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. However, if the contract was terminated with cause – which includes cases of fraud or breach of fiduciary duty, among others – he would not receive the severance compensation.

Retail 358

Retail Contracts Loan Officers Mortgage 358

Housing Wire

JANUARY 12, 2024

billion in home loans, representing only 23% of the $108 billion volume in the previous year, when it was still the kingfish in correspondent lending. But the retail channel also declined – to $24 billion in 2023 from $64 billion the previous year – due in large part to higher rates. Home lending revenues declined to $3.3

Mortgage 361

Mortgage Lending Retail Business 361

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Go Mortgage, licensed in 44 states, originates in both the retail and wholesale channels.

Mortgage 336

Mortgage Marketing Retail Construction 336

Housing Wire

NOVEMBER 15, 2023

Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. billion in mortgages through the retail channel, a 60.3% In 2018, it acquired Franklin American Mortgage. In the first half of the year, Citizens originated $2.4 Correspondent channel volume came in at $2.5

Retail 399

Retail Mortgage Brokerage Finance 399

Appraisal Buzz

JANUARY 11, 2022

Aspire Home Loans LLC, an independent mortgage banker, has signed a contract to implement Black Knight Inc. ’s These advanced capabilities will support first mortgages for Aspire Home Loans’ retail lending channel and help enhance the borrower experience, support its employees and help drive business growth.

Retail 195

Retail Contracts Lending Business 195

Housing Wire

NOVEMBER 23, 2022

MBA estimates the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) fell to 6.67% from the previous week’s 6.90%. In light of this, HousingWire recently caught up with Teraverde’s Rob Peterson to learn more about what lenders need to succeed in today’s lending environment.

Mortgage 393

Mortgage Contracts Retail Lending 393

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. A Movement representative did not return a request for comments. Additional Maryland, Washington, D.C.,

Retail 349

Retail Contracts Legal Business 349

Housing Wire

SEPTEMBER 1, 2020

Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City. Citizens is not alone.

Loan Officers 369

Loan Officers Retail Lending Contracts 369

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. The first transaction is the most important, but we want to make sure we have a relationship with you afterward.

Loan Officers 363

Loan Officers Mortgage Lending Retail 363

Housing Wire

JUNE 9, 2021

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. In 2019, the lender announced that it would leave the retail channel, barely three years after it acquired EverBank for $2.5 billion in cash. billion in cash. TIAA has focused on digital mortgages since then.

Lending 359

Lending Retail Business Contracts 359

Housing Wire

DECEMBER 21, 2021

They expect shops with a consumer direct model, which tend to be refi-heavy and rely on call centers for intake, will be more likely than retail shops to cut employees in the months to come. Retail people don’t get laid off as much because they own their book of business.

Loan Officers 437

Loan Officers Retail Business Mortgage 437

Housing Wire

JANUARY 10, 2024

The lender asserted claims for breach of contract, fraud, unfair competition and tortious interference, among others. ” “The mortgage lending industry is highly competitive. Guild claims the group stole “substantial amounts” of information, recruited away its employees and created confusion among its customers.

Legal 377

Legal Lending Contracts Mortgage 377

Housing Wire

DECEMBER 2, 2020

Finance of America , which operates through retail, wholesale and correspondent channels, reported $242 million in income during the third quarter, a 66% increase from the second quarter. billion of it coming through its forward-lending arm. The company funded $9.17 billion in the third quarter, with about $8.5

Finance 216

Finance Lending Retail Business 216

Housing Wire

DECEMBER 20, 2023

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal.

Loan Officers 438

Loan Officers Clients Law Legal 438

Housing Wire

MARCH 15, 2023

retail residential mortgage applications. ” The MBA survey shows that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) was 6.71% last week, down from the previous week’s 6.79%. for the week ending March 10 compared to the prior week. ”

Mortgage 347

Mortgage Clients Retail Marketing 347

Housing Wire

FEBRUARY 3, 2022

Analysts at Cider Knoll Holdings , an equity research firm specializing in nonbank mortgage originators, project earnings per share for 10 nonbank mortgage companies to contract 30% in the fourth quarter, compared to the previous quarter. As pure-play retail mortgage lenders go, Guild has been a bright spot.

Mortgage 358

Mortgage Retail Finance Investors 358

Housing Wire

JUNE 2, 2023

All these other retail lenders are doom and gloom, saying: “The market is so hard, I gotta wait for next year.” The only originators are retail or wholesale. Small retail lenders originate the loan, close it, and then sell it to Pennymac. The retail lender. ” We recognize what reality is. They buy loans.

Retail 342

Retail Inventory Mortgage Loan Officers 342

Housing Wire

DECEMBER 16, 2021

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.” Interfirst 3.0?

Mortgage 333

Mortgage Loan Officers Retail Training 333

Housing Wire

JANUARY 27, 2023

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. We are going to pursue the investor niche aggressively, meeting very specific realtors.

Lending 357

Lending Real Estate Agent Loan Officers Retail 357

Housing Wire

SEPTEMBER 20, 2022

” According to Tullos, the company made an arrangement to work on a contract basis with some of the employees that were laid off. ” Although ResMac has a retail channel, the company was built on a wholesale model, which has been impacted by aggressive pricing, mainly from the leader United Wholesale Mortgage (UWM).

