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There have been countless press releases and news articles about how AI is changing the mortgage industry. The industry fears AI will ultimately replace everyone, from operations to loanofficers. As a loanofficer , I am not losing any sleep, and here is why you should not, either. Absolutely not.I
Leading mortgage technology provider Uplist recently announced a new integration with fellow tech firm Polly. This move grants loanofficers access to real-time insights that are designed to improve borrower assistance and engagement. The integration comes at a time of rising refinancing activity.
Entering the mortgage industry as a loanofficer can be both exciting and overwhelming. Within five years, these individuals and their referrals will become your clients. Treat them with kindness and respect because, you never know, they could eventually become a future client or referral partner.
The mortgage professional of the future goes beyond the transaction. Our mortgage industry is experiencing a fundamental shift. Traditional loanofficers who focus solely on transactions are being replaced by mortgage professionals who act as financial strategists, long-term advisors, and educators.
Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls’ prior experience spans several companies — including Movement Mortgage and WR Starkey Mortgage.
Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loanofficers in North Carolina. After Mike paid his loanofficer assistant, he was clearing just 40 bps. It was late 2022 and Mike was feeling the pressure. The lower comp rate stung.
The state of leadership in the mortgage industry When people say, Theres no such thing as a perfect company, are they really acknowledging an inherentflaw or are they feeling the void left by inadequate leadership? Four months later, the branch was still struggling, and worse, my top loanofficer now the branch manager quit.
Tim Nelson, a longtime reverse mortgage industry professional and reverse department manager at VIP Mortgage in Scottsdale, Arizona , spent 20 years in the home lending arena before shifting his focus entirely to reverse. Nelson is now a reverse mortgage borrower in addition to being an industry professional.
Optimal Blue on Monday announced three major product releases — the expansion of its artificial intelligence (AI) assistant suite, the introduction of Scenario Optimizer, and the free availability of Investor Pricing Insight to investor clients. ” The announcements were made at MBA Annual in Denver.
In a new episode of “The LoanOfficer 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. Before, I wasn’t making friends with clients.
and home prices still near record highs, homebuyers are demanding that their loanofficers provide options to lower monthly mortgage payments as much as possible. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. versus a 6.5%
Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, and expanded activities in reverse that stemmed from acquisitions and expansions of existing divisions.
New American Funding (NAF) has snagged top Chicago loanofficer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.
“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.
Reverse mortgage industry performance metrics have continued their soft trend into the third month of the year, though activity in the secondary market was slightly higher than the month prior. to 53 loans, its highest monthly figure since September, according to RMI. to 66 loans. Mutuals endorsement count fell by 2.1%
It’s a tough time to be a loanofficer. Amid all the chaos, loanofficers may be pressed to get creative when it comes to generating new business. Amid all the chaos, loanofficers may be pressed to get creative when it comes to generating new business. There are thousands of loanofficers out there.
Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. Revolution, on the other hand, has been expanding its footprint by scooping up top loanofficers in local markets.
Loan originators in today’s mortgage market have weathered significant challenges. For loan originators , managing the narrative is crucial. The messages you convey to clients, referral partners, and even yourself can significantly impact your success. Use this information to educate your clients and referral partners.
Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index.
CreditXpert , a leading mortgage technology company, announced on Wednesday the launch date for its new credit optimization platform. The new credit optimization platform will combine the best parts of the What-if Simulator and Wayfinder tools, giving mortgage professionals the power to reach more clients and close more loans.
Top 10 mortgage lender Rate — previously known as Guaranteed Rate — announced a new promotion on Wednesday. The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. Most recently, Lindsay served as a mortgageloanofficer at U.S.
1 loan originator in the country by volume for at least five years, is assuming the role of president at Rate Mortgage , the company announced Tuesday. 8 on the Inside Mortgage Finance ranking of top originators at just under $40 billion. 1 mortgage company in America. Shant Banosian, ranked the No.
At their best, LoanOfficers (LOs) should act as financial guides to their customers, helping them see and help surface opportunities that they did not know existed. The Power of Reverse Mortgages for Seniors Reverse mortgages can be a great way to help seniors improve the quality of life in their sunset years.
