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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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First Community Mortgage selects Blue Sage platform to scale business

Housing Wire

For Blue Sage, Aach said that the company’s loan officer portal will be a key element to help FCM reach its growth goals, since it provides specialized tools for LOs to do their jobs. “In FCM originated $2 billion in home loans last year through its wholesale and retail divisions, the company reported.

Business 421
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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

Coming off multiple quarters of financial losses , Rocket has accelerated those efforts in 2023, embarking on a remote local loan officer hiring spree designed to capture purchase market business from real estate agent connections, sources told HousingWire. So this isn’t brand new,” Kidwell noted.

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Guaranty rolls out GAssist, a new borrower application portal

Housing Wire

The portal is designed to offer GHMC partners a “unique borrower online application experience” at no additional costs. The company has 48 state licenses, three retail branches and 13 loan officers. Last month, the lender hired Andy Voyles as its executive vice president and director of retail lending.

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Blue Sage Solutions launches digital servicing platform

Housing Wire

Software development company Blue Sage Solutions has launched a new servicing platform that merges loan origination and servicing functions using API-based technology. Additionally, the platform is accessible to all users, regardless of their current loan origination software.

Retail 421
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Movement taps Brady Yeager for national sales director role

Housing Wire

“I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. ” With over 21 years in finance and mortgage lending roles, Yeager’s experience spans investment banking, residential retail mortgage, and private mortgage lending.

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U.S. Bank’s Fred Bolstad to speak at Spring Summit

Housing Wire

Fred Bolstad, executive vice president of retail lending at U.S. Bolstad will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Lisa Patterson, chief originations officer at Homepoint. He leads both retail sales and operations, a channel that originated over $47 billion in 2020.

Retail 397