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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

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Opinion: The role of the LO will soon be very different

Housing Wire

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

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University Bank adds four reverse mortgage veterans to its HECM division

Housing Wire

Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year. University Bank has been around for 130-plus years,” he said.

Mortgage 390
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These LOs are TikTok sensations. They call a potential ban “unfortunate”

Housing Wire

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

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Cornerstone Capital Bank gets into subservicing

Housing Wire

With proactive engagement and intuitive technologies , our customizable subservicing solutions are uniquely designed to eliminate common pain points for homeowners, such as unreliable service, confusing escrow changes, and lack of clear and timely information regarding their mortgage.” billion in assets.

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How does the “buy before you sell” model differ from iBuyers and Power buyers?

Housing Wire

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. Next, ask potential BBYS vendors how they collect, retain, and safeguard your clients’ data.

Buyers 362
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Roostify’s platform delivers an efficient experience for borrowers and LOs

Housing Wire

By incorporating Roostify’s mortgage application software into CoreLogic’s suite of products, clients can benefit from an end-to-end integrated workflow to the loan origination process. It also has bi-directional LOS integrations, which revolutionize the lending experience.

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