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FoA Mortgage’s shutdown brightens the prospects of a small Indiana lender

Housing Wire

A team of more than 60 mortgage bankers at now-defunct Finance of America Mortgage has landed at Hallmark Home Mortgage. Marc Wadman will continue to lead the group as Hallmark’s senior vice president/regional manager. ” With the addition of Wadman’s team, Hallmark now has about 250 workers. .

Retail 263
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Fannie Mae warns Northern CA mortgage lenders of child support income scheme

Housing Wire

The GSE highlighted four hallmarks of such a scheme. Fannie Mae has issued a mortgage fraud alert for lenders in northern California, warning of heightened instances of misrepresented child support income in “numerous loans” that have been originated in the region over the past few months.

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Is the housing market really 20% overbuilt?

Housing Wire

If the housing market was in the grips of some mass hysteria of irrational purchasing, we would expect to see certain hallmarks in the data. Nevertheless, some supposedly erudite thinkers on the housing market are saying this, so I thought I should investigate.

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Tips for productive and successful negotiations

Housing Wire

Ultimately, this practice discovers even more opportunities for the win-win — the hallmark of a truly successful conclusion. We suggest examining carefully for every advantage and gain that can come from a productive conversation.

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Closing the gap: Increasing homeownership among diverse communities

Housing Wire

Homeownership is a hallmark of the American Dream; it’s one of the few paths to building generational wealth and achieving financial freedom. Unfortunately, for many, it can feel like a pipedream. According to a recent report from the U.S. Census , the homeownership rate has dropped to 63.1%, its lowest rate since 1970.

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Better.com to employees: Please quit

Housing Wire

Given the headwinds facing our industry, collaboration and innovation – the hallmarks on which Better built its success – will be more essential than ever,” he said. For the employees who decide to stay, Benson-Armer wrote in the email that the company is returning to in-office mode in the coming weeks.

Business 393
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FoA suffers $302M loss in Q3 amid forward mortgages shutdown

Housing Wire

As part of this strategy, FoA is helping its loan officers and branches to transition to other companies, such as American Pacific Mortgage and Hallmark Home Mortgage. The company’s executives expect to provide more services and products to other lenders due to the exit from the forward mortgage business.

Mortgage 349