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 404

Banks Lending Loan Officer Loans 404

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. These individuals also received inbound calls from individuals interested in obtaining mortgage loans, the order stated.

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Loan Officer Loans Banks Title 404

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% Government data from HMDA shows borrowers are saving, on average, over $9,400 over the life of a loan. Second, nearly 20,000 loan officers moved into the wholesale channel in 2023.

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Industrial Loan Officer Marketing Loans 441

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. The company’s average mortgage loan was about $1.45

Banks 370

Banks Mortgages Loans Loan Officer 370

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

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Lending Banks Commercial Loan Officer 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

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Lending Banks Loan Officer Loans 433

Housing Wire

DECEMBER 9, 2020

I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado. “They are nearly impossible to finance, thus not worth my team’s time currently. But with origination volume expected to exceed $3.4

Loans 502

Loans Closing Loan Officer Mortgages 502

Housing Wire

DECEMBER 12, 2023

PrimeLending , a Texas-based retail mortgage bank, added 12 new loan originators as it attempts to grow market share within its existing Texas footprint. In June, the lender brought on 100 loan officers and hired 33 additional LOs based in Texas since that period. billion, data from Inside Mortgage Finance showed.

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Loan Officer Loans Lending Mortgages 414

Housing Wire

JANUARY 5, 2024

But this isn’t your standard poaching lawsuit: G-Rate alleges that NAF has wooed at least 30 employees since early 2023 via illegal loan officer compensation practices. The departing employees included a divisional manager, branch and regional managers, and loan officers.

Loan Officer 450

Loan Officer Loans Banks Mortgages 450

Housing Wire

APRIL 22, 2024

Roque, who co-founded M&A and retail mortgage banking firm Menlo Co. Ohio-based CCM, which acquired Amcap Home Loans earlier this year, claims it originated $31.6 billion in loans in 2023. billion last year, according to Inside Mortgage Finance (IMF) estimates. A spokesperson for CCM said the company had no comments.

Mortgages 413

Mortgages Loan Officer Loans Banks 413

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. Really struggling.

Loan Officer 404

Loan Officer Mortgages Fixed-rate mortgage Loans 404

Housing Wire

MARCH 28, 2024

Department of Labor announced on Wednesday that they found that PrimeLending , a Texas-based retail mortgage bank, violated whistleblower provisions in a case involving two employees who raised consumer fraud concerns. PrimeLending is a wholly owned subsidiary of PlainsCapital Bank , whose parent is Hilltop Holdings Inc.

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Loan Officer Banks Loans Mortgages 424

Housing Wire

OCTOBER 11, 2021

The largest depository bank in Indiana, Old National Bank , is being sued for alleged redlining practices that spanned more than a decade. According to FHCCI, out of the 2,250 mortgage loans made by the bank from 2019 to 2020, a measly 37 were to Black borrowers across the entire Indianapolis market.

Banks 404

Banks Lending Loan Officer Loans 404

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. billion, according to data from Inside Mortgage Finance.

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Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

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Loan Officer Loans Lending Mortgages 423

Housing Wire

JUNE 22, 2023

The lender maintained their servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. Because now what they have to do is they have to go in and charge points to get their loans done,” he said. LOs at the lender receive 150 to 165 bps per loan depending on the arena, Bowlby said.

Loan Officer 370

Loan Officer Mortgages Loans Lending 370

Housing Wire

OCTOBER 9, 2023

The free app, which officially launches Tuesday, allows users to price out mortgages, personal loans and other finance products that Guaranteed Rate offers, but there’s a twist: users can also access financial, physical and mental health resources to help them “live their best lives.” As of Oct. As of Oct.

Mortgages 414

Mortgages Loan Officer Loans Technology 414

Housing Wire

FEBRUARY 1, 2024

The restructuring also includes reduced compensation for loan officers, and sources said that many are seeking new opportunities at rival lenders. ” Employees on Thursday told HousingWire that significant changes were made to loan officer compensation agreements and they expected many LOs to depart for other lenders.

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Loan Officer Loans Mortgages Banks 424

Housing Wire

MAY 26, 2022

A Florida-based loan officer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment. She could also be ordered to pay $130,000 in restitution.

