing costs upwards of 30% through a renegotiation of worker contracts, but not through layoffs. trillion in 2023. More layoffs to come. “The industry was already trying to rightsize from a $4 trillion market to a $2.5 trillion in 2022 and $2.3

Mortgage 384

Mortgage Investors Clients Marketing 384

Housing Wire

FEBRUARY 3, 2022

Analysts at Cider Knoll Holdings , an equity research firm specializing in nonbank mortgage originators, project earnings per share for 10 nonbank mortgage companies to contract 30% in the fourth quarter, compared to the previous quarter. The pessimism about nonbank mortgage lenders reflects market conditions.

Mortgage 384

Mortgage Retail Finance Investors 384

Housing Wire

JANUARY 27, 2023

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. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 397

Lending Real Estate Agent Loan Officers Retail 397

Housing Wire

NOVEMBER 17, 2022

Contract or ‘gig’ workers, entrepreneurs and business owners need non-QM mortgages because they may be unable to produce the W-2 tax form used to verify qualifying income for a traditional loan. At Deephaven, we are continuously running webinars to bring new loan officers into the non-QM fold.

Lending 368

Lending Investors Real Estate Agent Loan Officers 368

Housing Wire

AUGUST 16, 2023

Most of the publicly traded IMBs cut costs in the first half of 2023, and several pledged to keep sharpening their knives. The speed of the rate hikes has shrunk gain-on-sale margins because mortgage companies haven’t contracted quickly enough to offset falling demand. As such, it’s unlikely that we’ll reach $1.8 UWM originated $31.8

Retail 370

Retail Real Estate Agent Business Mortgage 370

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 284

Construction Retail Mortgage Contracts 284

Housing Wire

JULY 19, 2023

The pace of M&A deals in the IMB market in 2022 and projected for 2023 combined is expected to be more than double the mark set during the unicorn lending years of 2020 and 2021, according to one recent industry analysis. As the heat rises, so too does the number of lenders seeking to exit the market.

Mortgage 370

Mortgage Marketing Buyers Lending 370

Appraisal Today

SEPTEMBER 8, 2023

Appraisers are being told by their AMC clients and loan officers to appraise these as residential properties. First finished homes projected to be finished in September, 2023.What Interesting that the Fannie change came out September 7. == New in the September 2023 issue of Appraisal Today Appraisers vs. Lenders.

Appraisal 79

Appraisal Contracts Business Construction 79

Appraisal Today

AUGUST 13, 2023

I have written about it before in these email newsletters. == New in the August 2023 issue of Appraisal Today Annual E&O/Liability Issue E&O Insurance Update 2023 – Claims, Disclaimers, Discrimination, etc 2023 E&O Insurance – Where to get, what to look for in a policy, etc. Click here for more info!

Appraisal 74

Appraisal Contracts Real Estate Agent Mortgage 74

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. For example, within these firms, there are occupations such as loan officers, loan interviewers, title-related occupations, and loan counselors that could apply to both mortgage and non-mortgage lending.

Lending 384

Lending Mortgage Real Estate Loan Officers 384

Appraisal Today

JANUARY 12, 2024

over the course of 2024, declining from the 2023 average of 6.9%. The small rate declines expected will aid affordability to a minor degree after the surge in housing costs for buyers in 2022–2023. Marketing to private money lenders Remember the old mortgage broker days of visiting an office and chatting with loan officers?

Appraisal 67

Appraisal Contracts Mortgage Marketing 67

Appraisal Today

MAY 12, 2023

To read more about this topic from the March 2023 newsletter, plus 2+ years of previous issues, subscribe to the paid Appraisal Today. After the economy produced 800,000 jobs in the first two months of 2023, they shifted the forecast to a slight recession during the second half of the year. Mortgage applications increased 6.3

Appraisal 52

Appraisal Architecture Business Contracts 52