Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Fitch Ratings expects a challenging 2023 — at least in the near term — while the industry right-sizes from the $4 trillion production volume that occurred during the pandemic boom years.

Housing Market 450

Housing Market Marketing Insurance Mortgage 450

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2

Business 410

Business Loan Officers Clients Inventory 410

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory. in 2023, peaking to 6.5%

Renovations 410

Renovations Realtors Construction Mortgage 410

Housing Wire

APRIL 18, 2023

When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. Read on to learn more about New American Funding’s business model of outside distributed retail, their in-house tech stack rebuild, its expansions plans and prospects in 2023. Is NAF done rightsizing?

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%

Loan Officers 397

Loan Officers Investors Mortgage Clients 397

Housing Wire

MARCH 31, 2022

And several loan officers who spoke to HousingWire this week said they had clients lock rates in the 5.1% The central bank has signaled that it will raise interest rates another six times this year and several more in 2023 to control inflation, which reached the highest level in 40 years in February, at 7.9%.

Supply Chain 512

Supply Chain Mortgage Inventory Loan Officers 512

Housing Wire

MAY 25, 2023

The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements. However, its monthly production declined by a third during this period when the market faced surging mortgage rates and low inventory levels.

Business 384

Business Mortgage Loan Officers Inventory 384

Housing Wire

JULY 18, 2023

Since signing on to The Agency in mid-July, she has already brought $5 million in existing home inventory online and $8 million in builder listings to the firm. With a decade of experience as an agent, Wilbanks entered the industry after working as a residential mortgage loan officer. and Mexico.

Agents 370

Agents Loan Officers Brokerage Clients 370

Housing Wire

MARCH 6, 2023

He was cautiously optimistic for a better 2023. The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. of loans in October, according to the MBA. For the week ending Feb.

Loan Officers 384

Loan Officers Inventory Real Estate Agent Buyers 384

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

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgage 384

Mortgage Loan Officers Inventory Retail 384

Housing Wire

APRIL 16, 2024

That’s because those were the two lowest case number assignment months in all of 2023, McCue said. Case numbers, product types In terms of case numbers, the low-issuance months at the end of 2023 served as a bit of a telegraph, McCue noted. With that said, you shouldn’t be too surprised to see endorsements fall off in February.

Retail 404

Retail Mortgage Business Loan Officers 404

Housing Wire

JANUARY 9, 2024

Rocket Pro TPO affirmed that it will continue to provide credit reports at no cost for brokers when closing loans through Rocket recognizing that credit report fees are going to get more expensive this year. That price is higher than it was in 2023.

Loan Officers 336

Loan Officers Real Estate Agent Tools Business 336

Housing Wire

AUGUST 28, 2023

The company had 227 active loan officers and originated $830 million in the last 12 months. million in Q2 2023, an improvement from the loss of $37.2 Of the total origination volume in the period, purchase mortgages accounted for 82% and refis consisted of 15%, the data shows. million in the previous quarter.

Mortgage 370

Mortgage Retail Loan Officers Construction 370

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.

Mortgage 370

Mortgage Loan Officers Lending Retail 370

Housing Wire

SEPTEMBER 22, 2022

Goldman Sachs predicts a 75 bps hike at the November meeting followed by a 50 bps raise in December and a 25 bps increase in January 2023. months to exhaust the current inventory of existing homes at last month’s sales pace. Interest rates can move higher as the economy stays firm, Logan Mohtashami, Lead Analyst at HousingWire said.

Mortgage 421

Mortgage Loan Officers Buyers Inventory 421

Housing Wire

FEBRUARY 12, 2024

HousingWire: What were some of the challenges faced by lenders in 2023, and what is the outlook for 2024? Amanda Phillips: 2023 was a year of trials and tribulations for financial institutions. While the challenge of low housing inventory persists across the country, I have a feeling loan officers will be busier.

Mortgage 409

Mortgage Technology Inventory Lending 409

Housing Wire

FEBRUARY 10, 2023

Beret Kechian, loanDepot ’s top producer and branch manager, is joining a slew of mortgage loan originators who are cautiously optimistic about the mortgage landscape in 2023. Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans.