Marketing 326

Marketing Investors Retail Mortgage 326

Housing Wire

MARCH 11, 2022

Lenders One did not disclose the financial terms of the contract. This is not the first deal amongst mortgage lenders and big-box retailers: Costco has a partnership with Ohio-based CrossCountry Mortgage , which in 2020 acquired First Choice Loan Services , inheriting Costco’s mortgage program. It’s not necessarily easy.

Mortgage 339

Mortgage Retail Lending Law 339

Appraisal Today

MARCH 15, 2024

In previous downturns, such as during the 2008 recession, there were many foreclosures due to bad lending. Why today’s slowdown is very different from previous downturns – CovidThe crazy ups and downs in lending in a short period of time had never happened before. The average contract interest rate for 5/1 ARMs was unchanged at 6.38

Appraisal 69

Appraisal Inspection Modernization Business 69

Appraisal Today

JULY 28, 2023

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) remained unchanged at 6.87 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $726,200) increased to 6.90 percent, with points decreasing to 0.65 percent from 6.89

Appraisal 79

Appraisal Contracts Mortgage Clients 79

Appraisal Today

JANUARY 5, 2024

I suppose it is because most appraisals are done (now) for residential lending purposes. Get licensed or certified (24%) Grow my business (23%) “As the lending side of the commercial appraisal business has declined, we are actively networking to increase our private party work for CPAs, lawyers, and estate planning professionals.”

Appraisal 74

Appraisal Contracts Legal Business 74

Appraisal Today

DECEMBER 8, 2023

”… Question 2: does the lending industry owe the appraiser a living? Next is, “Does the real estate mortgage lending industry owe the real estate appraiser a living?” That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. percent from 7.37

Appraisal 66

Appraisal Real Estate Contracts Design 66

Housing Wire

AUGUST 23, 2023

We’ve done that through products like One Day Mortgage, which are helpful to a consumer if they’re buying or shopping for a home because literally the same day that they enter into a purchase contract, they can get a commitment letter on their mortgage.

Realtors 346

Realtors Technology Insurance Mortgage 346

Appraisal Today

APRIL 21, 2023

Excerpts: In the settlement, the DOJ said PNB, headquartered in Newark, Ohio, relied on its branch network, mortgage lenders concentrated in majority-white neighborhoods, and internal referrals to originate home loans in the Columbus lending area. The average contract interest rate for 15-year fixed-rate mortgages increased to 5.89

Appraisal 52

Appraisal Contracts Modernization Mortgage 52

Appraisal Today

JULY 14, 2023

To read click here Short video (2 minutes): Future of Condo Lending. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.07 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $726,200)increased to 7.04

Tools 76

Tools Appraisal Insurance Contracts 76

McKissock

APRIL 20, 2021

Receive basic training in contracts and how to price properties using comparative marketing analysis. Of members surveyed, only 5 percent reported that real estate was their first career; 17 percent had a previous career in management, business, finance, sales or retail. Set clear expectations upfront about your availability.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Realtors 98

Appraisal Today

APRIL 19, 2024

Private Money Lending – fast turn times, high fees. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.13 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $766,550) increased to 7.40

Appraisal 67

Appraisal Contracts Valuation Design 67

Appraisal Today

NOVEMBER 24, 2023

Quite different than others in the lending business who just want to make as much money as they can. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.41 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 7.19

Appraisal 74

Appraisal Mortgage Business Contracts 74

Appraisal Today

MAY 19, 2023

To read more, click here = Non-Lending Appraisal Assignments: Interview with Joshua Walitt by Kendra Budd, Editor, Working RE Excerpt: Q: Is there anything appraisers should know about non-lender work before starting? The reality is you don’t know what you don’t know, especially if you’ve never done non-lending appraisals.

Appraisal 52

Appraisal Business Contracts Real Estate 52

Housing Wire

MARCH 23, 2023

In the mortgage space, warehouse lending is a very lucrative business for the banks, so in general they’ll want to keep warehousing lending, maybe over other types of lending,” said Brian Hale, founder and CEO of consulting firm Mortgage Advisory Partners. It’s just a matter of to what degree.

Lending 396

Lending Investing Insurance Mortgage 396

Appraisal Today

AUGUST 4, 2023

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.93 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $726,200) decreased to 6.89 The average contract interest rate for 5/1 ARMs increased to 6.18

Appraisal 71

Appraisal Business Contracts Real Estate 71

Appraisal Today

APRIL 14, 2023

If our business revolves around mortgage lending, we are used to dealing with clients who have a certain level of sophistication. Many of us have learned to truncate our verbiage because our lending clients do not want to read volumes. We are used to addressing our reports in a manner that the lending client expects.

Appraisal 52

Appraisal Bracketing Contracts Valuation 52

Appraisal Today

FEBRUARY 23, 2024

Take Note of GSE Requirements To read more, Click Here My comment: If you do residential lending appraisals, read this article! The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.06 The average contract interest rate for 5/1 ARMs increased to 6.37

Appraisal 67

Appraisal Real Estate Contracts Reconsideration of Value 67

Appraisal Today

FEBRUARY 17, 2023

To read more click here My comment : Take a break and scroll down the list to see some great photos! == Staff Layoffs at AMCs By Dave Towne Excerpts: Appraisers, it’s not ‘just us’ who have taken the slowdown in lending “in the shorts.” The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.25

Real Estate Agent 52

Real Estate Agent Real Estate Appraisal Agents 52