Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. 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.”

Loan Officers 430

Loan Officers Tools Business Clients 430

Housing Wire

APRIL 1, 2024

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.

Loan Officers 417

Loan Officers Training Business Retail 417

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

Loan Officers 441

Loan Officers Retail Business Mortgage 441

Housing Wire

FEBRUARY 5, 2024

The deal gave Guild a substantial foothold in the Northeast and a bevy of purchase businesses. RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. Seely joined Guild in 2021 when the California-based lender paid $196.7 In 2020, it originated $8.5 2 in a U.S.

Retail 421

Retail Contracts Loan Officers Mortgage 421

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. billion in business. Anthony Hsieh, founder and CEO of loandepot.

Loan Officers 384

Loan Officers Contracts Legal Business 384

Housing Wire

JULY 27, 2022

a subsidiary of Warren Buffet’s Berkshire Hathaway , discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority areas and sent racist internal emails. It must also contract with a lender to administer $18.4

Loan Officers 397

Loan Officers Mortgage Law Contracts 397

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” ” He added that the hope is we see some improvement in the spring or summer, “but it’s anyone’s guess.” “I

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

FEBRUARY 24, 2023

They value a previous underwriter, loan officer or real estate agent’s experience in the industry because these candidates have a deep knowledge of the inner workings of the business. That vast experience could be just what a rookie agent or loan officer needs.

Loan Officers 384

Loan Officers Real Estate Agent Real Estate Agents 384

Housing Wire

NOVEMBER 1, 2022

“Union Home wanted to cripple Caliber’s retail mortgage business in the Southeast and eliminate competition, in particular Georgia, Alabama, and South Carolina, and to convert that production, revenue, and profits to its own,” Caliber says in its lawsuit, which was filed in Texas. billion in mortgage production.

Retail 315

Retail Mortgage Contracts Loan Officers 315

Housing Wire

SEPTEMBER 27, 2023

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.” Marvin Chang, Revvin’s chief commercial officer, has stepped down to pursue an opportunity in academia.

Lending 441

Lending Technology Loan Officers Clients 441

Housing Wire

SEPTEMBER 7, 2023

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.

Agents 397

Agents Buyers Loan Officers Real Estate 397

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. the Nationwide Multistate Licensing System (NMLS) showed.

Retail 421

Retail Legal Lending Business 421

Housing Wire

JANUARY 30, 2023

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. This decision came after the mortgage lender imposed numerous layoffs across the company, according to former employees and business partners.

Loan Officers 473

Loan Officers Retail Contracts Mortgage 473

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 421

Retail Contracts Legal Business 421

Housing Wire

DECEMBER 21, 2022

“Finally, CrossCountry is likely to be found liable for aiding and abetting the Individual Defendants’ contractual and fiduciary violations, as well as being responsible for tortious interference with contract.”. In July 2022, loanDepot sued the rival again for allegedly poaching high-performing loan officers from its New York branches.

Legal 410

Legal Loan Officers Contracts Business 410

Housing Wire

DECEMBER 1, 2021

Company sources told HousingWire that refi-focused, salaried loan officers made up the majority of the hundreds of employees who received pink slips. Better’s loan officers do not receive commissions. Of the 77 employees that will be laid off, 49 of them are loan officers.

Loan Officers 397

Loan Officers Finance Business Mortgage 397

Housing Wire

OCTOBER 5, 2023

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

Housing Market 421

Housing Market Marketing Contracts Finance 421

Housing Wire

AUGUST 1, 2022

including six regional managers, an executive assistant and a business development associate, the mortgage lender alleges. The lawsuit, filed Wednesday in the United States District Court, District of Nevada, includes two counts: breach of contract and breach of fiduciary duty/duty of loyalty. billion in business.

Loan Officers 384

Loan Officers Mortgage Retail Contracts 384

Housing Wire

JULY 19, 2022

Adjusting to today’s market can be dizzying after the last few years of historically low interest rates and high refinance business. Distrust : Consumer trust has fallen across all sectors of business and government in the U.S. The 2022 Edelman Trust Barometer reported distrust is now society’s default emotion. The Move to hybrid.

