Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. We don’t have a business of selling leads to real estate brokers and the like. “We

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Business Mortgage Technology Real Estate Agent 295

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

Business 391

Business Mortgage Finance Design 391

Housing Wire

FEBRUARY 27, 2024

Financial services consulting firm ThoughtFocus appointed Santhosh Ananthakrishnan to the position of chief business officer. Before joining ThoughtFocus in January, Ananthakrishnan led the global mortgage business at Tata Consultancy Services.

Business 382

Business Technology Clients Development 382

Housing Wire

JULY 15, 2022

Wells Fargo ‘s second-quarter earnings reflect the broader challenges mortgage lenders face in such a turbulent market – in just six months, a rapid rise in mortgage rates has eroded consumer demand, shocked capital markets and forced mass industry layoffs. The lone bright spot was higher mortgage servicing income.

Business 446

Business Mortgage Lending Retail 446

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year.

Business 386

Business Mortgage Loan Officers Lending 386

Housing Wire

JUNE 20, 2023

North Carolina-based Truist Financial Corporation announced on Tuesday that seasoned mortgage executive David Smith will be the head of Truist Mortgage effective July 31. In addition, Smith will lead the nationwide direct channels and correspondent business, reporting to chief retail and small business banking officer Dontá Wilson.

Business 350

Business Mortgage Retail Lending 350

Appraisal Buzz

MAY 2, 2024

Danielle Walker has been promoted to senior vice president, business development, at Xactus. Walker has almost 20 years of mortgage industry experience helping lenders mitigate risk. She is currently a board member for the Spokane Association of Mortgage Professionals serving as secretary and website committee chair.

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Development Business Valuation Modernization 195

Housing Wire

JUNE 15, 2022

Whenever people want to get a mortgage, they search for professionals who can streamline the process. That’s precisely when your mortgage broker business comes to the rescue. In this article, you will find tips on how to grow your business, as well as five big mistakes that you may be making in the process.

Business 329

Business Mortgage Clients Marketing 329

Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I Wells Fargo’s correspondent lending business was already in a freefall. The bank’s mortgage servicing rights declined by 5% to $9.3

Lending 520

Lending Business Finance Mortgage 520

Housing Wire

OCTOBER 16, 2023

HousingWire recently spoke to Alex Elezaj, chief strategy officer at UWM , about the work independent mortgage brokers can do right now to prepare for when rates drop and how to go above and beyond for clients. HousingWire: Why should independent mortgage brokers embrace today’s market? AE: The reality is, nobody wants a mortgage.

Business 422

Business Real Estate Agent Marketing Clients 422

Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. For lenders, the market offers the prospect of a new and growing line of business.

Business 457

Business Finance Buyers Lending 457

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. ” Grella, who handled more of the operations side of the business , did not respond to a request for comment. NEXA did $6.29

Mortgage 459

Mortgage Brokerage Loan Officers Business 459

Housing Wire

APRIL 24, 2024

Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage. That’s not enough to change your life, your business, your margins. Guess what?

Mortgage 452

Mortgage Business Finance Investing 452

Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. In addition, the Nationwide Multistate Licensing System (NMLS) shows that Jacksonville, Florida-based Smart Rate is no longer authorized to conduct business as of Oct. Strauss’s restriction to do business started Oct.

Business 457

Business Loan Officers Law Mortgage 457

Housing Wire

FEBRUARY 15, 2024

We’ve done the hard work in 2023 to be leaner, to be more agile, to be able to rescale the business in a sustainable fashion.” Indicative of Opendoor’s scaled-back approach to business was the fact that it bought just 11,246 homes in 2023, compared to 34,962 homes in 2022. After posting a $1.4 billion for full year 2023.

Business 385

Business Advertising Inventory Contracts 385

Housing Wire

FEBRUARY 12, 2024

Shannon Robinson has been serving as vice president for the reverse mortgage division at New American Funding (NAF) for just over a year, a time that was marked by a lot of challenges across the reverse mortgage. It was a challenge for so many in the reverse space, but also in the mortgage space, generally,” she said.

Business 435

Business Loan Officers Clients Mortgage 435

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 388

Lending Business Retail Client Relationships 388

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , We did transfer our branches and loan officers to ML Mortgage. A spokesperson for ML Mortgage didn’t immediately reply to a request for comment.

Retail 426

Retail Loan Officers Mortgage Lending 426

Housing Wire

NOVEMBER 12, 2020

In April, with the coronavirus pandemic raging across the country, leaders at JPMorgan Chase made the call: the bank was going to significantly tighten mortgage lending standards. Borrowers weren’t going to get a new mortgage without a 700 or higher credit score and at least 20% down. Its home-lending business sported $1.71

Business 453

Business Mortgage Retail Lending 453

Inman

APRIL 10, 2024

Citing recent court victories, UWM says, "It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender."

