Remove 2023 Remove Loan Officers Remove Real Estate Agent Remove Realtors
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DataDigest: There are too many real estate agents and LOs. It’s a problem

Housing Wire

You know what loan officers and real estate agents love almost as much as cashing a commission check? Complaining about other loan officers and real estate agents. million Realtors competing for about 4.2 trillion in 2023. And they have good reasons to do so.

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Rocket Mortgage plans to hire 500 remote LOs by the end of 2023

Housing Wire

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.

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LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

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.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

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.

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Surefire CRM error results in 600K errant, unsolicited messages: sources

Housing Wire

Because of an apparent error made by staff at ICE Mortgage Technology ‘s Surefire customer relationship management (CRM) platform, more than 600,000 emails and texts were sent without permission to real estate agents, business partners and past clients of loan officers around the country.

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How top LOs plan to beat the odds in 2023

Housing Wire

“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. LOs are aligning their strategies to target the purchase market, as rates are not expected to drop in a meaningful way in 2023.

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Here’s how wholesale lenders and brokers are navigating near-8% mortgage rates

Housing Wire

Some of these professionals spoke to HousingWire during AIME Fuse 2023, an Association of Independent Mortgage Experts conference held Oct. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans. 4-7, in Las Vegas. “It’s hard for brokers to win deals now.

Mortgage 473