Housing Wire

FEBRUARY 14, 2024

is expected to expand the retail lender’s presence in Western states and also bring in expertise with builder products, Guild CEO Terry Schmidt said in an exclusive interview with HousingWire. The acquisition of Academy’s retail assets is scheduled to close by the end of February. Guild Mortgage ’s acquisition of Academy Mortgage Corp.

Mortgages 417

Mortgages Loan Officer Loans Closing 417

Housing Wire

FEBRUARY 21, 2024

Over the past couple of years, I have learned that Guaranteed Rate is truly the company with all the tools and the platform to help originators grow their business and provide the best service for customers and clients.” 4 retail mortgage lender in the U.S., “I am so happy to be returning home to Guaranteed Rate,” Nelson said.

Lending 409

Lending Mortgages Sales As-is 409

Housing Wire

SEPTEMBER 7, 2023

Equity Prime Mortgage (EPM) has completely shifted to the TPO business after seeing growth opportunities in the wholesale channel, a distribution channel that’s been growing in recent years. The Atlanta-based lender has fully exited the retail channel, a change in strategy the company has been preparing for over the past few months.

Loan Officer 396

Loan Officer Loans Lending Mortgages 396

Housing Wire

APRIL 30, 2024

After striking two M&A deals late last year, digital multichannel lender Lower plans to acquire at least one other business in 2024. Universal president and industry veteran TJ Kennedy leads its retail and wholesale channels. Founded in Denver in 1981, Universal added 60 loan officers to Lower.

Loan Officer 287

Loan Officer Banks Lending Loans 287

Housing Wire

MARCH 7, 2024

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said. Its strategy has focused on acquisitions in both correspondent and retail channels.

Lending 396

Lending Loans Renovation Mortgages 396

Realty Biz

SEPTEMBER 12, 2022

Italy has a lucrative retail marketplace, making it an attractive destination for international entrepreneurs. The regulatory landscape is liberal, and tax laws are favorable, so you need not worry about launching a retail venture in the country. Getting access to the Italian passport opens up expansion opportunities for your business.

Investor 56

Investor As-is Marketing 56

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). on a per-unit basis.

Mortgages 386

Mortgages Loans Equity Principal 386

Housing Wire

DECEMBER 27, 2023

The California-based retail lender has set a target of becoming a top-10 lender in the markets in which it has a presence, which would give it about 2% in overall market share. The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. It won’t be easy.

Mortgages 403

Mortgages Bankruptcy Lending Loan Officer 403

Housing Wire

OCTOBER 18, 2023

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. “There’s definitely a shift and while we know there is a lot of movement going on with people losing jobs because of mergers or closures, a certain percentage are moving to brokerage instead of another retail company.”

Loan Officer 515

Loan Officer Loans Lending Mortgages 515

Housing Wire

JANUARY 29, 2024

Through the All-In Initiative, or “ultimatum,” UWM had ended its business relationship with brokers who chose to continue originating loans to Rocket and Fairway. The decision was made because the company believes the retail lenders’ business model negatively impacts consumers, brokers, and the wholesale channel, it claims.

Loan Officer 438

Loan Officer Lending Loans Mortgages 438

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Closing 432

Closing Finance Commercial Mortgages 432

Housing Wire

MARCH 30, 2023

New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. In addition, the company’s CEO, Peter Norden, will act as executive advisor to CMG’s retail division to ensure a successful transition. mortgage lender by volume last year.

Loan Officer 400

Loan Officer Technology Mortgages Loans 400

Housing Wire

OCTOBER 11, 2023

The SLS platform for us is very much the focus as to how we think about fee-based income and third-party business,” Baron Silverstein, president at NewRez , a subsidiary of Rithm, said on Wednesday afternoon during the HousingWire Annual conference, held Oct. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 440

Principal Loans Investor Finance 440

Housing Wire

NOVEMBER 15, 2023

Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. billion in mortgages through the retail channel, a 60.3% In 2018, it acquired Franklin American Mortgage. In the first half of the year, Citizens originated $2.4 Correspondent channel volume came in at $2.5

Banks 433

Banks Mortgages Finance Brokerage 433

Housing Wire

APRIL 24, 2024

Gallo previously shared perspectives with HousingWire on his business strategy for 2023 after enduring challenges in 2022. His webpage at CCM was taken down on Wednesday, and a spokesperson for the Cleveland-based retail lender did not immediately return a request for comment.

Mortgages 542

Mortgages Loans Banks Finance 542

Housing Wire

NOVEMBER 21, 2023

In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint. California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England.

Loan Officer 382

Loan Officer Lending Loans Finance 382

Housing Wire

MARCH 12, 2024

Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans. Unlike off-the-shelf POS solutions, Blueprint Builder allows lenders to customize technology that is designed to help improve operations, Maxwell noted.

Lending 382

Lending Technology Loans Equity 382

Housing Wire

APRIL 12, 2024

The bank completed its exit from the correspondent business last year, so it did not provide figures for that channel. All of its production in Q1 2024 came from its retail branches and was mainly focused on purchase loans. Retail volume came in at $4.4 Wells Fargo’s volume declined to $3.5 billion in Q1 2024.