Business 168

Business Mortgage 168

Housing Wire

MARCH 26, 2024

Ellington Financial , the parent company of reverse mortgage industry lender and servicer Longbridge Financial , announced the successful closing of a new securitization backed by a pool of proprietary reverse mortgages initially originated by Longbridge. It’s been a tough business.

Mortgage 456

Mortgage Business Investors Marketing 456

Housing Wire

DECEMBER 15, 2023

Dallas, Texas – HousingWire, the leader in mortgage and real estate news and information, proudly announces the ascension of its flagship podcast, HousingWire Daily , to the No. 2 position among business news podcasts in the United States. In-person engagement at events like The Gathering further strengthens the bond.

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Business Advertising Real Estate Law 404

Housing Wire

APRIL 30, 2024

Top executives at Rithm said they continue to evaluate taking the mortgage business public. According to Nierenberg, the company hedged most of the of its mortgage servicing rights (MSRs) risk in the first quarter, creating stability and book value on a forward basis. Meanwhile, the origination business notched a $42.3

Mortgage 427

Mortgage Retail Business Investing 427

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. In our business, that’s the refinance transaction. Anticipating the start of the refi race When mortgage rates finally rose above their historically low levels, the mortgage refinance business started to dry up.

Mortgage 461

Mortgage Technology Tools Business 461

Miller Samuel

SEPTEMBER 5, 2023

The post Bloomberg's Masters in Business: Jonathan Miller on High Mortgage Rates first appeared on Miller Samuel Real Estate Appraisers & Consultants. They are always fun, and Barry keeps the conversation interesting. My wife Cheryl was in the producer's booth, keeping me honest (and taking pictures).

Business 195

Business Mortgage Real Estate Appraisal 195

Housing Wire

APRIL 23, 2024

New York-based multichannel lender US Mortgage Corporation previously announced that it was renewing its efforts in the reverse mortgage industry, having hired industry veteran Ken Krajewski to serve as managing director and head of reverse mortgage lending. Proprietary product offerings are on the table as well.

Mortgage 362

Mortgage Loan Officers Investors Business 362

Housing Wire

OCTOBER 13, 2020

JPMorgan Chase doesn’t see mortgage defaults worsening in the second half of 2020. The bank cited runoff from its mortgage portfolio – driven by a wave of refinancings – as a reason for reducing its reserves. . The post JPMorgan Chase’s mortgage business getting back to normal appeared first on HousingWire.

Business 418

Business Mortgage Retail Investors 418

Housing Wire

MARCH 1, 2023

Higher mortgage rates have zapped mortgage demand, as buyers are having second thoughts about purchasing homes. Mortgage applications for home purchases dropped 6% for the week ending February 24 from the previous week, according to the Mortgage Bankers Association ’s seasonally adjusted index. in the previous week.

Housing Market 395

Housing Market Business Mortgage Marketing 395

Housing Wire

FEBRUARY 22, 2024

Growing and changing is vital to expand your services and business growth so that you can tailor services in REO. Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times.

Business 401

Business Marketing Real Estate Legal 401

Housing Wire

APRIL 24, 2024

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler.

Mortgage 381

Mortgage Loan Officers Training Business 381

Housing Wire

MARCH 31, 2023

The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.

Lending 353

Lending Business Government Design 353

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% BofA’s mortgage assets Bank of America had $227.7 from the $3.9

Mortgage 437

Mortgage Lending Business Finance 437

Housing Wire

APRIL 23, 2024

On Tuesday at The Gathering by HousingWire in Scottsdale, Arizona, Guild Mortgage CEO Terry Schmidt sat down with HousingWire editor in chief Sarah Wheeler to talk about the principles guiding much of the lender’s actions in recruiting, mergers and acquisitions (M&A) and overall business outlook.

Retail 413

Retail Mortgage Technology Development 413

Housing Wire

SEPTEMBER 8, 2022

When mortgage lenders are talking about compliance in loan origination or mortgage servicing, the worst case can be pretty bad, so we often see companies investing heavily in the best tools. Mike is an experienced mortgage loan officer. How marketing automation saved Mike’s business. How marketing saved my business.

Business 452

Business Marketing Technology Tools 452

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The lender ’s new warehouse financing arm will be led by Donnie Martin, who has more than 25 years of mortgage industry experience.

Lending 396

Lending Business Finance Clients 396

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

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Loan Officers Mortgage Retail Lending 430

Housing Wire

APRIL 12, 2024

Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. If a reverse mortgage can help your situation, it still makes sense for a lot of people,” Simmons told the organization.

Mortgage 411

Mortgage Business Lending Marketing 411