Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. HW: How has wholesale changed over the past 2–3 years?

Mortgage 343

Mortgage Retail Lending Loan Officers 343

Housing Wire

OCTOBER 6, 2022

Keller Mortgage , the lending arm of real estate holding company kwx , is the latest firm to be hit by the rapidly decreasing demand for mortgages. On Monday, the company underwent a “mass layoff,” according to posts by former Keller Mortgage employees on LinkedIn. 30, mortgage applications decreased 14.2%

Mortgage 359

Mortgage Real Estate Loan Officers Brokerage 359

Housing Wire

JULY 16, 2021

The second big mortgage joint venture announcement this week is a meeting of the Glenns. Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The Mobile “Must-Haves” Reshaping Mortgage Technology. Presented by: SimpleNexus.

Mortgage 379

Mortgage Lending Brokerage Agents 379

Housing Wire

AUGUST 5, 2020

Last week, we published a story about United Wholesale Mortgage (UWM) offering 15-year fixed mortgage rates as low as 1.875% for purchases and refinances. For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. Others just wanted more details.

Mortgage 521

Mortgage Loan Officers Lending Advertising 521

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.

Retail 362

Retail Lending Loan Officers Brokerage 362

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. A spokesperson for District Lending did not immediately reply to a request for comment.

Contracts 414

Contracts Loan Officers Lending Retail 414

Housing Wire

MARCH 30, 2023

Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage , spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. Connie Kim: You had a long run at Wyndham Capital Mortgage dating back to 2011.

Mortgage 345

Mortgage Retail Loan Officers Brokerage 345

Housing Wire

APRIL 4, 2022

Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8 million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. The purchase price “represents a $72.5 Presented by: 1000watt.

Mortgage 365

Mortgage Real Estate Agent Loan Officers Agents 365

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. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 463

Mortgage Real Estate Agent Renovations Finance 463

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.” Freedom had to pay a $1.75

Brokerage 383

Brokerage Realty Real Estate Loan Officers 383

Housing Wire

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Recruiting battles for LOs remain fierce, mortgage executives and LOs told HousingWire.

Mortgage 441

Mortgage Brokerage Retail Business 441

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 366

Loan Officers Legal Real Estate Lending 366

Housing Wire

MARCH 14, 2023

Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. “They are currently a beacon of light in a mortgage industry that’s been dim for the last couple years.”

Loan Officers 370

Loan Officers Retail Brokerage Lending 370

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 Lind is projecting that Acra’s non-QM mortgage originations will increase to about $2.6 billion in 2023, an increase from $2.1

Marketing 321

Marketing Loan Officers Lending Brokerage 321

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lending.

Loan Officers 452

Loan Officers Lending Real Estate Brokerage 452

Housing Wire

OCTOBER 18, 2023

I asked the good folks at mortgage data technology firm InGenius to run the numbers. “There’s definitely a shift and while we know there is a lot of movement going on with people losing jobs because of mergers or closures, a certain percentage are moving to brokerage instead of another retail company.” Take a look.

Retail 509

Retail Loan Officers Brokerage Mortgage 509

Housing Wire

JULY 20, 2023

The mortgage industry continues to rightsize , and On Q Financial is taking it as an opportunity to expand through loan officer recruitment and tapping into its network of homebuilders. Following one major layoff and furlough in 2022, the Arizona-based lender eliminated costs and is positioned to grow revenue, executives said.

Loan Officers 234

Loan Officers Brokerage Real Estate Lending 234

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 349

Contracts Loan Officers Legal Best Value 349

Housing Wire

JANUARY 2, 2024

New York-based nonbank mortgage lender RealFi (formally known as Residential Home Funding Corp. However, two former employees said the company communicated it’s shutting down its mortgage lending business. “They have let branch managers and loan officers go and say they are transitioning to a broker [shop].”

Loan Officers 399

Loan Officers Lending Mortgage Insurance 399

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. The lender and LO can make or break the transaction.”

