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As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. The way we as mortgage lending originators conduct our business has quickly taken on a new form during these times of uncertainty.
Chief operating officer Tammy Richards is taking on a new role at Kind Lending. Richards announced Tuesday on LinkedIn that shes now the president of retail at Kind Lending, a move that comes a little less than a year after she joined the company. But her relationship with loanDepot ended in acrimony after she left in 2021.
HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. The vertically integrated partnership also yields benefits for Angel Oak wholesale clients through surety of execution.
2021 in federal court in Houston, the suit accused Feldman & Feldman of defaming EasyKnock in a post the law firm made on its website cautioning consumers to scrutinize the companys transactions with financially distressed homeowners. Originally filed by EasyKnock in Nov.
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. Kind Lending, a California-based lender founded by industry veteran Glenn Stearns, is a client of LendArch , a mortgage consulting firm that Richards founded in 2021.
Department of Housing and Urban Development (HUD), alleging the agency is “unfairly” holding the company accountable for the actions of an independent appraiser in a 2021 case. Under the Dodd-Frank Act and Truth in Lending Act (TILA), lenders must use independent, state-licensed appraisers to avoid conflicts of interest.
The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. Founded in 1990, Mountain will continue to serve retail and consumer direct clients throughout the Western United States.
The 2021 Women of Influence winners represent 100 of the most influential women in leadership in the housing economy. More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. Aslan Home Lending Corporation.
In an online event on Monday, Qualia and its partners discussed the ever-changing world of technology in real estate, mortgage, and title lending and what lies ahead in 2021. We’re really trying to make all title lending folks stay engaged with customers – through technology – the best that they can,” Tomb said.
Business-purpose residential mortgage lender Dunmor announced Thursday that it has received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. Established in 2021, Dunmor operates nationwide in the consumer direct and broker channels.
The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite.
But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Eric Levin is EVP of Client Development at Model Match.
President of Residential Servicing and Correspondent Lending. Aslan Home Lending. EVP, Client Delivery. Director of Client Success Group. Planet Home Lending. The post Introducing the 2021 HW Insiders appeared first on HousingWire. Chris Favilla. Head of Operations. Howard Hanna. David Sheeler. LoanLogics.
The HW Marketing Leaders make up the best and brightest minds in marketing within mortgage lending, servicing and real estate. The new award program was inspired by marketing execs like Sarah DeCiantis , CMO at United Wholesale Mortgage (UWM) , who, alongside her team, worked to meet clients where they needed her most.
Los Angeles -based Dunmor , a technology -enabled lender that specializes in loans for residential real estate investors , has added a pair of experienced executives in the business-purpose lending space. Pham has 23 years of marketing experience in the real estate and finance sectors.
The lending industry is notorious for its poor customer retention – in fact, only 1 in 5 borrowers return to their original lender for a subsequent loan. Our clients retain as high as 65% or more of their past customers. The result is that for every $1 our clients pay us, we return $20 of profit to them,” says Kutsishin.
Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. million in 2021. Kasle said Radius brought in $2.2 Expansion will come in iterations, he said.
Even with total credit risk transfers (CRT) and non-QM lending trending down due to seasonality, some observers are predicting a strong beginning to 2021. Officials with dvo1, a lending markets analytics company , remain encouraged by low levels of new impairments, which reached pre-pandemic levels in both CRT and non-QM.
San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. in 2021, mortgage data platform Modex showed. of the total volume in 2021, its origination shifted toward purchase mortgages, which accounted for 73.1%
HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. It brings something of value to Realtors, CPAs, attorneys, wealth advisors that they can then pass on to their clients. Get back to basics to find it.
HousingWire reached out to Crisenbery to discuss how COVID-19 has driven technology resources into the housing industry and what’s to come as we enter 2021. Andy Crisenbery : COVID-19 has had a profound effect on almost all business lines in the real estate and lending markets. A great example is remote online notarization.
Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. According to Milo’s press release , clients who use the company’s services can pledge their Bitcoin to purchase a property. If a client qualifies, they will receive a low interest rate 30-year crypto mortgage, the company said.
Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. The most obvious argument against a totally digital lending approach—and the one that requires the least amount of rationale—is that customers don’t want it.
Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.
Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders. in 2021 to $433 billion. billion in home improvement projects.
