Housing Wire

JANUARY 5, 2024

But this isn’t your standard poaching lawsuit: G-Rate alleges that NAF has wooed at least 30 employees since early 2023 via illegal loan officer compensation practices. The departing employees included a divisional manager, branch and regional managers, and loan officers. This approach is illegal.”

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Loan Officers Retail Law Business 450

Housing Wire

MARCH 28, 2024

The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform. The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Better posted a GAAP net loss of $59.5

Loan Officers 424

Loan Officers Technology Investing Realtors 424

Housing Wire

OCTOBER 2, 2023

BLVR – a marketing and promotional campaign launched by EPM on Monday – aims to reach as many retail loan officers to provide information about the wholesale channel. When retail loan originators visit the website, LOs are asked to fill out their names, contact information and comments or questions about wholesale lending.

Retail 404

Retail Loan Officers Lending Business 404

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

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Loan Officers Mortgage Finance Buyers 433

Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

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Loan Officers Tools Business Clients 423

Housing Wire

NOVEMBER 21, 2023

21, the company had 1,826 loan officers and 401 active branches, per the Nationwide Multistate Licensing System (NMLS). 21, NMLS showed the lender had eight loan officers and 13 branches. year over year. It claims that in 2022, it added a net 5% in personnel while most companies saw a net decrease of 24% in workforce.

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Loan Officers Retail Lending Renovations 414

Housing Wire

SEPTEMBER 13, 2023

Florida-based financial services firm The Graystone Company has completed the acquisition of mortgage banker and broker Direct Capital Investment Group through a reverse merger transaction, the companies announced Monday. Direct Capital, through its subsidiary Direct Mortgage , offers residential, commercial and SBA loans, per its website.

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Loan Officers Investing Lending Mortgage 391

Housing Wire

SEPTEMBER 11, 2023

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. The lender has about 80 loan officers and aims to hire up to 100 in states.

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Loan Officers Agents Retail Technology 393

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender.

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Business Loan Officers Law Mortgage 433

Housing Wire

APRIL 30, 2024

We’ve also implemented project management technologies and streamlined processes to improve workflow and turnaround times for loan officer requests, effectively halving the time it takes to fulfill them. Instead, we invest heavily in empowering our loan officers.

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Loan Officers Technology Modernization Project Management 414

Appraisal Buzz

MAY 3, 2024

Patelco is California’s fourth-largest credit union mortgage lender by number of loans closed annually. The credit union’s 214 loan officers will use the Empower LOS to originate retail home loans, home-equity loans and home-equity lines of credit (HELOCs).

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Loan Officers Modernization Retail Tools 195

Housing Wire

FEBRUARY 1, 2024

The restructuring also includes reduced compensation for loan officers, and sources said that many are seeking new opportunities at rival lenders. ” Employees on Thursday told HousingWire that significant changes were made to loan officer compensation agreements and they expected many LOs to depart for other lenders.

Retail 424

Retail Loan Officers Business Real Estate 424

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. In 2023, he closed $925 million in loan origination volume, with 1,617 loans, which put him as the top originator on Scotsman Guide ’s top originators list.

Realty 403

Realty Loan Officers Retail Real Estate 403

Housing Wire

OCTOBER 9, 2023

More than a mortgage app Developed by the company’s in-house technology team, the Rate App took two-and-a-half years to bring to market and an investment of “millions of dollars,” Ciardelli said, though he declined to provide a specific figure. Delivering value to stay relevant So what is the new app’s business benefit for loan officers?

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Loan Officers Mortgage Technology Realtors 414

Housing Wire

JANUARY 19, 2024

Patriot Bank added: “The bank entered into a consent order with the DOJ because the terms of the agreement affirm and adopt the programs and actions that the bank has already been implementing on its own for many years to help meet mortgage credit needs in the communities it serves, including its investment of $1.9

Loan Officers 449

Loan Officers Lending Advertising Home Improvement 449

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. The lender claims Atlantic Trust’s submission of the loans equates to at least $335,000 in liquidated damages.

Contracts 433

Contracts Loan Officers Lending Retail 433

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

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Loan Officers Retail Business Mortgage 433

Housing Wire

APRIL 20, 2023

Distributed retail lender Guild Mortgage has picked up a top-producing team of loan officers, branch managers and back-office staff in California from rival retail shop Fairway Independent Mortgage.

Loan Officers 382

Loan Officers Retail Mortgage Investing 382

Housing Wire

JANUARY 10, 2024

In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina. Pennymac invested more than $1.5 million over the course of 12 years.

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Investing Development Tenants Loan Officers 407

Housing Wire

FEBRUARY 15, 2024

More recently, we’ve been hiring loan officers, processors and underwriters as the company has been starting to grow,” Garg said. The VA team reflects a different strategy for the company when hiring employees, Garg added.

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Loan Officers Finance Mortgage Lending 404

Housing Wire

AUGUST 17, 2023

5000 – is a mortgage broker and partners with other lenders to generate leads for VA, FHA, purchase, refi and personal loans. At a time when refis dried up and loan officers are in desperate need of deals, some loan officers are leaning into buying leads — from companies including Zillow , Realtor.com and Freerateupdate.com.

