Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Charting the loan officer exit.

Loan Officer 427

Loan Officer Loans Mortgages Industrial 427

Housing Wire

AUGUST 2, 2024

OceanFirst Bank N.A. is acquiring Garden State Home Loans Inc. which will become a new division for the regional depositary bank, HousingWire has learned. Garden State’s website and social media page reflect the status of a “division of OceanFirst Bank N.A.” billion in 19,000 loans since its foundation.

Banks 460

Banks Loans Loan Officer Lending 460

Housing Wire

MAY 20, 2025

But Toohig, who spoke Tuesday during the Mortgage Bankers Association (MBA)’s Secondary and Capital Market Conference in New York City, was also highlighting the opportunity for loan officers to originate more HELOCs and other second-lien mortgages. How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?

Equity 343

Equity Loan Officer Banks Loans 343

Housing Wire

JUNE 17, 2022

Do loan officers need more technology than they currently have? Most loan officers do not believe they need more tech than they have now. Most loan officers do not believe they need more tech than they have now. I called a friend over at Bank of America to talk about this. Let that sit a second.

Loan Officer 426

Loan Officer Loans Technology Banks 426

Housing Wire

OCTOBER 31, 2024

Interest rates on second-lien loans tend to be higher when compared to first liens, reflecting the higher amount of risk to the lender. According to data from the Federal Reserve Bank of New York , roughly 750,000 home equity lines of credit ( HELOCs ) were issued to borrowers ages 55 or older in 2023.

Mortgages 426

Mortgages Equity Loan Officer Loans 426

Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. According to its website, Trustar Bank offers 7/1 and 10/1 adjustable rate mortgages ( ARMs ), consumer construction loans and home equity line of credits.

Banks 440

Banks Mortgages Loan Officer Loans 440

Housing Wire

NOVEMBER 15, 2024

Should the goal of marketing technology be to make it so that a loan officer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Ordering an appraisal was as easy as pushing a button.

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Loan Officer Loans Marketing Title 369

Housing Wire

MAY 12, 2025

Bidding wars for producing mortgage loan officers are back with a vengeance and it’s largely in the hopes of capitalizing on an upcoming refinance wave, recruiters and executives tell HousingWire. The task would be difficult in any market. This time, compensation is anywhere between 40 to 70 basis points.

Mortgages 363

Mortgages Loan Officer Lending Loans 363

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. 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. Bank is a consumer and business banking company owned by US Bancorp.

Banks 449

Banks Lending Loan Officer Loans 449

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. It funded $4.2

Lending 461

Lending Banks Loan Officer Loans 461

Housing Wire

APRIL 29, 2024

Pennsylvania-based Fulton Bank, National Association of Lancaster, has agreed to assume most of the deposits and assets of Republic First Bank , which state regulators seized on Friday to “protect depositors.” billion in loans. billion in 2023, with most of it being conventional (74%) and purchase (65%) loans.

Banks 438

Banks Closing Loan Officer Loans 438

Housing Wire

MARCH 11, 2025

Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. Bristol County Savings Bank bought into Milestone in 2022. Willow will fold into Milestone as part of the deal. “Our goal is to be No. ”

Loans 370

Loans Mortgages Loan Officer Technology 370

Housing Wire

JULY 15, 2024

For loan originators , managing the narrative is crucial. Register now for AMPCON and be part of the conversation that’s shaping the future of mortgage banking. The messages you convey to clients, referral partners, and even yourself can significantly impact your success. An informed client is a confident client.

Loan Officer 426

Loan Officer Loans Banks Mortgages 426

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 476

Banks Loan Officer Lending Loans 476

Housing Wire

NOVEMBER 13, 2024

Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. He joined Movement in March 2015 to lead the Northeast region, was promoted to chief performance officer in 2020 and president in 2021.

Mortgages 370

Mortgages Loan Officer Finance Lending 370

Housing Wire

OCTOBER 30, 2024

If you are not a depository or a bank, you typically don’t have a balance sheet, so you have to sell that loan in the scratch-and-dent market, which was costing last year 15 to 20 points — and even now it’s still costing anywhere between 5 to 8.5 The new model also provides economic benefits to lenders, according to Mittal. “If

Debt-to-income ratio 426

Debt-to-income ratio Loans Loan Officer Finance 426

Housing Wire

MAY 30, 2023

And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Blend’s mortgage banking software processed 23.2% Artificial intelligence (AI) is a buzzword in virtually every industry right now.

Loan Officer 411

Loan Officer Loans Banks Technology 411

Housing Wire

MARCH 6, 2023

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. I see a lot more low credit scores, funky income, foreign nationals or bank statement loans,” he said.

Loan Officer 392

Loan Officer Loans Pre-approval Mortgages 392

Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. We’re looking to continue expanding.

Banks 461

Banks Mortgages Lending Loan Officer 461

Housing Wire

DECEMBER 4, 2024

The lender was later acquired by Caliber Home Loans in September 2014, prompting Lindsay to continue her career as a loan consultant and sales manager there until December 2022. Most recently, Lindsay served as a mortgage loan officer at U.S. Rate is the second-largest retail mortgage lender in the U.S.

