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Sprout Mortgage taps Wells Fargo veteran to lead retail

Housing Wire

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Sprout hired former Wells Fargo executive Michael Johnson to expand Sprout’s consumer and retail sales channel, the company said Tuesday.

Retail 397
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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

Arguably, one of the most important functions of a real estate agent is to guide and be a subject matter expert to clients through the buying and selling processes. Put simply, a good agent is a sherpa who knows every step of the journey and expertly leads their client up the path. How do real estate agents get paid?

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The biggest challenge for the reverse industry in 2024? Mortgage rates

Housing Wire

We’ll have those loans that come in where we have to look at every opportunity that we can to save that deal and help that client. At loanDepot , the company has worked to grow its stature broadly, which has impacted the reverse mortgage division, according to Lisa Moriello, its national retail reverse sales manager.

Mortgage 397
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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal.

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Fintech Maxwell launches POS feature that offers tailored workflows for lenders

Housing Wire

With Blueprint Builder, triggers and business rules can be configured to align the borrower experience to operations processes (such as credit score-based rules), and to support multiple business units or channels, including retail, direct-to-consumer and wholesale.

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Financial wellness resources offered to NAR members through partnership with Morgan Stanley

Housing Wire

According to NAR, this guidance will be uniquely designed to fit the needs of individual Realtors. “But while we work tirelessly on our clients’ behalf each day, it is also critical for every Realtor to take steps to secure their own financial future.”

Realtors 397
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Mortgage rates plummet and everything has suddenly changed — for now

Housing Wire

In just the past day, loan officers should have seen their pricing improve between 25 and 40 basis points on government loans, and by 20 to 60 basis points on conventional scenarios, said Rick Roque , executive vice president of retail at Sierra Pacific Mortgage. ” For refi clients, he’s preaching patience. ”

Mortgage 514