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With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders. I mean we’re talking up to 30 years,” Nichols said.

Retail 364
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How JVM Lending plans to expand without any loan originators

Housing Wire

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
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Legend Lending chief innovation officer on digitization and the importance of a human element in lending

Housing Wire

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. HousingWire: When you were selected for HW Insiders in 2019 you were the National Support and Training Director at Mid America Mortgage. In April of 2022, the retail division of Mid America Mortgage, Inc.

Lending 308
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Legend Lending chief innovation officer on digitization and the importance of a human element in lending

Housing Wire

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. HousingWire: When you were selected for HW Insiders in 2019 you were the National Support and Training Director at Mid America Mortgage. In April of 2022, the retail division of Mid America Mortgage, Inc.

Lending 298
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What mortgage lenders need to know about wholesale

Housing Wire

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. HousingWire: What role has wholesale lending historically played in the mortgage ecosystem?

Mortgage 342
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HUD dings Movement Mortgage for alleged fair housing violations

Housing Wire

NCRC alleged the Fort Mill, South Carolina-based retail lender discriminated against Black and Hispanic people seeking mortgages in the Seattle-Tacoma area. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019. further impacts the number of approvals in majority-minority census tracts.”

Mortgage 386
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Lower debuts white label mortgage platform

Housing Wire

While launching an in-house mortgage lending operation has been a complex undertaking for many businesses, Lower says its new platform will allow partner companies to offer customers a full menu of home financing options and expand their lending footprint to more than 93% of the U.S. population. Lower originated $4.19

Mortgage 352