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Loan Officers Mortgage Development Lending 370

Housing Wire

APRIL 27, 2023

“I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. ” With over 21 years in finance and mortgage lending roles, Yeager’s experience spans investment banking, residential retail mortgage, and private mortgage lending.

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Loan Officers Retail Lending Investing 370

Housing Wire

APRIL 29, 2024

Fulton is purchasing $6 billion in assets from Republic, including its $2 billion investment portfolio and $2.9 billion in loans. billion in 2023, with most of it being conventional (74%) and purchase (65%) loans. The bank had 766 loan officers as of Monday, according to the Nationwide Multistate Licensing System (NMLS).

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Loan Officers Insurance Mortgage Lending 412

Housing Wire

FEBRUARY 28, 2024

Newrez loan officers, in return, will benefit from predictive analytics that allow them to better manage customers along their home purchase journey, the lender said. Sellers can receive a 1% real estate agent commission reduction when selling with a Newzip-affiliated agent.

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Real Estate Agent Real Estate Agents Loan Officers 414

Housing Wire

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. Founded in 1996, Pennsylvania-based Spring EQ offers home equity, HELOCs, refis and purchase loans. The terms of the deal were not disclosed. accelerates.

Loan Officers 393

Loan Officers Investing Technology Mortgage 393

Housing Wire

MARCH 19, 2024

Nierenberg joined the company in 2013 and has recently repositioned it from a real estate investment trust (REIT) into a leading global asset manager. It also included reduced compensation for loan officers, sources told HousingWire in February.

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Loan Officers Retail Real Estate Mortgage 410

Housing Wire

JUNE 28, 2023

One consequence of mortgage lenders – and LOs, for that matter – being on the ropes is the lack of investment back into their business. Interestingly, 57% of the 166 respondents said they do not plan to invest in tech, services or solutions in the third quarter. Mortgage is famously an unforgiving, low-margin business.

Mortgage 370

Mortgage Retail Investing Open Houses 370

Housing Wire

JUNE 16, 2023

SimpleNexus , a homeownership platform developer for loan officers, borrowers, real estate agents, and settlement agents, announced this week a new integration with Empower, the loan origination system (LOS) from Black Knight. This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.

Loan Officers 370

Loan Officers Real Estate Agent Technology Real Estate 370

Housing Wire

AUGUST 1, 2023

Coming off multiple quarters of financial losses , Rocket has accelerated those efforts in 2023, embarking on a remote local loan officer hiring spree designed to capture purchase market business from real estate agent connections, sources told HousingWire.

Loan Officers 370

Loan Officers Retail Real Estate Agent Real Estate 370

Housing Wire

MAY 23, 2022

Pink slips will arrive for California employees at six offices in Thousand Oaks, Pasadena, Roseville, Westlake Village, Agoura Hills, and Moorpark. The latest round of WARN notices will impact 59 loan officers in the Thousand Oaks, Pasadena, and Roseville offices. The company announced it was investing $3.9

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Loan Officers Human Resources Mortgage Business 393

Housing Wire

JUNE 30, 2023

“The increased investment in technology and additional resources GRI brings will enhance and strengthen an already established foundation.” ” Premia ‘s production represents a small share of G-Rate’s origination volume, which reached $7 billion in the first three months of 2023.

Mortgage 370

Mortgage Loan Officers Technology Buyers 370

Housing Wire

JANUARY 7, 2022

Pink slips arrived for nearly three dozen loan officers at Wyndham Capital Mortgage on Wednesday, HousingWire has learned. The consumer direct mortgage lender, headquartered in Charlotte, North Carolina, said it laid off 35 LOs across its offices in Dallas, Charlotte, Salt Lake City, Kansas City, and Phoenix.

Mortgage 404

Mortgage Loan Officers Retail Advertising 404

Housing Wire

FEBRUARY 14, 2024

With the acquisition of Academy, Guild will be onboarding nearly 200 branches and 1,000 new employees, about 600 of which are loan officers. Approximately 200 employees will be laid off, the majority of which are based in Academy’s home office in Draper, Utah, Schmidt said. Guild Mortgage ’s acquisition of Academy Mortgage Corp.

Retail 414

Retail Mortgage Loan Officers Construction 414

Housing Wire

SEPTEMBER 24, 2022

Pink slips were issued to workers in the learning and development team, developers and support staffers in the IT department, as well as loan officers, multiple current and former employees told HousingWire. Caliber did not respond to requests for comment. Every responsible lender is looking at their costs. We are in a tough market.”.

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Loan Officers Development Mortgage Finance 404

Housing Wire

SEPTEMBER 7, 2023

The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

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Buyers Agents Loan Officers Real Estate 393

Housing Wire

SEPTEMBER 5, 2023

First, Lind said, it is important to note that nearly 50% of non-QM production right now is investor loans. They would rather invest money in the housing market than in the stock market,” he said. We increased our liquidity and found more buyers for our loans. There is a lot of demand, so that is a positive.”

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Marketing Loan Officers Lending Brokerage 393

Housing Wire

JANUARY 12, 2022

Guaranteed Rate will continue to thrive and win market share by having a laser focus on leveraging our industry-leading purchase platform augmented by the best loan officers in the business,” Guaranteed Rate CEO Victor Ciardelli wrote in an email to brokers that HousingWire reviewed.

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Retail Loan Officers Best Value Business 382