Housing Wire

MARCH 7, 2024

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said. Its strategy has focused on acquisitions in both correspondent and retail channels.

Retail 365

Retail Lending Renovations Construction 365

Housing Wire

MAY 23, 2024

Improved financial performance for retail lenders coincides with a more stable secondary mortgage market , which has seen spreads narrow since they peaked in fall of 2023. Median productivity — measured by loans closed per retail or consumer-direct production employee — remained unchanged at 1.1 trillion in 2026.

Retail 375

Retail Mortgage Valuation Inventory 375

Housing Wire

OCTOBER 17, 2023

Mortgage tech firm Blend has launched a lower-cost version of its mortgage suite for retail independent mortgage banks, the company announced this week. Retail IMBs have helped build Blend into what it is today and we stand by the industry during this time. of Blend told HousingWire. “The

Retail 402

Retail Loan Officers Inventory Mortgage 402

Housing Wire

JANUARY 26, 2023

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I Layoffs occurred on Thursday morning with no warning, according to former employees.

Retail 446

Retail Mortgage Lending Finance 446

Housing Wire

OCTOBER 2, 2023

Equity Prime Mortgage (EPM), which shifted to the TPO business after exiting its retail channel in the fall, has embarked on a new chapter. BLVR – a marketing and promotional campaign launched by EPM on Monday – aims to reach as many retail loan officers to provide information about the wholesale channel. About 16.8%

Retail 406

Retail Loan Officers Lending Business 406

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. The pullback in retail was not as severe as the one in wholesale.

Retail 334

Retail Mortgage Business Marketing 334

Housing Wire

SEPTEMBER 7, 2023

The Atlanta-based lender has fully exited the retail channel, a change in strategy the company has been preparing for over the past few months. EPM’s CEO Eddy Perez had previously shared plans with HousingWire to double down on wholesale while scaling down its retail footprint. It’s all about the consumer. EPM originated $1.05

Retail 388

Retail Loan Officers Business Lending 388

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. This has resulted in the company closing branches and laying off loan officers on the retail side. It’s a shift that is happening in the market.

Retail 365

Retail Loan Officers Landlords Lending 365

Housing Wire

FEBRUARY 7, 2023

This acquisition is part of the company’s continued plan to grow both in existing markets and by entering new ones with selective acquisitions of like-minded lenders,” Guild CEO Mary Ann McGarry said in a statement. The company has 39 active loan officers across its retail branches, according to Modex data.

Retail 383

Retail Mortgage Loan Officers Technology 383

Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. Voyles will be responsible for growing the retail division overseeing sales, operations and marketing as well as building on the existing framework, the company said Wednesday.

Retail 354

Retail Mortgage Loan Officers Lending 354

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 427

Retail Finance Home Improvement Business 427

Housing Wire

NOVEMBER 10, 2022

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . We want to grow,” Casey Crawford , a former pro football player who founded distributed retail nonbank Movement in 2008, said in a statement to HousingWire.

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

JANUARY 31, 2023

(NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We While legacy Flagstar was proactive in rightsizing its mortgage business throughout the past year, we expect the mortgage market to remain challenged,” Cangem said. The companies made the $2.6

Retail 337

Retail Mortgage Lending Business 337

Housing Wire

MAY 23, 2023

announced on Tuesday the completion of an agreement for WFG to acquire certain branches of Doma’s West Coast local retail title operations. The deal includes multiple retail title locations and operations centers in the Northern and Central California regions. Williston Financial Group (WFG) and Doma Holdings, Inc.

Retail 347

Retail Insurance Real Estate Technology 347

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. It is company policy not to comment on rumors or speculation in the market,” a spokesperson for FoA said.

Retail 353

Retail Finance Home Improvement Mortgage 353

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% The increased awareness around these benefits have positioned brokers to be the obvious choice when it comes to consumer mortgage needs, keeping them competitive with large banks and retail lenders.

Retail 398

Retail Marketing Loan Officers Government 398

Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The transaction includes an acquisition of Angel Oak Home Loans’ brick-and-mortar retail offices and associated salesforce.”. Details of the deal were not disclosed. .

Retail 301

Retail Loan Officers Investors Lending 301

Housing Wire

AUGUST 16, 2023

A week after announcing a pivot in its business strategy , publicly traded title insurance firm Doma announced the sale of its retail operations in Florida on Tuesday. Doma’s Florida operation was purchased by Near North Title Group for an undisclosed sum. Near North Title Group purchased Doma’s Midwest locations in July.

Retail 294

Retail Insurance Technology Business 294

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders. We’re not out building a retail person’s name.

Retail 367

Retail Mortgage Loan Officers Marketing 367

Appraisal Buzz

MAY 18, 2021

Stephen Adamo has joined Embrace Home Loans as president, national retail production. In that role, he had direct oversight of all aspects of residential home lending, including production, portfolio administration, secondary marketing, servicing and loan operations.

