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

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 433

Lending Banks Loan Officer Loans 433

Housing Wire

MARCH 19, 2024

New York-based Rithm Capital has changed the compensation package of its top executive, Michael Nierenberg, by reducing his annual base salary, bonus and time-based equity award. But the company also increased the performance-based share of the total equity award. Morgan , Bear Stearns , and Lehman Brothers.

Equity 410

Equity Loan Officer Principal Loans 410

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio.

Loan Officer 403

Loan Officer Commercial Investor Banks 403

Housing Wire

OCTOBER 11, 2023

The integration of CoreLogic’s AutomatIQ Borrower Income Analysis, SmartFees and property data into the DMP interface will allow loan officers can obtain crucial information about borrowers and properties at the outset of the process, CoreLogic noted. “By It then tailors that data to the home-buying process.

Mortgages 414

Mortgages Loan Officer Banks Lending 414

Housing Wire

APRIL 18, 2024

Shelley Giordano In 2019, the group exited the American College and reformed as the Academy for Home Equity in Financial Planning at the UIUC. The lender will work to keep bringing academic experts together to continue compiling and sharing data about the use — and potential use cases — of home equity in retirement.

Equity 423

Equity Loan Officer Mortgages Industrial 423

Housing Wire

SEPTEMBER 27, 2023

Rhode Island-based chartered bank Washington Trust Company has agreed to pay $9 million to settle a redlining case with the U.S. community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. However, the bank denies the allegations.

Banks 424

Banks Lending Loan Officer Equity 424

Housing Wire

AUGUST 17, 2023

5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. InstaLend is a tech-enabled real estate loan lender that provides capital to residential developers through streamlined technology and automated workflow, according to its website. Zap Mortgage (no.294)

Mortgages 370

Mortgages Loan Officer Fixed-rate mortgage Loans 370

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. HW: How has the proptech space evolved in the last 5-10 years?

Backup offer 414

Backup offer Loan Officer Home sale contingency Branding 414

Eye on Housing

MAY 10, 2022

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans.

Banks 128

Banks Loans Loan Officer Lending 128

Housing Wire

MAY 25, 2023

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. Department of Veteran Affairs (V.A.)

Mortgages 382

Mortgages FHA loan Loan Officer Banks 382

Housing Wire

OCTOBER 12, 2023

By deploying customer intelligence from Total Expert — a customer engagement platform for financial institutions — Mountain West Financial will provide automated alerts that notify its loan officers in real-time when a customer’s behavior or financial situation signals they’re a good candidate for a home loan, Total Expert said.

Loan Officer 414

Loan Officer Lending Loans Equity 414

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 382

Sales Mortgages Loans Loan Officer 382

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. Temporary rate buydowns have become a popular concession, especially among homebuilders, in which one out of 10 loans feature a seller-paid buydown, said Peter Idziak, senior associate at Polunsky Beitel Green. Layoffs, LOs leaving the industry for good.

Equity 523

Equity Marketing Loans Bankruptcy 523

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

Mortgages 464

Mortgages Lending Banks Residential 464

Eye on Housing

AUGUST 3, 2022

In the second quarter iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, banks reported largely unchanged lending standards across all residential real estate (RRE) loans. Read More ›

Lending 116

Lending Banks Loan Officer Loans 116

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. A couple of things.

Industrial 404

Industrial Mortgages Loan Officer Banks 404

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans.

Mortgages 393

Mortgages Equity Loans Seller concession 393

Eye on Housing

FEBRUARY 10, 2023

According to the Federal Reserve Board’s January 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the fourth quarter of last year—banks reported weaker demand for residential real estate (RRE) loans, home equity lines of credit (HELOCs), and commercial real estate (CRE) loans.

Loans 122

Loans Loan Officer Commercial Lending 122

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend. But for me, I do a lot of [Home Equity Conversion Mortgage (HECM)] for Purchase.

Mortgages 424

Mortgages Principal Loans Loan Officer 424

Housing Wire

JUNE 22, 2022

UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release. While loan originations dropped 29.7% billion in the first quarter of 2022, purchase loans grew to consist of 49% of the total origination volume to $19.1 UWM has aggressively put pressure on competitors.

