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 435

Retail Lending Loan Officers Finance 435

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 446

Retail Government Mortgage Business 446

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%

Retail 444

Retail Mortgage Loan Officers Business 444

Housing Wire

MARCH 7, 2024

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said. Its strategy has focused on acquisitions in both correspondent and retail channels.

Retail 459

Retail Lending Renovations Construction 459

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. Accordingly, we are refining our expenses and eliminating some roles in our retail and corporate divisions as our business simplifies.

Retail 482

Retail Finance Business Modernization 482

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 459

Retail Tools Lending Technology 459

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

Retail 459

Retail Mortgage Real Estate Agent Business 459

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. The pullback in retail was not as severe as the one in wholesale.

Retail 456

Retail Mortgage Business Marketing 456

Appraisal Buzz

OCTOBER 23, 2024

The post Auction Demand Weakens in Q3 as Retail Market Softens first appeared on The MortgagePoint. The post Auction Demand Weakens in Q3 as Retail Market Softens appeared first on Appraisal Buzz. To read the full report, including more data, charts, and methodology click here.

Retail 370

Retail Marketing Inventory Development 370

Housing Wire

MAY 23, 2024

Improved financial performance for retail lenders coincides with a more stable secondary mortgage market , which has seen spreads narrow since they peaked in fall of 2023. Median productivity — measured by loans closed per retail or consumer-direct production employee — remained unchanged at 1.1 loans per employee in the first quarter.

Retail 476

Retail Mortgage Valuation Inventory 476

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. The acquisition of Academy’s retail assets is scheduled to close by the end of February. Guild Mortgage ’s acquisition of Academy Mortgage Corp.

Retail 448

Retail Mortgage Loan Officers Construction 448

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 447

Retail Mortgage Loan Officers Real Estate 447

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 448

Retail Legal Lending Business 448

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 476

Retail Marketing Loan Officers Government 476

Housing Wire

AUGUST 30, 2024

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. ” Roque’s arrival at NFM comes just a few months after he joined Sierra Pacific Mortgage as executive vice president of retail. .”

Lending 435

Lending Retail Technology Mortgage 435

Housing Wire

MAY 6, 2024

Last week, California-based Mountain West Financial sold its retail assets to competitor ML Mortgage Corp. Last month, CMG Financial acquired Norcom Mortgage ’s retail assets.

Mortgage 459

Mortgage Retail Loan Officers Construction 459

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. I’m excited to be a part of a leadership group that I can be really proud of!”

Mortgage 459

Mortgage Retail Loan Officers Technology 459

Housing Wire

AUGUST 2, 2024

properties sold at foreclosure auction, showed that this trend is being fueled by rising levels of inventory on the retail market. If the demand pullback continues into Q3, it would also foreshadow a slowdown in retail home price appreciation.” from May to June. On an annualized basis, five major U.S.

Inventory 476

Inventory Retail Buyers Renovations 476

Housing Wire

OCTOBER 24, 2024

Weaker demand from the local community developers buying at auction suggests continued weakness in the retail housing market into early 2025 given that those local community developers are anticipating retail market conditions about six months into the future,” Daren Blomquist, vice president of market economics at Auction.com, said in a statement.

Housing Market 482

Housing Market Marketing Retail Development 482

Housing Wire

APRIL 23, 2024

Part of the strategy, she said, is to remain focused predominantly on the retail side of the business. “We We decided going forward that we’re going to focus 100% on retail ,” she said. “We We look for like-minded companies that have the same culture, because culture and leadership are key.

Retail 448

Retail Mortgage Technology Business 448

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.”

Retail 521

Retail Loan Officers Brokerage Mortgage 521

Housing Wire

DECEMBER 12, 2024

Institutional sellers at distressed property auctions have gradually lowered pricing over the last six months as rising retail inventory and stubbornly high mortgage rates act as twin headwinds for buyers purchasing at these auctions.

Housing Market 367

Housing Market Retail Marketing Sellers 367

Housing Wire

MAY 6, 2024

has decided to grow its retail footprint organically by hiring origination teams from various competitors. In early April, California-based multichannel lender CMG Financial announced the acquisition of Norcom ‘s retail assets, with the target company shifting its strategy to focus on the wholesale side of the business.

Retail 448

Retail Loan Officers Lending Legal 448

Housing Wire

SEPTEMBER 23, 2024

San Diego-based Smartfi Home Loans , which is primarily active as a wholesale lender in the reverse mortgage space and is actively building a retail division that offers reverse mortgage products, has hired industry veteran Martin Lenoir as its new chief marketing officer. Lenoir left AAG in late 2023 and observed its acquisition from afar.

