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MBA president sees opportunities for dual licensing in post-settlement landscape

Housing Wire

Dual licensing is one of the opportunities being opened to the mortgage industry by the National Association of Realtors ’ (NAR) pending nationwide settlement of commission lawsuits , according to Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA). And some of you will say I want nothing to do with that.

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The ‘double-edged sword’ of dual licensing

Housing Wire

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

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Better narrows loss in 2023, aims to reach profitability soon

Housing Wire

The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loan officers. 31, 2023, we had three warehouse facilities for a total capacity of $425 million.”

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NFM CIO Christos Bettios on building AI solutions from scratch

Housing Wire

Editor in Chief Sarah Wheeler sat down with Christos Bettios, chief information officer at NFM Lending , to talk about the company’s private, proprietary GPT that is making his whole team more efficient. He started his career as a developer and spent 10 years as a senior product manager at Fannie Mae.

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Yoga and a mortgage? Guaranteed Rate has a new app for that

Housing Wire

More than a mortgage app Developed by the company’s in-house technology team, the Rate App took two-and-a-half years to bring to market and an investment of “millions of dollars,” Ciardelli said, though he declined to provide a specific figure. Delivering value to stay relevant So what is the new app’s business benefit for loan officers?

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How the buyer commission lawsuits could upend the relationship between agents and LOs

Housing Wire

Attorneys, Realtors and clients are a big part of our repeat business.” There will likely be fewer Realtors, the sales volume will be handled by fewer Realtors. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

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Matt Van Fossen on farm-to-table programming

Housing Wire

A differentiating factor of our tech is that lots of point of sale systems are built to faciitate loan officers with the business they already have. We are focused on compliance and data capture at the top of the funnel, so we look at: how do we introduce loan officers not only to new technology, but to new business opportunities?