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Fix-and-flip lender Kiavi lays off 7% of employees

Housing Wire

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. Because we are in the hard money space, we don’t have a lot of investors willing to buy our assets because of the rate hikes, is what our CEO told us.”.

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How Blend plans to survive a shrinking mortgage market 

Housing Wire

Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. For investors, a warning: it means that profitability will take some time to achieve. .

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As FGMC shuts down, lender partners question fate of loans in pipeline

Housing Wire

Roughly a year ago, the Austin-based fintech began to sell its loans to First Guaranty Mortgage Corporation (FGMC), a lender and investor that specializes in non-qualified mortgage loans and is controlled by behemoth investment management firm Pacific Investment Management Company (PIMCO). . We’ll probably sell to another investor.

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loanDepot narrows losses in Q2 as margins improve

Housing Wire

A few months later, the company said four top executives would depart , including CFO Patrick Flanagan , Chief Accounting Officer Nicole Carrillo, Chief Human Resources Officer Kevin Tackaberry and LDI Digital President Zeenat Sidi. In addition, Martell expects loanDepot to continue to reduce its headcount given the market uncertainty.

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Introducing the 2021 HW Insiders

Housing Wire

SVP, Secondary Marketing Manager. President of Residential Servicing and Correspondent Lending. Aslan Home Lending. Director of Human Resources. Senior Manager of Customer Engagement and Marketing Technology. VP, Investor Relations. Planet Home Lending. EVP Secondary Marketing.

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How one mortgage servicing company is prioritizing home retention during economic uncertainty

Housing Wire

million borrowers, thousands of investors and more than 100 subservicing clients. On the originations side, we’ve built a scalable, multi-channel lending platform that has grown volume by 16X in just the past year. This will obviously be attractive as investors and MSR holders cope with the aftermath of the pandemic.

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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

Moody’s Investors Service noted that banks hold approximately half of the $6T in commercial real estate debt, with the largest share maturing within the next three years, according to Reuters. It is lack of labor, land/lots, lumber/materials, lending for builders and land developers and ever-costly legal/regulatory costs,” he said.