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With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

The brokers were in agreement that recruiting talent and maintaining strong partnerships will be key to not only brand development, but a lasting foundation that will continue post-pandemic. “So We’re not out building a retail person’s name. I mean we’re talking up to 30 years,” Nichols said.

Retail 370
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Longbridge Financial marks two years of national field sales

Housing Wire

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.

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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.

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What mortgage lenders need to know about wholesale

Housing Wire

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. Desmond Smith: There are two ways to get a mortgage — wholesale or retail.

Mortgage 362
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Interfirst to lay off 140 employees

Housing Wire

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. Godin relaunched the business in late 2019 as a lender focused on both wholesale and retail channels. Six months ago Interfirst Mortgage Co.

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HUD dings Movement Mortgage for alleged fair housing violations

Housing Wire

The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development. NCRC alleged the Fort Mill, South Carolina-based retail lender discriminated against Black and Hispanic people seeking mortgages in the Seattle-Tacoma area.

Mortgage 386
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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

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. I think 99% of the loans that I was writing there were refinances.

Mortgage 360