Mortgage 421

Mortgage Loan Officers Technology Real Estate 421

Housing Wire

SEPTEMBER 1, 2020

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 410

Loan Officers Retail Lending Contracts 410

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.

Mortgage 504

Mortgage Loan Officers Clients Investing 504

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. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

NOVEMBER 23, 2022

As rates increase and housing prices correct in 2023, sellers will want to take advantage of improving their chances to do business with an excited buyer who can obtain a lower than market rate with seller participation,” Jeff Miller, vice president of Pacific Northwest at Churchill Mortgage , said. Lenders seize opportunity for lost volume.

Buyers 473

Buyers Marketing Sellers Loan Officers 473

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. To maintain retail and wholesale channels simultaneously and without conflicts, Perez said EPM’s “pricing is agnostic” for both businesses. “Wholesale is growing.

Retail 370

Retail Loan Officers Landlords Lending 370

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle. HousingWire first reported on the topic.

Mortgage 397

Mortgage Finance Retail Business 397

Housing Wire

FEBRUARY 11, 2022

The current higher rates — an increase of nearly 50 basis points over the past month — will lead to “an enormous contraction of refinance activity,” Kiefer said. On the ground, that means that lenders’ gain on sale margins will contract, as originating purchase mortgages is more costly than refinances.

Mortgage 384

Mortgage Contracts Loan Officers Insurance 384

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. In 2012, Dmitry Godin was seemingly on top of the world. 375% below the market.”

Mortgage 370

Mortgage Loan Officers Retail Training 370

Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. Well, then what?

Mortgage 421

Mortgage Technology Contracts Realtors 421

Housing Wire

JANUARY 27, 2022

Vesta has a system of record for loan origination data and documentation; a workflow engine to orchestrate process among borrowers, loan officers, underwriters; and open APIs (application programming interface) for partners to build their own solutions.

Mortgage 384

Mortgage Investors Loan Officers Technology 384

Housing Wire

FEBRUARY 15, 2023

Not the ones that were sold to Luminate Home Loans , but the ones that were remaining,” Lamb said. Several of Celebrity’s retail businesses transitioned to Luminate Home Loans in December and January, including Neo Home Loans. “We’re trying to provide a landing spot.”

Retail 284

Retail Loan Officers Contracts Business 284

Housing Wire

NOVEMBER 7, 2023

More and more, you’ll start to compete for buyer business in a similar way you do for listings now. Loop your buyer’s lender into the mix and have coffee with your buyer clients and the loan officer to discuss loan options that meet their goals. Find them their dream home. Be a matchmaker. Overcommunicate.

Clients 431

Clients Buyers Real Estate Agent Real Estate 431

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. “This company had hundreds of loans.

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

FEBRUARY 16, 2022

SM: I joined this industry as a Retail Mortgage Loan Officer growing to a Broker Owner in my local community and try to apply a simple concept we share with customers and prospects which is the idea of digital lending made simple. If you don’t, more efficient competitors will “eat your lunch” and take business away.

Lending 384

Lending Technology Tools Loan Officers 384

Housing Wire

NOVEMBER 9, 2023

But having some experience with that, I didn’t really want to find contract offshore providers. So when they’re busy during our nighttime and they get stuck or need help, there’s somebody there that can answer those questions. So we decided to open our own company in India: NAF Tech India.

Technology 419

Technology Development Contracts Investing 419

Housing Wire

DECEMBER 27, 2022

The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. The top producing LOs who focused on purchase mortgages were positioned in a better spot than those whose business depended on refis. Or will soon.

Housing Market 526

Housing Market Marketing Real Estate Agent Real Estate 526

Housing Wire

NOVEMBER 29, 2021

He added that large issuers, such as big investment banks, “have a dedicated desk at their TPR firm [via contract], and they will sit there and wait for the loans, but they will not put anyone in front of them.”. The startup firm started doing business in the second quarter of this year.

Loan Officers 466

Loan Officers Supply Chain Mortgage Marketing 466

Housing Wire

FEBRUARY 15, 2024

The DPA share in FHA’s total book of business, including refinances, was 27% as of October 2023. It’s the first-time buyers who are taking advantage of DPAs for FHA loans, said Miki Adams, president of CBC Mortgage Agency , a federally chartered housing finance agency.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450