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. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Home lending revenues declined to $3.3

Mortgage 448

Mortgage Lending Retail Business 448

Housing Wire

FEBRUARY 16, 2022

HousingWire recently sat down with Steve Meirink, executive vice president and general manager, Compliance Solutions, Wolters Kluwer’s Governance, Risk and Compliance Division, to discuss the impact of digital technology on mortgage and the future of digital lending in an era of accelerated innovation and digital transformation.

Lending 378

Lending Technology Tools Loan Officers 378

Housing Wire

MARCH 11, 2022

Similarly, the mortgage industry has no shortage of trend predictions being made each month, quarter and year. However, the mortgage industry is facing a shift in trend predictions this year, as experts unofficially name a “color of the year” in mortgage. Finding the ‘why’.

Lending 375

Lending Mortgage Contracts Finance 375

Housing Wire

FEBRUARY 9, 2024

A lawsuit against the “ All-In” initiative at United Wholesale Mortgage (UWM) should be dismissed, a federal judge said, citing inadequate evidence to prove accusations against the lender. Okavage refused to sign an addendum, which states that brokers cannot engage in business with Fairway or Rocket.

Contracts 446

Contracts Retail Mortgage Lending 446

Housing Wire

OCTOBER 30, 2020

Mortgage Contracting Services , a national provider of residential and commercial property services, hired Jason Myers as vice president of business development. Kelly Stewart has been promoted to vice president senior lending officer for banking operations at Gateway First Bank.

Lending 382

Lending Clients Real Estate Development 382

Housing Wire

DECEMBER 11, 2020

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. Yet borrowers have had limited agency in the lending process to date. The smart contract presents the borrower’s lending request to the exchange. A bigger vision. “We’re

Lending 435

Lending Contracts Investors Technology 435

Housing Wire

MAY 12, 2022

Inventory is contracting. Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Mortgage lending is facing the same disproportionate dilemma that technology, in many ways, can make worse.

Lending 343

Lending Marketing Technology Contracts 343

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. By then, Go Mortgage had sustained millions of dollars of financial losses.

Mortgage 367

Mortgage Marketing Retail Construction 367

Housing Wire

MARCH 31, 2021

Mortgage applications decreased for the fourth straight week – this time down 2.2%, according to the latest report from the Mortgage Bankers Association. Higher mortgage rates continue to shut down refinance activity, as the pool of borrowers who can benefit from a refinance further shrinks.”. Presented by: Angel Oak.

Mortgage 459

Mortgage Contracts Inventory Lending 459

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

Marketing 443

Marketing Mortgage Investors Sellers 443

Housing Wire

FEBRUARY 26, 2024

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. 21 in the U.S.

Retail 443

Retail Legal Lending Business 443

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. Rapidly expanding Revolution In a rising rate environment, many lenders have downsized or have gone out of business.

Loan Officers 396

Loan Officers Mortgage Lending Retail 396

Housing Wire

JULY 19, 2022

The Department of Housing and Urban Development said it is “looking very hard” at how to make it easier to finance small-dollar mortgages, but has yet to spell out how it will accomplish that goal. But a senior HUD official in mid-July stated the obstacles to providing small-dollar mortgages, instead of giving solutions.

Mortgage 397

Mortgage Finance Lending Development 397

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Housing Market 442

Housing Market Marketing Contracts Finance 442

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 468

Mortgage Loan Officers Finance Buyers 468

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

Mortgage 392

Mortgage Legal Lending Investors 392

Housing Wire

OCTOBER 21, 2022

As mortgage rates continue to rise, originations are not the only side of the industry affected. The most basic thing that we’re seeing right now is mortgage rates increase and payoffs decrease because of fewer opportunities to refinance a loan,” said Eric Friedman, managing director of Servicing at Acra Lending.