Mortgages 408

Mortgages Banks Fixed-rate mortgage Lending 408

Housing Wire

MARCH 6, 2023

struck a deal to acquire the retail division of Homebridge Financial Services , the companies announced on Monday. CMG Mortgage, which claims it originated more than $19 billion in 2022, said the M&A deal seeks to increase its footprint on the retail lending business. California-based CMG Mortgage, Inc.

Lending 384

Lending Technology Mortgages Loans 384

Housing Wire

DECEMBER 14, 2023

Both companies generated most of their origination volume through the retail channel. Veritex is expected to keep a stake in the business following the Thrive and Lower merger. It operates an online consumer-direct channel, an offline retail channel, and a third-party origination platform servicing brokers and other fintechs.

Mortgages 423

Mortgages Loan Officer Banks Finance 423

Housing Wire

JANUARY 25, 2024

Haddad’s nomination shows AIME’s commitment to attracting more retail loan officers to the broker channel. According to the trade group, under his leadership, it will focus, among other initiatives, on “retail to wholesale originator recruitment.” The analysis includes first-lien mortgage originations.

Lending 401

Lending Loan Officer Loans Mortgages 401

Housing Wire

FEBRUARY 13, 2024

as senior vice president of strategic business operations at Stearns Lending , and as vice president of correspondent operations at Nationstar Mortgage. offers conventional mortgage products as well as nonagency loans its through correspondent , wholesale and retail channels. Established in 1949, Logan Finance Corp.

Finance 405

Finance Lending Banks Loans 405

Housing Wire

AUGUST 1, 2023

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officer 366

Loan Officer Purchase and sale agreement Loans Mortgages 366

Housing Wire

DECEMBER 9, 2022

Margin compression, higher mortgage rates, and a purchase-focused market are dictating more sales process control among loan officers and fewer layers of bureaucracy in retail lenders. And, according to Covey, the changes are necessary in traditional retail lenders to navigate the industry headwinds. “LOs

Mortgages 410

Mortgages Loan Officer Loans Industrial 410

Housing Wire

JANUARY 31, 2023

(NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement.

Mortgages 366

Mortgages Lending Banks Commercial 366

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Commercial 378

Commercial Finance Loans Mortgages 378

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp.,

Loans 402

Loans Bankruptcy Sales Commercial 402

Housing Wire

NOVEMBER 8, 2023

The purchase-focused lender with a distributed retail model emphasized its growth strategy of gaining purchase market share through acquisitions and bringing on high-performing originators as the industry continues to see muted demand for mortgages. million with its origination business in Q3, up from a net loss of $21.3

Principal 406

Principal Loans Mortgages Industrial 406

Housing Wire

MARCH 6, 2024

The typically busy spring housing market seems to already be at the doorstep despite stubbornly higher mortgage rates. retail residential mortgage applications. Mortgage applications increased by 9.7% It was the first increase in mortgage demand in three weeks. the week before. And the U.S.

Mortgages 431

Mortgages FHA loan Loans Residential 431

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Production declined 25% to $5.49 billion in 2022 from the previous year’s volume of $7.29

Lending 377

Lending Banks Finance Loans 377

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. The pullback in retail was not as severe as the one in wholesale.

Mortgages 365

Mortgages Equity Loans Industrial 365

Housing Wire

OCTOBER 11, 2022

The first Walmart -based in-store branch from retail mortgage cooperative Lenders One opened this week in Newton, New Jersey. Family First Funding , a Toms River, New Jersey-based retail lender, opened a branch in the Walmart in Newton on Monday, Lenders One said in a statement. Family First, which has done about $1.9

Banks 384

Banks Lending Mortgages Equity 384

Housing Wire

APRIL 24, 2024

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. After learning about his path into the business , RMD sat down with Schmidt to learn more about his approach for enlisting new partners at FAR and across the wider industry. The response was swift.

Mortgages 359

Mortgages Loan Officer Principal Loans 359

Housing Wire

MARCH 6, 2024

While at Newrez, he was named as HousingWire’s 2022 Marketing Leader and was a 2019 Rising Star award winner for scaling Newrez’s retention business. It prides itself on being a fintech company that does retail lending. John joined Newrez in June 2018 as vice president of marketing and was promoted to head of marketing in 2022.

Marketing 399

Marketing Loan Officer Lending Loans 399

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). The business grew to $9.8 ” But not yet. ” But not yet.

Mortgages 409

Mortgages Banks Lending Equity 409

Housing Wire

MAY 23, 2023

A look back: The early 2023 housing slowdown Bidding behavior on the Auction.com platform provides one of the best barometers of the retail housing market because the success and livelihood of these bidders depends heavily on them accurately anticipating what the retail market will look like in the next six months.

Marketing 428

Marketing Sales Mortgages As-is 428

Housing Wire

FEBRUARY 5, 2024

Before joining OneTrust Home Loans, Hecht served as head of production and executive vice president for national retail lending at Newrez , formerly known as Caliber Home Loans.

Loans 389

Loans Lending Construction Banks 389