Remove Mortgage Remove Retail Remove Technology Remove Training
article thumbnail

What mortgage lenders need to know about wholesale

Housing Wire

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.

Mortgage 366
article thumbnail

With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

Retail 370
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

As the housing market bottoms out, educating the future mortgage pro becomes paramount

Housing Wire

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

article thumbnail

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 393
article thumbnail

Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

Chicago-based Interfirst Mortgage Co. Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators. To run the hub, the company hired Casey Nunn, a former Rocket Mortgage and Homepoint executive, as the vice president of wholesale lending.

Mortgage 380
article thumbnail

Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 365
article thumbnail

Legend Lending chief innovation officer on digitization and the importance of a human element in lending

Housing Wire

Pachiano shared an update on her career, industry insights on digitization and advice for anyone entering the mortgage industry. HousingWire: When you were selected for HW Insiders in 2019 you were the National Support and Training Director at Mid America Mortgage. I would not call the mortgage profession a nine to five job.

Lending 350