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Retail reverse mortgage production took a hit in January

Housing Wire

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

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Opinion: Why aren’t more commercial brokerages seeking affiliated arrangements?

Housing Wire

In fact, there aren’t many mortgage lenders, builders or real estate brokerages that haven’t at least fleetingly entertained the notion. Office buildings, retail spaces, industrial complexes and other CRE properties generally command higher price tags and offer greater revenue-generating potential compared to residential properties.

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With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders. Learning to utilize that technology for a database that can be used to maintain constant contact with clients and retain business was crucial, Smallwood said. “We’re

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On Q Financial to form JV with former New Rez partners

Housing Wire

Arizona-based lender On Q Financial will form a multi-partner mortgage banking joint venture with HomeCo Partners , a consortium of real estate brokerages and a builder, HousingWire has learned. Unlike a traditional JV model, the consortium model doesn’t require real estate brokerages or builders to make a large upfront investment to start.

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What mortgage lenders need to know about wholesale

Housing Wire

Desmond Smith: There are two ways to get a mortgage — wholesale or retail. Retail lending is when you walk into a bank branch or go to an online lender, and they help you get a mortgage. Consumers who use a mortgage broker instead of a retail lender save $9,400 over the life of the loan and that increases to $10,400 for minorities.

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Side’s Guy Gal on championing the high-volume real estate agent

Housing Wire

When we looked at the industry, every brokerage that existed served the 1.3 million agents who were part-time and not as experienced, but no brokerage has ever been created and designed specifically to address the needs of those agents who are high volume. HousingWire caught up with Gal to talk about his alternative brokerage model.

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Former Guaranteed Rate SVP Ravi Patel and team join UMortgage

Housing Wire

. “Winners in this industry want to join our platform because we’re identifying the acute pain points of loan originators of different backgrounds—whether that be a retail shop or their own brokerage—and providing value-based solutions,” UMortgage President and CEO Anthony Casa.