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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. It began 2021 in 14 markets and is now in 70.
Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. Revolution, on the other hand, has been expanding its footprint by scooping up top loanofficers in local markets.
Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. Presented by: Sutherland.
California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. The Nationwide Multistate Licensing System (NMLS) shows that Michigan-based brokerage firm Next Door had 61 sponsored loanofficers as of Thursday, along with four branches in Arizona, Nevada, Ohio and Texas.
EVP, Retail Lending. Alterra Home Loans. Senior LoanOfficer. Supreme Lending. VP, Lending Support. The post Presenting HousingWire’s 2021 Class of Rising Stars appeared first on HousingWire. Manager, Government & Industry Relations. Genworth Mortgage Insurance. Malte Kramer. Matt Garcia.
Frame challenges as opportunities: Every challenge in the market presents an opportunity for growth. When you provide valuable insights, you position yourself as a trusted advisor, reinforcing their confidence in you. Reframe the narrative to highlight how current market conditions can benefit clients in the long term.
HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. HousingWire: Given the recent news about a few non-QM lenders shutting down, some loanofficers might be hesitant about working with non-QM.
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.
And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Home equity line of credit (HELOC) and home equity loan originations increased 50% in 2022 compared to two years earlier, according to the Mortgage Bankers Association ’s Home Equity Lending Study.
Multigenerational housing, once a rarity, is now becoming commonplace and reshaping not just how we live, but also how we lend and borrow. Imagine a young couple, burdened by student loan debt, and discouraged by the competitive housing market. Amid the whirlwind of economic forces impacting the housing market, one trend stands out.
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. Presented by: Polly.
If you take the temperature of how loanofficers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loanofficer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry. Presented by: Black Knight.
Mortgage Coach , a mortgage platform that enables lenders to educate borrowers with home loanpresentations, announced that its platform will be integrated with Insellerate, a customer relationship management (CRM) platform.
The latest results from the Federal Reserve Board’s Senior LoanOfficer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021.
Braheem, former co-founder of Loan Toolbox — an online resource for training, tools, support and coaching — launched The Loan Atlas, a mortgage coaching platform, earlier this year with mortgage executives and top loanofficers joining as faculty members.
Michael Brennan, president of Movement, said Waggoner can empower loanofficers with the tools they “need to win.”. “I’m excited to translate this vision into transformational action across our technology platform by putting the best tools in the hands of our loanofficers,” Waggoner said in a statement. .
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?
The watchdog agency found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. The lender’s offices were concentrated in white neighborhoods, and nearly all of its loanofficers were white.
Presented on Oct. The Future of Lending is here Today. Presented on Oct. In a call to all mortgage executives and loanofficers, these two speakers are looking to address the way most lenders and loanofficers do business. Presented on Oct. Presented on Oct.
Jodi Mosiello, chief operating officer at RealFi, wrote in the email to employees, which was reviewed by HousingWire, that the company found itself in “unprecedented circumstances.” ” “Unfortunately, at the present time, RealFi does not have the funds to pay the monies owed to its employees,” Mosiello wrote.
The non-QM demand for loans is very healthy,” Acra Lending CEO Keith Lind said. “We Another plus for non-QM lending has been the volatility in the banking sector. “I More than a 20% net share of banks reported having tightened standards on non-QM jumbo residential loans (21.6%) and QM jumbo loans (21.4%), per the survey.
“Credit card, auto and student loan debt are currently at all-time highs, and so it is not surprising that debt consolidation is the fastest-growing category in home equity lending,” FirstClose chief product officer Ramiro Castro said in a statement.
Mortgage Coach, founded in 2009 and based in California, offers an interactive borrower education platform that lets loanofficers guide borrowers through a visual presentation of their loan options. This will enable borrowers to view accurate, side-by-side home loan comparisons, Mortgage Coach and Sales Boomerang said.
And it seeks to expand the number of available loanofficers and strategic development tools to continue building on the momentum that company executive say they’re seeing in the space. Now they’re asking, “How can I fold this into my conversation, my presentation, when I’m meeting with my B2B clients?”
Kevin Peranio, left, of Paramount Residential Mortgage Group, and Candice McNaught of Supreme Lending lead a panel discussion during the HousingWire IMB Summit in Dallas on Oct. Mortgage industry leaders caution that it won’t provide a life-saving boost for originators, but it does present strategic opportunities.
