Housing Wire

OCTOBER 15, 2024

Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. million people — Fairway had three retail loan offices and three desks in real estate offices, all in majority-white areas. million civil penalty.

Advertising 444

Advertising Lending Loan Officers Retail 444

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

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Loan Officers Technology Lending Tools 408

Housing Wire

OCTOBER 4, 2024

Kevin Peranio, left, of Paramount Residential Mortgage Group, and Candice McNaught of Supreme Lending lead a panel discussion during the HousingWire IMB Summit in Dallas on Oct. At Supreme Lending — which produced approximately $3.7 We have taught loan officers how to redo loan refinances.

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Mortgage Loan Officers Lending Real Estate Agent 390

Housing Wire

OCTOBER 7, 2020

“The market remains underserved in the sense that the mortgage lending market has changed so quickly that everyone is still trying to keep up,” Stone said. Stone also received October Research’s “Leadership Award” in September 2020. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.

Insurance 370

Insurance Real Estate Technology Loan Officers 370

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. The post Simplify complex lending processes with powerful analytics appeared first on HousingWire.

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Lending Valuation Clients Tools 422

Housing Wire

APRIL 14, 2021

economy in March 2020, mortgage lenders had to be nimble in a variety of areas. Prior to integrating FactCheck, the lender used an Excel spreadsheet that the underwriter and or loan officer would have to key information into. Citizens fully implemented FactCheck on September 1, 2020. When COVID-19 first rocked the U.S.

Lending 234

Lending Loan Officers Mortgage Business 234

Housing Wire

OCTOBER 31, 2024

Product comparisons In its announcement of the new rate and additional states, FOA said that its optimistic outlook for the product is fueled by the increased activity in the home equity lending space. In October 2023, FOA announced a rollout of HomeSafe Second to an expanded pool of direct retail loan officers and wholesale brokers.

Mortgage 374

Mortgage Loan Officers Lending Renovations 374

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president.

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Retail Lending Loan Officers Brokerage 418

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

Loan Officers 419

Loan Officers Lending Advertising Home Improvement 419

Housing Wire

SEPTEMBER 25, 2024

Different from the boom of 2020 and 2021, lenders now face a more fragile financial situation, an extended pool of experienced candidates, and the likelihood of a smaller refinancing wave. The data includes employees at parent companies and subsidiaries, in mortgage lending, servicing and other activities.)

Mortgage 426

Mortgage Loan Officers Retail Training 426

Housing Wire

FEBRUARY 24, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors in all things related to mortgage, insurance, moving, renovating and new home transitioning.

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Real Estate Agent Real Estate Agents Loan Officers 297

Housing Wire

SEPTEMBER 15, 2023

The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries. In addition, the company has requested the return of commissions paid for loans that were originated but subsequently recaptured. Gifoli served as a loan officer from May 2021 to October 2021.

Loan Officers 415

Loan Officers Real Estate Legal Lending 415

Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

Loan Officers 405

Loan Officers Tools Business Clients 405

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

Loan Officers 468

Loan Officers Retail Business Mortgage 468

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. These worries are now showing signs of alleviating , though the virus is resurgent.

Mortgage 493

Mortgage Lending Government Loan Officers 493

Housing Wire

OCTOBER 12, 2021

The home lending industry has a massive opportunity to digitalize to create efficiencies and to deliver a simpler end-to-end user experience hat would benefit both borrowers and servicers. Digitalization in the home lending industry does not always require companies to entirely invent new technology solutions. However, it’s important.

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Lending Technology Investing Loan Officers 328

Housing Wire

DECEMBER 11, 2023

Loan discounts — known as pricing exceptions — is when a lender makes exceptions to its established credit standards. fair lending laws has been on regulators’ radar in recent years. The CFPB has been tightening its screws on fair lending practices. Its findings showed that mortgage lenders violated U.S.

Mortgage 458

Mortgage Lending Law Loan Officers 458

Housing Wire

JANUARY 12, 2022

Chicago-based Guaranteed Rate will discontinue its third-party wholesale channel, Stearns Wholesale Lending , just one year after it acquired the multichannel lender. increase compared to 2020, according to Inside Mortgage Finance. The figure is believed to be a record for a retail loan originator.

Retail 397

Retail Loan Officers Best Value Business 397

Housing Wire

MAY 22, 2024

The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac.

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Retail Tools Lending Technology 414

Housing Wire

OCTOBER 10, 2023

For example, managers allegedly asked loan officers to select non-Hispanic white options regardless of whether that was accurate or not. However, the CFPB said it found 51 errors in an initial review of 159 files in Freedom’s 2020 submission and asked the company to correct these inaccuracies. Freedom had to pay a $1.75

Brokerage 415

Brokerage Realty Real Estate Loan Officers 415

Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. billion in profit in 2020 and $6.1 billion in profit in 2020 and $6.1 Its parent Rocket Companies rode the wave to a stunning $9.4 billion in 2021. billion in 2021.

