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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 369
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What mortgage lenders need to know about wholesale

Housing Wire

Desmond Smith: There are two ways to get a mortgage — wholesale or retail. Retail lending is when you walk into a bank branch or go to an online lender, and they help you get a mortgage. DS: The growth of the channel has been significant, especially in terms of technology. HW: How has wholesale changed over the past 2–3 years?

Mortgage 357
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Interfirst to lay off 140 employees

Housing Wire

The company’s job cuts include human resources, technology, talent acquisition, and executive assistant positions. Godin relaunched the business in late 2019 as a lender focused on both wholesale and retail channels. The workforce reduction is also focused on mortgage loan production.

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United Wholesale Mortgage’s Blink+ tool includes an LOS, POS and CRM all in one package

Housing Wire

The wholesale channel will continue to grow as more retail originators and borrowers learn the benefits of working with a mortgage broker. This allows UWM to build our own technology and deploy faster rather than rely on other vendors and continues to level the playing field for mortgage brokers.”. Mat Ishbia, President and CEO.

Tools 321
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Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators. Interfirst was founded in 2001 as a retail originator and then expanded to the wholesale channel and the correspondent channel in 2008 and 2011, respectively.

Mortgage 384
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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. In 2012, Dmitry Godin was seemingly on top of the world. Building the plane while flying it.

Mortgage 354
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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process. “I was told by the recruiter this division – Rocket retail started a year ago. billion in 2021.