Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. We just see a lot of growth opportunities here in terms of building our branch and building our team,” Lotsoff said in an interview with HousingWire.

Loan Officers 382

Loan Officers Mortgage Lending Retail 382

Housing Wire

APRIL 2, 2024

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. Most recently, NAF acquired $2 billion Chicago-based retail shop Draper & Kramer Mortgage Corp.

Loan Officers 405

Loan Officers Retail Finance Buyers 405

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Housing Market 378

Housing Market Mortgage Marketing Real Estate 378

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

JULY 16, 2021

The second big mortgage joint venture announcement this week is a meeting of the Glenns. Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The Mobile “Must-Haves” Reshaping Mortgage Technology. Presented by: SimpleNexus.

Mortgage 403

Mortgage Lending Brokerage Agents 403

Housing Wire

APRIL 4, 2022

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . compared to the previous year, according to Inside Mortgage Finance. The higher-rate landscape is affecting all mortgage companies.

Mortgage 442

Mortgage Supply Chain Retail Loan Officers 442

Housing Wire

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 395

Lending Renovations Construction Finance 395

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. I feel bad trying to convince somebody that it’s a good time to buy and get a mortgage. higher than last year.

Mortgage 382

Mortgage Loan Officers Inventory Retail 382

Housing Wire

AUGUST 12, 2022

Add Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, despite an effort to reduce expenses. In the most challenging mortgage market in well over a decade, executives at Impac have opted to pull back on non-QM products , which represent most of the company’s originations.

Mortgage 369

Mortgage Lending Retail Inventory 369

Housing Wire

FEBRUARY 27, 2023

Mortgage lender CRM and marketing automation solutions provider Insellerate has launched a new third party origination (TPO) solution for wholesale lenders, the company announced on Monday during ICE Experience. The new product is fully integrated into loan origination systems, like ICE Technology’s Encompass and MeridianLink.

Loan Officers 380

Loan Officers Retail Inventory Lending 380

Housing Wire

MAY 8, 2023

In the first quarter of 2023, California-based lender Guild Mortgage , which announced a leadership transition in March, continued to face pressures from high mortgage rates and low inventory levels – just like its peers. Guild, the purchase-focused lender with a distributed retail model, delivered a $37.2 ”

Retail 380

Retail Inventory Mortgage Business 380

Housing Wire

MAY 25, 2023

The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements.

Business 381

Business Mortgage Loan Officers Inventory 381

Housing Wire

SEPTEMBER 11, 2023

Cliffco Mortgage Bankers is among the rare independent mortgage banks doing more business than last year. To get there, Cliffco, which has been in business since 1987, is going after the non-qualified mortgage ( non-QM ) market and investing in tech to get in front of buyers and non-agent referral partners.

Loan Officers 393

Loan Officers Agents Retail Technology 393

Housing Wire

APRIL 18, 2023

In a cyclical mortgage industry, hedging is key to maintaining a buffer against losses. The outside distributor retail is a hedge against the call center in the different environments. Because there are retail LOs building that in-person relationship with their real estate agents and financial advisors.

Retail 358

Retail Business Agents Loan Officers 358

Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

Marketing 450

Marketing Mortgage Supply Chain Inventory 450

Housing Wire

JULY 1, 2022

On the heels of a global COVID -19 pandemic that keeps rearing its head, the housing economy is now faced with rising rates and dismal inventory. Sprout Mortgage. Cherry Creek Mortgage. First Guaranty Mortgage Corporation. Enact Mortgage Insurance. Fairway Independent Mortgage Corporation. Thrive Mortgage.

Marketing 382

Marketing Realty Real Estate Lending 382

Housing Wire

SEPTEMBER 2, 2022

When Mohtashami first used the phrase in his commentaries back in March, he said, “I have lost my five-year home-price growth model of 23% in just two years, and inventory has worsened in 2022. Unfortunately, this phrase still rings true six months later.

Retail 390

Retail Housing Market Inventory Lending 390

Housing Wire

MAY 14, 2021

In his estimation, a higher rate environment and hyper-competitive pricing will provide United Wholesale Mortgage an opening salvo to win a war of attrition and build an even bigger army of loyal mortgage brokers. That’s what happens in the mortgage biz, and then they’ll settle in, [to] normal numbers.

Mortgage 393

Mortgage Retail Inventory Investors 393

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? Weekly inventory increased by 1,734. This assumes the spreads are wide as the mortgage-back securities market is still very stressed.

Housing Market 382

Housing Market Marketing Inventory New Listings 382

Housing Wire

JUNE 2, 2023

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? .”

Retail 370

Retail Inventory Mortgage Loan Officers 370

Housing Wire

JULY 20, 2023

The mortgage industry continues to rightsize , and On Q Financial is taking it as an opportunity to expand through loan officer recruitment and tapping into its network of homebuilders. New builds are a bright spot in a bleak housing market as buyers seek new builds due to the lack of resale inventory.

