Remove 2007 Remove Loan Officers Remove Marketing
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The Similarities Between 2007 and Today

Appraisal Buzz

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today.

Appraisal 418
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Housing Market Tracker: Spring inventory falls

Housing Wire

In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

Inventory 505
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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. “A small offset or decline in home values, which we are starting to see, (…) can help that consumer who’s in the market for the first time,” Brown said.

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Redfin acquires Bay Equity, pink slips 121 staff

Housing Wire

But Redfin is first eliminating 121 mortgage roles, less than 2% of the total staff, mainly in sales support, capital markets, and operations. Founded in 2007, Corte Madera-based Bay Equity originated a volume at $8.5 Also, Redfin hopes it will let the company reduce investments in lending software by using the Bay Equity system.

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Guild CEO Mary Ann McGarry announces retirement

Housing Wire

McGarry joined Guild in 1984 as a supervisor in internal audit and held several leadership positions until promoted to president in 2005 and CEO in 2007. Guild’s executive vice president David Neylan, who joined the company in 2007, will replace Schmidt as president. He will continue as Guild’s chief operating officer.

Retail 370
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Lone Peak Lending joins Panorama Mortgage Group

Housing Wire

Founded in 2007, Panorama originated from Alterra Home Loans , which carved out a niche by catering to first-time Hispanic homebuyers. In 2019, PMG added two brands, one of which was Legacy Home Loans , which focuses on increasing the Black homeownership rate in America.

Lending 448
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How JVM Lending plans to expand without any loan originators

Housing Wire

The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

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