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Longbridge Financial marks two years of national field sales

Housing Wire

Two years later, the division has proven to be a key player in the business at Longbridge. To mark the anniversary of the launch and the posture of the wider industry that has evolved during that time, RMD sat down with Parks to discuss how the business has progressed and what it’s looking to accomplish in the future.

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Fintech Maxwell acquires digital lending platform Revvin 

Housing Wire

According to Paasonen, when the housing market is contracting, Maxwell is doubling down on its origination infrastructure to become a “one-stop shop for lenders.” Saportas said Revvin developed a configurable workflow management powered by modular components – the propetch offers a no code/low code digital mortgage platform to lenders.

Lending 409
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Newrez sues former employee for soliciting senior executives to join competing lender 

Housing Wire

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S. the Nationwide Multistate Licensing System (NMLS) showed.

Retail 407
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AmeriSave accused of defamation, failure to pay wages in lawsuit

Housing Wire

According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division. million when considering all 140 potential class members.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Caccia said that 80% of his business comes from buyers’ agents.

Buyers 498
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How the buyer commission lawsuits could upend the relationship between agents and LOs

Housing Wire

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.” Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

Buyers 391
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Home equity products light up a dark housing market

Housing Wire

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. The recent Saluda Grade-sponsored rated offering represents the sixth securitization deal since 2021 backed fully by shared-equity contracts — valued in total at some $1.3