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How Blend plans to survive a shrinking mortgage market 

Housing Wire

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. And it doesn’t plan to cut prices.

Mortgage 392
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USAA Federal Savings Bank cuts 130 positions in real estate lending 

Housing Wire

San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. in 2021, mortgage data platform Modex showed. of the total volume in 2021, its origination shifted toward purchase mortgages, which accounted for 73.1%

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As the market shifts to purchase, LOs get creative

Housing Wire

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. According to the Mortgage Bankers Association ’s yearly forecast, purchase mortgage originations are expected to grow by 9% to $1.73

Marketing 397
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How one mortgage servicing company is prioritizing home retention during economic uncertainty

Housing Wire

Today, Ocwen Financial Corporation is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. million borrowers, thousands of investors and more than 100 subservicing clients. At the end of Q2, we serviced more than $206 billion in UPB.

Mortgage 369
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Introducing the 2021 HW Insiders

Housing Wire

United Wholesale Mortgage. First Guaranty Mortgage Corporation. First American Mortgage Solutions. DHI Mortgage Company. American Mortgage Network. First Community Mortgage. President of Residential Servicing and Correspondent Lending. Freedom Mortgage. Academy Mortgage Corporation.

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Frank Martell talks loanDepot’s restructuring, path to profitability and M&As 

Housing Wire

” 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. And not just adding tons of people — that is the traditional model in mortgages. What happened?