Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). Home lending revenues declined to $3.3 The business grew to $9.8

Mortgage 413

Mortgage Lending Retail Business 413

Housing Wire

FEBRUARY 5, 2024

“While we do not comment on pending litigation, Guild’s long-standing reputation for doing what’s right is built from our core values of integrity and respect, and we are committed to those values with every employee, client, and partner,” Guild said in a statement. Seely’s attorneys did not immediately respond to requests for comments.

Retail 403

Retail Contracts Loan Officers Mortgage 403

Housing Wire

MARCH 25, 2024

Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. TikTok is probably 40% to 45% of my business.” Meanwhile, investors are taking steps to acquire the business. ban of the short-form video app. million ‘likes’ on TikTok. “I’ve

Loan Officers 395

Loan Officers Tools Business Clients 395

Housing Wire

JUNE 6, 2023

Tristan Watson has been promoted to the role of director of subservicing pricing and will oversee all revenue pricing generated by the subservicing business. Headquartered in Ewing, NJ, Cenlar FSB is a subservicer that caters to clients in all 50 states and U.S. Its client base includes banks, credit unions, and mortgage bankers.

Valuation 344

Valuation Clients Contracts Mortgage 344

Housing Wire

JUNE 29, 2023

loanDepot is accusing its competitor Movement Mortgage of damaging its business by hiring over 25 employees in three months and “effectively crippling” “now-depleted” branches. It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot.

Retail 397

Retail Contracts Legal Business 397

Housing Wire

FEBRUARY 25, 2022

The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal court accusing broker partners of breach of contract for originating mortgages to its competitors. A warranty in the addendum said that if brokers submitted loans to Rocket or Fairway, it would constitute a breach of contract.

Contracts 370

Contracts Brokerage Investing Mortgage 370

Housing Wire

JUNE 5, 2023

Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. Rapidly expanding Revolution In a rising rate environment, many lenders have downsized or have gone out of business.

Loan Officers 382

Loan Officers Mortgage Lending Retail 382

Housing Wire

DECEMBER 2, 2020

billion of it coming through its forward-lending arm. “Our platform was purpose-built to create a business that could better withstand the cyclicality of most consumer lending businesses,” CEO Mary Cook said on an earnings call. The company funded $9.17 billion in the third quarter, with about $8.5

Finance 226

Finance Lending Retail Business 226

Housing Wire

DECEMBER 13, 2022

Mike Fawaz: The mortgage and housing industry has always been a cyclical business. The LOs and brokers who are truly passionate, who are great at what they do, will use this time to double down, hone their craft and become even better advisors to their clients. The best time to lean into this business is when others are leaning out.

Clients 393

Clients Technology Real Estate Agent Business 393

Housing Wire

SEPTEMBER 8, 2022

Eliminated positions included loan officers, closers, underwriters and client advocates, according to six former employees. The lender has a contract with Moder , the business outsourcing arm of Archwell Holdings , sources said. They would do a round of layoffs and they would restructure how you did your job.”.

Mortgage 504

Mortgage Loan Officers Clients Investing 504

Housing Wire

FEBRUARY 4, 2022

United Wholesale Mortgage (UWM) is making good on its threat to take legal action against partnering broker shops that also send business to Rocket Mortgage and Fairway Independent Mortgage , a violation of the wholesaler’s controversial broker agreement. million for repeatedly violating the terms of the agreement.

Legal 370

Legal Contracts Business Mortgage 370

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. Attorneys, Realtors and clients are a big part of our repeat business.”

Buyers 395

Buyers Agents Loan Officers Real Estate 395

Housing Wire

MARCH 15, 2023

Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The MBA survey shows that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) was 6.71% last week, down from the previous week’s 6.79%. ”

Mortgage 368

Mortgage Clients Retail Marketing 368

Housing Wire

DECEMBER 21, 2021

Retail people don’t get laid off as much because they own their book of business. As long as their realtors and partners are doing business, they’re doing business,” said Blake Bianchi, founder and CEO of mortgage start-up Discount. The post Anxiety grips LOs as layoffs sweep the industry appeared first on HousingWire.

Loan Officers 441

Loan Officers Retail Business Mortgage 441

Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

Housing Market 534

Housing Market Buyers Marketing Real Estate Agent 534

Appraisal Buzz

MAY 17, 2021

Just because appraisers are busy does not mean anyone can relax their due diligence. Almost daily, there is some story on social media about being “turned in” to the state by a disgruntled agent, buyer, or seller for appraising a property below the contract price. Appraisers’ jobs are not to facilitate mortgage lending.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

APRIL 26, 2023

Mr. Cooper’s chairman and CEO Jay Bray said the operating results are due to a “balanced business model” between servicing and origination, according to a news release. The reduction resulted from a client that decided to take the portfolio in-house, executives said during a call with analysts.

Contracts 369

Contracts Government Business Clients 369

Housing Wire

JUNE 11, 2021

If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned. Should the appraisal come in lower than the contract price, the closing process may be impacted. However, once the appraiser is at the home, it’s generally about five business days,” Masseria estimates.

Inspection 432

Inspection Appraisal Buyers Appraisal Process 432

Housing Wire

SEPTEMBER 22, 2021

In addition to self-employed workers, the “gig” economy — or independent contractors and freelancers who do short-term work for multiple clients — continues to grow. BD: First and foremost, the biggest pain point for brokers is finding lenders that offer mortgage solutions outside of the conventional lending box.

