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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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Thomas Yoon to steer Lead+ Wholesale Lending

Housing Wire

California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. It’s not just about offering non-QM loans; it’s about providing a foundation for brokers to confidently navigate this complex market,” Yoon said in a statement. “Our

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Acra Lending partners with solutions provider Tavant

Housing Wire

Acra Lending , a private mortgage lender, announced its integration with Tavant ’s Touchless Lending Collateral Analysis. This partnership marks a milestone in Tavant’s expansion into non-QM lending. Collateral Analysis is a proprietary product of Tavant’s Touchless Lending automation platform.

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First Community Mortgage selects Blue Sage platform to scale business

Housing Wire

Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in. In FCM’s case, this also includes interim servicing.

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Deephaven Looks to Increase Partners’ Non-Agency Lending Opportunities

Appraisal Buzz

Non-agency lender Deephaven has announced new income qualification options that are designed to enable brokers and correspondents to compete for more credit-worthy borrowers who are locked out of agency mortgages. These options give loan officers the opportunity to fill a large.

Lending 370
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Opinion: The role of the LO will soon be very different

Housing Wire

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

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University Bank adds four reverse mortgage veterans to its HECM division

Housing Wire

Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year. University Bank has been around for 130-plus years,” he said.

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