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Top cost-effective retail lenders produce loans at half the industry average: Freddie Mac

Housing Wire

The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac. That’s 2.4

Retail 459
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Smartfi hires industry vet Fiore to lead newly created retail reverse division

Housing Wire

San Diego-based Smartfi Home Loans , which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I

Retail 448
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Guild acquires small retail lender Legacy Mortgage

Housing Wire

The lender originated approximately $309 million in mortgages in 2022, according to data from mortgage technology platform Modex. The company has 39 active loan officers across its retail branches, according to Modex data. The distributed retailer’s volume slipped to $2.7 billion in the fourth quarter of 2022 from $4.4

Retail 397
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Will AI replace the loan officer?

Housing Wire

was curious about what he was doing as I always looked for ways to improve my client experience.On Now, remember that this is a top coach, and he is using this technology across his platforms to increase conversions. (and I say the low end because you treat your clients as lesser when you strip the human element from home-buying.

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Dark Matter Technologies execs talk transition from Black Knight, innovation in the mortgage tech space

Housing Wire

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. Read on to learn more about Dark Matter Technologies’ plan for mortgage. Gagliano : We believe strongly in technology.

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WFG acquires West Coast retail title operations from Doma

Housing Wire

announced on Tuesday the completion of an agreement for WFG to acquire certain branches of Doma’s West Coast local retail title operations. The deal includes multiple retail title locations and operations centers in the Northern and Central California regions. Williston Financial Group (WFG) and Doma Holdings, Inc.

Retail 370
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Prioritizing client experience will be key for brokers in 2023

Housing Wire

Independent mortgage brokers are beginning to have the products and tech tools needed to compete with banks and large retail lenders, and customers are reaping the benefits of this growing channel. Smith : The glaring trend is the broker channel has been growing rapidly, and the retail sector is shrinking. DS : Mindset is everything.

Clients 418