The mortgage lender’s overall origination volume dropped 54% from January to September compared to the same period in 2021, according to data from Inside Mortgage Finance. of the total first-line originations in the fourth quarter of 2021 to 27.9% from January to September, compared to the same period in 2021.
Stavvy , a fintech firm specializing in digital and remote collaboration for lending and real estate companies, acquired SigniaDocuments, a technology suite from Texas-based lender Evolve Mortgage Services. Founded in 2018, Stavvy works to increase efficiency and transparency in real estate and mortgage lending.
“Having used OptifiNow before, I can confidently say it’s the most efficient CRM system for TPO lending,” Shea Pallante, chief lending officer at OptifiNow, said in a statement. ArcHome will also have access to automated marketing software that tracks client activity across an “integrated history database.”
As lenders continue to adjust to a new normal, the pivotal role of technology has become increasingly clear in maximizing productivity and keeping lending pipelines flowing. HW: Where would you advise clients and colleagues to focus their technology resources as we navigate the second half of 2020 and prepare for 2021?
While the non-QM market took a hit during the early part of the pandemic, these loans are making a comeback and are expected to continue to grow in 2021. HousingWire: What does the performance of non-QM in the first half of 2021 tell us about the future of non-QM lending? We can save the deal for our clients and the borrower.
The deal will allow Black Knight access to Top of Mind’s brain child, Surefire, a customer relationship management system and marketing automation software for the mortgage lending industry. ” The software boasts an all-in-one connectivity between LOSs, CRM, POSs, lead sources and sales acceleration systems. .
In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. At closing, my client will get $10,000 of cash up-front. In 2021, more than $1.2 mortgage rate at the end of August. “At
CoreLogic will manage real estate tax processing operations services for Wells Fargo Home Lending customers and oversee tax customer service via its Digital Tax Portal in order to drive payment accuracy, CoreLogic said in a news release. mortgages are serviced by CoreLogic tax solutions, the company’s website shows.
At HousingWire’s 2021 Annual Spring Summit, CreditXpert VP of Sales and Client Success Matt Hydrew and T odd Worthington , director of qualification support at Bank of England, discussed top-of-the-funnel strategies lenders can use to help borrowers gain a better understanding of their credit score. CreditXpert’s Xpert Credit Process.
The recent string of executive-level hires is part of a company focus to prepare for growth through the end of this year and into 2021. Johnson joins the executive team from global finance company MSCI , where he served as managing director and president of InvestorForce.
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.
According to the complaint, Newhart and the other defendants transferred “things of value,” specifically underpriced, nonvoting stock in Newhart-owned mortgage brokerages to real estate agents and brokers, who in return referred their clients back to the Newhart-owner mortgage brokerages.
Freddie Mac claims this would reduce the paper documentation burden on borrowers, speed loan closing and simplify the lending process. Freddie Mac hopes it can speed up the lending process by allowing lenders to tap into that data. Fannie Mae has also taken steps to expand automatic verification of income and asset information.
HousingWire: We’ve seen multiple predictions of non-QM lending heating up in 2021. We saw and endured COVID force a pause on the business and had to quickly respond and adapt to continue to lend. Angel Oak made it happen thanks to our close connection with investors who trust our loans and lending standards.
Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Acra Lending, which rebranded from Citadel Servicing last year , more than doubled its headcount year-over-year from 200 employees to 420 in 2022. The new rule is slated to be implemented on Oct.
Anthony combines a strong understanding of the business opportunities for mortgage brokers with a dedicated focus on education and client support,” John Keratsis, president and CEO of Deephaven Mortgage, said in a statement. It returned in early 2021 and issued a $146 million security, its first issuance since it shut down.
IDS, founded in 1986 and based in Draper, Utah, employs roughly 75 people and has over 450 clients, including U.S. What are the building blocks of digital lending? In late 2020, Wolters Kluwer GRC acquired cloud-based digital lending software firm eOriginal for about $280 million. mortgage lenders, banks and law firms.
2021 is already shaping up to be a vastly different year than 2020 for the mortgage and real estate industry, and it’s not only because we’re entering a purchase market. There are few more serious sins in the lending industry than earning a repurchase demand.
Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace , a digital mortgage servicing platform. Founded in 2018 , Stavvy works to increase efficiency and transparency in real estate and mortgage lending. Terms of the deal were not announced.
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