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 384

Loan Officers Development Investors Finance 384

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 354

Investing Mortgage Lending Loan Officers 354

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. Now that the market has turned, do you see any challenges for your purchase call center agents ?

Retail 329

Retail Business Agents Loan Officers 329

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. Hanson will also be responsible for the company’s originator-led field-level marketing capabilities.

Marketing 352

Marketing Development Mortgage Loan Officers 352

Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. and 2024 at 6%.

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

Housing Market 401

Housing Market Marketing Contracts Finance 401

Housing Wire

AUGUST 1, 2023

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. And Rocket is well aware.

Loan Officers 365

Loan Officers Retail Real Estate Agent Real Estate 365

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. We are in a tough market.”. Caliber did not respond to requests for comment.

Loan Officers 404

Loan Officers Development Mortgage Finance 404

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. Users are “cookied” to the loan officer who shares the app with them, Ciardelli explained.

Loan Officers 414

Loan Officers Mortgage Technology Realtors 414

Housing Wire

SEPTEMBER 8, 2022

When mortgage lenders are talking about compliance in loan origination or mortgage servicing, the worst case can be pretty bad, so we often see companies investing heavily in the best tools. Mike is an experienced mortgage loan officer. Without marketing automation, he probably would have been right. Not anymore.

Business 418

Business Marketing Technology Tools 418

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 390

Advertising Lending Loan Officers Law 390

Housing Wire

JULY 27, 2022

These developments have essentially brought refinance originations to a screeching halt. A lack of available revenue will help separate companies that excel in execution from those whose success has derived mostly from a favorable market. as well as rent, depreciation, general & administrative, marketing and other fixed expenses.

Mortgage 364

Mortgage Marketing Lending Business 364

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.

Brokerage 369

Brokerage Business Loan Officers Legal 369

Housing Wire

DECEMBER 27, 2023

The California-based retail lender has set a target of becoming a top-10 lender in the markets in which it has a presence, which would give it about 2% in overall market share. 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.

Mortgage 396

Mortgage Retail Lending Sellers 396

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 519

Mortgage Marketing Retail Lending 519

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 1, 2022

Inlanta was planning to expand in the summer, but the company failed to stay afloat amid worsening market conditions. 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.

Mortgage 368

Mortgage Loan Officers Buyers Business 368

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 316

Loan Officers Business Mortgage Clients 316

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. 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.

Investors 409

Investors Real Estate Lending Loan Officers 409

Housing Wire

FEBRUARY 1, 2023

“The streamlined process and certainty One-Time Close New Construction loans offer is unmatched and will set brokers up to be the hero with builders, real estate agents and contractors, and get their borrowers in their dream home,” Mat Ishbia , president and CEO of UWM, said in a statement. UWM, which originated $33.5 for credit reports.

Construction 393

Construction Real Estate Agent Loan Officers Legal 393

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 362

Mortgage Loan Officers Development Housing Market 362

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 378

Technology Lending Valuation Mortgage 378

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 375

Mortgage Retail Loan Officers Brokerage 375

Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” Despite higher mortgage rates , demand for FHA and VA loans has been on the rise. “VA loans are probably the best loans on the market.

Agents 448

Agents Sellers Buyers Finance 448

Housing Wire

APRIL 12, 2024

Nominations for HousingWire’s 2024 Marketing Leaders are open until April 30, 2024. If there’s one word to describe today’s successful marketers in mortgage and real estate it’s “adaptable.” HousingWire’s Marketing Leaders award recognizes the industry’s top marketers who have perfected the art of adaptability.

Loan Officers 293

Loan Officers Lending Real Estate Marketing 293

Housing Wire

AUGUST 25, 2022

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But the reality is Homepoint – like some of its peers – is going to lose market share as it attempts to right the ship. Homepoint is in a tough spot. Homepoint is hardly alone.

Mortgage 392

Mortgage Loan Officers Finance Investors 392

Housing Wire

APRIL 10, 2024

Nominations for the 2024 Marketing Leaders award are open now through April 30. This prestigious accolade recognizes the visionaries, innovators and strategists who have set new standards of marketing excellence in mortgage and real estate. She is always strategizing for the future to stay one step ahead of current market trends.

Marketing 353

Marketing Loan Officers Real Estate Training 353

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

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. Economic conditions, however, are opening up space for new entrants eyeing market share. Their retreat opens up opportunities for rival firms to grab market share. Part I explains the jumbo market’s decline.) Part I explains the jumbo market’s decline.)

Marketing 340

Marketing Retail Mortgage Investors 340

Housing Wire

APRIL 16, 2024

In a down market disrupted by the commission lawsuits, agents and LOs are considering working in a dual capacity. As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground.

Real Estate Agent 435

Real Estate Agent Loan Officers Real Estate Agents 435

Housing Wire

FEBRUARY 9, 2023

The 2023 market is unlike those we’ve seen in previous years. In a market like this, every lead, loan and basis point matters more than ever for LOs. Dave Savage , chief innovation officer for Mortgage Coach and Sales Boomerang , described today’s market as a new era in the mortgage business — the advice era.

Loan Officers 369

Loan Officers Real Estate Agent Real Estate Clients 369

Housing Wire

JANUARY 22, 2024

Coggiola’s efforts were focused on developing Ellie Mae to become a software-as-a-service (SaaS) provider from an on-premise solution, rounding out his time there as SVP of product management. Mortgage capital market operations are ripe for innovation. before it was acquired by ICE in 2020.

Technology 361

Technology Mortgage Loan Officers Clients 361

Housing Wire

JANUARY 4, 2024

A lot was built around those foundational technologies for what we have today in the Mello system, in the stack that our loan officers love and appreciate. On efficiency, let me start within the technology organization, because software development takes a lot of effort.

Technology 327

Technology Loan Officers Modernization Development 327

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 384

Lending Real Estate Agent Loan Officers Retail 384

Housing Wire

NOVEMBER 28, 2023

billion in the third quarter of 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. Since 2014, the CFPB and the Office of the Comptroller of the Currency (OCC) ordered the bank to pay more than $1.1

Law 432

Law Mortgage Loan Officers Lending 432

Housing Wire

OCTOBER 31, 2023

HousingWire: According to ICE Mortgage Technology’s 2023 Borrower Insights Survey, fewer than one in 10 borrowers want a fully digital experience (9%) despite many appreciating the convenience of digital processes and services. HW: How does ICE approach its digital strategy and product development? Everything should be in sync.

Technology 395

Technology Tools Loan Officers Development 395

Housing Wire

MAY 3, 2023

The 25 bps hike was widely expected by Wall Street, as the macroeconomic policy crafters have yet to break the labor market and inflation levels are still considered elevated at 5%, far above the 2% target. Existing home sales in particular have been paltry in 2023, largely due to low levels of inventory.

Real Estate Agent 380

Real Estate Agent Inventory Loan Officers Mortgage 380