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“Last night, my Uber driver was a loan officer.”

Housing Wire

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned.

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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.

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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.

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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

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Latest Senior Loan Officer Opinion Survey Indicates Easing Credit Standards

Eyes on Housing

The latest results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021.

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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.

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Cloudvirga’s POS platform provides loan officers with everything they need to prepare a loan in minutes

Housing Wire

Cloudvirga’s platform solves for both by creating the best experience for borrowers and loan officers. The Cloudvirga team has been able to dramatically improve the experience of the borrower and the loan officer.

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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.

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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.

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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.

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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.

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Mortgage demand picks up as seller concessions rise

Housing Wire

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. for the week ending January 6, compared to the week earlier, when the 30-year rates for conforming loans ($647,200 or less) went from 6.58% to 6.42%.

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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?

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UWM takes another big step to reduce prices

Housing Wire

The company announced on Wednesday that it is giving up to 125 basis points to brokers to use on any loans they lock with the lender, with a maximum of 40 basis points per loan. Brokers can use the points for conventional, government and non-agency loans up to $1 million. .

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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.

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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.

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After mortgage lenders shut down, what’s next for loan originators?

Housing Wire

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. In turn, thousands of loan originators could soon be looking for a new lender to hang their license.

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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.

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Top Fairway LO Dave Medina decamps for Movement Mortgage to spread his wings

Housing Wire

Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​ Fairway Independent Mortgage to join Movement Mortgage. His branch includes Medina, four loan originators and two support staffers.

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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!

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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

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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.

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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?

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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.

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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.

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How should LOs prepare for the market ahead?

Housing Wire

The 5% market’s a healthy market,” said Anna Ruotolo, branch manager and senior loan officer at Synergy One Lending. “A These hopes for a declining rate have many loan officers feeling optimistic about 2023’s business prospects after experiencing lower volumes last year.

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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!

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How Shant Banosian, America’s top LO, is on track to clear $1B in 2022

Housing Wire

Shant Banosian, EVP at Guaranteed Rate and a top producing loan officer who eclipsed $1 billion in mortgage production in each of the last two years, said he also cut his team size by half while focusing on growing market share. On top of that, we are now also offering personal loans.

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Bankers sue Rocket for allegedly failing to pay overtime wages

Housing Wire

Despite its efforts to obtain more purchase loans, Rocket lost $166 million in the third quarter of 2022 and fell from its position as the largest mortgage lender in the country. The mortgage tech platform Modex shows that the company has about 5,700 active loan officers and 1,720 branches.

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The winning mindset for LOs looking to get hired

Housing Wire

Production has dropped significantly, and many lender shops are focused on recruiting more loan officers to help make up the difference. . “As Mortgage Loan officer service journalism

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The war for top talent and why LOs move shops

Housing Wire

Given the market contraction and numerous layoffs in the industry, it may be surprising to think that loan officer recruitment and retention could be a focus for some lenders and independent mortgage banks right now. If you can, arm your loan officers with that technology,” Hills said.

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Movement Mortgage names Lyra Waggoner chief information officer

Housing Wire

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Michael Brennan, president of Movement, said Waggoner can empower loan officers with the tools they “need to win.”.

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Guaranteed Rate taps Stavvy to scale eClosings

Housing Wire

Stavvy also partnered with loss mitigation and loan modification solution provider Covius at the beginning of the year to offer RON and eSignature capabilities for all loan mitigation products, regardless of recording requirements.

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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

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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.

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Top LO Shant Banosian on how to prepare for 2023

Housing Wire

But according to Shant Banosian, Guaranteed Rate’s top-ranked loan officer, now is the time for LOs to show up and work hard. “In loan officers Mortgage service journalism

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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.

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Homestar names Gurp Bhandal EVP of national production

Housing Wire

Wendell Couch joined in 2008 and closed over $1 billion in loan production in 2021. HOMESTAR’s mortgage products include conventional, FHA, USDA, VA, jumbo, reverse, 203K, refinance and its own cash advantage, RefiNow and NATURALiving Home Mortgage loan programs.

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How LOs get into a real estate agent’s circle

Housing Wire

So, about two weeks before the closing was scheduled to take place, the builder reaches out to me and was like, ‘The loan officer on your client’s file got laid off and we are assigning a new one to it.’ Fahad Janvekar, a loan officer at Fairway Independent Mortgage. “It’s