Housing Wire

MARCH 30, 2023

A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others. “As mortgage lender by volume last year.

Retail 400

Retail Loan Officers Legal Technology 400

Housing Wire

JUNE 30, 2021

The lender’s offices were concentrated in white neighborhoods, and nearly all of its loan officers were white. The CFPB also found that loan officers sent internal emails “containing racist and derogatory content.”. In the lender’s direct marketing and open house materials, the models were white.

Loan Officers 448

Loan Officers Lending Open Houses Legal 448

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 395

Loan Officers Real Estate Legal Lending 395

Housing Wire

MAY 6, 2024

According to Inside Finance Mortgage (IMF) estimates, Fairway ranked as 13th-largest U.S. As of Monday, the company had 2,824 sponsored loan officers and 860 active branch locations, per the Nationwide Multistate Licensing System (NMLS). Last year, the group funded a reported 291 loans for an aggregate volume of $158.8

Retail 389

Retail Loan Officers Lending Legal 389

Housing Wire

NOVEMBER 10, 2022

Houlihan Lokey served as financial advisor and Pierce Atwood served as legal advisor to Mortgage Network. Troutman Pepper was Movement’s legal advisor in the M&A transaction. “We Movement says it employs more than 1,500 loan officers nationwide and has over 550 branches.

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

SEPTEMBER 23, 2024

A spokesperson for CCM said the company “does not comment on legal matters.” higher than the same period in 2023, according to Inside Mortgage Finance. Per the Nationwide Multistate Licensing System , the company had 4,204 sponsored loan officers and 710 branches as of Monday. CCM was the 10th-largest U.S.

Mortgage 398

Mortgage Legal Loan Officers Retail 398

Housing Wire

AUGUST 10, 2022

“We are well positioned to educate consumers about the loan process and help them overcome whatever challenges that may arise. Panorama offers platforms for human resources, finance, technology, legal and compliance services to its group of lenders.

Lending 418

Lending Human Resources Mortgage Loan Officers 418

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

Real Estate Agent 432

Real Estate Agent Loan Officers Real Estate Agents 432

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. Presented by: Selene Finance.

Lending 360

Lending Finance Loan Officers Legal 360

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender. million , down from $26.5

Business 434

Business Loan Officers Law Mortgage 434

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. Anthony Hsieh, founder and CEO of loandepot. billion in business.

Loan Officers 392

Loan Officers Contracts Legal Business 392

Housing Wire

JANUARY 25, 2024

From at least August 29, 2022 to December 2, 2022, individuals who were not licensed as loan officers (LOs) in Connecticut acted as LOs by taking residential mortgage loan applications , soliciting Connecticut borrowers for mortgages and offering or negotiating terms of mortgages, according to the order issued earlier this month.

Loan Officers 358

Loan Officers Mortgage Finance Lending 358

Housing Wire

JULY 29, 2024

billion originated from January to June, down 6% year over year, according to Inside Mortgage Finance (IMF) estimates. The company had 1,615 sponsored loan officers and 219 active branches as of Monday, per the Nationwide Multistate Licensing System (NMLS). loanDepot is the 16th-largest U.S. mortgage lender with $10.3

Mortgage 340

Mortgage Loan Officers Legal Finance 340

Housing Wire

MARCH 28, 2024

According to the DOL, they must pay $35,000 in emotional damages and the legal fees of the two employees who reported consumer fraud concerns. The main strategy was to tap high-volume loan officers in targeted locations. A former senior vice president and two company managers were also held personally accountable in the case.

Human Resources 384

Human Resources Legal Fees Loan Officers Retail 384

Housing Wire

FEBRUARY 15, 2024

The legal battle follows the creation of a Facebook group called “Rocket Pro TPO vs UWM,” which UWM says Walker founded on Oct. mortgage lender, originating about $108 billion in 2023, per Inside Mortgage Finance estimates. UWM filed a lawsuit in a U.S. district court in Michigan on Wednesday. UWM is the largest U.S.

Mortgage 320

Mortgage Legal Advertising Loan Officers 320

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said. Fannie Mae, Freddie Mac and the U.S.

Buyers 398

Buyers Agents Loan Officers Real Estate 398

Housing Wire

APRIL 18, 2024

A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment.

Loan Officers 422

Loan Officers Human Resources Contracts Mortgage 422

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. VanFossen said there are talks about the “mortgage industry figuring out methods to finance the buyers’ real estate agent commission.” “As

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

DECEMBER 15, 2023

It’s the latest salvo in a legal battle that started after the three of Movement’s veteran sales executives — Deran Pennington, Matt Schoolfield and Chris Shelton — left for Summit in July. Movement also accuses Scrima of creating a scheme to divert its customers to Summit through its “resigning loan officers.”

Legal 382

Legal Loan Officers Retail Business 382

Housing Wire

SEPTEMBER 25, 2024

loanDepot’s focus is on the sales side, attracting experienced loan officers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. In some instances, this approach backfired, leading to legal disputes between lenders and producers that can drag on for years. “We’ve

Mortgage 403

Mortgage Loan Officers Retail Training 403

Housing Wire

AUGUST 31, 2022

The lender has roughly 300 mortgage loan officers and 1,800 team members and does in-house processing and underwriting. According to Inside Mortgage Finance estimates, Cornerstone, independently held, is a top-50 retail mortgage lender. was the financial advisor and Holland & Knight LLP the legal counsel.

