Housing Wire

NOVEMBER 9, 2022

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. Charting the loan officer exit. Andrew Rhodes, Sr.

Loan Officers 434

Loan Officers Mortgage Retail Finance 434

Housing Wire

APRIL 11, 2024

California-based multichannel mortgage lender CMG Financial announced on Thursday that it acquired Norcom Mortgage ’ s retail assets, expanding its operations in the Northeast with the addition of 25 branches from Maryland to Maine. which had 142 sponsored loan officers and 41 active branches as of April 11.

Retail 386

Retail Loan Officers Realtors Mortgage 386

Housing Wire

AUGUST 14, 2024

Planet Home Lending confirmed on Tuesday the acquisition of certain retail assets from Axia Home Loans , describing the transaction as an opportunity to expand its operations in the Western, Northwestern, and Midwestern markets. s origination staff and branches in the retail space. in the first half of 2024, with $8.38

Retail 360

Retail Lending Loan Officers Finance 360

Housing Wire

MARCH 15, 2021

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.

Lending 402

Lending Retail Mortgage Loan Officers 402

Housing Wire

MARCH 6, 2023

struck a deal to acquire the retail division of Homebridge Financial Services , the companies announced on Monday. CMG Mortgage, which claims it originated more than $19 billion in 2022, said the M&A deal seeks to increase its footprint on the retail lending business. California-based CMG Mortgage, Inc.

Retail 389

Retail Lending Technology Mortgage 389

Housing Wire

JUNE 5, 2023

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. Revolution, on the other hand, has been expanding its footprint by scooping up top loan officers in local markets.

Loan Officers 380

Loan Officers Mortgage Lending Retail 380

Housing Wire

FEBRUARY 7, 2023

The company has 39 active loan officers across its retail branches, according to Modex data. By joining Guild, Legacy loan officers can offer additional mortgage products and specialized loan programs. The distributed retailer’s volume slipped to $2.7 Terms of that deal were also not disclosed.

Retail 397

Retail Mortgage Loan Officers Technology 397

Housing Wire

SEPTEMBER 7, 2023

The Atlanta-based lender has fully exited the retail channel, a change in strategy the company has been preparing for over the past few months. EPM’s CEO Eddy Perez had previously shared plans with HousingWire to double down on wholesale while scaling down its retail footprint. It’s all about the consumer. EPM originated $1.05

Retail 406

Retail Loan Officers Business Lending 406

Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. 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.

Retail 360

Retail Mortgage Loan Officers Lending 360

Housing Wire

JUNE 20, 2024

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Each LO is closing 12 loans per month with an eventual goal of 15 to 20.

Lending 447

Lending Brokerage Human Resources Real Estate Agent 447

Housing Wire

MAY 22, 2024

The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac.

Retail 389

Retail Tools Lending Technology 389

Appraisal Buzz

JUNE 20, 2024

Planet Home Lending Area Sales Manager Tom Reber National mortgage lender and servicer Planet Home Lending has hired Tom Reber as Area Sales Manager in Jacksonville, Florida. Reber’s Jacksonville team will include Mortgage Loan Originators Allen Lewis and Jeromy Peters, and Loan Officer Assistants Nicole Crabtree and Priscilla DeMasi.

Lending 394

Lending Loan Officers Retail Finance 394

Housing Wire

MARCH 16, 2022

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. That means that they get more product options.

Retail 386

Retail Loan Officers Brokerage Technology 386

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We

Retail 364

Retail Mortgage Loan Officers Marketing 364

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. “We still have retail, but we do believe that wholesale has the longest runway of growth and opportunity for us.” “Wholesale is growing. It’s a shift that is happening in the market.

Retail 362

Retail Loan Officers Landlords Lending 362

Housing Wire

JANUARY 24, 2022

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.

Lending 355

Lending Retail Loan Officers Business 355

Housing Wire

MAY 22, 2024

Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. The technologically advanced mortgage platform empowers loan officers to serve both customers and business partners with ease and excellence.

Development 358

Development Lending Business Loan Officers 358

Housing Wire

JANUARY 27, 2023

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. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 384

Lending Real Estate Agent Loan Officers Retail 384

Housing Wire

OCTOBER 31, 2024

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 loan officers as of Thursday, along with four branches in Arizona, Nevada, Ohio and Texas.

