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.

Mortgage 448

Mortgage Loan Officers Business Finance 448

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.

Lending 418

Lending Real Estate Agent Loan Officers Retail 418

Housing Wire

OCTOBER 31, 2022

Founded in 2009 and based in California, Mortgage Coach provides an interactive borrower education platform that lets loan officers guide borrowers through a visual presentation of their loan options.

Mortgage 448

Mortgage Project Management Loan Officers Design 448

Housing Wire

JANUARY 9, 2024

Approved by the Nationwide Multistate Licensing System (NMLS) since 2009, MEC specializes in online mortgage and financial services professional development. MEC prides itself as a “one-stop online resource for all things mortgage training and education.”

Training 448

Training Mortgage Lending Real Estate 448

Housing Wire

MARCH 1, 2021

In 2006, loan officers were collecting record paydays by issuing mortgages to anyone with a pulse and a dream, underwriters were in high demand, and an army of processors were hired to help make it all happen. Not that many Americans were looking for mortgages between 2008 and 2009 anyway. Live by the sword, die by the sword.

Mortgage 370

Mortgage Loan Officers Retail Business 370

Housing Wire

FEBRUARY 9, 2023

Headquartered in Dallas and founded in 2009, Town Square reached $805 million in volume in the last 12 months, the Modex data shows. Most of the originations were conventional and purchase loans. According to Modex, the new company will also have about 35 branches and 200 active loan officers.

Mortgage 370

Mortgage Retail Loan Officers Lending 370

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 of the production was conventional loans and 49% consisted of purchase loans.

Insurance 83

Insurance Loan Officers Mortgage Clients 83

Housing Wire

JANUARY 17, 2024

Longbridge Financial is taking the lead The reverse industry has been working hard for years to educate real estate agents, builders and loan officers on the advantages of reverse purchase financing, and Longbridge Financial, LLC is making strides in expanding educational efforts. Yet staggeringly few are aware of its existence.

Finance 482

Finance Real Estate Agent Real Estate Insurance 482

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.

Mortgage 418

Mortgage Investors Legal Loan Officers 418

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. Mortgage News Daily showed the average 30-year jumbo mortgage rates at 6.15% on Wednesday afternoon, compared to 6.55% for conventional loans. of the production was conventional loans and 49% consisted of purchase loans.

Mortgage 370

Mortgage Loan Officers Insurance Business 370

Appraisal Buzz

MAY 22, 2024

Whittier first joined First Home Mortgage in 2009. Over the years, Whittier has held various positions, including assistant, loan officer, builder manager, branch manager, and regional manager. He began his mortgage banking career in 1992 directly out of the University of Maryland.

Mortgage 195

Mortgage Loan Officers Technology Clients 195

Miller Samuel

FEBRUARY 12, 2019

The 10-year Challenge (2009 vs. 2019). Some analysts are even comparing the current cycle to the last downturn and the housing bubble in 2009, but Miller outlined quite a few differences between then and now. In 2009, the average discount from listing was 10.2%. And, in-turn, when the market falls, it will fall forever.

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Appraisal Buzz

SEPTEMBER 25, 2024

In his current role, Lindner leads TD’s Mortgage Loan Officer sales force, and guides sales strategy and product development. In my current role, I am accountable for leading TD’s mortgage loan officer and community mortgage loan officer salesforce, as well as guiding sales strategy and product development.

Loan Officers 243

Loan Officers Retail Buyers Lending 243

Housing Wire

JANUARY 31, 2023

When loan officers don’t have refinance business, half of their businesses are gone. You now have as many loan officers as you had before fighting for 30% of the overall business. I pivoted to that strategy in like 2009. The inventory puts a cap on how much business we can do.

Inventory 418

Inventory Marketing Business Buyers 418

Housing Wire

DECEMBER 27, 2022

In addition, FHA’s early-payment default (EPD) rate, a measure of loans that become seriously delinquent within the first six months of the mortgage, also has been rising this year and is at its highest level since 2009, according to the most recent Black Knight Mortgage Monitor report.

Insurance 497

Insurance Home Value Mortgage Marketing 497

Housing Wire

AUGUST 24, 2023

“​​With an ongoing tight supply of existing homes for sale and the recent rise in the 30-year fixed-rate mortgage rate to around 7%, we expect home sales in 2023 to remain near the lowest annual level since 2009,” the group said. Total existing home sales fell 2.2% in July from June to a seasonally adjusted annual rate of 4.07 down from 4.88

Construction 284

Construction Retail Mortgage Contracts 284

PennyMac

AUGUST 13, 2024

Although choosing a shorter loan term may lower the amount of interest paid over the life of your new loan, it may not lower your monthly payment amount as much as a new 30-year term loan might. Pennymac’s Loan Officers can discuss the best options for your individual situation. Call us at (866) 549-3583.

Insurance 52

Insurance Loan Officers Mortgage Finance 52

Will Springer Realtor

AUGUST 1, 2023

Short sales were a common sight in the housing recession around 2009 but they have since faded from the headlines as homeowners typically find buyers before facing financial doom. In addition to the homeowner, only licensed lawyers, loan officers and real estate brokers can conduct a short-sale negotiation. What is a short sale?

Sellers 36

Sellers Real Estate Buyers Legal 36

AmeriMac

SEPTEMBER 1, 2021

In 2009, Freddie Mac and Fannie Mae, government housing lending institutions, the Federal Housing Finance Agency (FHFA) and the New York Attorney General got together to create the Home Valuation Code of Conduct (HVCC). None of the key parties can select the appraiser—including the loan officer, mortgage broker, or homeowner.

Appraisal 36

Appraisal Valuation Law Lending 36

Assurance Financial

JANUARY 3, 2022

For example, in the great financial crisis of 2008 and 2009, there was a 120% increase in foreclosures from the previous years, and many second-position lenders didn’t get paid in foreclosures. Our in-house loan officers will work with you to underwrite your loan. Banks may not be willing to take up this kind of risk.

Mortgage 69

Mortgage Finance Loan Officers Law 69

AmeriMac

MARCH 15, 2024

One of the key regulatory changes was the implementation of the Home Valuation Code of Conduct (HVCC) in 2009. Loan officers can focus on other aspects of the loan origination process, knowing that the appraisal process is being handled by qualified professionals.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

Housing Wire

NOVEMBER 5, 2020

When the talk was to get rid of mortgage brokers after the financial crisis, we testified on Capitol Hill, and when COVID first hit, we were first out of the gate because we didn’t want to see a repeat of what happened in 2008-2009. We worked right away to protect credit reporting.

Mortgage 482

Mortgage Loan Officers Tools Training 482