Housing Wire

SEPTEMBER 11, 2023

Roughly 20% of Cliffco’s production comes from the wholesale channel and 80% of origination volume comes from its retail channel – through which it offers GSE, government loans and non-QM products. The lender has about 80 loan officers and aims to hire up to 100 in states.

Loan Officers 364

Loan Officers Agents Retail Technology 364

Housing Wire

JANUARY 27, 2023

Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​ Fairway Independent Mortgage to join Movement Mortgage. The company has used the cash to acquire new businesses, such as the indie retail lender Mortgage Network and the brokerage Superior Rate Mortgage of New England.

Retail 373

Retail Mortgage Loan Officers Brokerage 373

Housing Wire

JANUARY 25, 2024

Haddad’s nomination shows AIME’s commitment to attracting more retail loan officers to the broker channel. According to the trade group, under his leadership, it will focus, among other initiatives, on “retail to wholesale originator recruitment.”

Retail 361

Retail Lending Loan Officers Brokerage 361

Housing Wire

JANUARY 11, 2023

For most of 2022, UWM had an aggressive pricing strategy in place to gain market share and attract loan officers from the retail to the wholesale channel. With the Game On initiative, the lender slashed prices across all loans by 50 to 100 basis points. . ” .

Loan Officers 437

Loan Officers Retail Real Estate Agent Government 437

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. ” While at Guaranteed Rate, Patel and his team closed more than 250 loans in 2022 and increased the purchase volume by 20% from 2021.

Loan Officers 370

Loan Officers Retail Brokerage Lending 370

Housing Wire

APRIL 26, 2023

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.

Real Estate 388

Real Estate Brokerage Retail Business 388

Housing Wire

MARCH 30, 2023

Just having those additional layers in the retail model really creates strain there,” Kirby said in an interview. I think maybe if you look back a few years, the broker space from a technology perspective was lacking, but has really caught up to where retail was (…). So opening up a brokerage was kind of always on my mind.

Mortgage 343

Mortgage Retail Loan Officers Brokerage 343

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. It’s largely been people who have been together [in the same branches] for a long period of time and have been looking for another opportunity.

Loan Officers 233

Loan Officers Brokerage Real Estate Lending 233

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. Desmond Smith: There are two ways to get a mortgage — wholesale or retail.

Mortgage 342

Mortgage Retail Lending Loan Officers 342

Housing Wire

OCTOBER 10, 2023

That’s because real estate agents and loan officers are in survival mode and desperate to close new business. For lenders and brokerages, the risks of LOs or agents overstepping are high. Under MSAs, a lender or title insurer markets the services of a real estate agent or brokerage, and vice versa, in exchange for a set fee.

Real Estate Agent 402

Real Estate Agent Loan Officers Real Estate Agents 402

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. UWM on Thursday when filed a lawsuit in a U.S.

Contracts 413

Contracts Loan Officers Lending Retail 413

Housing Wire

APRIL 27, 2023

“I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. ” With over 21 years in finance and mortgage lending roles, Yeager’s experience spans investment banking, residential retail mortgage, and private mortgage lending.

Loan Officers 309

Loan Officers Retail Lending Investing 309

Housing Wire

APRIL 24, 2024

I don’t do that so much internally right now because we’ve got this separation in retail and wholesale, but my job is to do that for the partners and for the 86,000 loan officers out there not offering reverse mortgages. Technically, it encompasses brokers, principal agents and closed loan sellers,” he said. “We

Mortgage 315

Mortgage Loan Officers Training Business 315

Housing Wire

JULY 18, 2022

Purchase-focused lenders that didn’t balloon in size to capture refinancing business during the boom, in particular, are looking to hire loan officers. And mortgage brokerages, which don’t have the burden of high overhead, are heavily recruiting retail LOs whose pipelines have thinned in recent months.

