Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

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Loan Officers Technology Lending Tools 386

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. HW: How has wholesale changed over the past 2–3 years?

Mortgage 360

Mortgage Retail Lending Loan Officers 360

Housing Wire

JUNE 22, 2023

relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Of the 400 employees scooped up by American Pacific Mortgage (APM) late last year, about 20 LOs have returned to AmeriFirst Financial. In 2022, AmeriFirst closed $2.5

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Loan Officers Mortgage Real Estate Agent Business 346

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

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Mortgage Training Loan Officers Lending 385

Appraisal Buzz

JUNE 7, 2021

Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Our free webinar, “ Components of AMC Training ” will be held on June 10th at 2 pm with Josh Walitt as the host. Buzz : Why do AMCs need the training?

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Training Reconsideration of Value Valuation Clients 366

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. It’s a different approach to lending.

Mortgage 355

Mortgage Loan Officers Lending Retail 355

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. It’s amazing how many loan officers miss this, don’t return the call quickly, and lose their race before it’s even underway. Most experts believe that it’s only a matter of time before mortgage rates come down.

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Mortgage Technology Tools Business 436

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4%

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Mortgage Marketing Loan Officers Real Estate Agent 334

Housing Wire

MAY 25, 2022

Keller Mortgage , part of the kwx holding company, laid off operations positions in a conference call on Monday May 23, according to more than a dozen employees. Each pod has about 15 employees consisting of loan officers, processors, closers, underwriters, supervisors, and funders, according to multiple employees. .

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Mortgage Loan Officers Retail Training 396

Housing Wire

SEPTEMBER 27, 2023

community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. The DOJ alleges that the bank also failed to train and incentivize its staff to market and advertise its mortgage services to compensate for its lack of presence in these areas.

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Advertising Loan Officers Lending Training 404

Housing Wire

JUNE 6, 2022

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. Nonbank lenders such as Pennymac , Mr. Cooper , loanDepot , Guaranteed Rate , Fairway Independent Mortgage , Interfirst Mortgage Co.,

Mortgage 420

Mortgage Loan Officers Lending Human Resources 420

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgage 367

Mortgage Loan Officers Lending Business 367

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 371

Contracts Loan Officers Legal Best Value 371

Housing Wire

NOVEMBER 23, 2021

Chicago-based Interfirst Mortgage Co. 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. In returning from its three-year hiatus, Interfirst said it had reinvented itself as a tech-forward mortgage lender.

Mortgage 374

Mortgage Loan Officers Retail Technology 374

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

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Retail Mortgage Loan Officers Marketing 369

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 358

Mortgage Loan Officers Retail Training 358

Housing Wire

SEPTEMBER 29, 2020

As the Fed pulls out all the stops to stimulate economic activity, mortgage rates have reached record lows. This sounds like great news for lenders, for whom millions of newly refi-eligible mortgages means a lot of new business coming in. Right now, while things are good, invest in cross-training your staff.

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Lending Loan Officers Business Investors 420

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 396

Mortgage Loan Officers Finance Investors 396

Housing Wire

OCTOBER 22, 2020

Frankly, what will be left in the refi market will likely be harder credit quality transactions that a hungry mortgage origination industry will turn to as volumes drop. Here are some expectations and recommendations: First , the refi/purchase mix should be carefully evaluated down to the loan officer level. Conclusions ?

Mortgage 410

Mortgage Training Contracts Loan Officers 410

Housing Wire

AUGUST 31, 2020

Indecomm approaches automation by looking at practical applications for the technology across the entire mortgage lifecycle, using a framework called the automation continuum for mortgages. State of Mortgage Automation. Indecomm’s Automation Continuum. That is where supervised automation comes in.”.

Lending 410

Lending Technology Tools Training 410

Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officers 363

Loan Officers Retail Real Estate Agent Real Estate 363

Housing Wire

MAY 2, 2022

Six months ago Interfirst Mortgage Co. issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. The workforce reduction is also focused on mortgage loan production. Presented by: Acra Lending.

