Housing Wire

JUNE 28, 2024

a provider of shared equity financing products, announced Thursday that it hired Paul Giangrande as a corporate executive vice president and president of its mortgage division. At AmeriCash, he oversaw more than 300 employees and helped the company close more than $18 billion in home loans. San Jose -based EquiFi Corp. ,

Equity 392

Equity Purchase and sale agreement Mortgages Finance 392

Housing Wire

NOVEMBER 5, 2024

It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. year over year. Department of Veterans Affairs (VA) space.

Purchase and sale agreement 392

Purchase and sale agreement Equity Loan Officer Principal 392

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. The annual investment volume in the U.S.

Equity 461

Equity Finance Purchase and sale agreement Investor 461

Housing Wire

MAY 21, 2024

NEXA Mortgage , the largest mortgage brokerage firm in the U.S., will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas. NEXA usually pays loan officers 220 basis points (bps) out of 275 bps on most loans.

Loan Officer 451

Loan Officer Loans Brokerage Equity 451

Housing Wire

JULY 15, 2022

Mortgage brokerage Edison Mortgage, which works with more than 50 lenders, reached $1 billion (CAD) in annualized submitted volume in March 2020, according to the firm. The post Canadian mortgage brokerage takes Rocket Mortgage name appeared first on HousingWire. It previously acquired Lendesk, a Canadian fintech company.

Brokerage 427

Brokerage Mortgages Banks Lending 427

Housing Wire

MARCH 8, 2024

homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Kim: There are a handful of home equity investment firms in the market. Based on the notion that far too many U.S.

Equity 455

Equity Marketing Investor Loans 455

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 370

Loans Equity Lending Title 370

Housing Wire

JULY 12, 2021

The company, which is expected to go public later this year, has agreed to acquire United Kingdom-based digital mortgage brokerage Trussle. Terms of the deal were not disclosed, but the Financial Times reported that SoftBank -backed Better bought Trussle for a “cut-price,” one that values the mortgage brokerage at just $9 million.

Brokerage 440

Brokerage Mortgages Loan Officer Banks 440

Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

Debt-to-income ratio 316

Debt-to-income ratio Agents VA loan MLS 316

Housing Wire

MAY 20, 2025

But we’re also diversifying in the field through our brokers as well as our local loan officers, and well be able to add to that through the Redfin acquisition as well here very soon, Lovier said on stage during the Mortgage Bankers Association (MBA) Secondary and Capital Markets Conference in New York on Tuesday.

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Loan Officer Loans Staging Equity 244

Housing Wire

SEPTEMBER 23, 2024

Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions , which will include reverse mortgages and other home equity-based lending instruments.

Lending 440

Lending Mortgages Equity Loan Officer 440

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. Kortas told HousingWire that he owns 50.5% NEXA did $6.29

Mortgages 461

Mortgages Brokerage Loan Officer Lending 461

Housing Wire

MAY 16, 2025

The analysis is based on Redfins national data, including home sales closed by Redfin agents, partner-agent referrals, and transactions involving Redfin-owned Bay Equity Home Loans. It is, however, down from 2.43% in the first quarter of last year.

Agents 351

Agents New Construction Equity Construction 351

Housing Wire

NOVEMBER 17, 2021

On Wednesday, the brokerage announced perhaps its biggest move ever outside the Windy City, stating that they have acquired Christie’s International Real Estate , a New York City-based brokerage. The brokerage was founded 2000 by Thad Wong and Mike Golden , who remain the companies’ co-CEO’s. The deal is set to close Dec.

Brokerage 440

Brokerage Residential Equity Branding 440

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 411

Mortgages Equity Loans Seller concession 411

Housing Wire

FEBRUARY 14, 2025

In response, many brokerage firms have adapted their business models to navigate these challenges. brokerage firms continues to decline, sitting near 10% by the end of 2024. Additionally, segmentation among brokerage firms is likely to increase, driven by differences in cost structures and technology adoption.

Brokerage 259

Brokerage Residential Industrial Technology 259

Housing Wire

APRIL 4, 2022

Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8 million premium over Bay Equity’s tangible book value” as of Feb. 22, according to the news release.The move allows Redfin agents in 91 markets to begin referring customers to one of 400 local Bay Equity loan officers as of Monday.

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Closing Mortgages Loan Officer Pre-approval 370

Housing Wire

JULY 18, 2022

Purchase-focused lenders that didn’t balloon in size to capture refinancing business during the boom, in particular, are looking to hire loan officers. And mortgage brokerages, which don’t have the burden of high overhead, are heavily recruiting retail LOs whose pipelines have thinned in recent months.

Mortgages 469

Mortgages Banks Brokerage Loans 469

Housing Wire

JUNE 24, 2021

After years of aggregating behavioral data from homebuyers and homesellers at the largest real estate brokerages in the country, Buyside is proud to announce the launch of their expansion into core & ancillary services by focusing on the homeowner.

Pre-approval 407

Pre-approval Equity Loan Officer Brokerage 407

Housing Wire

JANUARY 13, 2021

In 2017, Guaranteed Rate struck a deal with the largest real estate brokerage conglomerate in the country, Realogy , to form a landmark joint venture. It has paid off in spades: the combined company, Guaranteed Rate Affinity , originated $5 billion in loans during the first half of last year. But one JV in particular had eluded him.

Brokerage 426

Brokerage Equity Loans Finance 426

Housing Wire

JUNE 14, 2022

A brokerage owner in Brooklyn, Kevin Leibowitz, said he hasn’t seen enough lenders expand the credit box to get more borrowers, but he expects loans will be loosely underwritten compared to two years ago. . The post Credit scores dropped in May, but what does that mean?

