Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.

Inventory 491

Inventory Housing Market Marketing New Listings 491

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officers 397

Loan Officers Mortgage Inventory Clients 397

Housing Wire

MARCH 20, 2024

About 65 mortgage professionals have not transitioned from AmCap Home Loans to its acquirer, CrossCountry Mortgage (CCM), and rival New American Funding (NAF) has hired the AmCap personnel to expand its business in Texas, the lender announced last week. According to Inside Mortgage Finance , NAF was the 31st largest U.S.

Mortgage 432

Mortgage Loan Officers Inventory Finance 432

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage 485

Mortgage New Listings Loan Officers Inventory 485

Housing Wire

MARCH 31, 2022

Mortgage rates keep climbing amid rising inflation , war in Ukraine, and disruptions to the supply chain, and there’s no sign that they’ll fall anytime soon. The latest weekly Freddie Mac PMMS mortgage survey, released Thursday, showed that the average purchase mortgage rate touched 4.67%, up 25 basis points from the week prior.

Supply Chain 512

Supply Chain Mortgage Inventory Loan Officers 512

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

Inventory 397

Inventory Marketing Business Buyers 397

Housing Wire

AUGUST 28, 2023

Retail lender Guild Mortgage announced Monday the acquisition of First Centennial Mortgage, a privately-held Illinois-based lender with 15 branches predominantly in the Midwest and a presence in 17 states. Guild has been acquiring lenders to expand in local markets in a purchase mortgage-focused environment.

Mortgage 370

Mortgage Retail Loan Officers Construction 370

Housing Wire

JANUARY 11, 2024

Clients of FinLocker include loan officers, mortgage lenders, servicers, banks and credit unions. The platform also offers mortgage and financial education, credit score monitoring, credit report access, and tools to improve credit, pay down debt, save for a down payment and track progress toward mortgage eligibility.

Investing 441

Investing Loan Officers Technology Inventory 441

Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings.

Mortgage 397

Mortgage Loan Officers Inventory Buyers 397

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.

Mortgage 384

Mortgage Loan Officers Inventory Retail 384

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

Loan Officers 410

Loan Officers Mortgage Buyers Finance 410

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. The latest Mortgage Bankers Association (MBA) report confirms Stone’s perceptions. retail residential mortgage applications.

Mortgage 397

Mortgage Loan Officers New Listings Government 397

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 384

Business Mortgage Loan Officers Inventory 384

Housing Wire

OCTOBER 17, 2023

Mortgage tech firm Blend has launched a lower-cost version of its mortgage suite for retail independent mortgage banks, the company announced this week. This offering, called Blend IMB Essentials, includes many of the same features of its standard offering for mortgage lenders. of Blend told HousingWire. “The

Retail 441

Retail Loan Officers Inventory Mortgage 441

Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. The reverse mortgage industry, he added, is adding its own brand of perseverance to the table.

Retail 418

Retail Mortgage Business Loan Officers 418

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

Mortgage 421

Mortgage Loan Officers Buyers Inventory 421

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 473

Mortgage Real Estate Agent Renovations Finance 473

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

Mortgage 370

Mortgage Loan Officers Lending Retail 370

Housing Wire

FEBRUARY 12, 2024

Amanda Phillips, EVP of Compliance, ACES Quality Management In the current mortgage landscape, ensuring the highest standards of loan quality is paramount not only during the origination process but also over the life of the loan. AP: QC is crucial for lenders to ensure loan quality and mitigate risk.

Mortgage 410

Mortgage Technology Inventory Lending 410

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

Mortgage 384

Mortgage Loan Officers Government Buyers 384

Housing Wire

MARCH 30, 2023

Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage , spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. Connie Kim: You had a long run at Wyndham Capital Mortgage dating back to 2011.

Mortgage 397

Mortgage Retail Loan Officers Brokerage 397

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 450

Mortgage Supply Chain Retail Loan Officers 450

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 397

Loan Officers Agents Retail Technology 397

Housing Wire

NOVEMBER 3, 2021

For the first time since the beginning of the pandemic, purchase mortgages outpaced refinancings in the third quarter of 2021, according to the latest TransUnion report published on Wednesday. The total mortgage balances grew 8% year-over-year to $10.5 The post Purchase mortgages overtake refis in Q3 appeared first on HousingWire.

Mortgage 397

Mortgage Loan Officers Inventory Housing Market 397

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Among mortgage brokers, Cohen ranked first. Cohen funded $751.4 Cohen funded $751.4

Marketing 384

Marketing Mortgage Inventory Loan Officers 384

Housing Wire

APRIL 28, 2022

Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. The multichannel lender, which originated roughly $13 billion in residential mortgage last year, declined to provide any details about the layoffs. The lender’s origination volume increased 25.8% billion, up 65.5%

Mortgage 370

Mortgage Loan Officers Retail Construction 370

Housing Wire

NOVEMBER 10, 2023

Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I I think we were up right around 15% increase in the number of initial mortgage applications.

Mortgage 432

Mortgage Inventory Marketing Retail 432

Housing Wire

JUNE 15, 2022

Before the volatility wrought by high inflation and speculation about a rate hike by the Federal Reserve , mortgage applications increased 6.6% from the prior week, according to the latest Mortgage Bankers Association survey for the week ending June 10. For the week that ended June 3, mortgage applications fell 6.5% from 11.3%

Mortgage 370

Mortgage Loan Officers Brokerage Inventory 370

Housing Wire

MARCH 29, 2023

When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications. And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed.

Mortgage 410

Mortgage Real Estate Agent Buyers Loan Officers 410

Housing Wire

MARCH 2, 2023

Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. The 30-year fixed-rate mortgage on Thursday, March 2 touched 7.10% , up 16 basis points from 6.94 Lower mortgage rates back in January brought buyers back into the market. on Wednesday.

Mortgage 441

Mortgage Buyers Loan Officers Marketing 441

Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview.

Loan Officers 397

Loan Officers Investors Mortgage Clients 397

Housing Wire

SEPTEMBER 5, 2023

Intercontinental Exchange (ICE) completed its acquisition of Black Knight Tuesday, making the combined company the biggest player in the mortgage tech space. I sat down with Tim Bowler, president of ICE Mortgage Technology, a business unit of ICE, to talk about the company’s mortgage automation strategy — and what keeps him up at night.

Technology 397

Technology Mortgage Tools Insurance 397

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 284

Loan Officers Brokerage Real Estate Lending 284

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

MARCH 6, 2023

There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. With the industry cooling down slower than expected, LOs are having to work harder and get creative to overcome the double whammy of surging rates and a lack of inventory.

Loan Officers 384

Loan Officers Inventory Real Estate Agent Buyers 384

Housing Wire

JANUARY 25, 2022

By all accounts, most mortgage companies enjoyed a solid 2021 and likely generated decent cash over the last two years. As we move forward into 2022, I believe cash will truly be king in the mortgage industry. This includes how much cash is used to fund new loans, cycle time on loans in inventory, and how fast you’re selling loans.

Mortgage 370

Mortgage Inventory Business Loan Officers 370