Housing Wire

MARCH 16, 2022

Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage. That means that they get more product options.

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Retail Loan Officers Brokerage Technology 410

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We

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Retail Mortgage Loan Officers Marketing 369

Housing Wire

SEPTEMBER 11, 2023

To get there, Cliffco, which has been in business since 1987, is going after the non-qualified mortgage ( non-QM ) market and investing in tech to get in front of buyers and non-agent referral partners. On the non-QM side, only 3% of the market has been penetrated. But we’re heading into different segments of the ocean.

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Loan Officers Agents Retail Technology 405

Housing Wire

FEBRUARY 14, 2024

is expected to expand the retail lender’s presence in Western states and also bring in expertise with builder products, Guild CEO Terry Schmidt said in an exclusive interview with HousingWire. With the acquisition of Academy, Guild will be onboarding nearly 200 branches and 1,000 new employees, about 600 of which are loan officers.

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Retail Mortgage Loan Officers Construction 440

Housing Wire

APRIL 30, 2024

In a low-volume mortgage origination market, some sellers “don’t have the balance sheet or their owners are not interested in legacy and continuity,” which is a different model than Lower’s, Snyder said. Universal president and industry veteran TJ Kennedy leads its retail and wholesale channels.

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Retail Loan Officers Lending Mortgage 421

Housing Wire

MARCH 4, 2022

California-based nonbank lender Carrington Mortgage Services has invested in boosting the growth of its wholesale channel, with the latest announcements including a new loan processing technology and plans to increase the sales team. The technology is available only for full-doc government and non-QM loans.

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Technology Government Logistics Retail 346

Housing Wire

OCTOBER 18, 2023

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. Well, it’s certainly been a down market. I asked the good folks at mortgage data technology firm InGenius to run the numbers. How has the broker channel fared in the wake of the Fed rate hikes ?

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Retail Loan Officers Brokerage Mortgage 521

Housing Wire

AUGUST 1, 2023

The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process. Its parent Rocket Companies rode the wave to a stunning $9.4 billion in profit in 2020 and $6.1 billion in 2021.

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Loan Officers Retail Real Estate Agent Real Estate 361

Housing Wire

FEBRUARY 6, 2024

To redesign the interface, the company collected feedback from more than 250 loan officers, demonstrating the company’s commitment to enhancing user experience. Insellerate’s services work across all lending channels, including retail , wholesale , TPO , consumer direct, recruiting and reverse.

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Loan Officers Retail Lending Marketing 365

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. Profitability may resemble the market in 2018 , when around one-third of nonbank lenders failed to turn a profit.

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Mortgage Marketing Retail Lending 526

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. Desmond Smith: There are two ways to get a mortgage — wholesale or retail.

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Mortgage Retail Lending Loan Officers 357

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast markets. We look to acquire right-sized, financially solid distributed retail companies.”

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Retail Mortgage Lending Renovations 418

Housing Wire

DECEMBER 14, 2023

Texas-based lender Thrive Mortgage plans to merge with digital multichannel rival Lower , which will create a unified lender with more than 650 loan officers and 120 active branches across the country. Both companies generated most of their origination volume through the retail channel.

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Mortgage Retail Loan Officers Finance 443

Housing Wire

DECEMBER 21, 2021

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. Presented by: Black Knight.

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Loan Officers Retail Business Mortgage 468

Housing Wire

FEBRUARY 16, 2024

HousingWire Editor in Chief Sarah Wheeler sat down with New American Funding CEO and Co-founder Rick Arvielo to talk about the acquisition, the company’s strategy for the rest of 2024, and what differentiates NAF in this market. Sarah Wheeler: Market conditions have fueled a lot of M&A activity recently.

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Loan Officers Retail Clients Real Estate Agent 424

Housing Wire

OCTOBER 10, 2022

Ohio-based mortgage lender Lower imposed a round of layoffs last week due to market conditions, affecting 6% of its workforce, according to a spokesperson for the company. The Fed has increased the federal funds rate by 300 basis points so far this year to control surging inflation, resulting in a “ reset” of the mortgage market.

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Retail Loan Officers Modernization Training 403

Housing Wire

DECEMBER 27, 2023

The California-based retail lender has set a target of becoming a top-10 lender in the markets in which it has a presence, which would give it about 2% in overall market share. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023.

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Mortgage Retail Lending Sellers 420

Housing Wire

OCTOBER 24, 2023

Thanks to this latest collaboration, lenders who use Finastra’s software will benefit from a seamless, fully integrated CRM as well as a marketing automation solution. “Finastra has a long history of delivering innovative solutions to its customers,” Josh Friend, CEO of Insellerate, said in a statement.

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Loan Officers Retail Lending Marketing 432

Housing Wire

OCTOBER 31, 2022

Her role will focus on technology to drive the company’s growth. Michael Brennan, president of Movement, said Waggoner can empower loan officers with the tools they “need to win.”. “She has a proven track record of leading sales-centric technology teams and delivering with speed to market,” he added.

