Housing Wire

MAY 26, 2022

A Florida-based loan officer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment. Her place of work was not disclosed.

Loan Officers 404

Loan Officers Clients Design Insurance 404

Housing Wire

JANUARY 30, 2024

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. Regarding the plan governance, the bank will maintain the advisory board created under the 2018 plan, and NCRC will appoint half the members.

Investing 329

Investing Mortgage Lending Loan Officers 329

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. trillion or $1.7

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

FEBRUARY 7, 2023

It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed. The product, known as an assumable mortgage, is not new.

Mortgage 369

Mortgage Loan Officers Government Buyers 369

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. “So, A couple of things.

Mortgage 378

Mortgage Loan Officers Advertising Clients 378

Housing Wire

SEPTEMBER 7, 2023

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.” Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

Buyers 380

Buyers Agents Loan Officers Real Estate 380

Housing Wire

JANUARY 24, 2023

California lender New American Funding has partnered with EasyKnock, a New York startup that buys homes and rents them back to sellers, allowing clients to access their home equity through non-traditional means. and 50 states, Broker Solutions has 156 active branches across the country and 1,621 sponsored loan officers, according to the NMLS.

Tenants 331

Tenants Loan Officers Finance Clients 331

Housing Wire

APRIL 18, 2024

Giordano cited a survey demonstrating how certified financial planners (CFPs) had some positive attitudes about reverse mortgages as a planning tool, as well as the creation of model guidance language for broker-dealers and investment advisory firms to use in governing a planner’s interactions with reverse mortgage products.

Loan Officers 354

Loan Officers Tools Mortgage Government 354

Housing Wire

FEBRUARY 9, 2023

The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement. Lisa Thomas, chief executive officer of Town Square, added that the deal also brings “a portfolio of expanded loan products backed by a lending platform with state-of-the-art technology.”

Mortgage 343

Mortgage Retail Loan Officers Lending 343

Housing Wire

MAY 29, 2024

Racamato is now orienting his team to look closely at clients’ bank statements to find multiple — and often interest-free — installments of a few hundred or thousand dollars paid to the same company on a biweekly or monthly basis. He wants to know whether the potential borrower has acquired a buy now, pay later (BNPL) loan.

Mortgage 370

Mortgage Clients Sellers Loan Officers 370

Housing Wire

JUNE 8, 2022

Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market. UWM also is pressuring competitors via prices.

Mortgage 312

Mortgage Real Estate Agent Real Estate Clients 312

Housing Wire

DECEMBER 16, 2021

In November, Interfirst issued pink slips to hundreds of non-commissioned loan officers at its call centers in Charlotte, North Carolina and Rosemont, Illinois, according to WARN notices in both states. Clients upload all documents into their loan origination system directly to reduce/eliminate operational staff.

Mortgage 347

Mortgage Loan Officers Retail Training 347

Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. So, the client is benefiting directly and, you know, we’re addressing really what’s the No.

Mortgage 440

Mortgage Buyers Loan Officers Sellers 440

Housing Wire

NOVEMBER 10, 2022

It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. Of the total employees, 428 are active loan officers, according to mortgage software company Modex. The company has licenses in 49 states, 387 branches and 491 active loan officers.

Mortgage 363

Mortgage Loan Officers Lending Business 363

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. billion of unutilized loan funding capacity as of Dec. The closer, the better. in consumer direct and 2.3%

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

JANUARY 14, 2022

Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. The hiring trend at non-QM lenders stands in sharp contrast to recent layoffs at some consumer-direct lenders, which specialize in conventional refinance loans. trillion in 2022.

Lending 325

Lending Loan Officers Real Estate Mortgage 325

Housing Wire

NOVEMBER 7, 2023

Potter added: “Government lending would come to a halt. These clients are typically low on funds, which is why they need this type of financing. Mortgage professionals voiced their concerns of the potential ripple effects that might have on those cash-strapped buyers, depending on the results of the commission lawsuits. “It

Agents 443

Agents Sellers Buyers Finance 443

Housing Wire

JANUARY 18, 2023

Brown anticipates more consolidation in the industry on the mortgage production side, as “there’s less than one loan being done by a loan officer per month on average,” he said. So, it’s definitely not like selling a loan to a GSE (government-sponsored enterprise). You need a buyer and seller,” Brown said.

Housing Market 420

Housing Market Marketing Insurance Mortgage 420

Housing Wire

DECEMBER 27, 2023

The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. Now under pressure in a shrinking market, they see their top loan officers transition to other competitors. By the same measure, Guild had just 1.1% We had about 400 sellers on our own.

Mortgage 376

Mortgage Retail Lending Sellers 376

Housing Wire

MARCH 16, 2022

government.”. Gaietto said that in such an environment, LOs may be more susceptible to cyberattacks because they will rush to close a loan quickly and be less mindful of the things that they are clicking. “Escalating tension between the U.S. and Russia also increases the risk that Russian threat actors will directly attack U.S.

Mortgage 367

Mortgage Marketing Lending Loan Officers 367

Housing Wire

NOVEMBER 10, 2020

At that point, Dodson was actively working on a jumbo loan for friends of his from church. “I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said. And non-QM loans in my experience are harder.”.

