Housing Wire

APRIL 18, 2024

A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment.

Loan Officers 444

Loan Officers Human Resources Contracts Mortgage 444

Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

Loan Officers 403

Loan Officers Tools Business Clients 403

Housing Wire

JULY 3, 2023

The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. We’ll reach out to those loan officers in markets where we have existing retail branch locations. Instead, tapping high-volume loan officers in targeted locations has worked for PrimeLending. “We

Loan Officers 351

Loan Officers Marketing Retail Renovations 351

Housing Wire

JANUARY 4, 2023

The lender said that despite not formally renewing the contract, CAVU continued to provide the services as of September 2022. The employees’ PrimeLending contracts had non-solicitation, non-interference and confidentiality clauses, according to the lawsuit. That equates to a loss of about 10% of PrimeLending’s workforce.

Loan Officers 471

Loan Officers Contracts Mortgage Legal 471

Housing Wire

NOVEMBER 1, 2023

The platform aims to “directly originate HEIs by leveraging the company’s nationwide correspondent network of loan officers and establishing direct-to-consumer origination channels,” the company told HousingWire. 16, Gifford said that Redwood stopped buying home equity investment (HEI) contracts prior to the launch of Aspire.

Investors 414

Investors Investing Contracts Loan Officers 414

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

Loan Officers 468

Loan Officers Retail Business Mortgage 468

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 414

Loan Officers Legal Real Estate Lending 414

Housing Wire

APRIL 1, 2024

I think loan officers are getting used to the rate environment as it is now, versus hanging on to the idea that they’re going to get better and things will pick up.” Parks has overseen other changes in the division, including growth of its third-party associate channel that works alongside Longbridge’s loan officer corps.

Loan Officers 382

Loan Officers Training Business Retail 382

Housing Wire

JULY 27, 2022

a subsidiary of Warren Buffet’s Berkshire Hathaway , discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority areas and sent racist internal emails. It must also contract with a lender to administer $18.4

Loan Officers 418

Loan Officers Mortgage Law Contracts 418

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. 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. In 2020, it originated $8.5

Retail 415

Retail Contracts Loan Officers Mortgage 415

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. Anthony Hsieh, founder and CEO of loandepot. loanDepot reported a net loss of $91.3

Loan Officers 396

Loan Officers Contracts Legal Business 396

Housing Wire

SEPTEMBER 7, 2023

Loan officers may increasingly place more importance on reaching consumers directly especially when a buyer takes initiative in the homebuying process rather than relying on agents. “If One of the top loan officers in the nation has set up webinars that he does four times a week and he is building up his own pipeline.”

Buyers 410

Buyers Agents Loan Officers Real Estate 410

Housing Wire

FEBRUARY 24, 2023

They value a previous underwriter, loan officer or real estate agent’s experience in the industry because these candidates have a deep knowledge of the inner workings of the business. That vast experience could be just what a rookie agent or loan officer needs. Proptech Certain proptech companies are actively hiring.

Loan Officers 371

Loan Officers Real Estate Agent Real Estate Agents 371

Housing Wire

APRIL 26, 2023

Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire.

Mortgage 415

Mortgage Loan Officers New Listings Government 415

Housing Wire

MARCH 8, 2023

However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. In addition, loan officers said that investors took advantage of a slower market. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. from the week prior.

Mortgage 385

Mortgage Loan Officers Investors Government 385

Housing Wire

SEPTEMBER 27, 2023

According to Paasonen, when the housing market is contracting, Maxwell is doubling down on its origination infrastructure to become a “one-stop shop for lenders.” Meanwhile, Colorado-headquartered Maxwell claims it has facilitated over $275 billion in loan volume to date and serves more than 300 lenders nationwide.

Lending 424

Lending Technology Loan Officers Clients 424

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” ” He added that the hope is we see some improvement in the spring or summer, “but it’s anyone’s guess.”

Mortgage 468

Mortgage Loan Officers Finance Buyers 468

Housing Wire

MARCH 1, 2023

The API integration will allow lenders to bring product offerings to open houses, allowing them to engage borrowers “earlier in the lifecycle,” and will also enable lenders to better support co-marketing partners like real estate agents and loan officers.

Real Estate Agent 315

Real Estate Agent Technology Open Houses Loan Officers 315

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. The group also alleges that the company conducted a defamatory campaign against them after their layoffs in July 2022. million when considering all 140 potential class members.

Loan Officers 473

Loan Officers Retail Contracts Mortgage 473

Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors.

Legal 303

Legal Contracts Lending Loan Officers 303

Housing Wire

NOVEMBER 23, 2022

With the mortgage market rapidly shrinking – some experts believe it might contract to just $1.3 The buydown option is not a new concept, but for loan officers who joined the refi boom, it’s a new concept they need to learn. “As ” Trudy Kelly, senior loan officer at Churchill Mortgage.

