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.

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Retail Loan Officers Realtors Mortgage 386

Housing Wire

JULY 30, 2024

San Diego-based Smartfi Home Loans , which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I You’re doing a disservice to everyone in that scenario.

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Retail Loan Officers Lending Technology 439

Housing Wire

OCTOBER 17, 2023

Mortgage tech firm Blend has launched a lower-cost version of its mortgage suite for retail independent mortgage banks, the company announced this week. It will also serve loan officers on-the-go with a mobile application, Nima Ghamsari, C.E.O of Blend told HousingWire. “The

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Retail Loan Officers Inventory Mortgage 424

Housing Wire

DECEMBER 17, 2024

The industry fears AI will ultimately replace everyone, from operations to loan officers. As a loan officer , I am not losing any sleep, and here is why you should not, either. Call centers pay their loan officer vastly lower amounts than a broker or retail lender makes. Absolutely not.I

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Loan Officers Clients Technology Mortgage 308

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.

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Retail Mortgage Loan Officers Technology 397

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.

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Loan Officers Mortgage Lending Retail 380

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.

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Retail Lending Technology Mortgage 389

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release. John Hummel Prior to joining U.S.

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Retail Lending Loan Officers Business 355

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

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Retail Loan Officers Business Lending 406

Housing Wire

NOVEMBER 10, 2022

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . The transaction, confirmed by the companies, is a step to boost Movement’s presence on the East Coast amid shrinking loan origination volumes.

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Retail Mortgage Loan Officers Legal 370

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.

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Retail Lending Loan Officers Finance 360

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

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. That’s 2.4

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Retail Tools Lending Technology 389

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.

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Retail Loan Officers Brokerage Technology 386

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.

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Retail Loan Officers Landlords Lending 362

Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. The retail channel volume decrease of 15.7% effectively “masked” a gain of 3.9%

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Retail Mortgage Business Loan Officers 340

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.

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Loan Officers Clients Design Tools 344

Housing Wire

JANUARY 11, 2023

For most of 2022, UWM had an aggressive pricing strategy in place to gain market share and attract loan officers from the retail to the wholesale channel. With the Game On initiative, the lender slashed prices across all loans by 50 to 100 basis points. . ” .

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Loan Officers Retail Real Estate Agent Government 472

Housing Wire

JANUARY 5, 2024

Top-10 mortgage lender Guaranteed Rate has filed a lawsuit against retail rival New American Funding over poaching. But this isn’t your standard poaching lawsuit: G-Rate alleges that NAF has wooed at least 30 employees since early 2023 via illegal loan officer compensation practices.

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Loan Officers Retail Law Business 463

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.

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Loan Officers Retail Business Mortgage 468

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?

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Retail Marketing Loan Officers Government 454

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. .

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Loan Officers Mortgage Retail Lending 415

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

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.”

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Retail Loan Officers Brokerage Mortgage 520

Housing Wire

FEBRUARY 14, 2024

is expected to expand the retail lender’s presence in Western states and also bring in expertise with builder products, Guild CEO Terry Schmidt said in an exclusive interview with HousingWire. With the acquisition of Academy, Guild will be onboarding nearly 200 branches and 1,000 new employees, about 600 of which are loan officers.

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Retail Mortgage Loan Officers Construction 427

Housing Wire

MARCH 30, 2023

New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. In addition, the company’s CEO, Peter Norden, will act as executive advisor to CMG’s retail division to ensure a successful transition. mortgage lender by volume last year.

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Retail Loan Officers Legal Technology 400

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

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint.

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Loan Officers Retail Lending Renovations 372

Housing Wire

JANUARY 7, 2022

Pink slips arrived for nearly three dozen loan officers at Wyndham Capital Mortgage on Wednesday, HousingWire has learned. The consumer direct mortgage lender, headquartered in Charlotte, North Carolina, said it laid off 35 LOs across its offices in Dallas, Charlotte, Salt Lake City, Kansas City, and Phoenix.

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Mortgage Loan Officers Retail Advertising 430

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.

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Loan Officers Retail Lending Mortgage 382

Housing Wire

JANUARY 12, 2022

Guaranteed Rate will continue to thrive and win market share by having a laser focus on leveraging our industry-leading purchase platform augmented by the best loan officers in the business,” Guaranteed Rate CEO Victor Ciardelli wrote in an email to brokers that HousingWire reviewed.

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Retail Loan Officers Best Value Business 397

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm. .’

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Loan Officers Brokerage Retail Construction 446

Housing Wire

SEPTEMBER 11, 2023

Roughly 20% of Cliffco’s production comes from the wholesale channel and 80% of origination volume comes from its retail channel – through which it offers GSE, government loans and non-QM products. The lender has about 80 loan officers and aims to hire up to 100 in states.

Loan Officers 389

Loan Officers Agents Retail Technology 389

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. Companies may be struggling in one way or another.

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Loan Officers Marketing Retail Renovations 333

Housing Wire

OCTOBER 17, 2024

. “I was delighted when they reached out as I’ve had my eye on this group for years … they have it all: Techcentric, innovative, cost-effective, amazing culture, truly transparent pricing, engaged leadership and outstanding retail model. It has nearly 300 loan officers and originated about $1.35

Mortgage 386

Mortgage Retail Loan Officers Technology 386

Housing Wire

AUGUST 25, 2022

With the deal, Movement adds the brokerage’s more than $400 million in annual sales volume and 48 employees, including loans officers, support staff and executive members, to serve homebuyers and real estate agents in the Greater Boston Area. . The company announced new hires in the sales executive team in early August.

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Brokerage Mortgage Loan Officers Real Estate Agent 497

Housing Wire

FEBRUARY 13, 2024

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. Representatives at both companies did not immediately reply to a request for comments.

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Mortgage Loan Officers Retail Finance 458