Housing Wire

AUGUST 12, 2024

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. Those of you who have worked with us over the years have seen us operate in a profitable manner, and we will continue to do so with an increased focus on our TPO channel in advance of redeploying retail in the future,” he added.

Retail 452

Retail Mortgage Loan Officers Business 452

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. HousingWire broke the news in early August.

Retail 360

Retail Lending Loan Officers Finance 360

Housing Wire

MARCH 6, 2023

Guaranty Home Mortgage Corporation (GHMC) on Monday announced its expansion with three new licensed retail branches in Tennessee. The expansion is part of the company’s strategy to grow its presence and focus on residential mortgage lending. Dammeyer and Hammett have over 50 years of combined lending experience.

Retail 412

Retail Mortgage Lending Technology 412

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , But it continued to serve retail clients throughout the western U.S. One idea would be a ”builder that wants to add a lending arm,” he added.

Retail 396

Retail Loan Officers Mortgage Lending 396

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 459

Retail Finance Business Home Improvement 459

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. The acquirer works in the retail, wholesale and correspondent channels.

Retail 386

Retail Loan Officers Realtors Mortgage 386

Housing Wire

AUGUST 30, 2024

Mortgage banking executive and industry mergers & acquisitions advisor Rick Roque has taken a new executive position at NFM Lending. Roque will lead NFM’s retail growth strategy as corporate vice president of retail, NFM’s Managing Director Greg Sher announced on LinkedIn on Friday.

Lending 407

Lending Retail Technology Mortgage 407

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

Housing Wire

AUGUST 30, 2022

The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. Founded in 1990, Mountain will continue to serve retail and consumer direct clients throughout the Western United States.

Lending 448

Lending Retail Mortgage Clients 448

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

FEBRUARY 7, 2023

The company has 39 active loan officers across its retail branches, according to Modex data. Clients will also benefit from access to new digital and customer relationship tools that improve every step in the lending experience, including servicing, a Guild strength for decades,” Thompson said in prepared remarks.

Retail 397

Retail Mortgage Loan Officers Technology 397

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

Lending 447

Lending Brokerage Human Resources Real Estate Agent 447

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. With 30 years of experience in retail mortgage banking, Reber is renowned for his ability to drive excellence and build strong teams. “I

Lending 394

Lending Loan Officers Retail Finance 394

Housing Wire

OCTOBER 25, 2023

to suspend retail operations. The Gainesville, Georgia-based lender announced plans to cease retail operations while accepting mortgage locks through Oct. The decision to shut down retail operations comes on the heels of additional mortgage volatility driven by the macro economy, Homestar said in a statement.

Retail 392

Retail Mortgage Government Marketing 392

Appraisal Buzz

OCTOBER 23, 2024

Banks are not willing to lend as much money, and the interest rates on distressed properties are 10 percent,” wrote one survey respondent, explaining why he is bidding on fewer properties. The post Auction Demand Weakens in Q3 as Retail Market Softens first appeared on The MortgagePoint.

Retail 370

Retail Marketing Inventory Development 370

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

SEPTEMBER 17, 2024

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. According to its results, veteran homebuyers who work with a mortgage broker saved an average of $13,600 over the life of their loan compared to working with retail lenders.

Lending 428

Lending Retail Clients Mortgage 428

Housing Wire

SEPTEMBER 5, 2024

Founded in 2001, California-headquartered OCMBC originates in the wholesale , retail and correspondent channels. HousingWire previously reported HomeStar’s decision to suspend its retail operations by the end of 2023 due to mortgage volatility and extreme margin compression. It is licensed in 48 states and the District of Columbia.

Retail 362

Retail Government Mortgage Business 362

Housing Wire

MARCH 21, 2024

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S.

Lending 356

Lending Retail Contracts Construction 356

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. Certainty Home Lending operates under the umbrella of Guaranteed Rate. Headquartered in Chicago , Guaranteed Rate Companies is the second-largest retail mortgage lender in the U.S.,

Development 358

Development Lending Business Loan Officers 358

Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. I have really enjoyed getting to know Next Door Lending’s principals, Doug [Liska] and Jonathon, through this process,” Chen said. As part of the deal that closed Oct.

Lending 403

Lending Mortgage Brokerage Loan Officers 403

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

JANUARY 6, 2025

GVC Mortgage announced the hiring of Jen Peachman as vice president of strategic lending, a move that Peachman confirmed on LinkedIn. ” With more than 20 years of experience in mortgage and financial services, Peachman formerly served as national director of origination sales for Lenders One Mortgage Cooperative.

Lending 334

Lending Mortgage Retail 334

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

Lending 384

Lending Valuation Technology Retail 384

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. Kind Lending, a California-based lender founded by industry veteran Glenn Stearns, is a client of LendArch , a mortgage consulting firm that Richards founded in 2021.

Lending 310

Lending Loan Officers Retail Legal 310

Housing Wire

SEPTEMBER 20, 2024

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 385

Lending Mortgage Technology Tools 385

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

JUNE 17, 2024

loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgage lending operations. Abarca joined loanDepot as an underwriter in 2013 and became vice president of lending operations in 2021. billion in mortgages, down from $5.3 billion in the previous quarter.

Lending 372

Lending Mortgage Tools Development 372

Housing Wire

MARCH 7, 2022

Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services. ” Walmart isn’t the first warehouse-style retailer to offer mortgage products on location. Members can order and receive cooperative solutions without human intervention. .

Retail 488

Retail Mortgage Lending Real Estate 488

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. We look to acquire right-sized, financially solid distributed retail companies.” The financial terms of the transaction have not been disclosed.

Retail 416

Retail Mortgage Lending Renovations 416

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 23, 2024

California -based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Before that, Bergjans spent eight years at Caliber Home Loans , including stints as national director of military and veteran lending and as head of retail business development.

Retail 398

Retail Lending Loan Officers Mortgage 398

Housing Wire

JANUARY 29, 2024

The decision was made because the company believes the retail lenders’ business model negatively impacts consumers, brokers, and the wholesale channel, it claims. 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

FEBRUARY 26, 2024

OneTrust Home Loans , a direct competitor of Newrez’s retail mortgage business, conspired with James Hecht, former Newrez executive vice president for national retail lending, to orchestrate the termination of several Newrez executives and have them join OneTrust, according to the suit filed Feb. 21 in the U.S.

Retail 409

Retail Legal Lending Business 409

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. Similar to consumer awareness, retail LO’s are learning the benefits of being independent.

Retail 454

Retail Marketing Loan Officers Government 454

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president. He left Rocket in the beginning of 2019.

Retail 395

Retail Lending Loan Officers Brokerage 395

Housing Wire

FEBRUARY 21, 2024

Since leaving Guaranteed Rate, Nelson held executive positions at Nations Lending and Movement Mortgage. Jeff Nelson is one of the best mortgage executives in the nation,” Ron Bergum, chief retail growth officer at Guaranteed Rate, said in a statement. 4 retail mortgage lender in the U.S.,

Retail 430

Retail Tools Lending Clients 430