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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. It began 2021 in 14 markets and is now in 70. Knock does not do refinancings.).

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LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

Other challenges selected by mortgage professionals were relationships with real estate agents at 8.4%; competitiveness of rate sheet and underwriting problems at 5.8%; lender stability at 3.9%; competitiveness of product offerings at 1.9%. Of the 155 completed surveys, 32.3% of the respondents were from the Southwest, 21.3%

Mortgage 337
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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems. last year.

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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. I have my own booth at the festival,” said Naumovych. It has been very, very slow,” said Davis. “I

Marketing 392
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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. And Rocket is well aware.

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Lenders, tech firms hire executives to navigate down market

Housing Wire

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.

Marketing 389
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AmeriFirst Financial gets back into forward mortgage origination

Housing Wire

AmeriFirst will keep physical branches in 20 states, but under a new corporate model, no branch managers will make an override on the production of the loan officers they manage. “In today’s market, as soon as you pull credit, there are 30 companies buying trigger leads that are calling and undercutting you (…).