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Top LO Tim Potempa joins E Mortgage Capital

Housing Wire

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. ” According to Scotsman Guide , Potempa was the No. million. .”

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Patton Gade, top LO for VA loans, heads to UMortgage

Housing Wire

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

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To overcome surging mortgage rates, borrowers are turning to mom and dad

Housing Wire

The loan officers that Scott Groves talks to are struggling. I would say a vast majority of LOs have woken up to the fact that it won’t get easier,” said Groves, a branch manager at Synergy One Lending and owner of Consolidated Coaching. “I Really struggling.

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Desperate for deals, mortgage pros get creative

Housing Wire

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. There are also advantages to working with buyers in a less competitive marketplace. What we’re seeing is just increased competition over every deal.

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AmeriFirst Financial gets back into forward mortgage origination

Housing Wire

The lender maintained their servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. AmeriFirst will keep physical branches in 20 states, but under a new corporate model, no branch managers will make an override on the production of the loan officers they manage.

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Flyhomes looks to grow via wholesale channel

Housing Wire

“To my knowledge, we are the only ones who set this up as a traditional wholesale channel, which makes it easier for these third parties to add it as a product in the suite that they already have access to — all of their agency loans, government loans, jumbo, non-QM, construction. This is just one more arrow in their quiver.”

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Some mortgage companies expanding despite challenges

Housing Wire

When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Mortgage lender Planet Home Lending has a new team in Portland, Oregon, where it will focus on borrowers looking to work with homebuilders. and Puerto Rico, according to the firm.

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