Loan Officers 279

Loan Officers Brokerage Real Estate Lending 279

Housing Wire

OCTOBER 2, 2020

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. It originated about $36 billion in mortgages during the first half of the year, according to Inside Mortgage Finance.

Valuation 398

Valuation Retail Mortgage Inventory 398

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. Regions, a retail lender with a footprint of over 1,300 physical offices, has dipped into specialty finance sectors before. It will maintain its headquarters in Salt Lake City.

Renovations 395

Renovations Home Improvement Marketing Finance 395

Housing Wire

DECEMBER 30, 2022

The first is the overall business transformation that’s taking place in the mortgage industry. Home prices have never been higher, pent-up demand stronger and housing inventory tighter. We’re seeing new energy and new initiatives in this area at many mortgage and housing agencies. Because I am.

Lending 374

Lending Transportation Government Mortgage 374

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. In servicing, Pennymac delivered a pretax income of $101.2 As of Sept.

Sellers 410

Sellers Mortgage Inventory Marketing 410

Housing Wire

JULY 27, 2023

Although the performance was propelled by its servicing portfolio – as occurred in previous quarters – mortgage production returned to profitability. trillion, still well below normalized levels, as mortgage rates are currently near 7%. The company reported on Thursday its net income came in at $58.3 million in Q2 2023, up from $30.4

Sellers 344

Sellers Valuation Inventory Mortgage 344

Housing Wire

OCTOBER 2, 2020

AmeriHome on Thursday became the latest mortgage lender to file for a public offering, the latest to do so amid a coronavirus pandemic that has helped spur record origination volume this year. AmeriHome uses the bank Cenlar to subservice 99% of its mortgage loans. And the servicing portfolio – where it earns fees between 25 and 56.5

Valuation 275

Valuation Mortgage Business Modernization 275

Housing Wire

AUGUST 9, 2023

This is because surging mortgage rates , upcoming regulatory changes and regional bank collapses have forced large depositories to pull back. Our analysis of Home Mortgage Disclosure Act (HMDA) data focuses on conventional, non-conforming first-lien mortgages used to purchase or refinance single-family dwellings. billion), U.S.

Marketing 364

Marketing Retail Mortgage Investors 364

Appraisal Today

AUGUST 4, 2023

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting. They really help.

Appraisal 72

Appraisal Business Contracts Real Estate 72

Housing Wire

AUGUST 16, 2023

The biggest nonbank mortgage lenders in America saw improved performance in both origination and servicing segments in the second quarter, capitalizing on the continued mortgage pullback from banks. As we’ve reported, that trend looks sticky, which could help change the fortunes of top independent mortgage banks sooner than expected.

Retail 368

Retail Real Estate Agent Business Mortgage 368

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 Source: Mortgage Bankers Association. in the three years prior to the pandemic.

Lending 382

Lending Mortgage Real Estate Loan Officers 382

Appraisal Today

JANUARY 5, 2024

I suppose it is because most appraisals are done (now) for residential lending purposes. NOTE: Please scroll down to read the other topics in this long blog post on New CA bias classes, 2024 New Years resolutions, 2024 goals, unusual homes, mortgage origination stats, etc. Mortgage applications decreased 9.4 baths, 4,000 sq.ft.,

Appraisal 76

Appraisal Contracts Legal Business 76

Appraisal Today

MAY 10, 2024

New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The mortgage loan officer handling the loan?

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

Appraisal Today

APRIL 21, 2023

Excerpts: In the settlement, the DOJ said PNB, headquartered in Newark, Ohio, relied on its branch network, mortgage lenders concentrated in majority-white neighborhoods, and internal referrals to originate home loans in the Columbus lending area. Mortgage applications decreased 8.8 HOW TO USE THE NUMBERS BELOW.

Appraisal 52

Appraisal Contracts Modernization Mortgage 52

Housing Wire

APRIL 5, 2022

Rocket Pro TPO has launched a program that will guarantee financing to close in 15 days, a move to entice mortgage brokers and their real estate agent partners in a scorching-hot housing market. It also represents yet another sweetener designed to convince brokers to choose them over rival United Wholesale Mortgage. Sponsored Video.

Real Estate Agent 382

Real Estate Agent Finance Retail Mortgage 382

Appraisal Today

MAY 19, 2023

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = If you started appraising before AMCs took over, such as mortgage brokers, you had to do some marketing.

Appraisal 52

Appraisal Business Contracts Real Estate 52

Appraisal Today

DECEMBER 8, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, dealing with lender hassles, real estate market, unusual homes, mortgage origination stats, etc. = $36M Beachfront Beauty on Maui Hawaii Excerpts: What exactly makes this oceanside manse on Maui so desirable? Investor purchases of U.S.

Appraisal 67

Appraisal Real Estate Contracts Design 67