Knock reverses course on loan officer pay cut

Housing Wire

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources.

Loan officers made insane money in Q4 2020

Housing Wire

Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years.

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5 “back to basics” business actions loan officers should take today

Housing Wire

It’s a tough time to be a loan officer. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. Some have taken to TikTok to make funny videos about why they are the best loan officer in the land.

3 Can’t-miss HW Annual panels for new mortgage loan officers

Housing Wire

Did you just begin your career as a mortgage loan officer and need the answers to questions you didn’t even know you had? A part of the Women of Influence Forum, this workshop is perfect for new loan officers, especially women new to the industry, to gain confidence in their position.

Loan officer wallets flatten as refis dry up

Housing Wire

To the surprise of virtually no one, loan officer commissions started to head south in the third quarter, dropping 17% year-over-year, according to SimpleNexus ’ third quarter mortgage loan compensation report. loans per month in Q3 2021, versus an average of 9.0

Opinion: Do loan officers need more tech than they have now?

Housing Wire

Do loan officers need more technology than they currently have? Most loan officers do not believe they need more tech than they have now. Function keys in a DOS-based green world was how all loans were done in 2010. Being a loan office hasn’t changed.

The Loan Officer’s Guide to Appraisals Part 11:  ANSI Measurement Guidelines

Riverfront Appraisals

Welcome to the November edition of our blog series, The Loan Officer’s Guide to Appraisals. If you’ve been following our blog, you know that all year, I’ve been writing with the purpose of assisting loan officers to better understand the appraisal process.

Porch Group Acquires Floify, a Leading SaaS Provider for Loan Officers

Appraisal Buzz

a vertical software and InsurTech company, has acquired Floify , a provider of digital mortgage automation and point-of-sale software for mortgage companies and loan officers. Based in Colorado, Floify helps mortgage companies and loan officers create a better mortgage and.

Embrace Home Loans Taps Mehdi Pirzadeh as Senior Loan Officer, VP

Appraisal Buzz

Mehdi Pirzadeh has re-joined Embrace Home Loans as senior loan officer and vice president in the company’s Rockville, Md. office. Pirzadeh is a top-producing loan originator who previously worked for Embrace and recently returned, drawn back by the company’s commitment to customer service and giving back to the community. The post Embrace Home Loans Taps Mehdi Pirzadeh as Senior Loan Officer, VP appeared first on Appraisal Buzz.

Juan Farias: How Technology is Helping Loan Officers Enhance Client Relationships

Appraisal Buzz

The post Juan Farias: How Technology is Helping Loan Officers Enhance Client Relationships appeared first on Appraisal Buzz. PERSON OF THE WEEK: How is technology helping LOs enhance client and partner relationships in the post-COVID landscape?

The Loan Officer’s Guide to Appraisals Part 9: New Construction

Riverfront Appraisals

Welcome to the September edition of our blog series, The Loan Officer’s Guide to Appraisals. This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process.

Anxiety grips LOs as layoffs sweep the industry

Housing Wire

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.

The Loan Officer’s Guide to Appraisals Part 8:  Appraiser Bias – Not Just About Color

Riverfront Appraisals

This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process. The post The Loan Officer’s Guide to Appraisals Part 8: Appraiser Bias – Not Just About Color appeared first on Riverfront Appraisals.

How a noncompete ban would impact the mortgage industry

Housing Wire

Should the Biden administration make good on its threat, some loan officers, account executives and marketing personnel bound by such agreements would be able to switch jobs without fear of potential litigation from their employer. HousingWire Magazine delivered to your home or office.

As the market shifts to purchase, LOs get creative

Housing Wire

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.

How LOs can capitalize on social media channels while remaining compliant

Housing Wire

Exponentially increase your loan officers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loan officers dearly.

The Loan Officer’s Guide to Appraisals, Part 1:  The Final Inspection

Riverfront Appraisals

Welcome to the very first post in our all-new series The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals, Part 1: The Final Inspection appeared first on Riverfront Appraisals. Hey friends!

Why 28% of mortgage applicants never close the loan

Housing Wire

I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado. Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4

The Loan Officer’s Guide to Appraisals Part 10:  How Extraordinary Assumptions Are Used

Riverfront Appraisals

Welcome to the October edition of our blog series, The Loan Officer’s Guide to Appraisals. If you’ve been following along with us, you know this is part 10 in our year-long series on appraisals and the loan officer.

The Loan Officer’s Guide to Appraisals Part 6:  How are FHA Appraisals Different From Others?

Riverfront Appraisals

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 6: How are FHA Appraisals Different From Others?

