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. Last month, CMG Financial acquired Norcom Mortgage ‘s retail assets.

Retail 448

Retail Loan Officers Mortgage Lending 448

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Hummel, who previously led the correspondent and Housing Finance Agency (HFA) business at U.S. 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.

Retail 456

Retail Lending Loan Officers Business 456

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

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

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 Business Loan Officers 444

Appraisal Buzz

NOVEMBER 19, 2024

Cornerstone Home Lending President–National Retail Division Jay Crowell Cornerstone Home Lending , a division of Cornerstone Capital Bank , has announced the promotion of Jay Crowell to the newly created role of President–National Retail Division. The post Cornerstone Names New Head of Retail first appeared on The MortgagePoint.

Retail 221

Retail Loan Officers Lending Clients 221

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

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

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 Finance 456

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

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 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

JANUARY 8, 2025

Jett Farrington Farrington will aim to expand AmeriTrust’s operations on the wholesale and retail side of business. Since 2022, the lender has expanded its licensing from one to 35 states, operating in the wholesale and retail channels. Growth may be an understatement, especially since AmeriTrust funded more than $1.1

Mortgage 397

Mortgage Retail Business Lending 397

Appraisal Buzz

MARCH 4, 2025

Cloudvirga reports that it has completed an enhanced integration for its Horizon Retail POS product and Encompass Partner Connect , the latest API framework for mortgage technology from Intercontinental Exchange (ICE).

Retail 150

Retail Modernization Technology Development 150

Housing Wire

FEBRUARY 5, 2025

Demand from the local community developers buying at distressed property auctions is often sensitive to retail market mortgage rates because those auction buyers are often selling their renovated properties to retail buyers using traditional financing. But these ratios vary significantly across local markets.

Retail 417

Retail Renovations Buyers Finance 417

Appraisal Buzz

DECEMBER 18, 2024

By comparison, retail construction has slowed dramatically, averaging just 41-million square feet annually in recent years due to the rise of e-commerce. While retail spaces and office parks dominated the landscape in the 1980s, todays trends are focused on multifamily housing and self-storage. Looking Forward: Shifting Trends in U.S.

Real Estate 368

Real Estate Development Logistics Retail 368

Appraisal Buzz

OCTOBER 22, 2024

Delinquency rates for commercial mortgages backed by office properties continued to increase during the third quarter but declined for loans backed by lodging, retail and industrial properties,” said Jamie Woodwell, MBA’s Head of Commercial Real Estate Research. of retail balances were delinquent, down from 4.5%. the previous quarter.

Mortgage 354

Mortgage Retail Real Estate Finance 354

Appraisal Buzz

OCTOBER 25, 2024

In their new study , “ghost towns” are modern metro areas on the edge of decline due to decreasing population and increasing home and retail vacancies. Homes vacant for longer than two years show a pattern of long-term decline, while retail vacancy rates impact the local economy and decreasing new building permits show lesser investments.

Retail 355

Retail Modernization Construction Realtors 355

Housing Wire

JANUARY 6, 2025

Per the Chrisman Commentary, a daily mortgage newsletter produced by Rob Chrisman , GVC said that Peachman “will play an integral role in expanding our retail branch network across the GVC Lending footprint.”

Lending 418

Lending Mortgage Retail 418

Housing Wire

NOVEMBER 12, 2024

The world’s largest home improvement retailer and fourth-largest U.S. retailer by market capitalization reported $40.2 Home Depot raised its fiscal outlook after strong third-quarter 2024 sales, driven by demand for seasonal goods and hurricane preparation in the Southeast. billion in sales for the quarter ending Oct. Revenue was up 6.6%

Housing Market 435

Housing Market Marketing Retail Home Improvement 435

Housing Wire

NOVEMBER 21, 2024

Industries like retail, banking, transportation and food service have undergone massive digital transformation in recent years by leveraging new technologies to enhance consumer experience. Digital payments have been the norm for years in spaces such as retail and restaurants.

Property Management 370

Property Management Retail Technology Transportation 370

Housing Wire

OCTOBER 15, 2024

million people — Fairway had three retail loan offices and three desks in real estate offices, all in majority-white areas. In neighborhoods with Black populations of 80% or more, Fairway granted loans at less than one-eighth of the rate of its competitors. The regulators added that in the Birmingham area — which has six counties and about 1.1

Advertising 468

Advertising Lending Loan Officers Retail 468

Housing Wire

JANUARY 10, 2025

The bulk of the job gains in December occurred in the care (+46,000 jobs), government (+33,000 jobs), retail trade (+43,000 jobs), and social assistance (+23,000 jobs) sectors. The unemployment rate has hovered at 4.1% for the past seven months. The number of unemployed people was 6.9 million in December.

