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Flagstar Bank makes big cuts to retail mortgage operation

Housing Wire

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

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NYCB confirms cuts to retail mortgage channel after acquiring Flagstar

Housing Wire

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.

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Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. Founded in 1986 as Guaranty Trust , the firm started out as a local retail lender and entered the third-party origination (TPO) space in 2000.

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Movement Mortgage to acquire top indie retail firm Mortgage Network

Housing Wire

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . Movement Mortgage nonbank retail lender

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Angel Oak Home Loans announces exit from retail channel

Housing Wire

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. Angel Oak is exiting its retail distribution channel and divesting its retail distribution capabilities housed in Angel Oak Home Loans, entering into a transaction with a leading mortgage lender and servicer,” a statement from Angel Oak said. “The Mortgage Angel Oak Home Loans retail lending wholesale lending

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FoA plans to sell retail division to Guaranteed Rate, close wholesale channel: sources

Housing Wire

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. . retail mortgage lenders in the period.

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Jim Linnane tapped to lead retail mortgage lending at Flagstar

Housing Wire

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. The post Jim Linnane tapped to lead retail mortgage lending at Flagstar appeared first on HousingWire.

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Sprout Mortgage taps Wells Fargo veteran to lead retail

Housing Wire

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.

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Union Home Mortgage promotes three to retail leadership positions

Housing Wire

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.

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How InstaMortgage convinced top broker shop to jump to retail

Housing Wire

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. The post How InstaMortgage convinced top broker shop to jump to retail appeared first on HousingWire.

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Planet Home Lending Adds Caleb Mittelstet to Grow Retail Channels

Appraisal Buzz

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.

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Bonds Hold Their Ground After Weaker Retail Sales Data

Appraisal Buzz

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.

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UWM’s margin confidence & the coming wave of retail LOs

Housing Wire

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.

Retail 311
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Flagstar Names Jim Linnane President of Distributed Retail Mortgage

Appraisal Buzz

Flagstar Bank has named Jim Linnane President of Flagstar’s Distributed Retail Mortgage division. In this role, he will be responsible for strategy, profitability, sales, growth, recruitment, and operations of Flagstar’s distributed retail mortgage business.

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Private Investors Seeking Retail Real Estate

McKissock

For instance, in 2021 small and private investment firms were responsible for nearly 3/4 of retail asset acquisitions , representing a 30% increase from the prior 10-year historical average. . The post Private Investors Seeking Retail Real Estate appeared first on McKissock Learning.

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Prevent Burnout for Your Retail Team

GoForrmz

You’ve probably seen it happen before, by the time the holiday season arrives, retail employees are already feeling burned out, stresses are high, and some team members aren’t even able to fully enjoy their holiday season. It takes more than a pizza party to prevent employee burnout.

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Sprout Adds Michael Johnston to Grow Its Retail Presence

Appraisal Buzz

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.

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RoundPoint revs up retail operations with new leadership

Housing Wire

RoundPoint Mortgage has added three new senior executives to its management team, as it prepares to ramp up its retail operations. RoundPoint also hired a veteran of the retail mortgage sector, Scott Bristol, who previously oversaw national mortgage production at Flagstar Bank.

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3 Digital Form Automations for Retail Teams

GoForrmz

Elevate your retail collaboration and productivity with these powerful data collection automations Retail teams are faced with the challenge of providing an excellent customer experience all while maintaining low operating costs.

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Embrace Home Loans Hires Stephen Adamo as President of National Retail Production

Appraisal Buzz

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.

Retail 311
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Josh Lehr: Retail Lending vs. Direct: Leveraging Multiple Channels to Create Customers for Life

Appraisal Buzz

The post Josh Lehr: Retail Lending vs. Direct: Leveraging Multiple Channels to Create Customers for Life appeared first on Appraisal Buzz. PERSON OF THE WEEK: Mortgage lenders have made great strides in delivering a seamless all-digital mortgage experience.

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AmeriSave Names Leif Boyd Chief Production Officer of Retail

Appraisal Buzz

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. Around The Web

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Top Fairway LO Dave Medina decamps for Movement Mortgage to spread his wings

Housing Wire

The company has used the cash to acquire new businesses, such as the indie retail lender Mortgage Network and the brokerage Superior Rate Mortgage of New England. It’s a more entrepreneurial style, but compensation follows the traditional model at retail lenders.

