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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

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Revolution Mortgage snags top loanDepot loan officers

Housing Wire

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.

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January Demo Day: Digital Lending Platform

Housing Wire

Blue Sage: Digital Lending Platform Our Digital Lending Platform is a multi-channel, end-to-end digital mortgage solution that provides a superior experience for lenders and customers. API-centric and based on consumer data models, our platform focuses on innovation, automation, and business transformation. Get More Info

Lending 301
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In quest to grow reverse business, US Mortgage Corporation hires Krajewski

Housing Wire

The company recently hired reverse mortgage industry veteran Ken Krajewski to serve as its managing director and head of reverse mortgage lending. US Mortgage recently surpassed 30 years in business. And I love the idea that we can get so deep with these clients and really impact their lives for the better.”

Business 411
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Fintech Maxwell acquires digital lending platform Revvin 

Housing Wire

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. Marvin Chang, Revvin’s chief commercial officer, has stepped down to pursue an opportunity in academia.

Lending 415
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Mountain West Financial sells retail assets to ML Mortgage Corp. 

Housing Wire

one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loan officers to ML Mortgage. As of Thursday, per the Nationwide Multistate Licensing System (NMLS), it had 18 active branch locations and 86 sponsored loan officers.

Retail 405
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NAF reverse VP talks 2024 business, collaboration with forward side

Housing Wire

If you’re already a client at New American Funding, why not continue and let us help you implement what your retirement goals could be?” One such move is in collaboration with NAF’s forward mortgage division and educating more of these loan officers about reverse products.

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