Retail 370

Retail Lending Appraisal Mortgage 370

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. With its technology platform in development, Shekhar said the company is looking to beef up its product mix and grow presence in its multiple markets.

Retail 365

Retail Loan Officers Brokerage Technology 365

Housing Wire

MARCH 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. billion in purchase originations in 2023, up 4% from 2022 and good for a market share of nearly 8%.

Mortgage 439

Mortgage Marketing Retail Lending 439

Housing Wire

MAY 23, 2023

While it’s not as clear how long-lasting the rebound will be, it does still provide some much-needed good news for the spring and summer housing market. Data from NAR also shows a home price correction in nearly one-third of the 221 markets it tracks in the first quarter of 2023. million in February and was at 4.3 million in April.

Housing Market 414

Housing Market Marketing Retail Sellers 414

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. It’s very, very market dependent right now. I’m still focusing on those markets with very low (retail) inventory.

Marketing 412

Marketing Investors Real Estate Investing 412

Housing Wire

MAY 7, 2024

Carrington Mortgage Services (CMS) hired Steven Winokur to serve as vice president of marketing for third-party originations (TPO), the company announced Tuesday. Department of Agriculture ( USDA ) programs. Taffet is continuing to serve as Carrington’s chief investment officer while succeeding company founder Bruce Rose as CEO.

Marketing 284

Marketing Retail Lending Investing 284

Housing Wire

FEBRUARY 12, 2024

New Jersey-based mortgage lender The Money Store named industry veteran Coleen Bogle as chief marketing officer, the company announced on Monday. The hiring follows changes in marketing leadership at other mortgage companies, including Guild Mortgage and Rocket Companies.

Marketing 360

Marketing Loan Officers Advertising Retail 360

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. Licensed in 23 states across the country, PrimeLending has 150 branches including satellite and primary retail locations. “We billion, a 54% decline from $3.76

Loan Officers 342

Loan Officers Marketing Retail Renovations 342

Housing Wire

MARCH 6, 2024

Guaranteed Rate hired Bijoy John, former head of marketing at Newrez , as its vice president of marketing. John’s new tasks will include consumer direct marketing and the crafting of strategies for new products. What led me to Guaranteed Rate’s marketing team was Victor Ciardelli’s vision for the company.

Marketing 372

Marketing Loan Officers Retail Lending 372

Housing Wire

FEBRUARY 23, 2024

housing market. And according to Freddie Mac ‘s Primary Mortgage Market Survey, the average rate inched closer to 7% this week. Fannie Mae, however, remains optimistic that housing market activity will pick up as existing home sales and new single-family housing starts are expected to grow modestly in 2024. “An

Housing Market 457

Housing Market Marketing Retail Mortgage 457

Housing Wire

DECEMBER 5, 2023

Industry veteran Adam O’Daniel is transitioning to Guild Mortgage as senior vice president and chief marketing officer, a newly created role, after about two years at Open Mortgage , the company announced on Tuesday. Before joining Guild, he was Open Mortgage’s senior vice president of marketing, responsible for branding and communications.

Marketing 355

Marketing Retail Tools Mortgage 355

Housing Wire

MARCH 7, 2024

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. Performance of long-term assets has been positive, Engel said.

Marketing 339

Marketing Mortgage Modernization Retail 339

Housing Wire

APRIL 9, 2023

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. This week’s trading in the bond market will be exciting with the upcoming inflation data.

Housing Market 539

Housing Market Marketing Mortgage Inventory 539

Housing Wire

JULY 21, 2022

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The as-is market value is typically based on a drive-by broker price opinion or external-only appraisal given the properties are usually still occupied.

Housing Market 392

Housing Market Buyers Marketing Retail 392

Housing Wire

MARCH 12, 2024

San Diego-based lender Guild Mortgage lost money in 2023 but grew its market share through a focus on purchase mortgage originations, it reported in an earnings call on Tuesday. Similar to other major lenders, the purchase-focused Guild — which operates via a distributed retail model — reported a net loss of $39.1 million in 2022.

Marketing 376

Marketing Retail Mortgage Investing 376

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. The acquisition of Academy’s retail assets is scheduled to close by the end of February. Guild Mortgage ’s acquisition of Academy Mortgage Corp.

Retail 403

Retail Mortgage Loan Officers Construction 403

Housing Wire

MAY 6, 2024

CCBank and Security Home Mortgage are well-established Utah companies, and this partnership enables us to strengthen our market position to continue delivering industry-leading financial products,” Matt Field, CC Bank’s president and chief financial officer, said in a prepared statement.

Mortgage 368

Mortgage Retail Loan Officers Construction 368

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. Economic conditions, however, are opening up space for new entrants eyeing market share. Their retreat opens up opportunities for rival firms to grab market share. Part I explains the jumbo market’s decline.) Part I explains the jumbo market’s decline.)

Marketing 315

Marketing Retail Mortgage Investors 315