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Finance of America hit with layoffs; chief retail sales officer steps down

Housing Wire

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. Accordingly, we are refining our expenses and eliminating some roles in our retail and corporate divisions as our business simplifies.

Retail 372
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FOA narrows losses, touts dominance of reverse mortgage market

Housing Wire

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Marketing 327
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Tech firm Polly bulks up to help modernize mortgage industry

Housing Wire

Also participating in this latest funding round is Movement Mortgage , which describes itself as the sixth largest retail mortgage lende r in the nation, funding some $30 billion in residential mortgages annually. The post Tech firm Polly bulks up to help modernize mortgage industry appeared first on HousingWire.

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How AI and a changing rental market will shape property management in 2024

Housing Wire

Two complex factors are set to transform the rental market in 2024, creating new challenges and opportunities for property managers. The second is a more competitive rental market, driven by record-high construction of multifamily rental properties. At the same time, the data suggests several benefits for early adopters.

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HousingWire February Demo Day: Insellerate

Housing Wire

Insellerate Modern CRM, Engagement & Customer Intelligence Platform Insellerate helps loan officers close more loans with our award-winning modern CRM, Lead Management, and Engagement platform, which handles all your lending channels, retail, wholesale, TPO, Consumer Direct, and Reverse. Get More Info

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UWM sunsets FindAMortgageBroker.com, rebrands to Mortgage Matchup

Housing Wire

“The DNA and mission of this website has not changed, rather Mortgage Matchup provides a new visual identity to help us resonate with consumers in a more modern, approachable way. UWM ranked as the largest lender in America, originating $83.9 billion in the first nine months of 2023.

Mortgage 371
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Lower has a round of layoffs to “weather upcoming rate hikes”

Housing Wire

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.

Retail 362