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The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Formed in 2023, the MSEA is a platform for nurturing the next generation of mortgage leaders. Here’s what our panel of mortgage servicing executives had to share.
Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash.
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? It became clear that he was far more comfortable and fulfilled working directly with clients than managing a team.
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.
Mortgage tech firm TRAiNED Inc. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. In 2017, Cunningham, de Jong and three others founded Sales Boomerang, an automated borrower intelligence and retention system for the mortgage industry.
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.
Mortgage Capital Trading (MCT) has released a new AI adviser for mortgage capital markets called Atlas. platform, Atlas serves as a virtual capital markets expert and educational resource for MCTs mortgage lender clients. No client data has been exchanged with or used to train Atlas, MCT says.
This was some of the perspective shared by Matt Cook, the director of business development at HomeTeam Inspection Service , who shared with HousingWire ‘s Reverse Mortgage Daily (RMD) how the growing number of older homeowners is impacting what he sees on a daily basis. Some feel like homes arent built like they used to be.
From the RISE stage in Las Vegas , Real unveiled three new products for agents and clients on Tuesday. It can also explain an agent’s payout on any transaction and is integrated with Real Academy, which will give agents access to the brokerage’s entire catalog of training sessions and workshops.
Baltimore-based private mortgage lender Dominion Financial is joining the AI movement. On Monday, the company announced the addition of two artificial intelligence-powered assistants to help real estate investors and mortgage brokers. Harvey will assist real estate investors while Donna is for mortgage brokers.
He emphasizes the importance of a diverse product portfolio including DSCR and business-purpose loans, to better serve clients. Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training. Non-QM opens doors for real estate investors.
Much like lawyers needing to take a separate bar exam in each state they wish to practice in, real estate agents’ training and licensing requirements vary by state. 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.
After years of high interest rates, and price spikes, mortgage lenders are optimistic heading into 2025. Fannie Mae predicts a 28% increase in mortgage originations to $2.1 The Mortgage Bankers Association (MBA) also predicts that total origination volume will increase by 28.5%
The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Federal regulations mandate that nonbank LOs take training prior to being certified.
Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Our free webinar, “ Components of AMC Training ” will be held on June 10th at 2 pm with Josh Walitt as the host. Buzz : Why do AMCs need the training?
For those borrowers historically underserved in the traditional mortgage industry, Deephaven Mortgage has proven that its expertise in the non-QM space can benefit both brokers and borrowers. Deephaven offers great, hands-on training that quickly gets brokers comfortable with the process and submitting loans.
His message to realtors is clear: now is the time to educate clients and take advantage of market inefficiencies to unlock success in Q4. Realtors, just like buyers and sellers, are in a holding pattern, but hesitation can cost your clients—and your business—more than you realize.
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.
The Legal League is uniquely positioned to drive progress in the mortgage servicing industry. Non-Uniform Foreclosures was inspired by a discussion on the rise in reverse mortgages being referred to foreclosure, as well as the processes for completing a foreclosure on tribal lands. Q: What prompted the need to write this white paper?
As one of the largest correspondent investors in the country, AmeriHome is focused on being a consistent, reliable partner to its clients. In the COVID-19 era, that means AmeriHome has spent even more time listening to what clients need and adapting their products and services to help clients navigate constantly changing lending conditions.
Central, when the Five Star Institute , in partnership with Global Strategic , present “ Partnering for Performance: Mortgage Operations Outsourcing.” The Five Star Institute Webinar Series aims to broaden the horizons of the mortgage industry. He joined the Covius team in March of 2013 as SVP of Operations.
The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. Both lenders and borrowers need to grasp these changes to skillfully move through the maze of mortgage regulations. Adapting to changes Success in the mortgage industry hinges on your ability to adapt.
HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: What sets Trelix apart from other mortgage fulfillment services?
Dedicated sales support: Clients benefit from direct access to dedicated account executives and sales support, including client advocates who assist with the manufacturing side of originations. Marketing support: White-label materials for brokers to brand and market their services along with a mortgage trigger lead pass-back program.
Rocket Companies , parent of Rocket Mortgage , has its eyes on the solar energy industry, announcing this week that it will enter the green energy game by 2022. “We have a significant portfolio of clients, roughly 2.5 PACE programs are also not regulated as heavily as other financial services, including mortgage lending.
With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower.