Business 424

Business Mortgage Investors Loan Officers 424

Housing Wire

SEPTEMBER 29, 2020

You’ve probably staffed up on loan officers equipped to handle this influx, and you may be shunning riskier, less immediately gratifying business. They are specialists when it comes to buying and servicing government loans. Their overarching goal is to help grow happiness — for customers, for clients and for their staff.

Lending 402

Lending Loan Officers Business Investors 402

Housing Wire

MARCH 31, 2022

Overall, I think the consensus we’re hearing from clients is that the overall non-QM market is going to continue to grow in 2022. BH: There’s no question that non-QM is more difficult to originate than conforming or government loans, so many mainstream brokers and loan officers have been reluctant in the past to offer these products.

Marketing 328

Marketing Investors Technology Loan Officers 328

Housing Wire

FEBRUARY 8, 2022

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. Non-QM loans typically make use of alternative-income documentation because borrowers cannot rely on conventional payroll records or otherwise fall outside agency credit guidelines.

Marketing 346

Marketing Retail Lending Mortgage 346

Housing Wire

MARCH 1, 2022

In eOriginal’s 2020 Tech100 nomination, the company boasted about the efficiency their ClosingCenter product brought to mortgage lending clients; Fairway achieved 80% faster mortgage acceptance by secondary market investors and also realized a 90% reduction in interest expenses to warehouse lenders for mortgages closed using ClosingCenter.

Real Estate 328

Real Estate Brokerage Real Estate Agent Technology 328

PennyMac

MARCH 4, 2024

Mortgage brokers work independently with a variety of loan originators, including direct lenders, to help clients find a mortgage that fits their needs. Which type of mortgage lender you choose depends on your personal preference, the type of loan you’re looking for and your financial situation. Mortgage brokers.

Loan Officers 65

Loan Officers Insurance Mortgage Sellers 65

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. If they want to know what’s going on with rates, their loan, AI can give them an answer.

Mortgage 440

Mortgage Loan Officers Inventory Business 440

Housing Wire

JANUARY 24, 2023

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices.

Lending 345

Lending Law Legal Training 345

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. In turn, thousands of loan originators could soon be looking for a new lender to hang their license. But not every LO will find a new workplace.

Mortgage 369

Mortgage Loan Officers Retail Finance 369

Housing Wire

JANUARY 22, 2024

He has more than 25 years of mortgage technology and enterprise software experience with his latest stint being chief product officer at Accela , a government tech provider. Polly’s “client-centricity” attracted him to the business, he noted. before it was acquired by ICE in 2020.

Technology 336

Technology Mortgage Loan Officers Clients 336

Genworth MI Blog

AUGUST 31, 2022

Foster: With COVID-19, the government-sponsored enterprises (GSEs) enacted temporary allowances for flexibilities in appraisals and inspections. All of these pieces of the appraisal process work together to ensure the lender-client is making a prudent business decision in regard to collateral.

Inspection 78

Inspection Appraisal Marketing Appraisal Process 78

Town & Country Residential Appraisals

JANUARY 24, 2020

If you ever experience this from a loan officer, feel free to report this behavior to the CFPB here. In an ideal world, both agents fight for the interest of their client (whether the buyer or the seller) and this results in a market value sale. They always come in at exactly the contract price. This one is hard to understand.

Appraisal 36

Appraisal Market Value Contracts Clients 36

AmeriMac

MARCH 15, 2024

Appraisal Management Companies (AMCs) play a crucial role in the real estate industry by providing independent appraisal services to lenders and other clients. If any issues or discrepancies are identified, the AMC works with the appraiser to address and resolve them before delivering the final report to the lender or client.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

Housing Wire

OCTOBER 23, 2023

” Martell’s first big move as CEO was to announce the Vision 2025 plan in July 2022, which included simplifying the organizational structure, focusing on client service, quality, automation and operating leverage. Our percentage of government conforming has increased, which is good. We’re stable. Do people get offers?

Technology 396

Technology Loan Officers Retail Marketing 396

Housing Wire

JANUARY 12, 2021

Following other recent moves from the government-sponsored enterprises to the private sector, former Fannie Mae Head of Digital Products Henry Cason announced his move to FinLocker , a consumer-permissioned personal financial assistance tool. FinLocker CEO Henry Cason. I felt like I probably did everything I needed to do with Fannie Mae.”.

Tools 319

Tools Loan Officers Lending Design 319

Appraisal Today

MAY 10, 2024

I have never done an “official” ROV for a lender, but I did not like any lender clients objecting to my values. New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted.

Reconsideration of Value 76

Reconsideration of Value Appraisal Real Estate Insurance 76

AmeriMac

SEPTEMBER 1, 2021

They will also deliver the report to the lender or other client as well. In 2009, Freddie Mac and Fannie Mae, government housing lending institutions, the Federal Housing Finance Agency (FHFA) and the New York Attorney General got together to create the Home Valuation Code of Conduct (HVCC).

Appraisal 36

Appraisal Valuation Law Lending 36