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With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders. Learning to utilize that technology for a database that can be used to maintain constant contact with clients and retain business was crucial, Smallwood said. “We’re

Retail 369
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What mortgage lenders need to know about wholesale

Housing Wire

Desmond Smith: There are two ways to get a mortgage — wholesale or retail. Retail lending is when you walk into a bank branch or go to an online lender, and they help you get a mortgage. DS: The growth of the channel has been significant, especially in terms of technology. HW: How has wholesale changed over the past 2–3 years?

Mortgage 362
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United Wholesale Mortgage’s Blink+ tool includes an LOS, POS and CRM all in one package

Housing Wire

The wholesale channel will continue to grow as more retail originators and borrowers learn the benefits of working with a mortgage broker. At UWM we focus on our client service, operational efficiency and speed to close loans.

Tools 321
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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process. “I was told by the recruiter this division – Rocket retail started a year ago. billion in 2021.

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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 Godin made plans to relaunch the business in late 2019 as a tech-forward lender that originated loans across both wholesale and retail channels. In 2012, Dmitry Godin was seemingly on top of the world. 375% below the market.”

Mortgage 360
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Freedom Mortgage Wholesale Division offers brokers a comprehensive purchase and refinance product suite

Housing Wire

During this period of significant opportunity for purchase transactions and refinances, brokers and wholesale correspondents (non-delegated) need to align to wholesale lenders that provide deep industry expertise, comprehensive products and efficient operational support to support their clients’ strategies. 1 VA, FHA and GNMA lender.”.

Mortgage 196
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Savvy real estate agents look beyond ChatGPT

Housing Wire

Too many real estate agents are watching artificial intelligence (AI) from the sidelines, assuming technology will never replace them. However, it was deemed as too challenging technologically so it languished. It is trained on text data and learns to identify patterns from that data to generate human-like text responses.