2009 Clients Loan Officers 
Housing Wire
APRIL 15, 2024
Humble beginnings Schmidt was working as a restaurant manager in the late 2000s, and in 2009 he caught wind of a potential opportunity from one of his employees. One of my employees said that her mother worked in doing some type of loans,” Schmidt said. “I I didn’t even know much about mortgages at the time; I was much younger.
Housing Wire
JANUARY 27, 2023
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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Housing Wire
FEBRUARY 9, 2023
The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement. Lisa Thomas, chief executive officer of Town Square, added that the deal also brings “a portfolio of expanded loan products backed by a lending platform with state-of-the-art technology.”
Housing Wire
MARCH 27, 2023
The North Carolina-based First Citizens announced on Monday an agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire all of SVB’s deposits and loans that were moved to an FDIC-created bridge bank after the collapse. “We the chief executive of First Citizens, said in a statement.
Housing Wire
JANUARY 17, 2024
2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rates and limited purchasing power due to increasing debt. That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. Yet staggeringly few are aware of its existence.
Housing Wire
JANUARY 19, 2023
The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex. The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans.
Housing Wire
MARCH 15, 2023
He joined Fannie Mae in the wake of the financial crisis in 2008-2009 and served as CEO from 2012 to 2018. SVB operated as a portfolio lender in the residential mortgage space, not selling loans on the secondary market. SVB focuses on jumbo loans (greater than $726,200), which have lower rates, for primary and secondary homes.
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