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According to the survey’s findings, more local community developers who buy at auction see the state of the market as a disadvantage rather than an advantage. The post Auction Demand Weakens in Q3 as Retail Market Softens first appeared on The MortgagePoint. The survey was conducted between Sept.
Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. As the 12th-largest mortgage lender , Planet Home Lending posted an origination volume of $25 billion in 2023, a 5.3% decline from 2022, according to Inside Mortgage Finance.
Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. Certainty Home Lending operates under the umbrella of Guaranteed Rate. Headquartered in Chicago , Guaranteed Rate Companies is the second-largest retail mortgage lender in the U.S.,
Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. “We’re excited to have him on board and look for positive developments with Jim at the helm of Flagstar’s distributed retail operation.”
In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.” This is a breaking news story. Check back for more updates.
Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retaillending. Voyles will be responsible for growing the retail division overseeing sales, operations and marketing as well as building on the existing framework, the company said Wednesday.
Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. Those of you who have worked with us over the years have seen us operate in a profitable manner, and we will continue to do so with an increased focus on our TPO channel in advance of redeploying retail in the future,” he added.
Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage.
Planet Home Lending has promoted four people to vice president positions, supporting the company’s continual growth. Michaelene Whyte has been promoted from processing manager of the East to VP, national fulfillment, distributed retail, and has been with Planet Home Lending since October 2018.
What happens when borrowers can’t or won’t walk into a lending branch? HousingWire recently sat down with Insellerate CEO Josh Friend to discuss that very question and what strategies retail lenders should look to adopt from direct-to-consumer lending. Retail lenders originate loans through their in-person retail branches.
Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S.
The company announced on Wednesday that Bryan Wright will be the vice president of national sales and Cyndi Garza, the vice president of national business development, a new position created in the company. Meanwhile, Steve Runnels will hold the role of vice president of retail sales, east division.
RoundPoint Mortgage has added three new senior executives to its management team, as it prepares to ramp up its retail operations. RoundPoint also added a new chief administrative officer, Joseph Gormley, who formerly held senior positions at the department Housing and Urban Development. Freedom is one of the country’s biggest lenders.
Cloudvirga reports that it has completed an enhanced integration for its Horizon Retail POS product and Encompass Partner Connect , the latest API framework for mortgage technology from Intercontinental Exchange (ICE).
Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. Founded in 2000, Guaranteed Rate sought to boost retail loan originations, scale its JV platform, and develop new multichannel capabilities by acquiring Stearns.
loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgage lending operations. Abarca joined loanDepot as an underwriter in 2013 and became vice president of lending operations in 2021. billion in mortgages, down from $5.3 billion in the previous quarter.
Department of Housing & Urban Development (HUD) will co-host the “Mortgage Market Resilience and Access to Credit Summit” on Tuesday, October 15 at HUD’s headquarters. Census Bureau Advance Monthly Retail Sales (Thursday) Freddie Mac Primary Mortgage Market Survey (Thursday) U.S. Ginnie Mae and the U.S.
Despite a drop in overall profitability in the fourth quarter of 2024, FOA, one of the nations leading reverse mortgage lenders, remains optimistic about the total addressable market for home equity-based retirement products and will continue to develop its offerings in 2025.
If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. In addition, the regulatory environment is ever-changing and with it comes increased burdens on the lending industry.
Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. We are going to pursue the investor niche aggressively, meeting very specific realtors.
In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. The brokers were in agreement that recruiting talent and maintaining strong partnerships will be key to not only brand development, but a lasting foundation that will continue post-pandemic. “So
Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Newfi is leading the way in terms of innovation and service for these originations,” Dan Bayer, SVP of non-QM development and strategy, said in a statement.
mortgage sales , where he led distributed retail sales, direct to consumer sales, strategic market business development, community reinvestment strategy and sales support. mortgage sales, Wayman was a division lending executive on the East Coast, which includes the New York, New Jersey and North East Suburban markets.
