Housing Wire

JANUARY 3, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services issued pink slips to more than 80 employees in November as it faced tough headwinds in 2023. The WARN Notice shows that the workforce reduction includes 10 loan officers , senior app developers and vice presidents of app development, talent sourcing and sales manager.

Loan Officers 420

Loan Officers Development Investors Finance 420

Housing Wire

FEBRUARY 21, 2024

helped grow that company’s division after a series of changes and a reorganization of its leadership structure in 2023. I am looking forward to bringing the knowledge and the HECM Tool software to help C2 loan officers accelerate their success and serve their clients at a higher level.”

Mortgage 410

Mortgage Loan Officers Clients Lending 410

Housing Wire

APRIL 30, 2024

In the midst of a higher-for-longer mortgage rate environment that is reshaping the landscape of the mortgage industry, the role of a chief marketing officer (CMO) becomes increasingly pivotal as mortgage companies navigate market fluctuations and changing consumer behaviors. Instead, we invest heavily in empowering our loan officers.

Loan Officers 421

Loan Officers Technology Modernization Project Management 421

Housing Wire

JANUARY 30, 2024

The deal that runs through 2028 includes more than $1 billion for community development lending and services, investments in affordable housing , revitalization and stabilization, and projects that create jobs in LMI areas. In its previous five-year plan, from 2018 to 2023, the bank invested $1.75

Investing 404

Investing Mortgage Lending Loan Officers 404

Housing Wire

JANUARY 19, 2024

6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

Human Resources 456

Human Resources Mortgage Loan Officers Finance 456

Housing Wire

APRIL 18, 2023

Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house. Were there additional layoffs in 2023? But there have been rough points for the lender recently, too.

Retail 367

Retail Business Agents Loan Officers 367

Housing Wire

SEPTEMBER 12, 2023

After two of the most challenging years in recent history, economists and analysts project a shift in the mortgage market toward the end of 2023, Hoff said. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. Meanwhile, economists at Fannie Mae expect rates to end 2023 at 6.7%

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Loan Officers Investors Mortgage Clients 397

Housing Wire

JANUARY 10, 2024

“Unfortunately, we do not see this change taking place within the base period or extended base period of the Community Economic Development Agreement (CEDA),” Allen noted. The JDIG agreement authorized the potential reimbursement to Pennymac of up to $1.9 million over the course of 12 years. The lender’s U.S.

Investing 391

Investing Development Tenants Loan Officers 391

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

Eyes on Housing

NOVEMBER 13, 2023

During the third quarter of 2023, availability of loans for residential Land Acquisition, Development & Construction (AD&C) continued to tighten, according to both NAHB’s survey on AD&C Financing and the Federal Reserve’s survey of senior loan officers.

Loan Officers 179

Loan Officers Construction Finance Development 179

Housing Wire

SEPTEMBER 24, 2022

Pink slips were issued to workers in the learning and development team, developers and support staffers in the IT department, as well as loan officers, multiple current and former employees told HousingWire. Caliber did not respond to requests for comment. Flávia Furlan Nunes contributed reporting.

Loan Officers 410

Loan Officers Development Mortgage Finance 410

Housing Wire

APRIL 1, 2024

” “In November 2023, Mr. Grella requested and agreed with NEXA to a buyout of his membership interest in NEXA and its subsidiary companies, which include the ongoing aviation business that Mr. Grella was also approved of which NEXA currently leases an aircraft hangar ,” Kortas said. of the company and Grella had a 49.5%

Brokerage 417

Brokerage Business Loan Officers Legal 417

Housing Wire

FEBRUARY 6, 2024

In 2023, the bank originated about $2.3 billion in mortgages, primarily conventional and purchase loans, per tech platform Modex. The complaint adds that the bank did not track how its mortgage loan officers developed loan referrals or how they distributed the marketing materials.

Advertising 410

Advertising Lending Loan Officers Law 410

Housing Wire

OCTOBER 9, 2023

More than a mortgage app Developed by the company’s in-house technology team, the Rate App took two-and-a-half years to bring to market and an investment of “millions of dollars,” Ciardelli said, though he declined to provide a specific figure. Delivering value to stay relevant So what is the new app’s business benefit for loan officers?

Loan Officers 421

Loan Officers Mortgage Technology Realtors 421

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. Starting March 1, 2023, servicers will be required to maintain data on borrowers’ age, race, ethnicity, gender and preferred language.

Lending 384

Lending Finance Loan Officers Legal 384

Housing Wire

JULY 12, 2023

Deran Pennington, who spent the last 15 years at Movement and until June 2023 held a national sales director position, is joining Summit as a divisional leader in Charlotte. mortgage lender in the first quarter of 2023, per Inside Mortgage Finance (IMF) estimates. The company originated $4.1 billion from January to March, down 39.4%

Retail 370

Retail Development Finance Lending 370

Housing Wire

DECEMBER 27, 2023

United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. By the same measure, Guild had just 1.1%

Mortgage 421

Mortgage Retail Lending Sellers 421

Housing Wire

DECEMBER 23, 2022

With Fannie Mae and other organizations predicting a tough outlook for 2023’s housing market, loan officers should be looking to get their name out in front of as many potential borrowers as possible in order to secure business. What should your content look like? And Reels should be a bit more produced and polished.

Loan Officers 363

Loan Officers Business Mortgage Clients 363

Housing Wire

DECEMBER 1, 2022

Layoffs at the site in Pewaukee, Wisconsin are “expected to commence on November 29, 2022, and to proceed until completion of wind-down in early 2023,” Buege said. The letter showed that the first round of layoffs will start on December 2 and will impact marketing staff, loan processors, underwriters and a loan officer.

