Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .”

Loan Officers 414

Loan Officers Mortgage Retail Lending 414

Housing Wire

MARCH 5, 2024

John Abraham, former top-producing mortgage loan officer at Caliber Home Loans /NewRez , has joined The Money Store. The Money Store boasts a nimble lending platform, transparent loan process and highly competitive rates. million in volume in 2023, data from Modex showed. In 2022, Abraham ranked as the No.

Loan Officers 414

Loan Officers Retail Lending Mortgage 414

Housing Wire

AUGUST 17, 2023

Trius Lending Partners (no.678), At a time when refis dried up and loan officers are in desperate need of deals, some loan officers are leaning into buying leads — from companies including Zillow , Realtor.com and Freerateupdate.com. It’s a big improvement from the $1,972 loss per loan in Q1 2023.

Loan Officers 370

Loan Officers Mortgage Development Lending 370

Housing Wire

MAY 2, 2024

one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loan officers to ML Mortgage. Department of Agriculture (USDA) loans, as well as down payment assistance programs. One idea would be a ”builder that wants to add a lending arm,” he added.

Retail 414

Retail Loan Officers Mortgage Lending 414

Housing Wire

NOVEMBER 14, 2022

HousingWire spoke to Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions, about the outlook for non-QM in 2023 and why lenders should keep an eye on the non-QM space. The primary challenge for non-QM has been the extreme volatility in the secondary markets. HW: What is the outlook for non-QM in 2023?

Lending 423

Lending Investors Loan Officers Technology 423

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart. million in loan volume last year. “We

Lending 393

Lending Retail Loan Officers Mortgage 393

Housing Wire

SEPTEMBER 5, 2023

Despite difficulties in the mortgage market at large, non-QM lenders are seeing growth and opportunity. The non-QM demand for loans is very healthy,” Acra Lending CEO Keith Lind said. “We We are not seeing a similar volume trajectory as the agency market.” billion in 2023, an increase from $2.1 billion last year.

Marketing 393

Marketing Loan Officers Lending Brokerage 393

Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. The Detroit-based lender plans to recruit up to 500 LOs by the end of 2023, more than triple the current local LO pool.

Loan Officers 370

Loan Officers Mortgage Real Estate Agent Real Estate 370

Housing Wire

APRIL 12, 2023

Industry players are largely pessimistic about the economic climate and expect interest rates to trend up in the near term future, according to the HousingWire Q2 2023 LenderPulse survey. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced.

Mortgage 392

Mortgage Marketing Loan Officers Real Estate Agent 392

Housing Wire

FEBRUARY 7, 2024

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. million GAAP net income in 2023 — lower than the figure of $864.8 In 2023, Rithm acquired $1.4 million in 2023. billion in Q4 2023, lower than the $11.1

Valuation 414

Valuation Business Mortgage Loan Officers 414

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 442

Housing Market Marketing Insurance Mortgage 442

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. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Lending 441

Lending Tools Inventory Renovations 441

Housing Wire

SEPTEMBER 7, 2022

Setting your sights on the future is important for any business owner, agent or loan officer looking to find success in the ever-changing housing market. The Future of Marketing panel on Oct. Everything from social media and marketing to different generations of homebuyers will be covered during the panel.

Loan Officers 404

Loan Officers Advertising Technology Realty 404

Housing Wire

APRIL 25, 2023

Tavant , a Silicon Valley-based digital lending solutions provider, is adding a new product called Asset Analysis to its AI-powered digital lending platform, Touchless Lending. The new product is in the near-final stages of production and will be available in-market by the end of June 2023.

Lending 381

Lending Loan Officers Mortgage Investors 381

Housing Wire

DECEMBER 12, 2023

PrimeLending , a Texas-based retail mortgage bank, added 12 new loan originators as it attempts to grow market share within its existing Texas footprint. PrimeLending has been on a hiring spree to bring on high-performing LOs in 2023 to its existing branches. million) and Hugo Ortiz-Pulido ($21.21

Loan Officers 414

Loan Officers Retail Lending Mortgage 414

Housing Wire

JANUARY 17, 2023

The latest numbers have many in the industry starting the year on a hopeful note, with the possibility that we’ll see mortgage rates returning to the 5% range in 2023. The 5% market’s a healthy market,” said Anna Ruotolo, branch manager and senior loan officer at Synergy One Lending. “A Make a plan.

