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Retail reverse mortgage production took a hit in January

Housing Wire

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.

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With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders. We’re not out building a retail person’s name. I mean we’re talking up to 30 years,” Nichols said.

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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

Much like lawyers needing to take a separate bar exam in each state they wish to practice in, real estate agents’ training and licensing requirements vary by state. With training courses for all 50 states and easily accessible online courses, The CE Shop is a value-packed resource for agents nationwide. We highly recommend The CE Shop.

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Union Home Mortgage adds two executive leaders

Housing Wire

Ohio -based UHM promoted Brian Smith to chief operating officer of retail lending and hired David Alonzo as its chief technology officer. After branching out into executive coaching and training, he founded UHM’s in-house training program, Partners Coaching Partners.

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MBA teams with Cleveland State University on mortgage banking education program

Housing Wire

I wanted a way to integrate [students] with these companies to be able to learn about the field and be trained properly to have entry-level jobs, Hoffman said. The announcement also noted that select classes will be led by industry practitioners from MBA member companies, including Success Mortgage Partners , Rocket Mortgage and NFM Lending.

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Lower has a round of layoffs to “weather upcoming rate hikes”

Housing Wire

“We’ve right-sized areas of our business impacted the most by this volatile market, such as refinance, operations, training, and recruiting,” Lindsey LeBerth, the company’s director of communications, wrote in an email to HousingWire. “In In August, Lower announced that Honor Home Loans , founded by U.S.

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How boutique lender Revolution Mortgage plans its expansion

Housing Wire

Margin compression, higher mortgage rates, and a purchase-focused market are dictating more sales process control among loan officers and fewer layers of bureaucracy in retail lenders. And, according to Covey, the changes are necessary in traditional retail lenders to navigate the industry headwinds. “LOs Hiring local, top talent.

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