The announcement also noted that select classes will be led by industry practitioners from MBA member companies, including Success Mortgage Partners , Rocket Mortgage and NFM Lending. The industry is getting the talent developments and potential new students to enter their workforce.
retailers and e-commerce merchants, and every $1 of fraud now costs $3.36, up from $3.13 As origination volumes hit record highs in 2020, Truework’s verification experts saw a spike in fraud in mortgage lending, and expect that trend to continue this year. across U.S. How lenders can prepare for growing fraud threats.
During the 10-minute conversation, Pieklo explores his new focus on developing AFR’s wholesale lending strategy, the competitive landscape of the mortgage market, and the company’s unique approach to differentiating itself from other big names in the wholesale space.
California -based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Before that, Bergjans spent eight years at Caliber Home Loans , including stints as national director of military and veteran lending and as head of retail business development.
Candice McNaught has joined Planet Home Lending , a national mortgage lender, servicer, and asset manager, as senior vice president, business development and strategic initiatives for the distributed retail channel. Were excited to have her onboard as we continue to enhance Planets growth and strategic initiatives,Dubeck adds.
Michael Gevurtz, CEO and Founder, Bluebird Lending This article originally appeared in the February 2025 edition of MortgagePoint magazine, online now. He is experienced in all aspects of real estate ownership, including acquisitions, financing, development, construction management, leasing, and property management.
A customized loan application developed for Angel Oak Home Loans will support both agency mortgage and non-QM lending “for borrowers of diverse financial backgrounds,” said Shane Westra, chief product officer at Simple Nexus.
In an exclusive interview with HousingWire, Kosta Ligris, CEO and founder of Stavvy, explained that the news is the official transition from ICE’s legacy Software Development Kit (SDK), which ICE announced it was transitioning away from during the fall of 2024. ”
Software development company Blue Sage Solutions has launched a new servicing platform that merges loan origination and servicing functions using API-based technology.
These are some of the elements that Medina Cicak, chief commercial officer for Heartland Bank in Australia , and Keira Billot, the bank’s New Zealand -based general manager of retail and reverse mortgages, discussed in an interview with HousingWire s Reverse Mortgage Daily (RMD). Department of Housing and Urban Development (HUD).
Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said. In February, it announced the hiring of James Hecht , former head of production and executive vice president for national retaillending at Newrez , as its CEO. .” According to Scotsman Guide , Potempa was the No.
It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. “The year over year.
to Acra Lending, the company has also launched a new jumbo prime program. HousingWire: Why did you develop the Jumbo Prime program? Keith Lind, Acra Lending executive chairman and president. Keith Lind: This specific program has been developed to meet the needs of customers in today’s environment.
OneTrust Home Loans , a direct competitor of Newrez’s retail mortgage business, conspired with James Hecht, former Newrez executive vice president for national retaillending, to orchestrate the termination of several Newrez executives and have them join OneTrust, according to the suit filed Feb. 21 in the U.S.
In this new role, Winokur will work to increase the company’s emphasis on diverse forms of nonqualified mortgage (non-QM) educational resources.Prior to joining CMS, Winokur served as chief marketing officer at Angel Oak Lending and was a 2022 HousingWire Marketing Leader. It is licensed to lend in 48 states.
Jakes, a prominent Black minister who leads a Dallas-based megachurch, will focus on initiatives including affordable housing, small business development and financial education. The partnership represents Wells Fargo’s largest minority home lending and development initiative to date. The partnership with T.D.
The California-based retail lender has set a target of becoming a top-10 lender in the markets in which it has a presence, which would give it about 2% in overall market share. The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. It won’t be easy.
New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. In addition, the company’s CEO, Peter Norden, will act as executive advisor to CMG’s retail division to ensure a successful transition. mortgage lender by volume last year.
CMG Home Loans , the retaillending division of CMG Financial , announced on Tuesday the appointment of Kari Van Kleef to the position of reverse mortgage operations manager. CMG has already proven that we’re committed to developing the Reverse space, as proven by our growth and addition of industry veterans like Kari.”
The Blueprint Builder features more than 60 third-party integrations, allowing lending teams to connect with other pieces of their workflow, from credit and verifications to pricing and disclosures. Wells Fargo -backed mortgage fintech Maxwell rolled out a point-of-sale (POS) feature that offers tailored workflows and integrations.
Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. increase compared to 2020.
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