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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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New American Funding onboards top Chicago loan officer 

Housing Wire

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

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Revolution Mortgage snags top loanDepot loan officers

Housing Wire

Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. Revolution, on the other hand, has been expanding its footprint by scooping up top loan officers in local markets.

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January Demo Day: Digital Lending Platform

Housing Wire

Blue Sage: Digital Lending Platform Our Digital Lending Platform is a multi-channel, end-to-end digital mortgage solution that provides a superior experience for lenders and customers. Product Fast Facts #1 Robust flagship LOS and mobile apps for borrowers, loan officers, correspondents, and brokers. Get More Info

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Fintech Maxwell acquires digital lending platform Revvin 

Housing Wire

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. The financial terms of the transaction have not been disclosed.

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Mountain West Financial sells retail assets to ML Mortgage Corp. 

Housing Wire

one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loan officers to ML Mortgage. As of Thursday, per the Nationwide Multistate Licensing System (NMLS), it had 18 active branch locations and 86 sponsored loan officers.

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Tane Cabe joins C2 Financial’s reverse mortgage division

Housing Wire

Cabe, who most recently served as president of reverse mortgage lending at Fairway Independent Mortgage Corp. He also previously served as a reverse mortgage consultant for Security One Lending in the early 2010s. “I C2 has the support and allows more options for my clients.

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