Loans 424

Loans Loan Officer Banks Mortgages 424

Housing Wire

MARCH 20, 2024

“I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space. I really do like that,” Cabe said. “[On

Development 424

Development Industrial Mortgages Loans 424

Housing Wire

SEPTEMBER 28, 2022

The executive was most recently chief executive officer at mortgage marketing firm Volly. He also had a stint as chief information officer of mortgage and home equity lending at Bank of America. . Its total loan acquisitions and originations came in at $26.7 In loan servicing, it controlled roughly 4.1%

Mortgages 382

Mortgages Loan Officer Lending Equity 382

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. Mark Glebman, Caliber Home Loans. But for loan professionals, relief doesn’t pay the bills.

Mortgages 382

Mortgages Loan Officer Loans Equity 382

Housing Wire

SEPTEMBER 7, 2023

The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

Agents 393

Agents Loan Officer Lending MLS 393

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. But Woodward struggled to originate purchase loans. “I Without that being built, I was starting from scratch.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

SEPTEMBER 1, 2022

If you were the lender that provided the customer’s last loan, you’re usually out. You wouldn’t know the customer needs credit unless they literally told a loan officer or applied on your website. They think of contacting a Realtor first. The Realtor then refers to lenders they trust.

Equity 378

Equity Loan Officer MLS Loans 378

Housing Wire

APRIL 1, 2024

billion in mortgage loans in 2023, according to Kortas. As of Monday, the company had 2,391 sponsored mortgage loan officers, per the Nationwide Multistate Licensing System (NMLS). The lawsuit states that Kortas controls the company, bank accounts, and profit distributions. The lawsuit states that Kortas had 50.5%

Loan Officer 414

Loan Officer Brokerage Mortgages Loans 414

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands.

Lending 382

Lending Loan Officer Finance Loans 382

Housing Wire

JANUARY 26, 2022

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. LLR Partners, which led a $26.5

Investor 378

Investor Sales Mortgages Loan Officer 378

Housing Wire

AUGUST 13, 2021

Today it’s over 70% at big banks, and between 95% to 99% for top producers. Most loan officers lose 70% of their past customers because they don’t have the process or tools to manage the relationship forward. However, the real threat right now is in the emerging banking-as-a-service. Tech becomes fintech.

Loan Officer 442

Loan Officer Technology Loans Mortgages 442

Realty Biz

SEPTEMBER 19, 2023

NON-QM mortgage loans open up opportunities for a wider range of borrowers to achieve their homeownership and investment objectives. For the past six years, Stratton Equities has been at the forefront as the nation's top private money and NON-QM mortgage lender, setting the pace for other companies to follow.

Equity 84

Equity Mortgages Lending Loans 84

Housing Wire

JUNE 6, 2022

Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022. Wells Fargo will be providing severance and career counseling, and helping affected employees identify other positions within the bank.

Mortgages 414

Mortgages Loan Officer Lending Loans 414

Housing Wire

MARCH 29, 2024

Anna Frankowska was recognized in 2017 as one of Forbes’ “ 30 Under 30 ” in Europe, having studied economics in London before moving to work in investment banking. I came to their offices to speak to their loan officers, processors and customers because they told me, ‘We would love to do more.

Mortgages 450

Mortgages Finance Loan Officer Equity 450

Housing Wire

JANUARY 27, 2021

Roostify, which powers the digital mortgage platforms of JPMorgan Chase , TD Bank , Guild Mortgage , HSBC Bank USA and more, allows different lending parties to bring in data and information from online sources that then tailors the homebuying process.

Lending 370

Lending Technology Loan Officer Equity 370

Housing Wire

AUGUST 12, 2020

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Among its dozens of limited partners are major banks, which are the kinds of customers Blend is servicing, Mayopoulus pointed out. Stay tuned for updates.

Loans 488

Loans Banks Loan Officer Branding 488

Housing Wire

APRIL 25, 2022

It has about 350 loan officers and roughly 100 retail branches. . In 2020, the company acquired First Choice Loan Services , a New Jersey-based mortgage company with offices in 15 states. It provides purchases, refinances, and home equity products. CrossCountry has been acquisitive over the last couple of years.

Purchase and sale agreement 382

Purchase and sale agreement Loan Officer Loans Mortgages 382