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Knock reverses course on loan officer pay cut

Housing Wire

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources. But on Thursday morning, Knock reversed course. It began 2021 in 14 markets and is now in 70.

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Inside Fairway’s bold plan to boost reverse purchase business

Housing Wire

Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. And so, they know the local real estate agents. Diagnosing low H4P uptake. Harlan Accola.

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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

Most real estate agents, builders and potential customers have no idea that this financing option exists to purchase homes,” he said. Few loan officers make the purchase product a main part of their business. There is an incredible opportunity for growth,” he said. Why is this market underserved?

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AmeriFirst Financial gets back into forward mortgage origination

Housing Wire

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.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

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. And Rocket is well aware.

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How boutique lender Revolution Mortgage plans its expansion

Housing Wire

Margin compression, higher mortgage rates, and a purchase-focused market are dictating more sales process control among loan officers and fewer layers of bureaucracy in retail lenders. The lender has broker products, including non-QMs and jumbo loans, he added. The lender originated a volume of $1.8 It’s the local relationships.

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Opinion: Title firms can win more business by turning workflow weaknesses into strengths

Housing Wire

Regardless, it’s clear that title businesses will need to compete for their share of that available volume, in large part, by differentiating themselves from the competition. In doing so, these title businesses will very likely be building unique differentiators for themselves , not just for the short term. Processes, or chokepoints?

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