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How loan originators survived a cutthroat mortgage business in 2023

Housing Wire

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. Coming off of the pandemic banner years, thinning origination volume, low inventory and soaring home prices made business much harder to come by for LOs in 2023.

Business 398
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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.

Mortgage 296
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Majority of recent homebuyers have regrets: survey

Housing Wire

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We People who are planning to buy a home by the end of 2025 expect to pay $483,490 on average, but 52% of those who have purchased since the start of 2023 have spent more than $500,000.

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Compass misses free cash-flow goal but remains optimistic

Housing Wire

Although Compass failed to achieve its much publicized goal of being free cash-flow positive in 2023, brokerage executives were still positive about the company’s performance over the past year. Compass attributed some of these struggles to the slower housing market of 2023, which saw Compass close 178,848 transactions, down 15.5%

Agents 322
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Catch the No. 1 purchase mortgage originator on stage at HW Annual 2023

Housing Wire

More critical than training on skills is training on having a strong mindset,” said Matt Weaver. So, if I can deliver faster than the other offer, the seller is going to select our offer over the competitor’s. For 2023, we feel that we are going to end the year very strong. Mindset is everything. Weaver is the No.

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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Filed in late 2023 in Missouri by Daniel Umpa, a Maryland home seller, the Umpa suit , like the other commission lawsuits, accuses real estate industry players, including Real, of conspiring to artificially inflate real estate agent commissions. The Real Brokerage closed $14.4

Brokerage 339
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6 best real estate lead generation websites for 2023

Housing Wire

Whether you’re a seasoned real estate agent looking to expand your reach or a newcomer eager to establish your digital footprint, ahead we delve into the best real estate lead generation websites for 2023. Buyer and seller-specific landing pages: You’ll want a site that offers visitor-specific content pages. month + $249.95