Housing Wire

SEPTEMBER 11, 2023

Target buyers for Cliffco include non-traditional buyers seeking investor loans. Roughly 20% of Cliffco’s production comes from the wholesale channel and 80% of origination volume comes from its retail channel – through which it offers GSE, government loans and non-QM products.

Loan Officers 388

Loan Officers Agents Retail Technology 388

Housing Wire

APRIL 23, 2024

Investor interest, product offerings When asked about investor interest, Krajewski said that partners are eager about the prospect of more companies entering the reverse mortgage business — especially firms that are well known to them. One of our goals is building out a retail sales team, which is really important to us.

Mortgage 333

Mortgage Loan Officers Investors Business 333

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. So this isn’t brand new,” Kidwell noted.

Loan Officers 364

Loan Officers Retail Real Estate Agent Real Estate 364

Housing Wire

MARCH 6, 2024

Sagent’s solutions include Loanserv, a servicing system of record powering collections, accounting, escrows, investor management and customer care; Tempo, a default management system of record powering loss mitigation, foreclosure and bankruptcy; and Account Connect, a customer care and retention system.

Loan Officers 359

Loan Officers Retail Tools Investors 359

Housing Wire

JANUARY 10, 2024

Software development company Blue Sage Solutions has launched a new servicing platform that merges loan origination and servicing functions using API-based technology. Additionally, the platform is accessible to all users, regardless of their current loan origination software.

Retail 385

Retail Lending Design Technology 385

Housing Wire

MARCH 14, 2023

Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. ” While at Guaranteed Rate, Patel and his team closed more than 250 loans in 2022 and increased the purchase volume by 20% from 2021.

Loan Officers 370

Loan Officers Retail Brokerage Lending 370

Housing Wire

MARCH 8, 2023

However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. In addition, loan officers said that investors took advantage of a slower market. retail residential mortgage applications. from the week prior. ” Who is jumping into the market?

Mortgage 376

Mortgage Loan Officers Investors Government 376

Housing Wire

JUNE 22, 2023

On June 1, Arizona-headquartered retail lender AmeriFirst Financial Inc. In its originations business, AmeriFirst kept its business purpose lending (BPL), providing four products, including debt-service coverage ratio (DSCR) loans, bridge financing, investor construction loans and residential transition loans (RTLs).

Loan Officers 348

Loan Officers Mortgage Real Estate Agent Business 348

Housing Wire

OCTOBER 10, 2022

Atlanta-based Angel Oak Companies instituted a round of layoffs at its retail mortgage company on Friday, not long after trimming the workforce in its wholesale and correspondent business. According to the mortgage data platform Modex , Angel Oak Home Loans originated a total volume of $2.44 was purchases. billion as of mid-September.

Retail 360

Retail Loan Officers Mortgage Government 360

Housing Wire

FEBRUARY 9, 2023

The company said it has a full-service retail origination platform that originates agency, government and investor portfolio loans. Most of the originations were conventional and purchase loans. According to Modex, the new company will also have about 35 branches and 200 active loan officers.

Mortgage 356

Mortgage Retail Loan Officers Lending 356

Housing Wire

FEBRUARY 15, 2023

You have a lot of flexibility in pricing, flexibility with other broker products, flexibility with marketing under an compliant umbrella,” Steinway said of Revolution Mortgage, which has a hybrid wholesale and retail lender model. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

Mortgage 357

Mortgage Loan Officers Lending Retail 357

Housing Wire

NOVEMBER 2, 2023

Non-QM borrowers such as those who are self-employed and real estate investors are generally less rate sensitive. In fact, a growing focus is the real estate investor population. with 85% owned by individual investors and LLCs based on 2021 U.S. The reasons for the success of non-QM lies partly in the composition of borrowers.

Investors 412

Investors Real Estate Lending Loan Officers 412

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. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgage 383

Mortgage Loan Officers Inventory Retail 383

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As

Loan Officers 458

Loan Officers Mortgage Business Retail 458

Housing Wire

OCTOBER 13, 2021

Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

Mortgage 313

Mortgage Investors Investing Technology 313

Housing Wire

NOVEMBER 23, 2021

will lay off 77 employees in its Charlotte, North Carolina office come January 2022, a Worker Adjustment and Retraining Notification Act (WARN) notice filed by the company reveals. Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators.

Mortgage 375

Mortgage Loan Officers Retail Technology 375

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. The retail lender originated $56.6 billion of unutilized loan funding capacity as of Dec. 31, 2021.

Mortgage 522

Mortgage Marketing Retail Lending 522

Housing Wire

AUGUST 25, 2023

Retail lender AmeriFirst Financial Inc. Through its origination business, AmeriFirst kept its business purpose lending (BPL), providing four products, including debt-service coverage ratio (DSCR) loans, bridge financing, investor construction loans and residential transition loans (RTLs).

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

NOVEMBER 22, 2022

Movement Mortgage’s deal to acquire top indie retail lender Mortgage Network marks a shift in the South Carolina-based company’s strategy. “Over the years, we’ve been more focused on organic growth, one loan officer at a time,” said Mike Brennan, who became Movement’s president in January 2021.