Mortgage 358

Mortgage Investors Lending Property Taxes 358

Housing Wire

JULY 27, 2022

The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 The complaint alleged Trident Mortgage Co. ,

Loan Officers 418

Loan Officers Mortgage Law Contracts 418

Housing Wire

APRIL 24, 2024

During an earnings call on Wednesday, chief financial officer Daniel Perotti said that “Pennymac maintained its dominant position in correspondent lending in the first quarter” as it acquired $18 billion in volume. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 Pennymac’s servicing portfolio continues to grow.

Lending 441

Lending Legal Contracts Mortgage 441

Housing Wire

SEPTEMBER 8, 2022

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. The lender has a contract with Moder , the business outsourcing arm of Archwell Holdings , sources said.

Mortgage 514

Mortgage Loan Officers Clients Investing 514

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

Mortgage 369

Mortgage Legal Lending Investors 369

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. But Ginnie Mae has never sought to contract with TCB itself regarding TCB’s transactions with RMF.”

Government 394

Government Contracts Finance Lending 394

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The latest Mortgage Bankers Association (MBA) survey proved Deitch right.

Mortgage 369

Mortgage Clients Retail Marketing 369

Housing Wire

APRIL 28, 2022

As the first quarter unfolded, macroeconomic risks created strong headwinds for mortgage companies. The greatest concern is quickly rising mortgage rates, resulting in overall margin compression and essentially a nonexistent market for refinances. Fannie Mae forecasted in early March that mortgage rates would approximate between 3.7%

Mortgage 362

Mortgage Business Contracts Lending 362

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. billion in mortgage loans. 2 in a U.S.

Retail 436

Retail Contracts Loan Officers Mortgage 436

Housing Wire

MAY 10, 2022

As the first quarter unfolded, macroeconomic risks created strong headwinds for mortgage companies. The greatest concern is quickly rising mortgage rates, resulting in overall margin compression and essentially a nonexistent market for refinances. Fannie Mae forecasted in early March that mortgage rates would approximate between 3.7%

Mortgage 413

Mortgage Business Contracts Lending 413

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Housing Market 369

Housing Market Marketing Contracts Lending 369

Housing Wire

AUGUST 31, 2020

Lenders need to be able to grow their business in a way that is not linear and is not tied to the market cycles – leveraging automation technology can help. State of Mortgage Automation. Indecomm’s automation continuum showcases several potential opportunities for RPA across the mortgage origination lifecycle.

Lending 435

Lending Technology Tools Training 435

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. It’s an open platform. We’re not huge, but we’re not small either.”.

Mortgage 476

Mortgage Technology Investing Investors 476

Housing Wire

JUNE 9, 2021

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. The deal represents the latest mortgage space exit for the Jacksonville-based financial firm. TIAA Bank has laid off more than 200 workers over the past six months as it pivots away from mortgage servicing.

Lending 370

Lending Retail Business Contracts 370

Housing Wire

JANUARY 14, 2021

The mortgage industry has not traditionally been the vanguard of digital adoption, particularly in data intelligence and applied machine learning. It has brought in interactive technology and cognitive business process tools as resiliency responses to the crisis. It is no longer a means to experiment with a differentiating model.

Mortgage 501

Mortgage Technology Business Tools 501

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 431

Loan Officers Tools Business Clients 431

Housing Wire

NOVEMBER 15, 2023

mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. In 2018, it acquired Franklin American Mortgage. billion, down 42.6%

Retail 464

Retail Mortgage Brokerage Contracts 464

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Driven by a desire to achieve greater scale and gain access to cheaper capital, nonbank mortgage lenders dove headfirst into the public markets during the Covid-19 boom. How could they resist? Finance data.

Mortgage 396

Mortgage Retail Finance Investors 396

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 431

Retail Contracts Legal Business 431

Housing Wire

SEPTEMBER 1, 2020

There’s a lot of mortgages to be processed. Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City.

Loan Officers 431

Loan Officers Retail Lending Contracts 431

Housing Wire

JUNE 6, 2023

Top originator United Wholesale Mortgage settled a lawsuit with broker shop Mid Valley Funding , in which the broker shop was accused of violating UWM’s controversial ultimatum by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. million by continuing to do business with both UWM and Rocket.

Brokerage 359

Brokerage Contracts Legal Business 359