Housing Wire

OCTOBER 2, 2023

Equity Prime Mortgage (EPM), which shifted to the TPO business after exiting its retail channel in the fall, has embarked on a new chapter. BLVR – a marketing and promotional campaign launched by EPM on Monday – aims to reach as many retail loan officers to provide information about the wholesale channel. About 16.8%

Retail 435

Retail Loan Officers Lending Business 435

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. This offering, called Blend IMB Essentials, includes many of the same features of its standard offering for mortgage lenders. of Blend told HousingWire. “The

Retail 424

Retail Loan Officers Inventory Mortgage 424

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

Retail 386

Retail Lending Renovations Construction 386

Housing Wire

SEPTEMBER 5, 2024

Mortgage lender and servicer OCMBC has acquired HomeStar Financial Corp. Founded in 2001, California-headquartered OCMBC originates in the wholesale , retail and correspondent channels. OCMBC, doing business as LOANStream Mortgage , posted $3.56 billion in volume in nonqualified mortgage ( non-QM ) volume, placing No.

Retail 362

Retail Government Mortgage Business 362

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. Last year, the company acquired the majority of Platinum Home Mortgage Corp.’s billion in volume.

Retail 360

Retail Lending Loan Officers Finance 360

Housing Wire

JUNE 5, 2024

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. The news was first reported by National Mortgage News. Sieffert added that Fiore’s successor has been selected. “At

Retail 403

Retail Finance Business Modernization 403

Housing Wire

MAY 23, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pretax net loss of $645 on each loan they originated in the first quarter of 2024 — a decrease from the average loss of $2,109 per loan in Q4 2023, according to the Mortgage Bankers Association ’s (MBA) newest quarterly performance report.

Retail 404

Retail Mortgage Valuation Inventory 404

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

Retail 389

Retail Tools Lending Technology 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. Hummel, who previously led the correspondent and Housing Finance Agency (HFA) business at U.S.

Retail 355

Retail Lending Loan Officers Business 355

Appraisal Buzz

OCTOBER 23, 2024

This is in spite of the possibility that mortgage rates will decline as a result of the Federal Reserve’s September 50 basis point cut to the federal funds interest rate. 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

JANUARY 8, 2025

California -based direct lender AmeriTrust Mortgage announced a new addition to its leadership team. The company welcomed veteran mortgage executive Jett Farrington this week as its new chief operating officer. Jett Farrington Farrington will aim to expand AmeriTrust’s operations on the wholesale and retail side of business.

Mortgage 397

Mortgage Retail Business Lending 397

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. 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. The combined enterprises would represent 1.3%

Retail 427

Retail Mortgage Loan Officers Construction 427

Housing Wire

JANUARY 24, 2024

Mortgage demand continued to increase last week, as seen in an uptick in purchase activity. Mortgage applications rose by 3.7% 19 compared to one week earlier on a seasonally adjusted basis, per the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey. retail residential mortgage applications.

Mortgage 489

Mortgage Retail Buyers 489

Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

Mortgage 499

Mortgage New Listings Inventory Contracts 499

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgage 389

Mortgage Retail Loan Officers Construction 389

Housing Wire

JANUARY 2, 2025

Rising mortgage rates suppressed applications in the Mortgage Bankers Association (MBA) final mortgage applications survey index of 2024, released on Thursday. Mortgage demand declined 21.9% Mortgage demand had been on the upswing for much of November and December. from two weeks earlier during the week ending Dec.

Mortgage 430

Mortgage Retail Contracts Government 430

Appraisal Buzz

SEPTEMBER 3, 2024

A recent study has brought to light the financial advantages of working with Independent Mortgage Brokers, underscoring the significant savings and inclusive support they offer to a diverse range of homebuyers. Additionally, they paid significantly less upfront—87 basis points versus 106 in the retail channel.

Retail 397

Retail Mortgage Housing Market Appraisal 397

Housing Wire

MARCH 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fairway Independent Mortgage Corp. Rocket Mortgage had purchase origination volume of $47.5

Mortgage 457

Mortgage Marketing Retail Lending 457

Housing Wire

OCTOBER 17, 2024

Former Open Mortgage executive Brenda Hedeen has been hired by Utah-based Canopy Mortgage as its new chief financial officer. Hedeen was the CFO of Open Mortgage from May 2022 to October 2024. She also had CFO stints at On Q Financial and Mann Mortgage. ” she wrote in a LinkedIn post this week.

Mortgage 386

Mortgage Retail Loan Officers Technology 386

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. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officers 415

Loan Officers Mortgage Retail Lending 415

Housing Wire

APRIL 9, 2023

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. Mortgage rates started last week at 6.44% and fell to a low of 6.16% , then ended the week at 6.34%.

Housing Market 539

Housing Market Marketing Mortgage Inventory 539

Housing Wire

SEPTEMBER 19, 2024

The Federal Reserve cut rates on Wednesday and mortgage rates went up! The 10-year yield and 30-year mortgage rates have been in a slow dance since 1971 and trended together. The growth of housing permits is a good sign for economic expansion, and falling mortgage rates since June have helped push this data line. What happened?