Loan Officers 404

Loan Officers Marketing Real Estate Agent Real Estate 404

Housing Wire

APRIL 29, 2024

” Republic collapsed after it failed to raise $75 million in capital from investors and exited the mortgage lending space. ” In July 2023 , the bank said that to enhance efficiency and streamline operations, it reduced its presence in New York and exited the mortgage banking business. Republic Bank is adding $5.3

Loan Officers 412

Loan Officers Insurance Mortgage Lending 412

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president. He left Rocket in the beginning of 2019.

Retail 414

Retail Lending Loan Officers Brokerage 414

Housing Wire

JANUARY 30, 2024

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

Investing 403

Investing Mortgage Lending Loan Officers 403

Housing Wire

OCTOBER 18, 2023

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. Well, it’s certainly been a down market. ” It doesn’t surprise me that wholesale has gained market share as refi activity has slowed. .” In Q2 2023, the number of valid LOs fell to 89,094.

Retail 510

Retail Loan Officers Brokerage Mortgage 510

Housing Wire

APRIL 30, 2024

In a low-volume mortgage origination market, some sellers “don’t have the balance sheet or their owners are not interested in legacy and continuity,” which is a different model than Lower’s, Snyder said. Founded in Denver in 1981, Universal added 60 loan officers to Lower.

Retail 414

Retail Loan Officers Lending Mortgage 414

Housing Wire

FEBRUARY 15, 2024

“We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. In third-quarter 2023 , it posted mortgage volume of $731 million, down from $900 million in Q2 2023 and $1.1 Eligible U.S.

Loan Officers 404

Loan Officers Finance Mortgage Lending 404

Housing Wire

MAY 6, 2024

According to the Nationwide Multistate Licensing System (NMLS), SHM provides home mortgage solutions in six states through a network of four branches and 62 licensed loan officers. Mortgage tech platform Modex shows the lender originated about $250 million in mortgages in 2023, compared to about $422 million the previous year.

Mortgage 424

Mortgage Retail Loan Officers Construction 424

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 423

Loan Officers Tools Business Clients 423

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. As we continue to grow our portfolio, we’ll use equity as well as debt … a lot of the banks that he works with also do commercial lending.

Realty 403

Realty Loan Officers Retail Real Estate 403

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 414

Housing Market Marketing Contracts Finance 414

Housing Wire

NOVEMBER 17, 2023

In court documents, Summit and Pennington admitted they signed a confidentiality agreement in March but denied other accusations, including that Pennington used information from Movement to target its loan officers matching characteristics that would fit Summit’s business. million in unpaid compensation. It originated $15.46

Loan Officers 412

Loan Officers Legal Retail Finance 412

Housing Wire

SEPTEMBER 15, 2023

The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries. In addition, the company has requested the return of commissions paid for loans that were originated but subsequently recaptured. Gifoli served as a loan officer from May 2021 to October 2021.

Loan Officers 404

Loan Officers Legal Real Estate Lending 404

Housing Wire

MAY 7, 2023

New listing data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023. New listing weekly data over the past three years: 2023: 58,432 2022: 76,691 2021: 73,291 New listing data from previous years to give you some historical perspective. didn’t go into recession until 2008.

Inventory 483

Inventory Housing Market Marketing New Listings 483

Housing Wire

DECEMBER 11, 2023

fair lending laws has been on regulators’ radar in recent years. According to the CNBC report, mortgage bankers at Wells Fargo would request pricing exceptions that typically lowered a customer’s Annual Percentage Rate (APR) by between 25 and 27 basis points to help secure deals in competitive markets. Wells Fargo paid $3.7

Mortgage 433

Mortgage Lending Law Loan Officers 433

Housing Wire

SEPTEMBER 13, 2023

Direct Capital, through its subsidiary Direct Mortgage , offers residential, commercial and SBA loans, per its website. The company has 98 loan officers and six branches, according to the National Multistate Licensing System (NMLS). And, in a shrinking mortgage market, it registered $1.8

Loan Officers 391

Loan Officers Investing Lending Mortgage 391

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. At least not in the foreseeable future, unless another pandemic would create favorable conditions for the housing market.

Renovations 404

Renovations Realtors Construction Mortgage 404

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 414

Mortgage Retail Lending Sellers 414

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 370

Retail Business Agents Loan Officers 370

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

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 370

Loan Officers Retail Real Estate Agent Real Estate 370

Housing Wire

APRIL 1, 2024

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. Based on 2023 numbers, that will give us 94% coverage of all purchase transactions that have happened in the country.

Loan Officers 414

Loan Officers Clients Mortgage Construction 414