Loan Officers 361

Loan Officers Retail Real Estate Agent Real Estate 361

Housing Wire

APRIL 27, 2023

“I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. ” With over 21 years in finance and mortgage lending roles, Yeager’s experience spans investment banking, residential retail mortgage, and private mortgage lending.

Loan Officers 333

Loan Officers Retail Lending Investing 333

Housing Wire

AUGUST 22, 2022

Kudos to the Loan Officers who have found a way to transition from the refinance boom of 2020 — 2021 and into the purchase market of 2022. Brush up on your company’s lending guidelines or dive into market conditions and economic data that drives your market. To the Loan Officers still standing – I salute you.

Loan Officers 365

Loan Officers Lending Marketing Real Estate 365

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. 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.

Mortgage 526

Mortgage Marketing Retail Lending 526

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. In 2020 and 2021 when refinances were booming, we saw every lender thriving.

Mortgage 358

Mortgage Retail Lending Loan Officers 358

Housing Wire

JUNE 6, 2022

By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

Mortgage 447

Mortgage Loan Officers Lending Human Resources 447

Housing Wire

MAY 25, 2022

Each pod has about 15 employees consisting of loan officers, processors, closers, underwriters, supervisors, and funders, according to multiple employees. ” Loan officers, who are 100% commission based at Keller Mortgage, were not part of the layoffs, according to multiple employees. . billion this year.

Mortgage 416

Mortgage Loan Officers Retail Training 416

Housing Wire

JULY 16, 2021

Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The company will be headquartered in Santa Ana, California, Stearns said, home of Kind Lending. The second big mortgage joint venture announcement this week is a meeting of the Glenns.

Mortgage 425

Mortgage Lending Brokerage Agents 425

Housing Wire

MARCH 25, 2021

The capital raise follows a $5 million Series A funding round in June 2020. In short, their AI platform, which is built on aggregated loan data from its network, allows loan officers, processors and underwriters to offload manual, arduous tasks. Clients include Credit Union of Colorado , Texas Lending and JMAC Lending.

Mortgage 425

Mortgage Lending Technology Loan Officers 425

Housing Wire

JULY 27, 2022

million consent order, stemming from a referral the CFPB made in November 2020. a subsidiary of Warren Buffet’s Berkshire Hathaway , discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority areas and sent racist internal emails.

Loan Officers 418

Loan Officers Mortgage Law Contracts 418

Housing Wire

OCTOBER 6, 2021

In 2020, non-QM experienced a liquidity crunch, while agency lending experienced record volumes and heavy margins within that volume. Non-QM is helping lenders capture more volume, keep their staff busy and generate a higher margin on loan production. Then the volume will follow,” he said.

Lending 287

Lending Loan Officers Business Marketing 287

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. . When will the market turn?

Loan Officers 418

Loan Officers Investors Mortgage Clients 418

Housing Wire

MARCH 1, 2021

Fred Bolstad, executive vice president of retail lending at U.S. Bolstad will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Lisa Patterson, chief originations officer at Homepoint. He leads both retail sales and operations, a channel that originated over $47 billion in 2020.

Retail 414

Retail Lending Loan Officers Technology 414

Housing Wire

APRIL 9, 2024

The true cost of redlining Lenders need to carefully evaluate their lending strategies to ensure that they are not unintentionally practicing redlining by neglecting MMCT and LMI neighborhoods, or they may face millions in penalties. From 2020 to 2030, the Urban Institute projects 8.5 million net new households.

Modernization 371

Modernization Lending Legal Legal Fees 371

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. “The area of focus for us right now is hiring LOs,” Lind said.

Lending 369

Lending Loan Officers Real Estate Mortgage 369

Housing Wire

OCTOBER 3, 2024

The industry will see declining interest rates, new capital rules for nonbanks, new open banking rules under Section 1033, huge technology changes, a new tax bill, tens of billions in damage from hurricanes, new loan limits and artificial intelligence “storming into our business,” he said. What keeps McGrath up at night?

Insurance 269

Insurance Technology Lending Business 269

Housing Wire

SEPTEMBER 10, 2022

Mike Kortas, the controversial CEO and co-founder who himself is no stranger to starting online scraps, said other community members, including smaller brokers and AIME’s leaders, have attacked him, his company and loan officers on social media. ” (A review of AIME’s website found no mention of an ethics committee.).

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Brokerage Loan Officers Retail Mortgage 435