Cautious optimism is prevalent in the mortgage industry for 2024 as industry professionals anticipate the recovery of lost origination volume. We’re utilizing the latest technology to do that with video and making the training much more engaging than they were back in the Loan Toolbox days.”
HousingWire recently spoke with Brian Adams, Division President of Due Diligence at Consolidated Analytics , about due diligence in the current mortgage market. Brian Adams: With the steep increase in mortgage rates, we have essentially seen a hard stop in refi activity. Most of our due diligence is done to a securitization scope.
Rocket Mortgage originated more than $100 billion in mortgages for yet another quarter, but profit margins are trending down. And the country’s largest mortgage lender expects a good-sized slowdown in the second quarter of 2021. The post Rocket Mortgage prepares for a slowdown appeared first on HousingWire.
Tim Bowler, the president of ICE Mortgage Technology , appreciates a good analogy. Treasury official says that the mortgage technology giant’s integration of Black Knight isn’t dissimilar to building a rail line. There are about 13,000 workers in ICE’s mortgage technology segment, and expenses are rising.
Earlier this year, Lewisville, Texas-based property services company MCS announced that it acquired Five Brothers Asset Management Solutions , a deal that brought MCS into the reverse mortgage industry for the first time. Craig Torrance: We’re still learning the reverse mortgage space. I never, ever talk to my servicer.
Homelendia Mortgage LLC, a Florida-based mortgage brokerage franchisor, launched its mortgage brokerage franchises this week, offering individual unit and regional opportunities to qualified individuals, teams, brokerages and loan originators. That changes now,” Homelendia CEO Frank Chimento said in a press release.
Every business is on the brink of significant transformation driven by the potential of Artificial Intelligence (AI) and workflow automation, and the mortgage industry is no exception. HousingWire spoke with Gareth Borcherds , managing director at Ascent Software Group about how AI is speeding up processes in the mortgage industry.
Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. ” Jason Bressler, executive vice president and chief technology officer at United Wholesale Mortgage (UWM), said. People who use AI will replace your job.”
Real estate agents often make the mistake of believing their clients will remember them forever but they dont. Its up to us as agents to stay engaged and stay in contact with our clients. When you buy through our links, we may earn a commission. So, where do you start? Why send a regular real estate newsletter?
Intuitive technologies developed and built by experts in both mortgages and technology can drive efficiency, reliability and profitability when paired with exceptional customer service. We keep our ears to the ground and are always ready to pivot, find a solution and develop technologies our clients need to have a competitive edge.”.
Kimberly Angellone: I have a strong foundation in using technology to improve appraisal products and services, backed by over 16 years of experience in the mortgage and real estate appraisal field. In a competitive market, updating appraisal practices with the latest technology helps appraisers meet the changing needs of clients.
Recent cyberattacks at mortgage companies have put the industry in alert mode, executives at top lenders, servicers, tech vendors and investors told HousingWire. According to the tech leader, “it feels like there’s a target on mortgages,” which makes sense considering the types of data and documents these companies deal with.
Housing Wire recently sat down with Newbold Advisors Partner Robert Simpson to learn more mortgage claims in today’s servicing climate. HousingWire: What are some key challenges servicers are currently facing regarding mortgage claims? Robert Simpson: This is a pivotal moment for mortgage servicers.
HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.
Chris Bruser, a reverse mortgage professional in Florida , agreed with an assertion that most people do not dream of entering the reverse mortgage business when they’re kids. The company sent its trainees to the World Trade Center in New York for eight weeks of training. We’ll teach you the mortgage business.
There’s no question that a digital-first way of doing business is becoming the norm and the demand for digital in the mortgage industry is only growing. HousingWire: Is this the year that digital mortgages and eClosings really accelerate? HousingWire: Is this the year that digital mortgages and eClosings really accelerate?
Women like Agnes Standowicz, VP, Underwriting Leader at United Wholesale Mortgage (UWM). Agnes Standowicz: I began my mortgage journey in my last year of college when I was hired at a small broker shop to help answer phone calls. From there, I wanted to learn everything I could about the mortgage process.
New York-based multichannel lender US Mortgage Corporation is expanding its efforts in the reverse mortgage space, illustrating its focus on growth. The company recently hired reverse mortgage industry veteran Ken Krajewski to serve as its managing director and head of reverse mortgage lending.
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