Lending 403

Lending Mortgage Brokerage Loan Officers 403

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 423

Lending Mortgage Loan Officers Government 423

Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The transaction follows Angel Oak Home Loans slashing 15% of its workforce, or 57 employees, in October. Details of the deal were not disclosed. . The lender originated $2.32

Retail 317

Retail Loan Officers Investors Lending 317

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart.

Lending 357

Lending Retail Loan Officers Mortgage 357

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .”

Loan Officers 415

Loan Officers Mortgage Retail Lending 415

Housing Wire

MAY 29, 2024

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. Tammy is stepping in with Kind Lending to handle some of their strategic initiatives and she is partnering with them to help grow their vision.

Lending 310

Lending Loan Officers Retail Legal 310

Housing Wire

JANUARY 4, 2023

After Finance of America Companies closed its forward mortgage origination unit in October, a total of 21 FoA retail branches transitioned to Go Mortgage, said Steven Reich, a division president at Go Mortgage and former executive at FoA, in an interview with HousingWire. “Refis are the easier product of the industry,” Reich said. “We

Retail 475

Retail Mortgage Construction Loan Officers 475

Housing Wire

SEPTEMBER 14, 2020

In fact, the changes we’ve seen since the advent of the global pandemic are significant enough to serve as a catalyst that will drive all lending digital. The trends and lending requirements I’ve highlighted below became important long before the coronavirus made it to the U.S. Peering into the future of lending.

Lending 468

Lending Mortgage Technology Business 468

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. Expected to close around Oct. billion in assets, the companies claim.

Lending 296

Lending Retail Legal Loan Officers 296

Housing Wire

MAY 7, 2024

The increased awareness around these benefits have positioned brokers to be the obvious choice when it comes to consumer mortgage needs, keeping them competitive with large banks and retail lenders. Second, nearly 20,000 loan officers moved into the wholesale channel in 2023. So, what exactly does this mean for the industry?

Retail 454

Retail Marketing Loan Officers Government 454

Housing Wire

NOVEMBER 21, 2023

In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint. CMG makes its services and products available through wholesale and correspondent lending as well. 21, NMLS showed the lender had eight loan officers and 13 branches.

Loan Officers 372

Loan Officers Retail Lending Renovations 372

Housing Wire

JULY 15, 2024

Loan originators in today’s mortgage market have weathered significant challenges. They’ve endured a major drop in volume, a rapid rise in rates, and uncertainty surrounding realtor commission settlements and their impact on referral partners. If you are still in the game, you’re already demonstrating resilience and adaptability.

Loan Officers 344

Loan Officers Clients Design Tools 344

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Other cases Another lawsuit recently filed by UWM was against Madison Atrina LLC , doing business as District Lending.

Contracts 448

Contracts Loan Officers Lending Retail 448

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

Loan Officers 468

Loan Officers Retail Business Mortgage 468

Housing Wire

DECEMBER 12, 2023

PrimeLending , a Texas-based retail mortgage bank, added 12 new loan originators as it attempts to grow market share within its existing Texas footprint. In June, the lender brought on 100 loan officers and hired 33 additional LOs based in Texas since that period. million) and Hugo Ortiz-Pulido ($21.21

Loan Officers 431

Loan Officers Retail Lending Mortgage 431

Housing Wire

OCTOBER 18, 2023

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. “There’s definitely a shift and while we know there is a lot of movement going on with people losing jobs because of mergers or closures, a certain percentage are moving to brokerage instead of another retail company.”

Retail 520

Retail Loan Officers Brokerage Mortgage 520

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex.

Retail 416

Retail Mortgage Lending Renovations 416

Housing Wire

MARCH 5, 2024

John Abraham, former top-producing mortgage loan officer at Caliber Home Loans /NewRez , has joined The Money Store. The Money Store boasts a nimble lending platform, transparent loan process and highly competitive rates. Data shows that the lender has 28 branches and 100 active loan officers.

Loan Officers 382

Loan Officers Retail Lending Mortgage 382

Housing Wire

APRIL 17, 2024

Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in. In FCM’s case, this also includes interim servicing.

Business 419

Business Loan Officers Mortgage Lending 419