Remove As-is Remove Branding Remove Principal Remove Sales
article thumbnail

Sales Boomerang and Mortgage Coach merge

Housing Wire

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. A unified name has not yet been determined and Sales Boomerang and Mortgage Coach will continue to operate as distinct brands, for now, the companies said.

Sales 378
article thumbnail

FHA institutes new payment supplement partial claim

Housing Wire

The new option Partial claims are interest-free loans from HUD that borrowers use to make their payments current, with the remainder of the late payments added to the principal and extended for 30 years. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae.

Principal 375
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mortgage Coach and Sales Boomerang snag new investor

Housing Wire

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 283
article thumbnail

Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM). The sale of Champion. The development is particularly notable due to the recent activity of MAM in the realm of reverse mortgage servicing.

Sales 386
article thumbnail

Rocket’s profits drop dramatically to $60M in Q2 2022

Housing Wire

The stunning decline in profitability suggests Rocket has much work to do as higher mortgage rates wipe out refinancing opportunities and even depress purchase sales. The gain-on-sale margin, however, grew from 2.78% to 2.92% in the period. . The company originated $34.5 billion in closed loans from April to June, down from $83.7

Principal 404
article thumbnail

Announcing the 2023 HW Insiders!

Housing Wire

In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations. Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success.

article thumbnail

Reverse mortgage veteran offers advice for bringing new partners aboard

Housing Wire

I take all that experience I’ve learned over time, along with the experience of some of my team members, to help them get up to speed with reverse mortgages if they’re brand new [to the business],” Schmidt explained. “I Technically, it encompasses brokers, principal agents and closed loan sellers,” he said. “We

Mortgages 326