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Jim Linnane tapped to lead retail mortgage lending at Flagstar

Housing Wire

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. “We’re excited to have him on board and look for positive developments with Jim at the helm of Flagstar’s distributed retail operation.”

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Michael Saleh leaves Rocket to launch brokerage firm Zoom Home Lending

Housing Wire

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. Saleh said he was leading between 250 and 300 people when he left Rocket in mid-May.

Lending 441
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NYCB confirms cuts to retail mortgage channel after acquiring Flagstar

Housing Wire

(NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We The acquisition also diversifies NYCB’s portfolio with warehouse lending business, commercial and industrial loans, commercial real estate loans and residential mortgage loans.

Retail 403
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Driving Mortgage Innovation: How AI and digital lending are transforming the industry

Housing Wire

If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. In addition, the regulatory environment is ever-changing and with it comes increased burdens on the lending industry.

Lending 439
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Sprout Mortgage taps Wells Fargo veteran to lead retail

Housing Wire

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Sprout hired former Wells Fargo executive Michael Johnson to expand Sprout’s consumer and retail sales channel, the company said Tuesday.

Retail 388
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Angel Oak Home Loans announces exit from retail channel

Housing Wire

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 includes an acquisition of Angel Oak Home Loans’ brick-and-mortar retail offices and associated salesforce.”. Details of the deal were not disclosed. .

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Guaranteed Rate to acquire Stearns Lending

Housing Wire

In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.” The post Guaranteed Rate to acquire Stearns Lending appeared first on HousingWire.

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