Human Resources 370

Human Resources Loan Officers Retail Training 370

Housing Wire

JUNE 10, 2022

Lenders and mortgage tech companies have been cutting costs in the down market , but some firms have hired new executives who they hope will provide better strategies to navigate the shrinking loan origination market. For wemlo, his primary focus is to enhance the existing loan processing platform to improve user experience.

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Marketing Real Estate Agent Lending Real Estate 390

Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Riches in the niches. trillion in 2022.

Lending 348

Lending Loan Officers Real Estate Mortgage 348

Housing Wire

JANUARY 24, 2023

United Wholesale Mortgage ‘s (UWM) aggressive moves to gain an edge on the competition tend to provoke controversy. LO compensation Regulation Z under the Truth in Lending Act protects Americans when they use consumer credit. Ultimately, they would be denied access to mortgages. It quickly prompted antitrust lawsuits.

Lending 356

Lending Law Legal Training 356

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years.

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Investors Real Estate Lending Loan Officers 410

Housing Wire

SEPTEMBER 2, 2020

Cooper , a nonbank mortgage lender and servicer, announced on Wednesday the company plans to hire an additional 2,000 mortgage professionals and support staff by the end of 2020. The company is hiring for positions with multiple experience levels including loan officers, mortgage underwriters and loan processors.

Training 375

Training Loan Officers Development Mortgage 375

Housing Wire

OCTOBER 28, 2022

Mortgage lender Homestar Financial Corporation on Friday announced appointing Gurp Bhandal as executive vice president of national production. Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager roles at Citi.

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Retail Training Lending Mortgage 361

Housing Wire

JUNE 30, 2021

The wholesale channel will continue to grow as more retail originators and borrowers learn the benefits of working with a mortgage broker. United Wholesale Mortgage (UWM) is solely focused on growing the wholesale channel and helping independent brokers thrive. “At 1 wholesale mortgage lender in the nation for six years running.

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Tools Training Technology Clients 306

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. According to the Mortgage Bankers Association ’s yearly forecast, purchase mortgage originations are expected to grow by 9% to $1.73

Marketing 395

Marketing Real Estate Agent Loan Officers Advertising 395

Housing Wire

MARCH 4, 2021

2021 is already shaping up to be a vastly different year than 2020 for the mortgage and real estate industry, and it’s not only because we’re entering a purchase market. This won’t only be true for the origination side of the mortgage transaction. There are few more serious sins in the lending industry than earning a repurchase demand.

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Lending Law Loan Officers Clients 419

Housing Wire

MARCH 15, 2021

Before Thursday, March 4, John was an unabashed fan of United Wholesale Mortgage. His West Coast brokerage shop sent tens of millions of dollars in loans to the wholesale mortgage giant in recent years. Rocket is training real estate agents to originate loans, and Fairway is trying to poach loan officers, he claims.

Real Estate Agent 389

Real Estate Agent Loan Officers Retail Training 389

Housing Wire

SEPTEMBER 22, 2020

It’s really easy to get caught up in the moment in the mortgage industry. It’s no secret that much of our space is busy trying to push mortgage loans through the pipeline without losing them as their sales funnels overflow. So who could possibly be thinking about compliance right now, except maybe, compliance officers?

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Training Lending Loan Officers Technology 355

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. There is also the matter of efficiency versus increased lending cost. Bracing for the challenges of non-QM.

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Lending Investing Loan Officers Design 381

Housing Wire

MAY 6, 2022

In an effort to counter margin compression and satisfy a new generation of homebuyers, lenders are looking to offer loan options that better fit the average borrower. HousingWire recently spoke with John Keratsis, President and CEO of Deephaven Mortgage, about the potential benefits of non-QM lending in today’s tight housing market.

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Marketing Lending Loan Officers Training 344

Housing Wire

APRIL 19, 2022

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Federal regulations mandate that nonbank LOs take training prior to being certified.

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Training Loan Officers Lending Mortgage 363

Housing Wire

FEBRUARY 8, 2022

Newport Beach, California-based Excelerate Capital , a long-time non-QM lender with a growing market presence, finalized its acquisition of Castle Mortgage Corp. in early 2021 as part of a larger plan to expand its origination reach beyond California — with the goal of creating a national lending footprint. .

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