Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

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Housing Wire

NOVEMBER 25, 2024

In this HousingWire executive conversation, Chris Kennedy , Director of Sales and Business Development at RiskSpan , explores the key recapture strategies that lenders can follow to maximize profit in the 2025 real estate market. It’s the quintessential function of a mortgage servicer.

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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. Photo courtesy of Willie & Kim Photography) As mortgage rates edge closer to the 6% mark, optimism has spread across the industry.

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Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings.

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Mortgage Loan Officers Inventory Buyers 418

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

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Housing Wire

NOVEMBER 13, 2024

In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. Owen: What’s exciting you about 2025 into the 2030s?

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Housing Wire

SEPTEMBER 25, 2024

Applicants hoping to get a mortgage job in 2024. After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. The data includes employees at parent companies and subsidiaries, in mortgage lending, servicing and other activities.) Image created by AI in Midjourney.)

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Housing Wire

AUGUST 2, 2024

In the message reviewed by HousingWire, DeJoseph wrote that by becoming part of a larger organization, Garden State gains access to a “national lending platform, greater resources, enhanced career development opportunities, and the ability to offer more comprehensive services to our clients, well beyond residential mortgage lending.”

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Housing Wire

DECEMBER 5, 2024

Like the Compass-backed OriginPoint , @properties also has a mortgage joint venture with Chicago-based Rate Proper Rate which Golod said will help to strengthen Compass mortgage offerings. According to Golod, this is a message the company plans to continue to spread in 2025.

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Housing Wire

NOVEMBER 13, 2024

Founder and CEO Vishal Garg made a eye-popping statement when he opined that “in the next 10 years, 99% of the (mortgage) tasks will be completed by bots and 1% by humans.” “The bulk of the tasks that are required to process a mortgage are going to be performed by AI bots over the next 10 years,” Garg said in an interview with HousingWire.

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Housing Wire

AUGUST 5, 2024

mortgage market , which has already seen big interest rate declines in the past week following a Fed meeting that teased forthcoming cuts to benchmark interest rates, along with a much weaker-than-expected jobs report. Mortgage spreads tightened at the same time, taking the Fannie Mae current coupon to 5.05%.

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Housing Wire

SEPTEMBER 16, 2024

At the end of August, Guild Mortgage announced a suite of products under the name “ Flex Payment Mortgage ,” which includes Home Equity Conversion Mortgage ( HECM ) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

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Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

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Mortgage Loan Officers Finance Buyers 468

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand.

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Mortgage Buyers Inventory Technology 482

Housing Wire

SEPTEMBER 20, 2024

The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s leading trade association, is preparing to host its 2024 Annual Meeting and Expo on Sept. The event is typically the largest, most expansive meeting for a wide variety of reverse mortgage professionals. 24-26 in San Diego.

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Mortgage Logistics Loan Officers Appraisal Process 468

Housing Wire

JANUARY 3, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services issued pink slips to more than 80 employees in November as it faced tough headwinds in 2023. The WARN Notice shows that the workforce reduction includes 10 loan officers , senior app developers and vice presidents of app development, talent sourcing and sales manager.

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Housing Wire

DECEMBER 14, 2024

In this weeks episode of the Power House podcast , HousingWire President Diego Sanchez sits down with Terry Schmidt , CEO of San Diego-based Guild Mortgage , to discuss the companys recent acquisitions, reverse mortgages and the use of artificial intelligence for mortgage originators. AI is a huge part of that.

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Loan Officers Mortgage Retail Design 252

Housing Wire

OCTOBER 30, 2024

When asked whether loan buybacks were a more significant issue last year than now, Freddie Mac executive Sonu Mittal says emphatically, “It depends on who you ask.” Mittal spoke to HousingWire this week during the Mortgage Bankers Association (MBA)’s Annual Conference and Expo in Denver. points,” Mittal said. “In

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Housing Wire

JUNE 5, 2024

California -based mortgage lender loanDepot (LDI) has made two additions to its sales leadership team. Andrews comes to loanDepot with 25 years of mortgage industry experience, including a recent stint as national director of branch partnerships at Movement Mortgage. The lawsuit was filed in the U.S.

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Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

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Mortgage Loan Officers Finance Investors 418

Housing Wire

AUGUST 6, 2024

California-based mortgage lender loanDepot reduced its financial loss in the second quarter of 2024 while still feeling the impacts of a January cyberattack. During the three-month period, the company increased its volumes and margins while implementing an efficiency program and selling mortgage servicing rights (MSRs).

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Loan Officers Mortgage Marketing 448

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

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Contracts Loan Officers Legal Best Value 397

Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview.

