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 360

Retail Lending Loan Officers Finance 360

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 386

Retail Lending Renovations Construction 386

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 362

Retail Government Mortgage Business 362

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 403

Retail Finance Business Modernization 403

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. 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 355

Retail Lending Loan Officers Business 355

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 376

Retail Mortgage Real Estate Agent Business 376

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 404

Retail Mortgage Valuation Inventory 404

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 427

Retail Mortgage Loan Officers Construction 427

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 454

Retail Marketing Loan Officers Government 454

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 409

Retail Legal Lending Business 409

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 407

Lending Retail Mortgage Technology 407

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 520

Retail Loan Officers Brokerage Mortgage 520

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 471

Housing Market Marketing Retail Development 471

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

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 21, 2024

“Jeff Nelson is one of the best mortgage executives in the nation,” Ron Bergum, chief retail growth officer at Guaranteed Rate, said in a statement. 4 retail mortgage lender in the U.S., It’s a telling story for Jeff to rejoin the Guaranteed Rate family. Headquartered in Chicago, Guaranteed Rate Companies is the No.

Retail 430

Retail Tools Lending Clients 430

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 389

Mortgage Retail Loan Officers Construction 389

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 416

Inventory Retail Buyers Renovations 416

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 433

Retail Business Finance Mortgage 433

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 380

Retail Mortgage Technology Business 380

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 386

Mortgage Retail Loan Officers Technology 386

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 430

Retail Buyers Renovations Finance 430

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 415

Loan Officers Mortgage Retail Lending 415

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 389

Retail Loan Officers Lending Legal 389

Housing Wire

DECEMBER 14, 2023

Both companies generated most of their origination volume through the retail channel. It operates an online consumer-direct channel, an offline retail channel, and a third-party origination platform servicing brokers and other fintechs. The deal’s goal was to expand into areas lacking a brick-and-mortar presence.

Mortgage 426

Mortgage Retail Loan Officers Finance 426

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 381

Marketing Retail Advertising Loan Officers 381

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

Housing Wire

SEPTEMBER 17, 2024

According to its results, veteran homebuyers who work with a mortgage broker saved an average of $13,600 over the life of their loan compared to working with retail lenders. This disparity in savings underscores the financial benefits of working with an effective mortgage broker.

Lending 428

Lending Retail Clients Mortgage 428

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

Housing Wire

NOVEMBER 15, 2023

Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. billion in mortgages through the retail channel, a 60.3% In 2018, it acquired Franklin American Mortgage. In the first half of the year, Citizens originated $2.4 Correspondent channel volume came in at $2.5

Retail 435

Retail Mortgage Contracts Finance 435

Housing Wire

JANUARY 25, 2024

Haddad’s nomination shows AIME’s commitment to attracting more retail loan officers to the broker channel. According to the trade group, under his leadership, it will focus, among other initiatives, on “retail to wholesale originator recruitment.” The analysis includes first-lien mortgage originations.

Retail 395

Retail Lending Loan Officers Brokerage 395

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.

Brokerage 385

Brokerage Retail Real Estate Agent Real Estate 385

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

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. Among the newly added LOs in the fall included two LOs — John Muhammad ($25.72 million) and Hugo Ortiz-Pulido ($21.21

Loan Officers 431

Loan Officers Retail Lending Mortgage 431

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 457

Mortgage Marketing Retail Lending 457

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 400

Retail Loan Officers Lending Mortgage 400