Housing Wire

FEBRUARY 21, 2023

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. Kearney’s simple strategy for surviving as a high-volume seller in an environment where demand has dried up: listen to the market and do what it says. “As If it’s not moving, change the pricing so it does move.

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Housing Market Renovations Marketing Retail 384

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business.

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Lending Business Retail Client Relationships 384

Housing Wire

OCTOBER 31, 2022

The acquisition includes four manufacturing facilities, 22 retail locations and transportation operations. These homes are sold by retail stores in New Mexico, Oklahoma and Texas. The seller was Volumetric Building Companies. Cavco is funding the acquisition with cash on hand in its entirety.

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Retail Legal Transportation Sellers 384

Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Impac is transitioning its retail consumer direct lending division into a mortgage broker fulfillment model to offer various products at a reduced cost per loan.

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Mortgage Retail Design Brokerage 370

Housing Wire

APRIL 30, 2024

AARP concerns “FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” HUD said in its update to the policy. Lisa Moriello “I think they just clarified who they think interested parties should be,” Moriello said. “I

Mortgage 419

Mortgage Real Estate Agent Sellers Construction 419

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. We took an affordability hit after July of 2022 and since most sellers are also buyers, it was too expensive to move, or you couldn’t qualify to sell to buy another house, directly impacting housing inventory. 5-12) : Inventory rose from 499,143 to 505,223 Same week last year (Jan.

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Inventory New Listings Retail Mortgage 533

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. On average, about 50% of referrals to a retail LO come from buyers’ agents, VanFossen said. Assisting homebuyers and their agents adds more to an LO’s plate.

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Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

APRIL 25, 2022

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. . It has about 350 loan officers and roughly 100 retail branches. . It has been a Freddie Mac , Fannie Mae and Ginnie Mae approved seller and servicer since 2012.

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Retail Loan Officers Mortgage Lending 384

Housing Wire

JULY 19, 2023

As a direct and proximate result of Chikonde’s actions, Fannie Mae temporarily suspended Go Mortgage’s seller/service number, which caused the company to be unable to deliver loans,” the suit said. Go Mortgage, licensed in 44 states, originates in both the retail and wholesale channels.

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

APRIL 27, 2023

The company will now operate as a mortgage brokerage, giving up its retail consumer direct lending division and winding down its third-party origination (TPO). In March, Impac announced changes to the business.

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Brokerage Retail Lending Design 384

Housing Wire

APRIL 15, 2024

If sellers wait, their business valuations could remain relatively stable or come down. Certainly, in the last two years, distributed retail, in particular, has been the primary interest for all the buyers,” Ludden said. “As But in the short term, retail is the place that has the ability to create the most marginal value.”

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Mortgage Retail Buyers Investors 458

Housing Wire

NOVEMBER 16, 2022

For a 3-2-1 rate buydown, the seller contributes a lump sum at closing, which is put in the buyer’s escrow account. By adding the buydown feature to our Smart Series, we feel that we’re expanding our ability to help potential buyers and sellers come together.”.

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Sellers Government Retail Buyers 384

Housing Wire

MARCH 30, 2021

The publicly traded mortgage lender announced Tuesday that retail branches are now open in Dayton and Columbus, Ohio. It’s the first foray into Ohio for the California-based retail lender. ” Headquartered in San Diego, Guild has approximately 4,400 employees serving customers from more than 200 retail branches in 32 states.

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Mortgage Retail Valuation Lending 397

Housing Wire

MARCH 8, 2023

retail residential mortgage applications. The demand, according to Fullmer, also increased because some borrowers realized that “eventually, when rates drop, it will go back to a seller’s market, and buyers will lose the massive credits and other conditions that they can negotiate now.” from the week prior.

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Mortgage Loan Officers Investors Government 384

Housing Wire

MARCH 29, 2021

It also nearly tripled its seller base at the end of 2020, compared to the prior year, and continues to add new correspondent sellers. Prior to those positions, Peach held senior spots at JP Morgan Chase , Aurora Loan Services and Bank of America. According to PHH, in the fourth quarter of 2020, the channel generated $2.6

Lending 370

Lending Retail Sellers Business 370

Housing Wire

DECEMBER 9, 2023

Since most sellers are also buyers, getting growth in this data line will be a positive for home sales in 2024. This will bring more inventory to the marketplace and get more sellers, who will also be buyers. We also have retail sales coming up this week so we will be keeping a close eye on all of these reports.

Mortgage 533

Mortgage Inventory New Listings Sellers 533

Housing Wire

APRIL 24, 2024

I don’t do that so much internally right now because we’ve got this separation in retail and wholesale, but my job is to do that for the partners and for the 86,000 loan officers out there not offering reverse mortgages. Technically, it encompasses brokers, principal agents and closed loan sellers,” he said. “We

Mortgage 420

Mortgage Loan Officers Training Business 420

Housing Wire

FEBRUARY 8, 2021

Excelerate Capital, a multi-state full-service wholesale, retail and residential mortgage banker, announced today the successful completion of its acquisition of Castle Mortgage Corporation. . Mike Thompson, co-founder of Excelerate , will continue to lead the company as chairman and managing member. .

Mortgage 397

Mortgage Retail Lending Finance 397

Housing Wire

OCTOBER 20, 2023

No seller must use a real estate agent to sell a home — ever. They may buy directly from a seller, whether that seller is represented by an agent or not. At one time, the former two had over 1,500 retail locations in the United States combined. I am repeating myself but bear with me.

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Real Estate Agent Real Estate Brokerage Agents 432

Housing Wire

JANUARY 10, 2024

The National Retail Federation found that during the 2022 holiday season, retailers saw 17.9% Rethinking branded gifts One common practice in the real estate industry is gifting branded items like Cutco knives to home buyers and sellers. of the merchandise purchased being returned.