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3 Digital Checklists Every Retail Team Needs

GoForrmz

Digitize your retail checklists to improve daily operations and enhance the in-store experience for customers To ensure that your daily operations at your retail store are efficient and running smoothly, it is imperative that you have taken your paper checklists to digital.

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[eBook] The Top Digital Retail Forms for the Holiday Season

GoForrmz

Simplify the busiest time of year for your retail business with digital forms. Retail forms vary depending on your business, but paper documents all end up the same way: an inefficient mess.

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

Housing Wire

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.

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Artificial Intelligence: Reshaping the retail industry

Valuation Review

Artificial Intelligence (AI), according to an article in CIOReview, will play a key role moving forward as online shopping supplants brick-and-mortar retail stores with enterprises prioritizing AI. Additionally, AI can transform every facet of retail business

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How Digital Forms Simplify Retail Inventory

GoForrmz

Learn how digital forms simplify retail inventory management with our powerful form builder and captured data Whether your retail store is a national brand or a small boutique, inventory management is a critical component of business operations.

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From Industrial to Retail: A Deep Dive into Evaluating Commercial Real Estate

The Robert Weiler Company

Swimming in Success: Restaurant and Retail Space. Of all the subtypes of commercial real estate Ohio has to offer, restaurant and retail space are perhaps the most “fun.”

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[Inside Edition TV] The Fifth Avenue Retail Apocolypse?

Miller Samuel

Real estate brokerage firm Cushman & Wakefield wrote a research piece on the prime Fifth Avenue retail corridor from 49th Street to 60th Street that was covered in a widely read Wall Street Journal article called Fifth Avenue Losing Luster as Vacancies Climb, Rents Fall.

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Healthy Mix of Refis and Purchases in July; Highest Rates in a Week as Retail Sales Surge

Appraisal Buzz

The post Healthy Mix of Refis and Purchases in July; Highest Rates in a Week as Retail Sales Surge appeared first on Appraisal Buzz. Refinancing and home purchases had a nearly even share of mortgage originations in July.

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First Internet Bank is shuttering its consumer mortgage business

Housing Wire

Mortgage consumer mortgage First Internet Bank mortgage layoffs mortgage lending Retail layoffs

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5 Reasons Why Banking on the Future of Retail Rental Space is a Brainy Choice

The Robert Weiler Company

Just as many today predict an all-digital retail environment, a final death blow to brick-and-mortar retail rental space, so have they expected the long-coveted “paperless office.” Partnering With the Experts for the Retail Rental Space of Your Dreams.

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Welcome to Walmart. Here’s your mortgage

Housing Wire

Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services. ” Walmart isn’t the first warehouse-style retailer to offer mortgage products on location.

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Avison Young on the Edmonton retail segment's Q3 performance

Mortgagebroker News

Supply robustness helped remove some of the volatility in the market

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American Pacific Mortgage scoops up former FAM employees

Housing Wire

FoA also reportedly failed to close a deal with Guaranteed Rate to acquire FAM’s forward retail business. Mortgage Origination American Pacific Mortgage Finance of America Finance of America Mortgage mortgage layoffs retail lenders wholesale

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Multi-Tenant Retail Center

Mores Appraisal Group

We appraised the partial ownership interest of a multi-tenant retail center with a fast-food pad restaurant located on Jarvis Avenue in Newark California for estate planning purposes. The post Multi-Tenant Retail Center appeared first on.

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Multi-Tenant Retail

Mores Appraisal Group

The post Multi-Tenant Retail appeared first on. Building in Lakewood, CA. Slider Home

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Celebrity Home Loans exits correspondent channel

Housing Wire

Amid a market downturn, the company has decided to focus on the retail lending business. “As Mortgage Origination Celebrity Financial Celebrity Home Loans correspondent channel nonbank retail lender The Cypress Group

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Angel Oak Home Loans cuts 15% of its workforce

Housing Wire

Atlanta-based Angel Oak Companies instituted a round of layoffs at its retail mortgage company on Friday, not long after trimming the workforce in its wholesale and correspondent business.

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