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Shant Banosian becomes Guaranteed Rate’s first LO to originate $1 billion

Housing Wire

1 loan originator, has become Guaranteed Rate ’s first loan officer to fund $1 billion in loan volume in one year. Over the course of his decade-long career, Banosian has generated more than $4 billion in funded loans. 1 loan officer nationwide, as well as the top producer in Massachusetts since 2013.

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NEXA Mortgage sued over broker’s alleged data theft

Housing Wire

In a lawsuit filed last week, a mortgage brokerage claimed that one of its former loan officers stole a database containing client names and information and brought it with him to a new job at NEXA Mortgage. 2013 and February 2019. At the end of 2018, the brokerage had 42 loan officers.

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Floify rolls out income/employment verification technology

Housing Wire

“This unique technology will help our clients reduce costs, which is especially important today as verification-related fees increased significantly in the past three years,” said Sofia Rossato, Floify’s president and general manager. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loan officers and other mortgage staffers employed by the bank in California from 2013 and 2019. The deal will provide $62.8 million to the class members, with the remainder going to plaintiffs attorneys.

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Kind Lending hires Tammy Richards as COO

Housing Wire

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. She left the bank in 2013 to join Caliber, holding the position of Pacific Southwest division vice president. The lender originated $1.26

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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

By July 2013, things were going so well that Godin and his wife purchased a lakefront mansion in Winnetka, Illinois, for nearly $13 million , a record for the posh Chicago suburb. The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017.

Mortgage 370
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The fight to standardize educational training for LOs

Housing Wire

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Loan officers working for depository banks are not bound by the same requirements. Regulations to oversee them all.

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