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Entering the mortgage industry as a loanofficer can be both exciting and overwhelming. Start a weekly networking event at a central, affordable location. Final thoughts Success in mortgage sales is not about luck its about discipline, persistence, and strategy.
Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. The interest rate on the loan has been lowered from 9.99% to 9.49%. The new states are Arizona, Nevada, Oregon and Utah.
NEXA Mortgage , the largest mortgage brokerage firm in the U.S., will pay its loanofficers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas. NEXA usually pays loanofficers 220 basis points (bps) out of 275 bps on most loans.
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.
It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loanofficers. Knock loanofficers draw a median salary of about $75,000 a year, according to these company sources. But on Thursday morning, Knock reversed course. Knock does not do refinancings.).
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. Until then the factors we see that will drive existing homeowners to purchase are life events and household formation changes,” Brok noted.
Did you just begin your career as a mortgageloanofficer and need the answers to questions you didn’t even know you had? Check out the agenda, here , for a complete list of panels, keynotes and events. . Loanofficers can get all the mortgage information they need. HW Annual is the place for you.
Add American Neighborhood Mortgage Acceptance Company LLC , doing business as AnnieMac, to the list of mortgage lenders that have recently suffered a data breach from a cyberattack. The type of information affected by this event includes name and Social Security number.” Most of it is conventional (52%) and purchase (75%) loans.
Loan originators in today’s mortgage market have weathered significant challenges. This event is designed to equip you with the tools and insights needed to lead with vision and inspire your teams effectively. Register now for AMPCON and be part of the conversation that’s shaping the future of mortgage banking.
trillion this year, stretching the capacity limits of lenders and everyone else in the housing ecosystem, some mortgage applicants simply haven’t been worth his while. “I I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loanofficer at Draper & Kramer Mortgage in Englewood, Colorado.
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. 1 mortgage company in the country.
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. Sean Shallis is an author and top-producing loanofficer.
26 in Dallas, provided valuable insights into the forces shaping the mortgage and housing markets in 2025. Logan Mohtashami, an expert in the mortgage and housing ecosystem and lead analyst for HousingWire, set the tone with this optimistic message. The HousingWire Economic Summit, held Feb. The worst is behind us. Those who dont?
The mortgage industry has traditionally been dominated by men, and although we have made laudable progress, women in our space still face challenges in terms of pay equity, bias, and advancement. According to zippia.com, of the nearly 240,000 LoanOfficers in the U.S.
If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Much like your car or health insurance, you file a claim when an event occurs, pay any deductibles or co-pays, and the insurance covers the costs of the rest. But mortgage insurance?
The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s leading trade association, is preparing to host its 2024 Annual Meeting and Expo on Sept. The event is typically the largest, most expansive meeting for a wide variety of reverse mortgage professionals. 24-26 in San Diego.
As reverse mortgageloanofficers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgageloanofficer should keep in mind prior to engaging in such advertising campaigns.
1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the bureau. About one in three complaints had to do with borrowers “struggling to pay their mortgage,” of which a portion were specifically related to foreclosures. Reverse mortgage accounted for 1.4%
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
Mortgage rates remained flat following a jobs report on Friday that continued to show a cooling labor market. Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire.
For those of us in the mortgage world, the spring and summer market may be showing some signs of slowing down, and what a ride this market has been. I had a Recruiter contact me the other day, and he mentioned to the average loanofficer that he has been speaking with an average of 1.6
The challenges that higher costs place on carriers, regulators , lenders and consumers has been well documented this year, and the acceleration of extreme weather events has only made things worse. And it raises questions about how more of these events could impact the mortgage industry. That’s no longer the case. “I
Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.
Credit education advocate Sue Buswell , known widely in the mortgage industry for her “Sue Knows the Score” initiative, died unexpectedly this week. This book stands as a testament to her life’s work and the indelible mark she left on the mortgage industry. The book is now being dedicated in her memory.
University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake Droge joins the company as a loanofficer, while Carol Olmos has joined the company as an account executive.
Princeton Mortgage CEO Rich Weidel. When Rich Weidel took over his family-owned lender Princeton Mortgage , the company had funded 11 loans in January of 2018, employed about a dozen people and had zero loanofficers. What was the reaction at Princeton Mortgage to the news? Become a member today.
The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries. In addition, the company has requested the return of commissions paid for loans that were originated but subsequently recaptured. Gifoli served as a loanofficer from May 2021 to October 2021.
The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. million for a purported scheme involving mortgage and title kickbacks.
For mortgage professionals, this presents a chance to think beyond traditional lending practices and become true financial partners for these families. This means providing expert guidance on first-time homebuyer programs, navigating the mortgage process, and exploring a multitude of financing options that align with their goals.
Four months into the new year and conversations among mortgage executives were focused right back on the same issue that always happens after a mortgage boom — LO com p. Three mortgage executives were virtually gathered to talk about the routine topic at the Mortgage Bankers Association’s Spring conference in April.
In the midst of a higher-for-longer mortgage rate environment that is reshaping the landscape of the mortgage industry, the role of a chief marketing officer (CMO) becomes increasingly pivotal as mortgage companies navigate market fluctuations and changing consumer behaviors.
Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.
By late spring of 2020, the loan pipeline at Princeton Mortgage was full. It wasn’t so long ago that mortgage lenders were on top of the world. By the height of the bubble, the industry’s ranks had swelled to about 500,000 workers, according to the Mortgage Bankers Association. Now, we hire for attitude and ability.”.
Talk to any mortgage technologist about the future of the industry and two topics will emerge immediately: big data and smarter automation. Joe Camerieri, EVP Mortgage Cadence. Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used.
During breaks in nearly every televised basketball game, it’s there: Tracy Morgan imploring pensive homebuyers “pretty sure” is not enough, and that they can only be certain about their giant life choice with Rocket Mortgage. The ads are mostly set not in a loanoffice, but a home showing. Join today with an HW+ Membership !
Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.
At the end of August, Guild Mortgage announced a suite of products under the name “ Flex Payment Mortgage ,” which includes Home Equity Conversion Mortgage ( HECM ) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.
While home-buying has been historically seen as difficult, the process is getting a rebrand as loanofficers, real estate agents and industry experts answer the questions that Gen Z (and any generation that won’t willingly admit to using the app) have on TikTok’s platform. Not a member?
There have been multiple reports lately of layoffs within the mortgage industry, but some companies, like American Pacific Mortgage, continue to grow during this difficult time. HousingWire recently spoke with American Pacific Mortgage President Ned Payant about how to build a culture that attracts and retains mortgage talent.
A race is a useful analog for the mortgage business, especially as it relates to the refinance business. It’s amazing how many loanofficers miss this, don’t return the call quickly, and lose their race before it’s even underway. Most experts believe that it’s only a matter of time before mortgage rates come down.
The mortgage process involves many moving pieces and relationships with a variety of stakeholders. The relationship between a loanofficer and a real estate agent is one of the most important pieces of the puzzle, as the two must combine forces to help borrowers achieve their goal of buying a home.
Exponentially increase your loanofficers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loanofficers dearly. Sounds too good to be true, doesn’t it?
Bank Home Mortgage , will speak on a panel titled What Mortgage Tech is Solving Now at HousingWire’s Spring Summit on March 4. Bolstad will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Lisa Patterson, chief originations officer at Homepoint. The post U.S.
Illinois-based mortgage lender Celebrity Home Loans and its parent company Celebrity Financial, Inc. Defendants’ representation that employees were being terminated ‘due to unanticipated events’ was false and misleading. are the target of a class-action-seeking lawsuit. The lawsuit was filed on Feb. Volumes reached $5.9
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