Introduction As part of our ongoing discussion on the concept of movement in the mortgage industry, it is readily apparent that the failure of mortgage companies to pivot or tweak their business models to satisfy changing market and other conditions has resulted in consolidation based on liquidity, buyback, financial and other concerns.
Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The client had just started a new job, and that can be tricky. All FHA mortgage lenders use a system by the U.S. That changed on September 11.
It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage ‘s pending $1.75 After the deal was announced, CEO Varun Krishna told investors that he expects a lift in purchase mortgage growth after the deal closes. Essentially, it’s the holy grail of mortgage and real estate tech.
There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. Rising rates will likely scare buyers away from the market, as it makes monthly mortgage payments less affordable, loanofficers interviewed by HousingWire said.
Sean Shallis, a “Recovering Realtor” and top-producing loanofficer , is offering strategies to help realtors break through this stagnation by leveraging micro-market shifts to create urgency and inspire action. Leveraging micro-market shifts Realtors have an opportunity to use local market changes to drive urgency for their clients.
ICE Mortgage Technology — part of Intercontinental Exchange (ICE) – will be offering lenders access to investment advisory advice in its Encompass loan origination system (LOS) through a partnership with Halcyon , a tech firm specializing in advanced data integration. “In
Should the goal of marketing technology be to make it so that a loanofficer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Empowerment, not detachment, is the path forward.
Top-producing loanofficer Christopher Keelin has taken his 80+person team over to CrossCountry Mortgage to “take advantage” of the lender’s technology while scaling his business. Keeling also previously held the role of branch manager at Advisors Mortgage Group.
The platform is intended for housing professionals in various sectors, including 5 million loanofficers, appraisers , servicers , underwriters , developers, agents, brokers, attorneys and regulators. Through Araya, CoreLogic will give customers access to the data and analytics of nearly all U.S. properties on one platform.
The reverse mortgage industry has long sought to streamline and maximize its ongoing efforts to connect with prospective borrowers. After a challenging year for the mortgage industry broadly and the reverse mortgage business specifically, companies are aiming to assess the best ways to accomplish these ongoing goals.
26 in Dallas, provided valuable insights into the forces shaping the mortgage and housing markets in 2025. Dark Matter Technologies makes it a priority to stay ahead of these trends, ensuring our clients have the right tools to scale efficiently when market conditions change. The HousingWire Economic Summit, held Feb.
Drive purchase mortgage growth: The transaction will generate significant revenue synergies across search, real estate brokerage, mortgage origination, title and servicing. Rocket will match homebuyers with the best real estate agents and the best loanofficers across the combined companies.
And, in the mortgage industry, AI will play an instrumental role in helping loanofficers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Blend’s mortgage banking software processed 23.2% Artificial intelligence (AI) is a buzzword in virtually every industry right now.
In an environment where 30-year fixed mortgage rates are racing towards 8%, loanofficer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. They are staying busy relative to the market,” Ullmann said.
Our new platform brings unprecedented speed and certainty to home financing, helping loanofficers and their clients win more deals. Conversions are also likely to be stronger under the system, with zavvies Cash Advantage program achieving a 92% mortgage attachment rate. Cash and certainty win deals, Hornung added.
Kortney Lane-Schafers has been promoted to vice president of growth and client advocacy at Mobility Market Intelligence (MMI), which offers data intelligence and market insight tools for the mortgage and real estate industries.
With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s
Matt Nader is the new president for First Home Mortgage , a full-service residential mortgage lender. Nader joined First Home Mortgage in 2018 as a loanofficer and quickly rose to the top of the production rankings, demonstrating exceptional talent and dedication.
Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loanofficers to ML Mortgage.
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loanofficers and lending executives told HousingWire on Friday. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles.
AnnieMac Home Mortgage appointed Ian Aubourg to the role of senior vice president of retail sales, the Mount Laurel, New Jersey -based lender announced Monday. In his new position at AnnieMac, Aubourg will tap into his leadership skills to drive growth and improve the mortgage experience for clients.
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