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Loan Officers Investors Mortgage Clients 418

Housing Wire

NOVEMBER 10, 2023

Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I I think we were up right around 15% increase in the number of initial mortgage applications.

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Mortgage Inventory Retail Marketing 459

Housing Wire

NOVEMBER 5, 2024

As a result, loanDepot is retiring its Vision 2025 strategic plan, which began in July 2022 to help the company reduce its non-volume expenses by more than $730 million. Vision 2025 will be replaced by a program called Project North Star that is focused on the homeownership journey. Meanwhile, the company’s total revenues reached $314.6

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Loan Officers Retail Investing Brokerage 397

Housing Wire

SEPTEMBER 20, 2024

Senate bill introduced this past December that targets mortgage trigger leads, has been incorporated into the fiscal year 2025 National Defense Authorization Act (NDAA). Organizations including the Mortgage Bankers Association (MBA) and the Independent Community Bankers of America (ICBA) have been vocal advocates for such a move.

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Law Loan Officers Design Mortgage 459

Housing Wire

SEPTEMBER 7, 2023

Equity Prime Mortgage (EPM) has completely shifted to the TPO business after seeing growth opportunities in the wholesale channel, a distribution channel that’s been growing in recent years. Many of EPM’s retail loan officers transitioned to Informed Mortgage , a lender Carpitella launched in August.

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Retail Loan Officers Business Lending 418

Housing Wire

AUGUST 26, 2024

When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio. million clients, a number it will likely reach by early 2025 after migrating Flagstar’s customer base. This period was a windfall for servicers.

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Mortgage Business Investing Clients 458

Housing Wire

OCTOBER 18, 2024

In this week’s episode of the Power House podcast , HousingWire President Diego Sanchez speaks with Steve Jacobson, CEO of Fairway Independent Mortgage Corp. The duo also discusses Fairway’s status as a top 15 mortgage lender even after its decision to leave the wholesale channel. As consumers, we expect instant everything.

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Loan Officers Mortgage Business Real Estate 448

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. This has resulted in the company closing branches and laying off loan officers on the retail side. “Wholesale is growing. in 2014. .

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Retail Loan Officers Landlords Lending 370

Housing Wire

OCTOBER 23, 2023

” Martell’s first big move as CEO was to announce the Vision 2025 plan in July 2022, which included simplifying the organizational structure, focusing on client service, quality, automation and operating leverage. Amid a shrinking market, Vision 2025 was extended into 2026 and beyond, Martell said. We’re stable.

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Technology Loan Officers Retail Marketing 448

Housing Wire

NOVEMBER 7, 2024

Finance of America (FOA), the reverse mortgage industry’s leading lender, announced its third-quarter 2024 earnings results on Wednesday evening. Fleming also mentioned the company’s future plans, highlighting the recently reshaped HomeSafe Second second-lien reverse mortgage product.

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Housing Wire

MAY 31, 2023

Hanson’s promotion comes at a time when the lender is focused on propelling forward its Vision 2025 strategic plan, which includes rightsizing its operations as the company is in the red. The company expects higher production and a further reduction in controllable expenses that will help the lender narrow losses in Q2.

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Marketing Development Mortgage Loan Officers 370

Housing Wire

JUNE 13, 2023

Add Guild Mortgage to the list of lenders offering down payment assistance programs in order to court more buyers at a time when mortgage rates remain elevated. To qualify for the 1% down payment advantage program, buyers must have a minimum credit score of 620 and a 95 to 97% loan-to-value first mortgage.

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Housing Wire

JULY 19, 2023

The dour housing market over the past 18 months has thrust struggling independent mortgage lenders (IMBs) into what seems like a pot of water that is coming slowly to a boil. Repurchase requests are prompted after GSE quality-review teams uncover underwriting errors in mortgages purchased by the agencies. “It

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Mortgage Marketing Lending Buyers 370

Housing Wire

JANUARY 4, 2024

Editor in Chief Sarah Wheeler sat down with George Brady, loanDepot’s chief information officer, to discuss the company’s evolving tech strategy and how he thinks long-term about tech in a rapidly changing environment. What drew you into the mortgage industry? SW: Is 14 years a long time when it comes to mortgage tech?

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Technology Loan Officers Modernization Supply Chain 443

Housing Wire

OCTOBER 4, 2024

For the average homebuyer, taking out a mortgage is stressful. That’s where a mortgage loan officer (MLO) comes in. Mortgage loan officers, also known as mortgage loan originators or lending officers, generally make salary-based income with commission.

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Real Estate Loan Officers Tools Law 448