The Loan Officer’s Guide to Appraisals Part 12:  Frequently Asked Questions

Riverfront Appraisals

We made it to the end of a year-long series called the Loan Officer’s Guide to Appraisals! The post The Loan Officer’s Guide to Appraisals Part 12: Frequently Asked Questions appeared first on Riverfront Appraisals. Well, we did it!

12 Things Every Loan Officer Needs from Their Lender

On Q Financial

High-performing loan officers (LOs) have been here before and have learned the lessons required for longevity. A suitable lender knows how to craft an attractive offer to a good loan officer. Are Loan Products Competitively Priced? Uncategorized Loan Officer

LoanSnap unveils new cloud-based portal

Housing Wire

LoanSnap has unveiled a cloud-based portal called LoanFLow that will allow licensed brokers and loan officers in the U.S. The company says its new LoanFlow portal will allow originators to close loans in as little as 24 hours and in 15 days on average, the company said.

Even in a down market, lenders lean on LO signing bonuses

Housing Wire

Gone are the days that loan originators received hefty signing bonuses to crank out refi after refi. Lenders have better data and tools to understand the viability of prospective loan officers, Cameron said.

The Loan Officer’s Guide to Appraisals Part 4:  Tips for a Successful Reconsideration of Value

Riverfront Appraisals

This blog is part four of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 4: Tips for a Successful Reconsideration of Value appeared first on Riverfront Appraisals.

Loan Officer’s Guide to Appraisals Part 3: Communication With The Appraiser

Riverfront Appraisals

This post is part three of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. The post Loan Officer’s Guide to Appraisals Part 3: Communication With The Appraiser appeared first on Riverfront Appraisals.

The Loan Officer’s Guide to Appraisals Part 2:  Lending on Unique Homes

Riverfront Appraisals

This post is part two of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 2: Lending on Unique Homes appeared first on Riverfront Appraisals. Welcome back, friends!

Redfin acquires Bay Equity, pink slips 121 staff

Housing Wire

The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. Origination Acquisition mortgage loan officers Redfin

The Loan Officer’s Guide to Appraisals Part 7:  How Can the Appraisal Process be Sped Up?

Riverfront Appraisals

For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. The post The Loan Officer’s Guide to Appraisals Part 7: How Can the Appraisal Process be Sped Up?

Interfirst to lay off 140 employees

Housing Wire

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.

In wake of scandal, LOs say continuing education programs get failing grade?

Housing Wire

If you’re a mortgage loan officer with a decade of experience in the industry, you have likely spent over 80 hours taking continuing education courses. Tricky situations can arise in mortgage lending, especially when navigating less-common products or originating non-agency loans.

The LO edge in 2022? Realtors, Realtors, Realtors

Housing Wire

According to three loan originators speaking at a policy summit hosted by the National Association of Hispanic Real Estate Professionals in Washington D.C. “I’m really good at conventional loans, I’m just OK with jumbo products.

Banks Report Unchanged Home Lending Standards

Eyes on Housing

In the second quarter iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, banks reported largely unchanged lending standards across all residential real estate (RRE) loans.

The Loan Officer’s Guide to Appraisals Part 5:  What is bracketing and why do we do it?

Riverfront Appraisals

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it?

Union Home Mortgage the latest to trim workforce

Housing Wire

The residential housing market has turned quickly due to historically low inventory of homes for sale and a rapid rise in interest rates due to inflation,” Cindy Flynn, chief marketing and communications officer, said in a statement. “We,

DataTrace launches market insight platform for title companies

Housing Wire

Other reports offered include trend, loan officer, and title/lender intersection reports that DataTrace said can be used to identify and compare relationships between title companies and lenders.

Banks Report Weaker Demand for Home Loans

Eyes on Housing

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans.

Who’s the customer in UWM’s wholesaler war?

Housing Wire

I’ve spent years asking top mortgage lending execs this question: who’s your primary customer, loan officers or consumers? market share of loans originated by brokers, per IMF), gave America’s brokers an ultimatum to dump two other wholesalers (with 17.8%

UWM sues broker shop for sending loans to Rocket, Fairway

Housing Wire

” In March 2021, UWM CEO Mat Ishbia announced on Facebook Live that mortgage brokers who did business with Rocket Mortgage or Fairway Independent Mortgage could not also send loans to UWM as of March 15. “This company had hundreds of loans.

HW+ Member Spotlight: Mark Jones

Housing Wire

As such, we were one of the few lenders in the country that refused to offer subprime loans. At the time, that decision cost us loan officers left and right as they departed for firms that would let them originate anything they wanted.