The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. Federal officials said similar banks generated five times as many loan applications from prospective Black and Latino home buyers as Lakeland.
In this article, I’ll highlight just a few of the biggest trends I believe will impact the way consumers interact with mortgages in the near-to-present future. #1 With smarter and faster data, a personalized service experience is key for the future of lending. #2 Presented by: Snapdocs. 1 Personalization. 2 Digital adoption.
Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The company will be headquartered in Santa Ana, California, Stearns said, home of Kind Lending. Presented by: SimpleNexus. The Mobile “Must-Haves” Reshaping Mortgage Technology.
In short, their AI platform, which is built on aggregated loan data from its network, allows loanofficers, processors and underwriters to offload manual, arduous tasks. Clients include Credit Union of Colorado , Texas Lending and JMAC Lending. Presented by: Sutherland. mortgage market.
Editor in Chief Sarah Wheeler sat down with Christos Bettios, chief information officer at NFM Lending , to talk about the company’s private, proprietary GPT that is making his whole team more efficient. And we have 500 loanofficers that are on the street every day and I can always go to them for ideas.
But it becomes a stronger presentation when you’re presenting different loan options. One of the loan options that Cory said makes the reverse mortgage easier to describe to potential partners is the Home Equity Conversion Mortgage ( HECM ) for Purchase (H4P). I think we’ve missed that over the years.
If you’re a mortgage loanofficer with a decade of experience in the industry, you have likely spent over 80 hours taking continuing education courses. Tricky situations can arise in mortgage lending, especially when navigating less-common products or originating non-agency loans.
Roberts and thousands of other loanofficers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. There’s just more buyers than there are sellers,” added Steven Grossman, chief strategic officer at NJ Lenders.
About 39% of 210 senior mortgage executives representing 189 lending institutions said cost-cutting was the most important agenda item, the first time that has happened since 2017, according to Fannie Mae ‘s mortgage lender sentiment survey. billion in loan origination volume in 2021.
Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. This role offers me a platform to be more than just a loanofficer,” Gatling said in a statement.
” Republic collapsed after it failed to raise $75 million in capital from investors and exited the mortgage lending space. billion in loans. In a presentation last year, the bank said it “had aggressive rates, higher risk, and lower risk-adjusted rates of return than other asset classes.”
For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. The lender and LO can make or break the transaction.” Fannie Mae, Freddie Mac and the U.S.
First, mortgage lending is highly volatile. It also makes it difficult for lending teams to staff appropriately for volume fluctuations. RS: If there is one thing the pandemic exposed, it’s that the mortgage lending industry is heavily reliant on its processes. We expect 2020 – 2021 to be the sixth in the series.
The true cost of redlining Lenders need to carefully evaluate their lending strategies to ensure that they are not unintentionally practicing redlining by neglecting MMCT and LMI neighborhoods, or they may face millions in penalties. Adapting to meet the needs of an evolving homebuyer pool is vital to success in mortgage lending.
Presented by: iEmergent. The CFPB found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. Empowering Lenders to Increase Homeownership with Opportunity Data.
Presented by: WFG. He explained that as consumers use the tool to prepare their finances to get a mortgage, loanofficers will also be able to see at a glance if the consumer is ready, simplifying the mortgage application process. WFG reports its highest volume months ever during Q2 and Q3 of 2020.
Kudos to the LoanOfficers who have found a way to transition from the refinance boom of 2020 — 2021 and into the purchase market of 2022. Brush up on your company’s lending guidelines or dive into market conditions and economic data that drives your market. To the LoanOfficers still standing – I salute you.
The new product is fully integrated into loan origination systems, like ICE Technology’s Encompass and MeridianLink. According to the company, wholesale lenders and their TPO partners are looking for strategic solutions to streamlining workflows, improving pipeline management and tracking, and implementing consistent engagement.
A few short months after Shant Banosian became Guaranteed Rate ’s first loanofficer to originate $1 billion in a year , another Guaranteed Rate loanofficer has joined that exclusive club. Presented by: CoreLogic. Cohen, who funded $639 million in 2019, ranked second in the U.S. year-over-year nationally.
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