Contracts Legal Loan Officers Retail 
Housing Wire
DECEMBER 20, 2023
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.
Housing Wire
JANUARY 29, 2024
Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Therefore, we will follow the agreed upon contract and win damages.” UWM sued Kevron Investments Inc.
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Housing Wire
FEBRUARY 26, 2024
Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S.
Housing Wire
FEBRUARY 5, 2024
million to acquire Residential Mortgage Services Holdings (RMS), a Maine-headquartered retail lender of which Seely was president and CEO. RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. Seely joined Guild in 2021 when the California-based lender paid $196.7
Housing Wire
JUNE 29, 2023
It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot. and Delaware employees also transitioned to the retail competitor. In some cases, Movement offered a $125,000 signing bonus to loanDepot loan originators to come to the company, the lawsuit claims.
Housing Wire
JANUARY 30, 2023
According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division. million when considering all 140 potential class members.
Housing Wire
MARCH 15, 2024
Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. On average, about 50% of referrals to a retail LO come from buyers’ agents, VanFossen said.
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