Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. Kostegian added that about 5,000 approved insurance agents can also originate a mortgage with Rocket, Lazerson wrote.

Loan Officers 364

Loan Officers Mortgage Real Estate Agent Real Estate 364

Housing Wire

APRIL 26, 2023

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Niche loans consist of about 5% of Parkinson’s business. “It’s It could open up the door for more business,” he said.

Loan Officers 397

Loan Officers Mortgage Inventory Clients 397

Housing Wire

JANUARY 2, 2024

However, two former employees said the company communicated it’s shutting down its mortgage lending business. “They have let branch managers and loan officers go and say they are transitioning to a broker [shop].” Purchases comprised about 66%, conventional loans were 45% and 95% were banked loans.

Loan Officers 428

Loan Officers Lending Mortgage Insurance 428

Housing Wire

SEPTEMBER 27, 2022

million to acquire the tech-enabled home loan platform, which does business in 20 U.S. According to data by mortgage technology platform Modex , LemonBrew loan officers produced $347 million over the last 12 months. The vast majority of loans – more than 80% – are originated by Rocket Mortgage , the data shows.

Brokerage 368

Brokerage Lending Loan Officers Technology 368

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

Finance 453

Finance Real Estate Agent Real Estate Insurance 453

Housing Wire

MAY 25, 2023

[They likely] would feel much more confident that they can keep a significant amount of the proceeds from their departure home and not have to make monthly mortgage payments, provided they continue to pay their taxes and insurance and maintain the home,” said Rob Cooper, National Purchase and Builders Sales Leader for Longbridge. “If

Loan Officers 395

Loan Officers Real Estate Agent Real Estate Finance 395

Housing Wire

SEPTEMBER 15, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. business advisory firm in real estate, mortgage finance, digital mortgage, banking and capital markets. Register for the FinLedger Daily Newsletter.

Business 483

Business Law Real Estate Investors 483

Housing Wire

JANUARY 10, 2024

Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Sue Haviland has also joined the division as a loan officer, coming off of a roughly three-year stint as Finance of America Reverse (FAR)’s national sales trainer in learning and development.

Mortgage 426

Mortgage Lending Loan Officers Design 426

Housing Wire

JUNE 23, 2023

To determine eligibility for the CCM Smart Start program or obtain further information, individuals are encouraged to reach out to a CCM loan officer. 5000 list of America’s fastest-growing private businesses. The company’s growth and culture have been acknowledged nine times on the Inc.

Buyers 365

Buyers Retail Loan Officers Insurance 365

Housing Wire

JANUARY 5, 2023

California-based Loan America, Inc. is the latest former business partner to sue Sprout Mortgage in a suit filed six months after the mortgage lender abruptly closed its doors. Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders.

Insurance 417

Insurance Loan Officers Mortgage Business 417

Housing Wire

NOVEMBER 1, 2022

Mortgage tech firms Mortgage Coach and Polly have teamed up on a new application programming interface (API) integration that guides borrowers through a visual representation of their loan options. The goal is to help drum up business for lenders during an extremely challenging time in the industry. .

Mortgage 413

Mortgage Project Management Insurance Loan Officers 413

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation.

Lending 361

Lending Mortgage Loan Officers Government 361

Housing Wire

OCTOBER 6, 2022

“In light of macroeconomic market conditions, on Monday of this week we further restructured the mortgage operations group within our Keller Mortgage business,” Darryl Frost, a spokesperson at Keller Williams , wrote in an email confirming the layoffs. The post More layoffs at Keller Mortgage appeared first on HousingWire.

Mortgage 369

Mortgage Real Estate Loan Officers Brokerage 369

Housing Wire

APRIL 4, 2022

Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. 85%) back to the pre-crisis level of.5%,”

Insurance 369

Insurance Loan Officers Sellers Mortgage 369

Housing Wire

NOVEMBER 18, 2021

United Wholesale Mortgage (UWM) rolled out a new purchase product that will waive mortgage insurance payments if a borrower opts for a 10%-or-more down payment. Once that happens, mortgage insurance is usually waived. But borrowers would be wise to note that they’ll get hit with higher interest rates.

Insurance 409

Insurance Loan Officers Retail Mortgage 409

Housing Wire

MAY 11, 2021

Better.com, which offers mortgage, real estate, title and homeowner insurance through its digital platform, has entered an agreement to merge with Aurora Acquisitions Corp., billion in title insurance and $1.4 billion in homeowners insurance. a blank check company sponsored by Novator Capital. The company generated $24.2

Valuation 385

Valuation Insurance Investors Loan Officers 385

Housing Wire

OCTOBER 6, 2021

Competition in the housing market is going to increase quickly as the nation recovers from the pandemic, and those who are using tech to keep their pipeline flowing will be better equipped to compete and win new business. Better has also made strides in real estate and insurance. billion in title insurance and $1.4

Insurance 410

Insurance Investors Real Estate Loan Officers 410

Housing Wire

FEBRUARY 24, 2021

HousingWire: What role has the increase in technology played for both businesses and consumers in the real estate space? Quite frankly, you may consider the new trend as B2P – business to people. Vance Loiselle: In the 20th century, the primary technology innovations in real estate were the telephone and the MLS.