Mortgage 397

Mortgage Loan Officers Buyers Business 397

Housing Wire

FEBRUARY 1, 2023

UWM – which took the origination crown from competitor Rocket Mortgage in the third quarter thanks to its aggressive pricing strategy – also took another big step recently to reduce prices in 2023. The lender is offering a maximum of 40 basis points per loan to its brokers, with a total access to 125 bps, to gain market share.

Construction 397

Construction Real Estate Agent Loan Officers Legal 397

Housing Wire

OCTOBER 4, 2023

When asked to recommend AI application ideas for the government-sponsored enterprises (GSEs) to develop for the mortgage industry, lenders pointed to appraisal automation, borrower income/employment verification , data/documentation reconciliation and standardization, and compliance management.

Technology 409

Technology Lending Valuation Mortgage 409

Housing Wire

NOVEMBER 2, 2023

Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years. Our expectation is that volume will be around $30 billion when 2023 comes to a close. While we have had our challenges, non-QM has been more insulated than agency.

Investors 449

Investors Real Estate Lending Loan Officers 449

Housing Wire

DECEMBER 7, 2022

The recent declines in mortgage rates brought a glimmer of hope that borrowers might be developing more of a stomach for home loans. But even with the drop in rates to the mid-6s, the market is still nowhere near ‘normal,’ and consequently, industry experts predict a long, cold winter for loan officers.

Mortgage 370

Mortgage Loan Officers Development Housing Market 370

Housing Wire

APRIL 12, 2024

Marketers like 2023 Marketing Leader and USA Mortgage’s Senior Vice President of Marketing, Chelsea Vonder Haar , who has been a driving force behind USA Mortgage’s marketing success. Chelsea Vonder Haar: We tailor our marketing strategy based on the individual loan officer and the details of the market they are in.

Loan Officers 329

Loan Officers Lending Real Estate Marketing 329

Housing Wire

FEBRUARY 26, 2024

CalCon Mutual Mortgage LLC , doing business as OneTrust Home Loans, originated $1.07 billion in volume across 2,747 units in 2023, according to data platform Modex. In the latest development, the court ordered the denial of the motion without prejudice to seeking relief complaint.

Retail 421

Retail Legal Lending Business 421

Housing Wire

MAY 31, 2023

California-based lender loanDepot has promoted Alec Hanson , the company’s senior vice president of production for the West division, to the role of chief marketing officer. In its latest Q1 2023 earnings call , loanDepot posted a loss of $60.2

Marketing 370

Marketing Development Mortgage Loan Officers 370

Housing Wire

NOVEMBER 7, 2023

Despite higher mortgage rates , demand for FHA and VA loans has been on the rise. Of the $400 billion mortgage origination volume in the second quarter of 2023, FHA and VA share of loan volume consisted of 22.9%, up from 18% in Q2 2022, data from Inside Mortgage Finance (IMF) and the Urban Institute showed.

Agents 458

Agents Sellers Buyers Finance 458

Housing Wire

NOVEMBER 27, 2023

The drop in prepayment speeds indicates mortgage servicing rights (MSR) amortization expense should continue to decline, a positive development for mortgage companies with large servicing fee revenue streams. Piper Sandler estimates the median monthly payment is now $2,313 as of October 2023.

Mortgage 420

Mortgage Investing Government Real Estate 420

Housing Wire

MARCH 30, 2023

I developed a ton of great relationships over that time there. My perspective is, you need to have companies that are willing to open up that credit risk profile in order to help your loan officers bring in volume. In a market where every loan counts, that’s a great resource for loan officers to have those outlets.

Mortgage 397

Mortgage Retail Loan Officers Brokerage 397

Housing Wire

OCTOBER 5, 2023

That offering, Unlock HEA Trust 2023-1, is slated to close this week. trillion, which is near 2022 peaks, according to Black Knight ’s August 2023 Mortgage Monitor report “Generally, if there is increasing home prices [as has been the case], we see an increase in home equity,” said Selma Hepp, CoreLogic’s chief economist. “So,

Housing Market 421

Housing Market Marketing Contracts Finance 421

Housing Wire

JULY 27, 2022

These developments have essentially brought refinance originations to a screeching halt. Is there a way to ensure that you can be competitive from a price standpoint, that your loan officers are making sufficient commissions to earn a living, and that you make enough margin to keep the business afloat?

Mortgage 384

Mortgage Marketing Lending Business 384

Housing Wire

SEPTEMBER 8, 2022

Mike is an experienced mortgage loan officer. In 2000, Mike’s company used a CRM capable of automating the marketing for its loan officers. Developers don’t understand sales in our industry. He is alive and well and still originating loans in Seattle. Mike Jameson doesn’t think this, however. Not anymore.

Business 432

Business Marketing Technology Tools 432

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. ” Just a little less vanilla. Homepoint has decided to pause on entering the non-QM fray.

Mortgage 397

Mortgage Loan Officers Finance Investors 397

Housing Wire

MAY 1, 2023

HousingWire is excited to announce the 2023 class of Rising Stars! Congratulations to the 2023 Rising Stars! In its tenth year, this industry award is showcasing the up-and-coming leaders in housing who have had major accomplishments all before the age of 40.

Real Estate 370

Real Estate Loan Officers Development Realtors 370

Housing Wire

APRIL 14, 2022

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. But Woodward struggled to originate purchase loans. “I Without that being built, I was starting from scratch.

Mortgage 522

Mortgage Marketing Retail Lending 522

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%. according to the company.

Real Estate Agent 465

Real Estate Agent Loan Officers Real Estate Agents 465

Housing Wire

APRIL 10, 2024

Debbie launched the marketing campaign for “A Seat at the Closing Table,” designed to train loan officers on the nuances of working with underserved borrowers and to offer toolkits and templates that will help them close more loans in minority communities.

Marketing 411

Marketing Loan Officers Real Estate Training 411