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

Housing Wire

Tech-fueled mortgage lender UpEquity just wants answers. . Depending on the month, FGMC bought between one-fourth and one-third of the loans UpEquity sold to investors through the correspondent channel. It’s caused frustration for FGMC’s lending partners. We’ll probably sell to another investor.

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How Blend plans to survive a shrinking mortgage market 

Housing Wire

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. 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. ” In 2021, Blend processed more than 1.8

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Top-producing Draper and Kramer LOs spurn NAF

Housing Wire

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. This is reflected in data collected by the mortgage tech platform Modex and the Nationwide Multistate Licensing System (NMLS). billion in mortgages in 2023. and NFM Lending. A spokesperson at NAF did not respond to a request for comments.

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loanDepot narrows losses in Q2 as margins improve

Housing Wire

The California-based mortgage lender had its second consecutive double-digit revenue gain amid increasing origination volumes and margins. Changes in leadership came with the decision to consolidate LDI Digital, including mellohome, into its existing production channels, under the direction of LDI Mortgage President Jeff Walsh.

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

Housing Wire

Today, Ocwen Financial Corporation is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. million borrowers, thousands of investors and more than 100 subservicing clients. At the end of Q2, we serviced more than $206 billion in UPB.

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Introducing the 2021 HW Insiders

Housing Wire

United Wholesale Mortgage. First Guaranty Mortgage Corporation. First American Mortgage Solutions. DHI Mortgage Company. American Mortgage Network. First Community Mortgage. President of Residential Servicing and Correspondent Lending. Freedom Mortgage. Academy Mortgage Corporation.