Lending 392

Lending Mortgages Loan Officer Loans 392

Housing Wire

APRIL 18, 2024

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., First Federal Bank has 25 branches in the Southeast and operations in the Midwest, including mortgage centers in Jacksonville, Florida ; Alpharetta, Georgia; Madison, Wisconsin; and Overland Park , Kansas.

Banks 440

Banks Mortgages Loan Officer Lending 440

Housing Wire

NOVEMBER 1, 2021

The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

Banks 440

Banks Mortgages Loan Officer Lending 440

Housing Wire

SEPTEMBER 14, 2023

Because Gastelum’s client started a new job within 30 days, an underwriter at Nova decided that there was no interruption to his income and approved the loan. “It really comes down to interpretation of the guideline. When the borrower is denied for an FHA mortgage loan, an MCR report had to be created for that denial.

Loan Officer 411

Loan Officer FHA loan Loans Mortgages 411

Housing Wire

FEBRUARY 19, 2025

Denver-based loan originator Chris Franquemont announced on Wednesday his return to Guaranteed Rate as producing branch manager. The top-producing loan officer brings a proven track record of high-volume production and financing solutions for borrowers. His return follows a brief stint with CrossCountry Mortgage.

Loan Officer 345

Loan Officer Lending Loans Technology 345

Housing Wire

FEBRUARY 17, 2023

Brady Torgerson, former president of First Security Bank-West , was sentenced to two years in prison for two counts of bank fraud he conducted between 2019 and 2021 when working for the North Dakota-based bank and Union Bank as a loan officer. Three others were also sentenced in connection to the fraud.

Banks 82

Banks Loan Officer Loans Mortgages 82

Housing Wire

MAY 19, 2025

Industry veteran Jesse Allen, formerly of OneTrust Home Loans and American Advisors Group (AAG) is now leading the division as its new president. Were focused on execution, getting our sales force in front of customers, and having good conversations and manufacturing the loans well.

Mortgages 329

Mortgages Loan Officer Loans Industrial 329

Housing Wire

OCTOBER 23, 2024

On Wednesday, UWM unveiled a new cash-out refinance product —dubbed Cash-Out 90—that allows borrowers to refinance with a loan-to-value ratio of up to 89.99% without requiring mortgage insurance (MI). Loan amounts, however, cannot exceed conforming limits. UWM has debuted a new cash-out refi product without mortgage insurance.

Equity 440

Equity Loans Mortgages Loan Officer 440

Housing Wire

JANUARY 31, 2025

Evergreen Home Loans , which is based in Washington state and has a presence in seven Western states, announced a major expansion of its footprint on Friday. John Porath “John’s leadership and ability to connect with loan officers will be instrumental in driving our core conviction of growth and success for the region.

Loans 341

Loans Loan Officer Construction Banks 341

Housing Wire

DECEMBER 16, 2024

The cost to originate loans rises, alongside appraisal fees, credit reports, FICO verification , digital verification and insurance. If you’re making 20 or 25 basis points as an owner of a small or large independent mortgage bank (IMB), it’s not worth the risk. How do you determine its value?

Loan Officer 369

Loan Officer Technology Loans Banks 369

Housing Wire

OCTOBER 15, 2024

billion in mortgages over the past year, according to Modex data, and it has made no bones about tapping high-volume loan officers in targeted locations to gain market share. PrimeLending is backed by Hilltop Holdings , a holding company that includes PlainsCapital Bank and Hilltop Securities. His new shop originated roughly $5.3

Loan Officer 440

Loan Officer Banks Mortgages Industrial 440

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 427

Banks Lending Loan Officer Loans 427

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Cornerstone Servicing ’s client portal provides complete, real-time portfolio analytics and loan-level data to enable smart portfolio management. billion in assets.

Banks 392

Banks Loan Officer Lending Loans 392

Housing Wire

MARCH 6, 2025

It started 2024 with 18 loan officers and finished the year with about 90. Its fintech platform, Real Wallet, is expanding, allowing agents to apply for business checking accounts through Reals partnership with Thread Bank. Real credited its technology offerings and business model for the explosive growth in agents.

Brokerage 370

Brokerage Agents Loan Officer Technology 370

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.

Banks 392

Banks Mortgages Loan Officer Residential 392

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. For The Roscoe State Bank, Piper Sandler & Co. It funded $5.1

Lending 370

Lending Banks Commercial Loan Officer 370

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

Banks 370

Banks Loan Officer Loans Lending 370

Housing Wire

SEPTEMBER 28, 2022

On Tuesday, the fintech and PNC Bank announced a partnership that allows customers to digitally apply for a mortgage and import bank/payroll information directly into their application. PNC mortgage loan officers can also collaborate real-time with customers through their online portal, the bank said.

Banks 369

Banks Loan Officer Technology Title 369