Mortgage 473

Mortgage Real Estate Agent Renovations Finance 473

Housing Wire

AUGUST 3, 2023

Rocket Companies , the parent of Rocket Mortgage , returned to profitability in the second quarter of 2023 driven by an increase in the purchase mortgage market share and expense cuts in business lines that aren’t profitable. billion in origination volume in Q2, up about 31% from $17 billion in Q1 2023. Rocket generated $22.3

Clients 368

Clients Business Inventory Mortgage 368

Housing Wire

NOVEMBER 10, 2023

Many homebuyers are aware of the lack of inventory of existing homes for sale, he explained. The biggest question in the minds of loan originators is whether mortgage rates will fall through the end of 2023, providing some reprieve from the high-rate environment that has stifled origination volume for much of the year.

Mortgage 432

Mortgage Inventory Marketing Retail 432

Housing Wire

MARCH 30, 2023

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. We want to sustainably grow throughout 2023.

Mortgage 397

Mortgage Retail Loan Officers Brokerage 397

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. trillion in new loans in 2020 and $3.9 trillion in 2023.

Housing Market 421

Housing Market Marketing Loan Officers Mortgage 421

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. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? I think 2022 and 2023 are equally tough years.

Retail 370

Retail Inventory Mortgage Loan Officers 370

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 432

Business Mortgage Loan Officers Inventory 432

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Lending 445

Lending Tools Inventory Renovations 445

Housing Wire

JULY 20, 2023

Lenders point to cost-cutting as their top business priority amid the mortgage industry facing a number of challenges – including high home prices , tight inventory of homes available for sale and interest rate hikes.

Lending 370

Lending Technology Business Construction 370

Housing Wire

JULY 26, 2023

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We Tight inventory and soaring home prices have pushed more homebuyers to more affordable areas in California. Check out Han’s excellent feature here.

Insurance 370

Insurance Housing Market Marketing Supply Chain 370

Housing Wire

SEPTEMBER 30, 2022

Lenders will close and some others will need to merge because of the new liquidity regulations that are coming in 2023.”. Pressure on rates has sharply reduced demand for mortgage loans, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume , declined 3.7%

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

SEPTEMBER 23, 2022

trillion in 2023 will look awfully rosy. “Given the magnitude of the move in rates, we think there could be a downside to current estimates for industry volumes in 2023.” trillion in 2023. You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range.

Housing Market 370

Housing Market Marketing Mortgage Buyers 370

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

There are now fewer possible borrowers considering refinances due to the increased interest rates, while most potential purchasers are encountering low inventory that has led to multiple bids on properties, cash offers and ongoing searches.

Mortgage 384

Mortgage Marketing Lending Business 384

Housing Wire

SEPTEMBER 22, 2023

With the majority of Fed officials expecting another rate hike before the end of 2023, how do you think this decision will affect housing and your forecast for the economy? Kim: The silver lining in the current housing market is an uptick in new construction sales due to a lack of existing-home inventory. So it happens quietly.

Housing Market 450

Housing Market Marketing Buyers Investors 450

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. of its originations were purchase loans last year. The closer, the better. in consumer direct and 2.3% year-over-year.

Mortgage 522

Mortgage Marketing Retail Lending 522

Housing Wire

JUNE 1, 2023

That dour performance mirrors what’s happening in the primary mortgage market — where origination volume is down drastically year to date in 2023. So, that’s why you’ve see them [IMBs] all cut material amounts of headcount in their origination channels and their loan officers, etc., KBRA projects that 2023 RMBS 2.0

Real Estate 384

Real Estate Mortgage Marketing Inventory 384

Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.

Mortgage 450

Mortgage Loan Officers Inventory Business 450

Housing Wire

AUGUST 23, 2023

Rates at the 7% or 8% level could spur a reduction in home prices, but current inventory issues have limited this impact. Here we are, heading into the fourth quarter of 2023 expecting more rate hikes, not any cuts,” Cohn said. In August 2023, its latest forecast was for rates to end the year at 6.2%. Inventory remains thin.

Mortgage 370

Mortgage Loan Officers Inventory Housing Market 370