Real Estate Agent 316

Real Estate Agent Real Estate Agents Loan Officers 316

Housing Wire

NOVEMBER 10, 2022

“This creates a challenging environment for volume-sensitive businesses such as mortgage originators and title insurers.” It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. A massive job cut. over the past 12 months to 6,121.

Mortgage 369

Mortgage Loan Officers Lending Business 369

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business. In total, 76.6%

Mortgage 358

Mortgage Loan Officers Insurance Business 358

Housing Wire

APRIL 13, 2022

Each year, HousingWire recognizes the outstanding women in housing who are making notable contributions to both their businesses and to the industry at-large. Enact Mortgage Insurance’s Director, Quality Assurance, Sheila Klostermann , led her team in increasing productivity by ~ 25% over the last year.

Loan Officers 367

Loan Officers Insurance Mortgage Business 367

Housing Wire

JANUARY 19, 2023

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The mystery as to what happened to its loan pipeline and funding endure. Shocked employees didn’t receive their last paychecks. Yet Strauss, who already has a $2.45

Mortgage 397

Mortgage Investors Legal Loan Officers 397

Housing Wire

OCTOBER 13, 2021

It’s also made a push to hire teachers and first responders to be loan officers. billion in loan volume between June 2020 and June 2021. The holding company will invest in finance, insurance, and real estate businesses. Interfirst told HousingWire in August that it originated $1.65

Mortgage 324

Mortgage Investors Investing Technology 324

Housing Wire

JUNE 6, 2022

Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022. The bank’s revenues in the home lending business totaled $1.5 But without reliable access to purchase business, conditions look bleak for Better.

Mortgage 421

Mortgage Loan Officers Lending Human Resources 421

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 410

Clients Buyers Real Estate Agent Real Estate 410

Housing Wire

FEBRUARY 1, 2022

Anthony Hsieh, loanDepot’s founder and CEO, said in a statement that the company’s industry is a cyclical one, but the business was “purpose-built with period of pressure in mind,” considering its proprietary tech stack, diverse mix of channels, and a marketing machine. “We billion worth of conventional conforming loans in 2021, up from $79.9

Advertising 370

Advertising Loan Officers Retail Insurance 370

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Business 429

Business Mortgage Loan Officers Inventory 429

Housing Wire

JUNE 24, 2021

Strong purchase lenders that historically did 70% purchase business, originated 70% refinance. And while that refi wave continues to drive some unbelievable production numbers – now is the time for mortgage professionals to focus on the purchase business that will be critical to success over the next decade.

Loan Officers 324

Loan Officers Lending Finance Business 324

Housing Wire

JANUARY 4, 2023

The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week. For jumbo loans (greater than $647,200), rates remained at 6.12%. ” Cash-outs are getting harder. ”

Mortgage 526

Mortgage Loan Officers Insurance Investors 526

Housing Wire

NOVEMBER 18, 2022

The document says the company will lay off 194 of its 305 employees at its headquarters in Aurora “due to unforeseeable business circumstances causing a sudden and drastic reduction in sales,” Benjamin J. My time with PenFed has come to an end,” a loan officer posted on LinkedIn.

Loan Officers 417

Loan Officers Modernization Finance Housing Market 417

Housing Wire

FEBRUARY 11, 2022

It reported the 30-year rate for FHA-insured mortgages was even higher, at 4.122%. And it means that lenders, many of whom ramped up hiring in the past two years to keep up with demand for refinances, are now shedding loan officers. Margins have already fallen in the case of Wells Fargo and loanDepot.

Mortgage 384

Mortgage Contracts Loan Officers Insurance 384

Housing Wire

JANUARY 25, 2022

Additionally, the Federal Housing Finance Agency’s recent announcement of increased upfront fees for high-balance and second-home loans is bound to create more pressure by pushing borrowers out of the market. This includes how much cash is used to fund new loans, cycle time on loans in inventory, and how fast you’re selling loans.

Mortgage 358

Mortgage Inventory Business Loan Officers 358

Housing Wire

JUNE 24, 2021

Buyside helps real estate agents and loan officers engage homeowners with not just home value tools but also branded wealth optimization tips on their home’s equity so homeowners can now truly view their home as an asset. According to NAR over 69% of buyers have a home to sell, so really homeowners represent the earliest buyer.

Valuation 325

Valuation Real Estate Agent Real Estate Clients 325

Housing Wire

DECEMBER 14, 2020

An ex-software engineer, Green is also a former loan officer and founder of The Mortgage Reports, a mortgage education website that was eventually acquired by Full Beaker. The goal is to build a profitable business that creates wealth for our customers. “There are 2.5 Raising money was never the goal. mortgage market. .

Loan Officers 337

Loan Officers Investors Legal Buyers 337

Housing Wire

SEPTEMBER 30, 2020

Borrowers, loan officers and the corresponding processors and underwriters are often working on entirely different systems. Rashid steers Tavant’s strategy for continued profitable revenue growth, supported by a fully aligned business development engine. Mohammad Rashid, Head of Fintech Practice.

Lending 199

Lending Real Estate Agent Loan Officers Architecture 199

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 397

Mortgage Loan Officers Finance Investors 397

Housing Wire

MARCH 4, 2021

They’ll also be measuring new legislation/regulation and possibly greater enforcement by various state departments of insurance, state bar associations and more. More importantly, however, the use of monitoring and oversight allows a business the chance to correct course if the main issue is a bad apple or two.

Lending 420

Lending Law Loan Officers Clients 420