Marketing 448

Marketing Retail Advertising Loan Officers 448

Appraisal Buzz

SEPTEMBER 3, 2024

The study, conducted by Polygon Research and backed by Willow Canyon Advisors and United Wholesale Mortgage (UWM) , analyzed 2023 data, and found that consumers who choose Mortgage Brokers over nonbank retail lenders can save an average of $10,662 over the life of their loan.

Retail 397

Retail Mortgage Housing Market Appraisal 397

Housing Wire

FEBRUARY 2, 2024

the nation’s ninth-largest mortgage originator, announced Friday that it would be closing its wholesale channel and pivoting entirely to retail. By contrast, the Wisconsin-headquartered lender did about $18 billion in retail loans during the same time period. Fairway Independent Mortgage Corp. ,

Retail 459

Retail Business Finance Mortgage 459

Housing Wire

NOVEMBER 13, 2024

The New York-based digital homeownership platform saw its revenue take a dip as it continues to invest in artificial intelligence (AI) and build out its retail channel. We expect to bring on their retail branches, which are about 50 retail branches, onto our better platform,” Garg said on the call. “And

Retail 370

Retail Mortgage Loan Officers Technology 370

Housing Wire

JANUARY 19, 2024

Bidding behavior for foreclosure properties on Auction.com in the first quarter of 2023 reliably predicted a rebound in retail home price appreciation in the third quarter of 2023. That prediction is documented in my last market outlook for HousingWire, published in May. What bidding behavior is signaling a slowdown?

Retail 488

Retail Marketing Realtors Real Estate 488

Housing Wire

JULY 1, 2024

He was chief retail production officer at the time of his departure in 2019. The retail lender, which has several other joint ventures with other residential brokerages, originated $7 billion between January and March, according to IMF. ” Knapp spent 10 years at Guaranteed Rate between 2008 and 2019 in multiple leadership roles.

Retail 448

Retail Brokerage Real Estate Agent Real Estate 448

Housing Wire

OCTOBER 24, 2024

Equity stripping An analysis of more than 10,000 properties that have sold on the retail market so far in 2024 after previously being scheduled for foreclosure auction on Auction.com shows that pre-foreclosure buyers are purchasing at an average discount of 14% below estimated after-repair market value. “I’m I don’t think that’s fair.”

Retail 448

Retail Buyers Renovations Finance 448

Housing Wire

MAY 2, 2024

In February, it announced the hiring of James Hecht , former head of production and executive vice president for national retail lending at Newrez , as its CEO. “With retail, you’re under a mortgage banker; you know the product set because you’re all in-house,” he said.

Loan Officers 448

Loan Officers Mortgage Retail Lending 448

Housing Wire

AUGUST 8, 2024

In 2024, it acquired Norcom Mortgage ’s retail assets in April. In 2023, the company added Homebridge Financial Services ‘ retail division in March and Shamrock Home Loans ’ origination team in November. In the first half of 2024, CMG was the 13th-largest U.S. mortgage lender, producing $11.8

Retail 468

Retail Mortgage Business Marketing 468

Housing Wire

APRIL 30, 2024

Universal president and industry veteran TJ Kennedy leads its retail and wholesale channels. It also has an offline retail channel that is “picking up steam” through M&A opportunities, such as Thrive and Universal, and it maintains a local presence, Snyder said.

Retail 448

Retail Loan Officers Lending Mortgage 448

Housing Wire

SEPTEMBER 23, 2024

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. The company also appointed Nancy Smith to lead its Colorado and Wyoming branches as regional vice president of in-market retail. Bergjans serves the U.S.

Retail 448

Retail Lending Loan Officers Mortgage 448

Housing Wire

MARCH 5, 2024

Carrington is a holding company and its primary business includes single-family mortgage asset management, as well as mortgage origination in the retail, wholesale and correspondent spaces; servicing; and real estate sales and settlement services.

Retail 448

Retail Lending Government Business 448

Housing Wire

AUGUST 14, 2024

The go-to market strategy of the company’s retail lending division was revised and includes stepping away from “strategies that have been less fruitful over time,” she explained. “We Brokers have shown a lot of interest in the product, and FOA aims to direct that inbound interest into more advertising in the coming quarter. “We

Finance 435

Finance Marketing Mortgage Retail 435

Housing Wire

MARCH 12, 2024

The correspondent and broker channels are more focused on purchase origination volumes and are less fragmented than the retail channel, which has seen volumes drop more quickly amid lower refinancing activity,” Fitch said. UWM originated $94.2

Mortgage 488

Mortgage Marketing Retail Lending 488