Buyers 493

Buyers Marketing Sellers Loan Officers 493

Housing Wire

OCTOBER 5, 2023

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. The recent Saluda Grade-sponsored rated offering represents the sixth securitization deal since 2021 backed fully by shared-equity contracts — valued in total at some $1.3

Housing Market 427

Housing Market Marketing Contracts Finance 427

Housing Wire

FEBRUARY 7, 2023

of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. And as a result, few mortgage loan officers have experience or comfort with the product. Tozer suggested “a fee of 1.3%

Mortgage 389

Mortgage Loan Officers Government Buyers 389

Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. Now it’s all rates.

Mortgage 441

Mortgage Technology Contracts Realtors 441

Housing Wire

NOVEMBER 1, 2022

Caliber claims Cario conspired with Union to “execute an illegal scheme of unfair competition,” and also used/misappropriated trade secrets and interfered with the lender’s business relations and contracts. The company had 520 active loan officers as of October, per Modex’s data.

Retail 300

Retail Mortgage Contracts Loan Officers 300

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. .

Loan Officers 419

Loan Officers Retail Lending Contracts 419

Housing Wire

JANUARY 27, 2022

Vesta has a system of record for loan origination data and documentation; a workflow engine to orchestrate process among borrowers, loan officers, underwriters; and open APIs (application programming interface) for partners to build their own solutions.

Mortgage 376

Mortgage Investors Loan Officers Technology 376

Housing Wire

AUGUST 1, 2022

The lawsuit, filed Wednesday in the United States District Court, District of Nevada, includes two counts: breach of contract and breach of fiduciary duty/duty of loyalty. In July, the nonbank lender loanDepot sued rival CrossCountry for allegedly poaching dozens of high-performing loan officers from its New York branches.

Loan Officers 390

Loan Officers Mortgage Retail Contracts 390

Housing Wire

DECEMBER 1, 2021

Company sources told HousingWire that refi-focused, salaried loan officers made up the majority of the hundreds of employees who received pink slips. Better’s loan officers do not receive commissions. Of the 77 employees that will be laid off, 49 of them are loan officers.

Loan Officers 415

Loan Officers Finance Business Mortgage 415

Housing Wire

JULY 19, 2022

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors.

Mortgage 421

Mortgage Loan Officers Technology Real Estate 421

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. EPM filed a counterclaim against JIM for breaching the sponsorship contract by changing the car’s driver starting May 2022. “Wholesale is growing. It’s a shift that is happening in the market.

Retail 368

Retail Loan Officers Landlords Lending 368

Housing Wire

JUNE 10, 2022

In January, Wyndham had a round of layoffs when pink slips arrived for 35 loan officers across its offices in Dallas, Charlotte, Salt Lake City, Kansas City and Phoenix. As the market contracts, originators Interfirst Mortgage Co. and Better.com are implementing their second and third round of layoffs, respectively.

Mortgage 396

Mortgage Loan Officers Retail Contracts 396

Housing Wire

DECEMBER 21, 2022

“Finally, CrossCountry is likely to be found liable for aiding and abetting the Individual Defendants’ contractual and fiduciary violations, as well as being responsible for tortious interference with contract.”. In July 2022, loanDepot sued the rival again for allegedly poaching high-performing loan officers from its New York branches.

Legal 403

Legal Loan Officers Contracts Business 403

Housing Wire

FEBRUARY 11, 2022

The current higher rates — an increase of nearly 50 basis points over the past month — will lead to “an enormous contraction of refinance activity,” Kiefer said. On the ground, that means that lenders’ gain on sale margins will contract, as originating purchase mortgages is more costly than refinances.

Mortgage 397

Mortgage Contracts Loan Officers Insurance 397

Housing Wire

FEBRUARY 3, 2023

The Lock ‘n’ Roll program is eligible for conventional and government fixed-rate loans, with the lock period being a minimum of 60 days, according to its website. With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex. billion.

Loan Officers 347

Loan Officers Buyers Contracts Mortgage 347

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. The average contract interest rate for 5/1 ARMs decreased to 5.38% last week, down from 5.44% the previous week. The MBA data shows refinancings were 31.9%

Mortgage 346

Mortgage Marketing Loan Officers Contracts 346

Housing Wire

SEPTEMBER 2, 2021

Without loan officer adoption, that spend becomes frivolous, making a lender’s decisions on which technologies to include in the tech stack extremely important. While new technologies have a reputation for breaking the bank, the average lender only budgets less than 10% of their overall operations costs for technology.

Technology 450

Technology Loan Officers Mortgage Investing 450