Mortgage 441

Mortgage Brokerage Retail Business 441

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As

Loan Officers 447

Loan Officers Mortgage Business Retail 447

Housing Wire

NOVEMBER 23, 2021

Guaranteed Rate ’s Shant Banosian has topped his record-setting 2020 in a big way: year-to-date, the loan officer has funded a whopping $2 billion in total origination volume, the lender announced on Tuesday. The figure is believed to be a record for a retail loan originator. He finished 2020 with $1.7

Loan Officers 283

Loan Officers Brokerage Retail Clients 283

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. On average, about 50% of referrals to a retail LO come from buyers’ agents, VanFossen said. You should be finding buyers before real estate agents anyway.”

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

Housing Wire

NOVEMBER 22, 2022

Movement Mortgage’s deal to acquire top indie retail lender Mortgage Network marks a shift in the South Carolina-based company’s strategy. “Over the years, we’ve been more focused on organic growth, one loan officer at a time,” said Mike Brennan, who became Movement’s president in January 2021.

Loan Officers 382

Loan Officers Retail Business Mortgage 382

Housing Wire

JANUARY 2, 2024

“They have let branch managers and loan officers go and say they are transitioning to a broker [shop].” ” A former processor confirmed that “all staff was let go, from operations to loan officers.” . “It shocked everyone as no communications were sent out,” a former employee said.

Loan Officers 398

Loan Officers Lending Mortgage Insurance 398

Housing Wire

MARCH 15, 2021

His West Coast brokerage shop sent tens of millions of dollars in loans to the wholesale mortgage giant in recent years. In Ishbia’s estimation, these two companies, which both have retail operations, are trying to cut the broker out of the mortgage equation.

Real Estate Agent 367

Real Estate Agent Loan Officers Retail Training 367

Housing Wire

JULY 16, 2021

By both companies’ admission, a major key to Success’s success will be hiring loan officers. Kind has since started a retail channel and claims to have originated nearly $4 billion overall in its first 12 months as a company. Presented by: SimpleNexus.

Mortgage 378

Mortgage Lending Brokerage Agents 378

Housing Wire

JUNE 2, 2023

All these other retail lenders are doom and gloom, saying: “The market is so hard, I gotta wait for next year.” Ishbia: Pennymac doesn’t originate loans. They buy loans. The only originators are retail or wholesale. Small retail lenders originate the loan, close it, and then sell it to Pennymac.

Retail 346

Retail Inventory Mortgage Loan Officers 346

Housing Wire

MARCH 24, 2021

billion in the wholesale channel in 2020 (compared to about $62 billion in retail), lost roughly 5% of its broker clients to UWM, according to company executives. Then you might as well just go work for UWM retail. “My business is not designed to make my competitors like me, especially retail competitors,” he said.

Real Estate Agent 377

Real Estate Agent Retail Real Estate Design 377

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. If it wants the loans ‘clear to close,’ borrowers would need to have to wait for their closer to get the package out.

Investing 402

Investing Loan Officers Retail Mortgage 402

Housing Wire

NOVEMBER 16, 2022

Within the past week, one of the nation’s largest retail mortgage lenders, Charlotte-based Movement Mortgage , announced the acquisition of Mortgage Network, a deal that would add $2 billion in annual loan volume, 250 mortgage professionals and 31 branch offices to its network. “If The plug-and-play and brokerage routes.

Buyers 398

Buyers Mortgage Sellers Investing 398

Housing Wire

NOVEMBER 13, 2023

Thus, these systems have evolved over time to provide the necessary backbone for lending operations and ensure compliance, scalability and adaptability across various lending models, from wholesale to retail.

Technology 358

Technology Design Lending Real Estate Agent 358

Housing Wire

AUGUST 8, 2023

In addition, HousingWire spoke to industry experts, lenders, and loan officers to share their insights on the jumbo market. Our analysis of Home Mortgage Disclosure Act (HMDA) data focuses on conventional, non-conforming first-lien mortgages used to purchase or refinance single-family dwellings.

Insurance 315

Insurance Mortgage Clients Lending 315