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The playbook for a rookie loan officer: What I’m telling my son before his first year

Housing Wire

Entering the mortgage industry as a loan officer 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.

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FOA lowers rate, expands HomeSafe Second reverse mortgage into new states

Housing Wire

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.

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NEXA to give 100% of commission split to loan officers 

Housing Wire

NEXA Mortgage , the largest mortgage brokerage firm in the U.S., will pay its loan officers 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 loan officers 220 basis points (bps) out of 275 bps on most loans.

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Reverse mortgage leaders on partnering with the forward side in 2025

Housing Wire

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.

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Knock reverses course on loan officer pay cut

Housing Wire

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers 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.).

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Revolution Mortgage snags top loanDepot loan officers

Housing Wire

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.

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3 Can’t-miss HW Annual panels for new mortgage loan officers

Housing Wire

Did you just begin your career as a mortgage loan officer 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. . Loan officers can get all the mortgage information they need. HW Annual is the place for you.