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Jury convicts San Francisco real estate investor for defrauding Quicken Loans

Housing Wire

A San Francisco real estate investor with political ties was found guilty of bank fraud and making false statements to Quicken Loans as part of a larger federal investigation targeting public corruption in the city. . million real estate loan to Kelly.”.

Loans 280
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AIME names Jonathon Haddad as new CEO and chairman

Housing Wire

Before that, Haddad spent about six years at Quicken Loans , starting as a senior mortgage banker in 2013 and ascending to regional vice president. Haddad’s nomination shows AIME’s commitment to attracting more retail loan officers to the broker channel. He left Rocket in the beginning of 2019.

Lending 392
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QC Ally hires Kristin Broadley as its chief innovation officer 

Housing Wire

Loan quality and audit services company QC Ally announced on Tuesday that Kristin Broadley has joined the company as its new chief innovation officer. In this role, Broadley will help expand QC Ally’s tech-enabled loan quality initiatives and audit services. Broadley’s professional career spans more than two decades.

Loans 349
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Making sense of ultra-low mortgage rates

Housing Wire

For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. (We We reached out to Quicken, Parkside and Stearns for comment with no response). s San Diego office, to get a better understanding since he originates a lot of UWM’s Conquest loans.

Mortgages 523
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Rocket Mortgage: UWM is trying to “manipulate” market

Housing Wire

Tension between long-time rivals United Wholesale Mortgage and Rocket Pro TPO , formerly Quicken Loans Mortgage Services , reached a new boiling point after the top wholesale lender in the nation announced it will no longer work with brokers who also work with Rocket Mortgage. And Rocket wasn’t alone in being called out.

Mortgages 501
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A repositioning of players in the MSR market is underway

Housing Wire

For at least the past five years, according to market data, the MSR sector has been increasingly dominated by nonbanks — with a good portion of the loan balance they service at historically low legacy rates. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 360
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UWM 1.99% 30-year mortgage rate comes with a catch

Housing Wire

You won’t find a no-cost loan in the low 2s or high 1s,” Mortgage Broker Jason Barlow explained in an interview with HousingWire. While a rate of 1.99% could cost a borrower thousands of dollars more on their loan, if they are planning on staying in their home for several years, the lower rate could make sense over time.

Mortgages 521