Housing Wire

JUNE 22, 2023

It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Bowlby noted that AmeriFirst never closed business. The lender maintained their servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. relaunched its forward mortgage originations.

Loan Officers 352

Loan Officers Mortgage Real Estate Agent Business 352

Housing Wire

SEPTEMBER 29, 2020

This sounds like great news for lenders, for whom millions of newly refi-eligible mortgages means a lot of new business coming in. To help prepare, the industry experts at TMS have compiled a list of proactive steps to take to make sure that, when refi sweets are less abundant, your business will already be nutritious.

Lending 424

Lending Loan Officers Business Investors 424

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 375

Contracts Loan Officers Legal Best Value 375

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. In fact, in 2022, over 20,000 loan officers joined the wholesale channel.

Mortgage 364

Mortgage Retail Lending Loan Officers 364

Housing Wire

SEPTEMBER 27, 2023

The DOJ alleges that the bank also failed to train and incentivize its staff to market and advertise its mortgage services to compensate for its lack of presence in these areas. Ultimately, other banks received four times more loan applications each year in these minority neighborhoods than Washington Trust.

Advertising 411

Advertising Loan Officers Lending Training 411

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending. It’s the local relationships.

Mortgage 360

Mortgage Loan Officers Lending Retail 360

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. It’s amazing how many loan officers miss this, don’t return the call quickly, and lose their race before it’s even underway. In our business, that’s the refinance transaction.

Mortgage 443

Mortgage Technology Tools Business 443

Housing Wire

MAY 2, 2022

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. Presented by: Acra Lending. Interfirst is a mortgage business founded in 2001 by Dmitry Godin that has been harmed before by market downturns.

Human Resources 375

Human Resources Loan Officers Retail Training 375

Housing Wire

AUGUST 1, 2023

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officers 366

Loan Officers Retail Real Estate Agent Real Estate 366

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. Because as much as automation is a long-term vision, it’s also about lenders proving value to the business as they move along the course.”. State of Mortgage Automation.

Lending 410

Lending Technology Tools Training 410

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We

Retail 370

Retail Mortgage Loan Officers Marketing 370

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. Ranked as the 18th largest mortgage originator, it originated $24.4

Mortgage 369

Mortgage Loan Officers Lending Business 369

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. Wells Fargo: at least 114 employees in home lending. The bank’s revenues in the home lending business totaled $1.5

Mortgage 421

Mortgage Loan Officers Lending Human Resources 421

Housing Wire

JANUARY 24, 2023

The ‘ultimatum ’ it imposed two years ago effectively prohibited broker partners from also doing business with two of UWM’s rivals. The lender’s price reduction by 50 to 100 basis points across all its loans last year led to accusations that UWM was making it impossible for some lenders to do business in the space.

Lending 361

Lending Law Legal Training 361

Housing Wire

APRIL 12, 2023

None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. Many are curious about buydowns but we are currently operating in what is still a seller’s market so not seeing many seller-funded buydowns,” a loan officer in Boston noted.

Mortgage 343

Mortgage Marketing Loan Officers Real Estate Agent 343

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. I have my business cards everywhere because the more people that see your cards and face, the better,” Naumovych said.

Marketing 396

Marketing Real Estate Agent Loan Officers Advertising 396

Housing Wire

MAY 25, 2022

Each pod has about 15 employees consisting of loan officers, processors, closers, underwriters, supervisors, and funders, according to multiple employees. ” Loan officers, who are 100% commission based at Keller Mortgage, were not part of the layoffs, according to multiple employees. . About 66.7%

Mortgage 397

Mortgage Loan Officers Retail Training 397

Housing Wire

NOVEMBER 23, 2021

will lay off 77 employees in its Charlotte, North Carolina office come January 2022, a Worker Adjustment and Retraining Notification Act (WARN) notice filed by the company reveals. Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators.

Mortgage 378

Mortgage Loan Officers Retail Technology 378

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. I think 99% of the loans that I was writing there were refinances.

Mortgage 362

Mortgage Loan Officers Retail Training 362

Housing Wire

JUNE 30, 2021

“At UWM we focus on our client service, operational efficiency and speed to close loans. With this unwavering focus, we help brokers close loans fast, get referrals and grow their business,” Chief Operating Officer Melinda Wilner said.