Buyers 374

Buyers Agents Loan Officers Real Estate 374

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

Retail 365

Retail Mortgage Loan Officers Marketing 365

Housing Wire

SEPTEMBER 11, 2023

Cliffco Mortgage Bankers is among the rare independent mortgage banks doing more business than last year. To get there, Cliffco, which has been in business since 1987, is going after the non-qualified mortgage ( non-QM ) market and investing in tech to get in front of buyers and non-agent referral partners.

Loan Officers 365

Loan Officers Agents Retail Technology 365

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. “I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. and is licensed in 50 states.

Loan Officers 310

Loan Officers Retail Lending Investing 310

Housing Wire

DECEMBER 11, 2023

Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. According to the CFPB, hundreds of loan officers at BofA failed to ask mortgage applicants demographic questions and falsely reported that they had chosen not to respond.”

Real Estate Agent 408

Real Estate Agent Real Estate Agents Lending 408

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options.

Legal 362

Legal Brokerage Mortgage Loan Officers 362

Housing Wire

NOVEMBER 3, 2021

The cloud-based brokerage recorded $1.1 The brokerage on Wednesday also announced that the launch of its residential lending joint venture Success Lending with Kind Lending, LLC has been approved in Colorado, Illinois and Tennessee. The brokerage was the fourth-largest in the U.S. year over year to $1.09

Brokerage 306

Brokerage Lending Realty Agents 306

Housing Wire

MARCH 16, 2022

Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage.

Retail 352

Retail Loan Officers Brokerage Technology 352

Housing Wire

JULY 12, 2023

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. But at 343,000 workers in May, the mortgage LO workforce remains quite elevated for the origination volume being produced. And there are north of 1.5

Real Estate Agent 370

Real Estate Agent Real Estate Agents Loan Officers 370

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 385

Mortgage Loan Officers Finance Investors 385

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Who wants to be in the mortgage business?

Buyers 398

Buyers Mortgage Sellers Investing 398

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. About 40% of his business came from refis in the summer of 2021 even when his focus was on purchase mortgages his entire career. But the boom times are over, and he knows it.

Housing Market 401

Housing Market Marketing Brokerage Real Estate 401

Housing Wire

JUNE 10, 2022

Lenders and mortgage tech companies have been cutting costs in the down market , but some firms have hired new executives who they hope will provide better strategies to navigate the shrinking loan origination market. For wemlo, his primary focus is to enhance the existing loan processing platform to improve user experience.

Marketing 361

Marketing Real Estate Agent Lending Real Estate 361

Housing Wire

FEBRUARY 24, 2022

Years before Mark Zuckerberg introduced the “Metaverse,” there was eXp, a cloud-based real estate brokerage where executives and agents appear on a computer screen as if they are characters in Second Life or The Sims. eXp founder and CEO Glenn Sanford reported a profitable year for a brokerage that is quickly growing.

Brokerage 360

Brokerage Agents Loan Officers Real Estate 360

Housing Wire

FEBRUARY 1, 2021

The wholesale mortgage lending division of Rocket Companies has launched a national mortgage broker directory on its website, providing potential leads to mortgage brokers and also poking at its biggest rival, United Wholesale Mortgage , in the process. A mortgage broker can be your trusted guide close to home. .”

Mortgage 259

Mortgage Loan Officers Advertising Real Estate Agent 259

Housing Wire

MARCH 16, 2022

California-based ICE Mortgage Technology announced this week two enterprise agreements to integrate its eClose solution to Maxwell and Roostify platforms, enabling a more streamlined closing process for lenders and borrowers. Encompass eClose will be part of the mortgage fintech Maxwell’s point-of-sale platform.

Technology 316

Technology Real Estate Agent Loan Officers Lending 316

Housing Wire

JUNE 8, 2022

Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market. Purchase loans grew from 24.9%

Mortgage 301

Mortgage Real Estate Agent Real Estate Clients 301

Housing Wire

JANUARY 5, 2021

SimpleNexus , a digital mortgage startup, announced on Tuesday that it picked up $108 million in a Series B funding around. The fund raise comes as the company attempts to increase its marketshare within the eClosing and mobile mortgage segments.

Architecture 386

Architecture Real Estate Agent Loan Officers Real Estate 386