Loan Officers 384

Loan Officers Retail Business Mortgage 384

Housing Wire

MAY 11, 2021

Beyond that, it’s unclear if Better.com can thrive in a higher rate environment , when refi business falls and lenders typically rely on a human network of distributed retail loan officers or mortgage brokers to generate purchase business. Also unclear is how investors take to another mortgage company going public.

Valuation 378

Valuation Insurance Investors Loan Officers 378

Housing Wire

NOVEMBER 23, 2022

While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week. “In

Marketing 361

Marketing Loan Officers Business Mortgage 361

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. Boise-based loan officer Blake Bianchi, founder and CEO at Future Mortgage , said he noticed an increase in clients choosing 2-1 temporary rate buydown.

Mortgage 372

Mortgage Loan Officers Clients Housing Market 372

Housing Wire

NOVEMBER 9, 2022

He added that the company’s executives “expect to materially complete the wind down across both retail and wholesale mortgage channels by the end of this year.” Commercial originations for residential real estate investors decreased 21% year-over-year and 34% quarter-over-quarter to $355 million. FoA produced a $1.1

Mortgage 366

Mortgage Finance Retail Business 366

Housing Wire

SEPTEMBER 24, 2020

The New York-based mortgage lender, backed by Kleiner Perkins, Goldman Sachs and Citigroup , told investors it expects revenue to jump from $100 million in 2019 to north of $800 million this year, sources told The Information. It now has over 3,000 employees, mostly non-commissioned loan officers. billion valuation.

Valuation 349

Valuation Loan Officers Retail Mortgage 349

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. In an earnings call with investors, CEO Anthony Hsieh said loanDepot was “fishing from a lot more pond” than its biggest competitors – more diversified in its channel mix, able to generate tens of millions of top-of-funnel leads.

Mortgage 379

Mortgage Retail Finance Investors 379

Housing Wire

FEBRUARY 8, 2022

“And one of our strategic plans for our growth is we’re really bolstering up our retail division in 2022.”. We will be hiring retail guys that carry our flag through the Excelerate branches, but they’re not only in California,” Yoon added. It was kind of a no brainer, just low-hanging fruit.

Marketing 358

Marketing Retail Lending Mortgage 358

Housing Wire

AUGUST 17, 2023

According to those analysts, investors in the bond market are reacting to the government issuing debt and expecting the Federal Reserve to increase rates in September amid persistent inflation. At Mortgage News Daily on Thursday morning, the 30-year fixed rate for conventional loans was 7.34%, up 29 basis points from the previous week.

Mortgage 353

Mortgage Supply Chain Government Buyers 353

Housing Wire

OCTOBER 6, 2022

The jumbo rates are offering an excellent opportunity in terms of where they are now compared to the conventional ones, especially jumbo ARMs,” a South Carolina retail loan officer told HousingWire. Pressure on rates has sharply reduced demand for mortgage loans, according to the MBA.

Mortgage 366

Mortgage Marketing Loan Officers Retail 366

Housing Wire

OCTOBER 9, 2020

It makes for exciting – and uneasy – times for lenders, investors and policy makers, panelists said at HousingWire Annual on Thursday. “This is where the rubber hits the road between the lender, the investor and the policy maker.” “As an investor, you’re looking at all this trying to figure it out,” he said.

Marketing 370

Marketing Investors Technology Loan Officers 370

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2

Business 395

Business Loan Officers Clients Inventory 395

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. Liquidity had dried up and bond investors were running for the hills. At that point, Dodson was actively working on a jumbo loan for friends of his from church. We have the bank statement program, jumbo loans.

Business 432

Business Mortgage Investors Loan Officers 432

Housing Wire

APRIL 29, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Starter homes are virtually non-existent, and there are a lot of investors purchasing homes at the lower price points,” Davis said. Conway, Arkansas.

Housing Market 351

Housing Market Marketing Agents Real Estate 351

Simonson Real Estate

AUGUST 24, 2020

Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. . With more office workers working from home, this greatly impacts day population counts, which then directly affects retail and hotels in the core urban areas.

Lending 148

Lending Construction Tenants Real Estate 148

Housing Wire

SEPTEMBER 14, 2020

Lenders must constantly weigh the consumer’s experience against the compliance requirements handed down by regulators and investors. Our response has been to flood the transaction with paper documents, request the same information multiple times and keep the consumer guessing about where their loan is in our process.

Lending 461

Lending Mortgage Technology Business 461

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Mike, a North Carolina-based loan officer, had two loans closing in mid-January. The contrast between the deals was striking. “I have a loan closing today for first-time homebuyers who didn’t really press me on pricing,” he said.

Loan Officers 400

Loan Officers Mortgage Lending Real Estate Agent 400

Housing Wire

JANUARY 27, 2023

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 386

Lending Real Estate Agent Loan Officers Retail 386

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. First Republic’s ascendency in the jumbo market also reflects Wells Fargo’s decision to reposition itself, exiting the correspondent channel and focusing on minority homebuyers through its retail operation. The bank originated $1.9

Marketing 336

Marketing Retail Mortgage Investors 336