Real Estate 438

Real Estate Clients Retail Client Relationships 438

Housing Wire

OCTOBER 2, 2020

Caliber, headed by CEO Sanjiv Das, has retail, wholesale and correspondent lending channels, and has developed a large book of business in the purchase space. Caliber is also among the 10 biggest GSE sellers, at nearly $34 billion in mortgages through August 2020. As of Sept. That placed Caliber just behind United Wholesale Mortgage.

Valuation 430

Valuation Retail Mortgage Inventory 430

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. The retail lender originated $56.6 The lender’s focus has been in tripling down on its network of top retail LOs.

Mortgage 522

Mortgage Marketing Retail Lending 522

Housing Wire

NOVEMBER 11, 2023

That is the critical period for new listing data to grow; remember, most sellers are buyers. We will also have retail sales, which came in a big beat last month. We saw some good growth this week, and hopefully, in 2024, we can close the gap and get back to 2021-2022 data on new listings.

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Inventory New Listings Mortgage Retail 491

Housing Wire

JANUARY 18, 2023

. “The optimism is based on two factors: one, we’ve seen a nice trend in rates, moving lower over the last few weeks; and two, more and more houses are building up in inventory, so we’re seeing sellers being more willing to work with buyers.”

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Inventory Mortgage Retail Training 441

Housing Wire

JULY 27, 2023

Executives said the channel tends to represent a larger percentage of total industry originations in a low-volume environment because liquidity becomes relevant for many sellers. Pennymac also stands to benefit as banks step back from the channel and increased capital requirements are introduced by bank regulators,” Perotti said.

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Sellers Valuation Inventory Mortgage 369

Housing Wire

MARCH 24, 2021

billion in the wholesale channel in 2020 (compared to about $62 billion in retail), lost roughly 5% of its broker clients to UWM, according to company executives. Then you might as well just go work for UWM retail. “My business is not designed to make my competitors like me, especially retail competitors,” he said.

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Real Estate Agent Retail Real Estate Design 384

Housing Wire

MAY 29, 2024

Some borrowers get these loans in retail stores, and some don’t have access to the statements required by the mortgage industry that contain information related to the current payments and future installments. are examples.

Mortgage 256

Mortgage Clients Sellers Loan Officers 256

Housing Wire

OCTOBER 26, 2023

The correspondent channel continues to be the most relevant for Pennymac, with the number of sellers increasing to 829 at the end of the quarter, compared to 800 on June 30, 2023. Pennymac’s total loan acquisitions and originations reached $25.1 billion in UPB in Q3 2023, up 0.8% In this channel, the company reached $23.9

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Sellers Mortgage Inventory Marketing 421

Housing Wire

APRIL 16, 2023

Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. Purchase application data rose again, with more positive than negative data in 2023. This is one reason housing inventory has taken so long to bottom out.

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Inventory Housing Market Marketing New Listings 538

Housing Wire

JANUARY 22, 2021

The sellers of the stock expect to grant the underwriters a 30-day option to purchase up to 1.875 million shares of the common stock. billion in 2018 and at one point had a retail operation. It originated a total of $38 billion in loans through the first three quarters of 2020, according to the S-1.

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Housing Wire

SEPTEMBER 30, 2022

Many LOs will leave the industry (especially the ones that only do refis and only sell interest rates), others will move probably from retail to wholesale. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage.

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Buyers Mortgage Loan Officers Retail 458

Cleveland Appraisal Blog

FEBRUARY 7, 2023

Do you intend to use it as the foundation for your retail price? Taking accurate measurements yields a more precise cost When setting the asking price for a home, what is one of the most important considerations for the seller and the real estate agent? This means that the reported square footage of your home might be incorrect.

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Real Estate Agent Property Taxes Real Estate Appraisal 289

Housing Wire

OCTOBER 3, 2023

NAR stands by its pro-consumer, pro-competitive guidance for affiliated local broker marketplaces that ensure equity, efficiency, transparency and market-driven pricing options for home buyers and sellers,” Williams wrote in an email. So far, Rath said the response from the industry to Redfin’s choice has been respectful.

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Realtors Brokerage Agents Real Estate 332

Housing Wire

MARCH 23, 2021

retailers and e-commerce merchants, and every $1 of fraud now costs $3.36, up from $3.13 Due diligence to verify the destination account of an escrow or down payment is also essential, since such transfers can’t be undone, and there is little recourse for seller or buyer once the sum is gone. across U.S.

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Lending Mortgage Sellers Technology 450

Housing Wire

AUGUST 3, 2023

They repeat the mantra “Home buyers and sellers will always need a real estate agent.” The latest chatbots, like ChatGPT, are far more advanced than those encountered on most retail websites. After the agent explains how a chatbot works and the benefits it offers, the agent can let the sellers experience it themselves.

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Real Estate Agent Real Estate Agents Tools 370

Housing Wire

SEPTEMBER 2, 2022

The NFT is property agnostic, backed by real dollars and guaranteed by Sun West , which is one of the largest nonbank mortgage companies in the country, licensed in 48 states with a network of some 80 retail branches. To ensure the NFT is traded as agreed, the NFT seller (homebuyer) has two choices.

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Technology Loan Conditions Sellers Real Estate 90

Housing Wire

JUNE 22, 2023

According to Dubeck, Planet remains a “liquidity provider to mid- and smaller-tier issuers, providing competitive prices to sellers. And we probably did six smaller ones in February, March, and April,” Dubeck added.

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Lending Mortgage Sellers Finance 370