Loan Officer 404

Loan Officer Loans Banks Mortgages 404

Housing Wire

DECEMBER 14, 2023

Texas-based lender Thrive Mortgage plans to merge with digital multichannel rival Lower , which will create a unified lender with more than 650 loan officers and 120 active branches across the country. In 2021, Veritex Holdings , the parent company of Veritex Community Bank , acquired a 49% stake in the lender for $53.9

Mortgages 424

Mortgages Loan Officer Banks Finance 424

Housing Wire

OCTOBER 5, 2023

Shirley Gary, Tracy Allen, Realty Group , and the Advanced Super Team ranked highest in AREAA’s real estate sales list, while Shashank Shekhar and Joanna Yu topped the loan originators rankings. The ranking was produced by RealTrends in partnership with Bank of America. billion in sales volume from 20,472 transaction sides in 2022.

Loan Officer 413

Loan Officer Mortgages Loans Banks 413

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. Stevens stressed that financing costs are prohibitively high right now and, in most cases, are not favorable for leveraged buyout deals.

Mortgages 433

Mortgages Loan Officer Loans Banks 433

Housing Wire

OCTOBER 11, 2022

Mortgage Coach , a mortgage platform that enables lenders to educate borrowers with home loan presentations, announced that its platform will be integrated with Insellerate, a customer relationship management (CRM) platform.

Mortgages 393

Mortgages Loan Officer Loans MLS 393

Housing Wire

FEBRUARY 14, 2024

Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies. BBYS products enable homeowners to tap their current home equity to purchase the new home, meaning they can make larger down payments and reduce the cost of their loans.

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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

SEPTEMBER 16, 2022

Loan Officer Freedom. Host Carl White, founder of The Mortgage Marketing Animals loan officer coaching program, shares insights for loan officers on how to close more while working less. Loan Officer Leadership. 10 Loans a Month. 10 Loans a Month. The Loan Officer Podcast.

Loan Officer 404

Loan Officer Mortgages Lending Loans 404

Housing Wire

MAY 6, 2022

In an effort to counter margin compression and satisfy a new generation of homebuyers, lenders are looking to offer loan options that better fit the average borrower. How can adding non-QM loan options help lenders make up for potential profit loss? Higher loan limits also provide greater flexibility in higher priced markets.

Loans 370

Loans Marketing Lending Loan Officer 370

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

MAY 1, 2024

He also works as vice president of field retail and director of government relations at Finance of America Reverse (FAR). I started my journey with Jim Mahoney with Financial Freedom and ended it with Kristen Sieffert with Finance of America, so I learned from two of the real giants in our industry.”

Mortgages 414

Mortgages Finance Industrial Loan Officer 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. My parents are retired, and putting my entrepreneurial and finance hats on, I just got to see challenges they face and conversations they’ve had,” she said.

Mortgages 450

Mortgages Finance Loan Officer Equity 450

Housing Wire

AUGUST 1, 2023

But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. Also in 2021, Rocket decided it needed to have some loan officers on the ground who are in close contact with real estate agents. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officer 370

Loan Officer Purchase and sale agreement Loans Mortgages 370

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. .

Loan Officer 393

Loan Officer Loans Investor Mortgages 393

Housing Wire

APRIL 18, 2024

The group will continue under the auspices of Mutual of Omaha, which currently stands as the second-largest lender in the reverse mortgage industry behind Finance of America Reverse (FAR). But as we’ve said from the very beginning, it takes loan officers sitting [face-to-face with advisers] to really get the message across.”

Equity 423

Equity Loan Officer Mortgages Industrial 423

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

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Fixed-rate mortgage Loans Mortgages Loan Officer 433

Housing Wire

NOVEMBER 2, 2023

HousingWire: How did the non-QM sector fare this year among rate increases, slow purchase volumes and the difficulties in the banking sector? MW: Non-QM provides a source of financing solutions that caters towards homeownership of a growing population of underserved borrowers in the United States. According to the U.S.

Banks 441

Banks Investor Lending Loans 441

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. a loan officer in Washington noted.

Mortgages 392

Mortgages Loan Officer Marketing Seller concession 392

Housing Wire

OCTOBER 5, 2023

“…These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” Unlike banks and credit unions, nonbanks can’t hold these [home equity] loans on their balance sheets. …

Equity 414

Equity Purchase and sale agreement Marketing Lending 414