Mortgage 531

Mortgage Retail Marketing Housing Market 531

Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. The alleged scheme misled lenders about the “true intended use of the properties,” and “Gallo and Elmas secured and profited from mortgage loans that were approved at lower interest rates,” the DOJ claimed.

Mortgage 541

Mortgage Retail Finance Investing 541

Housing Wire

NOVEMBER 16, 2022

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed. The market composite index, a measure of mortgage loan application volume, increased 2.7%

Mortgage 542

Mortgage Retail Contracts Marketing 542

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. Academy has originated $5 billion in mortgage loans over the last 12 months ended in January, per mortgage tech platform Modex.

Mortgage 458

Mortgage Loan Officers Retail Finance 458

Housing Wire

DECEMBER 14, 2023

Texas-based lender Thrive Mortgage plans to merge with digital multichannel rival Lower , which will create a unified lender with more than 650 loan officers and 120 active branches across the country. billion during the same time period, according to mortgage recruiting platform Modex. In total the lenders have originated about $3.3

Mortgage 426

Mortgage Retail Loan Officers Finance 426

Housing Wire

APRIL 22, 2024

Industry veteran Rick Roque has resigned from his position as corporate vice president at retail mortgage lender CrossCountry Mortgage (CCM) to join multichannel player Sierra Pacific Mortgage as executive vice president of retail. Roque, who co-founded M&A and retail mortgage banking firm Menlo Co.

Retail 355

Retail Mortgage Loan Officers Real Estate 355

Housing Wire

MARCH 13, 2024

A decline in interest rates buoyed mortgage demand for another week. Mortgage applications increased by 7.1% on a seasonally adjusted basis during the week ending March 8, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. retail residential mortgage applications.

Mortgage 451

Mortgage Retail Government Marketing 451

Housing Wire

MARCH 6, 2024

The typically busy spring housing market seems to already be at the doorstep despite stubbornly higher mortgage rates. Mortgage applications increased by 9.7% on a seasonally adjusted basis during the week ending March 1, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey.

Mortgage 454

Mortgage Retail New Listings Inventory 454

Housing Wire

DECEMBER 27, 2023

Guild Mortgage has an ambitious plan under the leadership of its new CEO, Terry Schmidt. The California-based retail lender has set a target of becoming a top-10 lender in the markets in which it has a presence, which would give it about 2% in overall market share. nationally, per Inside Mortgage Finance (IMF) estimates.

Mortgage 398

Mortgage Retail Lending Sellers 398

Appraisal Buzz

OCTOBER 22, 2024

According to a new report, during Q3 of 2024, there was a small increase in the delinquency rates for mortgages secured by commercial buildings. This is in line with the most recent Commercial Real Estate Finance (CREF) Loan Performance Survey from the Mortgage Bankers Association (MBA). the previous quarter. the previous quarter.

Mortgage 354

Mortgage Retail Real Estate Finance 354

Housing Wire

FEBRUARY 21, 2024

Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% 16, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. And the U.S.

Mortgage 433

Mortgage Retail Home Value Marketing 433

Housing Wire

SEPTEMBER 15, 2024

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates. That’s ok — very few people are looking at the data without an agenda.

Mortgage 517

Mortgage Inventory New Listings Retail 517

Housing Wire

APRIL 23, 2024

On Tuesday at The Gathering by HousingWire in Scottsdale, Arizona, Guild Mortgage CEO Terry Schmidt sat down with HousingWire editor in chief Sarah Wheeler to talk about the principles guiding much of the lender’s actions in recruiting, mergers and acquisitions (M&A) and overall business outlook.

Retail 380

Retail Mortgage Technology Business 380

Housing Wire

FEBRUARY 7, 2024

Mortgage demand picked up last week as lower interest rates steered homebuyers back into the market, but activity remains weaker than a year ago because of limited inventory. Mortgage applications increased by 3.7% Mortgage applications increased by 3.7% The 30-year fixed-rate mortgage averaged 6.63% as of Feb.

Mortgage 437

Mortgage Retail Inventory Marketing 437

Housing Wire

JUNE 15, 2024

Since May 29, we’ve witnessed a decline in the 10-year yield, which has been favorable for mortgage rates. 10-year yield and mortgage rates After the intense jobs week data , we ran straight into CPI and PPI inflation week, with a Fed meeting thrown in! Once mortgage rates began rising in 2024, some demand was removed.

Mortgage 471

Mortgage Inventory Marketing New Listings 471

Housing Wire

DECEMBER 27, 2024

Reverse mortgage business and mortgage business generally is not where people want it to be. That was a repeated idea shared by a group of reverse mortgage professionals when asked to assess what they see as the biggest industry challenges of the year. I think that’s true from an industry standpoint.

Mortgage 348

Mortgage Retail Lending Business 348