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Loan Officers Mortgage Technology Tools 357

Housing Wire

MARCH 30, 2023

Just having those additional layers in the retail model really creates strain there,” Kirby said in an interview. I think maybe if you look back a few years, the broker space from a technology perspective was lacking, but has really caught up to where retail was (…). What is the upside of launching a mortgage broker shop?

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Mortgage Retail Loan Officers Brokerage 390

Housing Wire

JUNE 28, 2023

After all, the average retail lender lost nearly $2,000 per loan in the first quarter, and I expect losses to be similar in Q2 and elevated in Q3. For the mortgage industry, more often it’s about making the very hard choices these days – exiting a channel, deciding which star performer to let go, etc.

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Mortgage Retail Investing Open Houses 352

Housing Wire

FEBRUARY 5, 2021

The acquisition gives Guaranteed Rate, best known for its retail prowess, another engine to boost its growth in the direct-to-consumer channel. According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. Presented by: Black Knight. It grew nearly 100% in 2020.

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Loan Officers Retail Technology Mortgage 448

Housing Wire

NOVEMBER 23, 2022

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

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Marketing Loan Officers Business Mortgage 367

Housing Wire

SEPTEMBER 23, 2022

The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market since the early 1980s. . Thrive’s chief operations officer Selene Kellam , who designed the lender’s operations workflow, will be the chief executive officer starting in 2023.

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Mortgage Retail Loan Officers Technology 370

Housing Wire

MARCH 15, 2021

HousingWire recently sat down with Insellerate CEO Josh Friend to discuss that very question and what strategies retail lenders should look to adopt from direct-to-consumer lending. HW: What are some strategies that retail lenders should look at adopting from direct-to-consumer lending?

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Lending Retail Mortgage Loan Officers 412

Housing Wire

MARCH 1, 2021

Fred Bolstad, executive vice president of retail lending at U.S. Bolstad will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Lisa Patterson, chief originations officer at Homepoint. He leads both retail sales and operations, a channel that originated over $47 billion in 2020.

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Retail Lending Loan Officers Technology 413

Housing Wire

AUGUST 17, 2023

InstaLend is a tech-enabled real estate loan lender that provides capital to residential developers through streamlined technology and automated workflow, according to its website. 5000 – is a mortgage broker and partners with other lenders to generate leads for VA, FHA, purchase, refi and personal loans.

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Loan Officers Mortgage Development Lending 366

Housing Wire

MAY 2, 2022

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 company’s job cuts include human resources, technology, talent acquisition, and executive assistant positions.

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Human Resources Loan Officers Retail Training 380

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The historically low interest rates that led to a boom in refinances in 2012 had ended, and Interfirst struggled to maintain volumes in following years as the market turned to purchase. In 2012, Dmitry Godin was seemingly on top of the world.

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Mortgage Loan Officers Retail Training 355

Housing Wire

OCTOBER 22, 2021

This week’s HW+ spotlight features Karen Mayfield, head of National Retail Sales at Wyndham Capital Mortgage. In her role, Mayfield is tasked with expanding on the company’s digital roots into the retail mortgage environment. Karen Mayfield: Loan officers. So why do I need an expensive loan officer?

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Loan Officers Retail Mortgage Tools 348

Housing Wire

NOVEMBER 13, 2023

In reality, the LOS is not the problem; the technology is doing exactly what it was designed to do. Adjust your expectations At its core, an LOS is designed to serve a very specific purpose: ensuring that lenders can originate compliant and sellable loans. The LOS is a foundational piece of technology for every lender.

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Technology Design Lending Real Estate Agent 410

Housing Wire

FEBRUARY 27, 2023

Mortgage lender CRM and marketing automation solutions provider Insellerate has launched a new third party origination (TPO) solution for wholesale lenders, the company announced on Monday during ICE Experience. The new product is fully integrated into loan origination systems, like ICE Technology’s Encompass and MeridianLink.

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Loan Officers Retail Inventory Lending 375

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 Your technology has to be fantastic every day.

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Loan Officers Mortgage Business Retail 482

Housing Wire

OCTOBER 9, 2020

Changes to capital markets have been fast and furious over the last year in housing. “Changes in culture, society, how we all work and live – it all ends up in capital markets,” said Richard Koss, chief of research at Recursion Companies. By some accounts, the growth timeline has been compressed five years.

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Marketing Investors Technology Loan Officers 370

Housing Wire

MARCH 14, 2024

Lisa Moriello, the national retail reverse mortgage sales manager at multichannel lender loanDepot , recently spoke to RMD about how business in 2024 seemed to be off to a promising start. Diving deeper into the current reverse mortgage business environment, she offered additional perspectives on multiple topics.

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Mortgage Clients Loan Officers Tools 385

Housing Wire

JULY 29, 2022

Cuts were being made in back-office staff (71%), general and administrative expenses (66%) and loan officers (19%), according to the survey. Millennials are driven to technology,” said an executive of a large institution, categorized as a lender that produced more than $2.3 billion in loan origination volume in 2021. “We

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Mortgage Loan Officers Lending Real Estate Agent 395

Housing Wire

JUNE 2, 2023

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. ” Ishbia says that the wholesale channel should reach 33% market share by 2026, compared to the current level of 22%.

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Retail Inventory Mortgage Loan Officers 360