Tools 306

Tools Training Technology Clients 306

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. “The riches are in the niches.”

Lending 357

Lending Loan Officers Real Estate Mortgage 357

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. However, not all LOs and brokers are set up to take on an influx of non-QM business.

Lending 386

Lending Investing Loan Officers Design 386

Housing Wire

MARCH 4, 2021

While mortgage lenders would do well to heed the statements from the Consumer Financial Protection Bureau that it will be carefully watching fair lending and servicing issues , especially with the likelihood of a default spike, title and settlement firms will be keeping an eye on more than just the CFPB.

Lending 420

Lending Law Loan Officers Clients 420

Housing Wire

JUNE 17, 2022

It’s a tough time to be a loan officer. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. What makes you the best loan officer?

Loan Officers 356

Loan Officers Business Clients Training 356

Housing Wire

SEPTEMBER 22, 2020

It’s no secret that much of our space is busy trying to push mortgage loans through the pipeline without losing them as their sales funnels overflow. So who could possibly be thinking about compliance right now, except maybe, compliance officers? Do you have qualified trainers who are constantly abreast of changes in the law?

Training 363

Training Lending Loan Officers Technology 363

Housing Wire

APRIL 19, 2022

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Federal regulations mandate that nonbank LOs take training prior to being certified. Regulations to oversee them all.

Training 369

Training Loan Officers Lending Mortgage 369

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 15, 2021

But as of Monday, he will no longer do business with the lender, which originated over $182 billion in mortgages last year and is easily the biggest producer within the space. At stake is the business of about 3,000 brokers who use UWM, Rocket and/or Fairway. “It’s honestly an excellent company,” he said of UWM.

Real Estate Agent 392

Real Estate Agent Loan Officers Retail Training 392

Housing Wire

MAY 6, 2022

In an effort to counter margin compression and satisfy a new generation of homebuyers, lenders are looking to offer loan options that better fit the average borrower. HousingWire recently spoke with John Keratsis, President and CEO of Deephaven Mortgage, about the potential benefits of non-QM lending in today’s tight housing market.

Marketing 350

Marketing Lending Loan Officers Training 350

Housing Wire

FEBRUARY 8, 2022

in early 2021 as part of a larger plan to expand its origination reach beyond California — with the goal of creating a national lending footprint. . With the Castle acquisition and tech integration now completed, our intent is to lend nation nationwide in the non-QM market. It was kind of a no brainer, just low-hanging fruit.

Marketing 361

Marketing Retail Lending Mortgage 361

Housing Wire

AUGUST 7, 2020

As record-low interest rates drive a refinance boom and spikes in mortgage applications, many businesses are adjusting to the present market. One of the drivers for a pivot to profit is that loans are expensive. According to the Mortgage Bankers Association, it costs an average of $7,535 to produce a loan.

Technology 380

Technology Tools Loan Officers Business 380

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan. A lender with $624.6

Lending 389

Lending Real Estate Agent Loan Officers Retail 389

Housing Wire

MARCH 24, 2021

Since UWM president and CEO Mat Ishbia appeared on Facebook Live on March 4 and announced that brokers could not work with Fairway and Rocket Mortgage and still do business with UWM, Fairway has seen a dramatic uptick in business, according to its CEO, Steve Jacobson. “We’re up over 100 inquiries since March 4.”

Real Estate Agent 384

Real Estate Agent Retail Real Estate Design 384

Housing Wire

SEPTEMBER 27, 2021

Exponentially increase your loan officers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loan officers dearly. Sounds too good to be true, doesn’t it?

Loan Officers 369

Loan Officers Training Development Technology 369

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. This way I can help them grow their business. Whatever I have for me, I will do it for them as well.

Mortgage 450

Mortgage Loan Officers Inventory Business 450

Housing Wire

DECEMBER 11, 2023

Despite rising housing unaffordability , we in the real estate business know that homeownership is still a fantastic way to build generational wealth. Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. Back to Bob’s American dream.

Real Estate Agent 441

Real Estate Agent Real Estate Agents Lending 441

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Mike, a North Carolina-based loan officer, had two loans closing in mid-January. The contrast between the deals was striking. “I have a loan closing today for first-time homebuyers who didn’t really press me on pricing,” he said.

Loan Officers 406

Loan Officers Mortgage Lending Real Estate Agent 406