Equity 370

Equity Lending Loans Mortgages 370

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). to 358 loans).

Mortgages 451

Mortgages Loans Equity Principal 451

Housing Wire

SEPTEMBER 25, 2024

NEXA has accused Grella of causing the failure of a $24 million hangar-office property purchase and the brokerage firm is preparing to file an amended complaint. Kortas and Grella founded NEXA seven years ago after leaving Equity Prime Mortgage. The saga began in March when Grella was terminated from NEXA amid buyout negotiations.

Mortgages 427

Mortgages Due diligence Brokerage Loan Officer 427

Housing Wire

FEBRUARY 3, 2021

Federal authorities this week announced multiple fraud charges against real estate developer Andrzej Lajewski, 53; loan originator Agnieszka Siekowski, 46; loan processor Aldona Bobrowicz, 45; and home remodeler Andrzej Bukowski, 66. Attorney’s Office in Chicago said Tuesday. Presented by: FundingShield.

Mortgages 411

Mortgages Loans Banks Lending 411

Housing Wire

FEBRUARY 16, 2021

million in equity financing and $17.5 UpEquity essentially makes free cash offers but charges interest – currently 2.5% – on the loans it provides to homeowners, who can make an offer on a house without having to go through a bank to get a mortgage. How this real estate brokerage’s unique model generates more profit for agents.

Loans 364

Loans Equity Technology Mortgages 364

Housing Wire

FEBRUARY 18, 2022

You can’t please all the people all of the time, but Redfin is a unique real estate brokerage , an instant homebuyer, a popular listings website, a platform for renters, a mortgage company, a title company, a concierge service, and a research service on the U.S. housing market. What does that all add up to?

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Bankruptcy Brokerage Title Equity 411

Housing Wire

MARCH 18, 2021

Offerpad will also receive a $200 million commitment from private equity investors such as BlackRock and Zimmer Partners. Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors.

Loan Officer 451

Loan Officer Technology Equity Brokerage 451

Housing Wire

JANUARY 5, 2021

The platform allows loan officers to become “mobile originators,” using their smartphones to view applications, pull credit reports and oversee all aspects of the loan process while connecting in real-time to their LOS.

Loan Officer 411

Loan Officer Lending Equity Mortgages 411

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. billion in loans over the first six months of 2022 — for total proceeds of $871.7 UWM’s loan production income of $296.5

Loan Officer 427

Loan Officer Loans Equity Mortgages 427

Housing Wire

FEBRUARY 24, 2022

But like real estate brokerage Compass , another company significantly financed by the SoftBank Vision Fund , Opendoor has constructed an empirically money-losing business model with little sign of reversing course. One hypothetical path to profitability is ancillary services, particularly Opendoor mortgage loans and title insurance.

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Title Investor Finance Brokerage 451

Housing Wire

FEBRUARY 26, 2024

Reverse mortgage loan originators all seem to agree that 2024 is off to a better overall start in business than a tepid 2023 might suggest. When the property no longer serves as the borrower’s primary residence, the remaining loan balance is paid back. Florida is already an extremely popular retirement destination in the U.S.,

Marketing 440

Marketing Fixed-rate mortgage Loans Mortgages 440

Housing Wire

AUGUST 20, 2021

Congratulations to all of the entrepreneurs, founders and executives who have survived the onslaught of phone calls, emails and DMs from first-year private equity associates (yeah… we’re looking at you Summit Partners ….). Aaron Strawn, senior loan officer at Ruoff Mortgage (294% growth) pointed to his company’s leadership. “We

Title 469

Title Equity Mortgages Loan Officer 469

Housing Wire

APRIL 1, 2024

NEXA’s businesses America’s largest mortgage brokerage, NEXA originated $6.29 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 had 50.5%

Loan Officer 440

Loan Officer Brokerage Mortgages Loans 440

Housing Wire

OCTOBER 25, 2022

The company is working with commercial brokerage Eastdil Secured to find a partner for a $1 billion joint venture, according to Bloomberg’s sources. The company had received a $1 billion, interest-only loan in 2017. The search for a partner is in the early stages and is not guaranteed to materialize, Bloomberg reported.

Commercial 370

Commercial Investor Staging Equity 370

Housing Wire

AUGUST 16, 2022

“The edge that we have as a local lender focusing on Maryland and the Mid-Atlantic is to meet with investors in person and closing loans more quickly than national lenders,” said Joshua Shein, partner at Trius Lending. We raise funds from outside investors and that’s how we fund these loans. 1673, with growth of 372%.

Mortgages 370

Mortgages Lending Investor Loans 370

Housing Wire

JUNE 26, 2024

” Kortas and Grella founded NEXA in 2017 after they left Equity Prime Mortgage. mortgage brokerage firm, with 2,570 licensed loan officers and 239 active branches, per the Nationwide Multistate Licensing System ( NMLS ). As of Wednesday, NEXA was the largest U.S.

Title 386

Title Brokerage Loan Officer Mortgages 386

Housing Wire

AUGUST 23, 2024

Let’s talk about the brokerage aspect. What brokerage wants that publicity? Kleimann: One theory I’ve heard is that we’re going to return to a version of subagency for some buyers, especially in the lower price brackets, where maybe the buyer got an FHA loan and had to get a down payment assistance package.

FHA loan 425

FHA loan Agents Brokerage Staging 425