Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , But it continued to serve retail clients throughout the western U.S. Last month, CMG Financial acquired Norcom Mortgage ‘s retail assets.

Retail 418

Retail Loan Officers Mortgage Lending 418

Housing Wire

OCTOBER 25, 2023

to suspend retail operations. The Gainesville, Georgia-based lender announced plans to cease retail operations while accepting mortgage locks through Oct. The decision to shut down retail operations comes on the heels of additional mortgage volatility driven by the macro economy, Homestar said in a statement.

Retail 408

Retail Mortgage Government Marketing 408

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Hummel, who previously led the correspondent and Housing Finance Agency (HFA) business at U.S. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release.

Retail 400

Retail Lending Loan Officers Finance 400

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 The company offered severance payments based on tenure and job position.

Retail 450

Retail Mortgage Lending Finance 450

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.

Retail 439

Retail Loan Officers Inventory Mortgage 439

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. and retail consisted of 56.5%

Retail 410

Retail Loan Officers Lending Business 410

Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. The retail channel volume decrease of 15.7% effectively “masked” a gain of 3.9%

Retail 385

Retail Mortgage Business Loan Officers 385

Housing Wire

JUNE 5, 2024

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 446

Retail Finance Business Modernization 446

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 422

Retail Lending Renovations Construction 422

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 397

Retail Loan Officers Business Lending 397

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 383

Retail Mortgage Loan Officers Lending 383

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

Retail 417

Retail Mortgage Real Estate Agent Business 417

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. “We still have retail, but we do believe that wholesale has the longest runway of growth and opportunity for us.” “Wholesale is growing. It’s a shift that is happening in the market.

Retail 370

Retail Loan Officers Landlords Lending 370

Housing Wire

FEBRUARY 7, 2023

The company has 39 active loan officers across its retail branches, according to Modex data. The distributed retailer’s volume slipped to $2.7 As the origination market has rapidly shifted to purchase and profitability has fallen sharply, we think more lenders could look to acquire mid-sized distributed retail business.

Retail 384

Retail Mortgage Loan Officers Technology 384

Housing Wire

MARCH 6, 2023

Guaranty Home Mortgage Corporation (GHMC) on Monday announced its expansion with three new licensed retail branches in Tennessee. In January, GHMC hired Andy Voyles as its executive vice president and director of retail lending. The new branches are located in Brentwood, Lebanon and Chattanooga.

Retail 397

Retail Mortgage Lending Technology 397

Inman

OCTOBER 11, 2024

Industry analyst Mike DelPrete writes that manipulating the display of data has the potential to mislead individual retail investors, eroding long-term trust.

Retail 166

Retail Investors Investing 166

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 401

Retail Mortgage Business Marketing 401

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

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 432

Retail Finance Business Home Improvement 432

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 The retail channel was responsible for $6 billion from January to September 2022, a 54% decline year over year, per IMF data. The companies made the $2.6 Before the acquisition, Flagstar was No.

Retail 390

Retail Mortgage Lending Business 390

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. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 394

Retail Finance Home Improvement Mortgage 394

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 306

Retail Loan Officers Investors Lending 306

Housing Wire

JUNE 15, 2021

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Sprout hired former Wells Fargo executive Michael Johnson to expand Sprout’s consumer and retail sales channel, the company said Tuesday.

Retail 382

Retail Mortgage Legal Lending 382

Housing Wire

APRIL 25, 2022

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. “We’re excited to have him on board and look for positive developments with Jim at the helm of Flagstar’s distributed retail operation.”

Retail 366

Retail Lending Mortgage Real Estate 366

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 369

Retail Insurance Real Estate Technology 369

Housing Wire

MARCH 3, 2022

Meanwhile, Steve Runnels will hold the role of vice president of retail sales, east division. In his new role, Wright will be responsible for amplifying the growth of the company’s retail division. Meanwhile, lenders’ margins are under pressure, mainly in the retail channel. UHM’s origination volume increased 25.8%

Retail 356

Retail Mortgage Development Business 356

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 loans per employee in the first quarter.

Retail 441

Retail Mortgage Valuation Inventory 441

Appraisal Buzz

MAY 14, 2021

Weaker Retail Sales Casts Vote For Range-Holding Wednesday’s CPI data was akin to some passionate political orator making a case for the country to go to war against low rates. The post Bonds Hold Their Ground After Weaker Retail Sales Data appeared first on Appraisal Buzz.

Retail 347

Retail Appraisal 347

Housing Wire

AUGUST 17, 2021

He also provided details on “pricing adjustments” from Fannie Mae and Freddie Mac that have dinged some nonbank lenders of late, when top-performing retail LOs will make the switch to the broker channel, and why its competitors will suffer greatly once rates climb. This content is exclusively for HW+ members. Already a member?

Retail 370

Retail Mortgage Lending 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. InstaMortgage currently offers conventional, FHA and VA products in-house through its retail LOs and only brokers out a small portion of loans: jumbos and non-QM.

Retail 422

Retail Loan Officers Brokerage Technology 422

Appraisal Buzz

JUNE 10, 2021

After experiencing strength in distributed retail originations, national lender adds 20-plus-year veteran to its team to lead its Distributed Retail Sales Division. The post Planet Home Lending Adds Caleb Mittelstet to Grow Retail Channels appeared first on theMReport.com.

Retail 284

Retail Lending Appraisal 284

Appraisal Buzz

MAY 18, 2021

Stephen Adamo has joined Embrace Home Loans as president, national retail production. The post Embrace Home Loans Hires Stephen Adamo as President of National Retail Production appeared first on Appraisal Buzz. Prior to joining Embrace, Adamo served as executive vice president, head of U.S.

Retail 370

Retail Lending Appraisal Mortgage 370

Appraisal Buzz

JUNE 15, 2021

Non-QM lender expands its consumer and retail channels with the addition of 20-plus year former Wells Fargo executive. The post Sprout Adds Michael Johnston to Grow Its Retail Presence appeared first on theMReport.com. The post Sprout Adds Michael Johnston to Grow Its Retail Presence appeared first on Appraisal Buzz.

Retail 195

Retail Appraisal 195

Appraisal Buzz

AUGUST 16, 2021

The post Josh Lehr: Retail Lending vs. Direct: Leveraging Multiple Channels to Create Customers for Life appeared first on Appraisal Buzz.

Retail 370

Retail Lending Technology Mortgage 370

Housing Wire

AUGUST 7, 2020

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. I mean we’re talking up to 30 years,” Nichols said.

Retail 370

Retail Mortgage Loan Officers Marketing 370

Inman

OCTOBER 16, 2023

is the latest iteration of the retail real estate investment solution designed to diversify and simplify buying into property debt. Groundfloor 3.0

Retail 166

Retail Investing Design Real Estate 166

Appraisal Buzz

NOVEMBER 29, 2021

New head of the company’s Retail Division brings two decades worth of experience to the role. The post AmeriSave Names Leif Boyd Chief Production Officer of Retail appeared first on theMReport.com. The post AmeriSave Names Leif Boyd Chief Production Officer of Retail appeared first on Appraisal Buzz.

Retail 150

Retail Appraisal 150