Lending 296

Lending Retail Legal Loan Officers 296

Housing Wire

MAY 29, 2024

According to the Nationwide Multistate Licensing System (NMLS), Kind Lending had 87 sponsored loan officers and 23 active branches as of Wednesday. billion in mortgages from January to March, more than double (+104%) its volume during the same period in 2023, according to Inside Mortgage Finance. The lender originated $1.26

Lending 310

Lending Loan Officers Retail Legal 310

Housing Wire

JUNE 5, 2024

Andrews also previously worked in business development, sales and marketing roles at Hometown Lenders , Finance of America , Veristone Capital , Yarrow Bay Mortgage and Merit Financial. In his new position with loanDepot, he will be responsible for driving market share growth in Seattle and the surrounding areas.

Loan Officers 344

Loan Officers Legal Development Mortgage 344

Housing Wire

JANUARY 30, 2023

According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022. year over year, according to Inside Mortgage Finance estimates. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division.

Loan Officers 455

Loan Officers Retail Contracts Mortgage 455

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.” Freedom had to pay a $1.75

Brokerage 407

Brokerage Realty Real Estate Loan Officers 407

Housing Wire

SEPTEMBER 23, 2024

San Diego-based Smartfi Home Loans , which is primarily active as a wholesale lender in the reverse mortgage space and is actively building a retail division that offers reverse mortgage products, has hired industry veteran Martin Lenoir as its new chief marketing officer.

Marketing 381

Marketing Retail Advertising Loan Officers 381

Housing Wire

AUGUST 17, 2023

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.

Realty 369

Realty Mortgage Brokerage Real Estate 369

Housing Wire

MARCH 22, 2021

I discerned, frankly, that these companies all had good legal counsel and would address their reply to this very unusual policy proclamation in their own way. Without question, the vibrant state of the U.S. mortgage industry drives the best in consumer options and experience. But as time has passed, I simply cannot let it go.

Business 539

Business Retail Mortgage Lending 539

Housing Wire

JANUARY 6, 2023

The lawsuit was filed on December 23 in the Superior Court of the State of California for the County of Orange by about 40 former loanDepot employees, including loan officers, processors, underwriters, loss mitigation and foreclosure specialists. The company produced $47.4

Loan Officers 437

Loan Officers Law Mortgage Real Estate 437

Housing Wire

APRIL 1, 2024

billion in mortgage loans in 2023, according to Kortas. As of Monday, the company had 2,391 sponsored mortgage loan officers, per the Nationwide Multistate Licensing System (NMLS). NEXA’s businesses America’s largest mortgage brokerage, NEXA originated $6.29 But that’s not the case for the aviation business.

Brokerage 366

Brokerage Loan Officers Business Legal 366

Housing Wire

OCTOBER 30, 2024

The firm offers “smart loans” using artificial intelligence and developed a cloud-based portal, LoanFlow , that aims to give mortgage brokers and loan officers the ability to originate loans anytime, anywhere.

Landlords 396

Landlords Loan Officers Lending Contracts 396

Housing Wire

JUNE 17, 2024

According to Inside Mortgage Finance (IMF) estimates, Chicago-based Guarantee Rate was the ninth-largest mortgage lender in the country in the first quarter of 2024. The lender originated $7 billion in loans from January to March, which held steady compared to the same quarter in 2023.

Human Resources 356

Human Resources Law Loan Officers Legal 356

Housing Wire

FEBRUARY 6, 2023

billion in mortgages, according to Inside Mortgage Finance. More than 17,000 loan officers joined the mortgage broker channel this year, with about half of them coming from the retail channel, Ishbia told analysts in its latest third quarter earnings. The trend continued into the fourth quarter, during which UWM originated $25.75

Mortgage 309

Mortgage Loan Officers Retail Legal 309

Housing Wire

DECEMBER 18, 2023

Colgate Selden is an attorney, a partner at SeldenLindeke and has over 20 years of regulatory legal experience in government and as in-house and outside counsel, and also served as a founding member of the Consumer Financial Protection Bureau (CFPB) as senior counsel in its Office of Regulations. They [may] have to do it,” he said. “I

Mortgage 418

Mortgage Business Legal Real Estate 418

Housing Wire

SEPTEMBER 15, 2020

business advisory firm in real estate, mortgage finance, digital mortgage, banking and capital markets. Borrowers and loan officers want and need remote capability to maintain social distancing and continue to transact business,” Madocks said.

Business 468

Business Law Real Estate Investors 468

Housing Wire

AUGUST 25, 2023

Through its origination business, AmeriFirst kept its business purpose lending (BPL), providing four products, including debt-service coverage ratio (DSCR) loans, bridge financing, investor construction loans and residential transition loans (RTLs).

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. Seely joined Guild in 2021 when the California-based lender paid $196.7 million to acquire Residential Mortgage Services Holdings (RMS), a Maine-headquartered retail lender of which Seely was president and CEO.

Retail 394

Retail Contracts Loan Officers Mortgage 394