Construction 397

Construction Housing Market Retail Real Estate 397

Housing Wire

APRIL 3, 2025

Depository banks JPMorgan Chase and Wells Fargo made the top five, while Cleveland-based retail lender CrossCountry Mortgage continued its upward trajectory and was No. Rocket originated nearly as many loans as UWM at 361,000, and claimed a 25.1% growth rate. 4 in the 2024 HMDA rankings. CCM produced $39.4

Mortgage 410

Mortgage Retail Lending Real Estate 410

Housing Wire

MARCH 14, 2025

Flagstar Bank’s parent company, Flagstar Financial , revealed in its fourth-quarter 2024 earnings call in January that it was planning to close “approximately” 20 private client offices and 60 retail branches. There were about 20 private client retail locations that we are looking to consolidate.

Retail 365

Retail Clients Business Real Estate 365

Housing Wire

OCTOBER 18, 2024

Condos in Florida have to be next level,” said one retail lending executive. Provident, run by the Pica family, is known in the industry for its conservative approach and sports a better-than-average delinquency rate in its servicing portfolio, so it’s perhaps not a huge surprise it would exit such a choppy space. Condos are hard.

Marketing 524

Marketing Mortgage Finance Lending 524

Housing Wire

DECEMBER 27, 2024

Robinson added that one of the ways that NAF is aiming to address the messaging challenge is by spreading it across multiple platforms and divisions, including the retail lending and distributed field sales divisions at her company. But growth can also bring a series of challenges. And we do that like we do everything else: very carefully.

Mortgage 397

Mortgage Retail Lending Business 397

Housing Wire

MARCH 15, 2025

Also, dont forget we have retail sales data on Monday, which could shake up the bond market a bit. I’m especially looking forward to the Q&A session.

Mortgage 537

Mortgage New Listings Inventory Housing Market 537

Housing Wire

NOVEMBER 15, 2024

Home improvement retailers have also taken notice, with The Home Depot refreshing an in-house brand with accessibility in mind for things like grab bars and easier-to-use faucets. In 2021, Lowe’s established a single stop for items including wheelchair ramps and shower benches, the AP reported.

Design 435

Design Renovations Retail Home Improvement 435

Housing Wire

DECEMBER 2, 2024

In January 2023, Wells Fargo also announced its exit from the correspondent lending space and a revised focus on bank customers and minority homebuyers through its mortgage retail team.

Lending 397

Lending Retail Mortgage Investing 397

Housing Wire

FEBRUARY 21, 2025

If economic data starts coming in weaker than anticipated like when retail sales fell short last week it wouldnt be surprising to see bond yields dip as weaker economic data tends to lower bond yields. For the yield to climb above that 4.70% threshold or for mortgage rates to exceed 7.25%, the economy would need to outperform expectations.

Mortgage 474

Mortgage Housing Market Retail Government 474

Housing Wire

DECEMBER 6, 2024

The majority of Novembers job gains occurred in health care (+54,000 jobs), leisure and hospitality (+53,000 jobs), government (+33,000 jobs), and social assistance (+19,000 jobs), while retail trade lost 28,000 jobs. The construction sector posted modest jobs gains in November, gaining a total of 10,000 jobs from the month prior.

Marketing 418

Marketing Construction Retail Real Estate 418

Housing Wire

NOVEMBER 13, 2024

Movement CEO Casey Crawford , a former pro football player who founded the distributed retail nonbank in 2008, said in a statement that Smith has a “track record of leading companies through aggressive growth and transformation.” compared to the same period last year, according to Inside Mortgage Finance (IMF).

Mortgage 370

Mortgage Loan Officers Retail Finance 370

Housing Wire

DECEMBER 18, 2024

Per a rep from Citi, the platform is a way for them to “[carve] a space for ourselves through the content and professional advice available on mortgage.com, an area in which Citi has decades of experience through direct-to-consumer and retail branch sales.”

Marketing 417

Marketing Lending Retail Mortgage 417

Housing Wire

FEBRUARY 4, 2025

Last year, Rithm restructured its distributed retail business due to a shrinking mortgage market, cutting managers and reducing compensation at Newrez, a top mortgage lender and servicer. A year prior, it acquired Sculptor Capital Management , along with Computershare Mortgage Services and Specialized Loan Servicing (SLS). ”

Real Estate 394

Real Estate Retail Investors Technology 394