Finance 370

Finance Technology Lending Mortgage 370

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 Godin made plans to relaunch the business in late 2019 as a tech-forward lender that originated loans across both wholesale and retail channels. According to former employees and executives, business seemed strong as recently as summer 2021.

Mortgage 364

Mortgage Loan Officers Retail Training 364

Housing Wire

NOVEMBER 1, 2023

I was speaking to someone the other day who said, ‘If you’re in this business [mortgage lending], I can’t see a downside to a recession.’” These are the folks who are buying right now, and I you know because some of them are my clients.” trillion to $1.64 trillion, according to the MBA’s forecast.

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

DECEMBER 29, 2021

Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business. The event is exclusively for HW+ members, and you can go here to register.

Insurance 349

Insurance Real Estate Technology Business 349

Housing Wire

NOVEMBER 3, 2023

” Other popular answers included, ‘implementing buyer representation agreements,” “full disclosure of client options,” and “more training on our value proposition.” ” Alternative business models One broker who says he is prepared is Scott Brady , owner of Progressive Property Management Inc.

Real Estate 318

Real Estate Brokerage Buyers Property Management 318

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan. A lender with $624.6

Lending 391

Lending Real Estate Agent Loan Officers Retail 391

Housing Wire

FEBRUARY 3, 2022

Goldman Sachs ’s analysts wrote in a report to clients on January 6 that, overall, they remain negative on the group of nonbank mortgage originators for this year. LoanDepot’s stock at the close of business Wednesday traded at just $4.02 They’re positioned to capture market share in 2022, he said. Investors were nonplussed.

Mortgage 382

Mortgage Retail Finance Investors 382

Housing Wire

APRIL 22, 2021

“I’m on my way with a client to show them a house that’s literally just gotten on the market, and by the time we get there, it’s already under contract with someone else,” she said. Thankfully, most banks were still lending. “It’s just insane. “But this is a great place to live.

Buyers 432

Buyers Inventory Renovations Realty 432

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. The financing for the initial deal was handled through a cryptocurrency lender called Helio Lending.

Mortgage 450

Mortgage Technology Investing Investors 450

Town & Country Residential Appraisals

AUGUST 8, 2022

However, since the borrower is not our client, that report will not be sent by us. USPAP defines the client as “the party or parties who engage, by employment or contract, an appraiser in a specific assignment”. Nowhere in the definition of client does it refer to who paid for the appraisal.

Appraisal 51

Appraisal Clients Contracts Law 51

McKissock

JANUARY 6, 2023

How about one for you and your appraisal business? Our business is often affected by a seasonal slowdown, and with the current housing trends , it is possible that this slowdown will last longer than usual. These may be full-time jobs or contracted services. Non-lending appraisal courses. All that noise got me thinking.

Appraisal 74

Appraisal Training Lending Land Management 74

Appraisal Today

JANUARY 5, 2024

I suppose it is because most appraisals are done (now) for residential lending purposes. 2024 USPAP For Appraisers Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! – Set up your Google business profile. Select a date.

Appraisal 74

Appraisal Contracts Legal Business 74

Housing Wire

AUGUST 23, 2023

” Better is partnering with other businesses to offer services such as homeowner’s insurance and to provide access to a network of real estate agents, rather than offering these products and services directly to borrowers. The change resulted in Better’s exit from its real estate business. We aim for a similar mix.”

Realtors 367

Realtors Technology Insurance Mortgage 367

Birmingham Appraisal

FEBRUARY 8, 2023

Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not. For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes.

Realtors 77

Realtors Appraisal Market Value Real Estate Agent 77

Appraisal Today

NOVEMBER 24, 2023

Most appraisers have been through some extremely busy seasons that have been very positive. A time to finally work on and execute a plan for your business. Appraisers were busy cranking out appraisal reports. Appraisers were busy cranking out appraisal reports. Now appraisers are not busy, but they should be.

Appraisal 73

Appraisal Mortgage Business Contracts 73

Appraisal Today

MAY 19, 2023

Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! They can tell their clients that their data collectors are qualified, as compared with their competitors. When rates go down, AMC business will be good for those who are available.

Appraisal 52

Appraisal Business Contracts Real Estate 52

Annarbor Appraisal

SEPTEMBER 6, 2020

The first thing to remember as a consumer or real estate agent, is that the client is the lender, not the consumer. Even though the consumer may pay for the appraisal, they are no more the client than is the credit reporting agency or title company hired directly by the lender. Limit the number of sales to three if possible. •

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

Housing Wire

APRIL 24, 2024

Cooper Group unveiled strong financial results during the first quarter of 2024, buoyed in part by a strong servicing and subservicing business. He will be responsible for oversight of capital markets and correspondent lending , reporting directly to chairman and CEO Jay Bray. in Q1 2024, up from 12.5% in the fourth quarter of 2023.

Technology 331

Technology Lending Investing Contracts 331

McKissock

APRIL 20, 2021

Despite your chosen work schedule, you’ll have to juggle clients who generally want their agents to be available around the clock. Work with a coach to map out your business. Receive basic training in contracts and how to price properties using comparative marketing analysis. Finding time for part-time real estate.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Realtors 98