Finance, Loan Officer and Mortgages - Residential Realty Today

FinLocker says it will cover 100% of mortgage verification costs

Housing Wire

MARCH 27, 2025

Self-branded “financial fitness” platform FinLocker announced Wednesday that it will cover 100% of the verification costs for mortgage borrowers who use lenders’ FinLocker-powered apps. This is about fundamentally transforming how the mortgage ecosystem works together.” ”

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Rocket-Redfin deal sparks uncertainty over Bay Equity’s future

Housing Wire

APRIL 28, 2025

Bay has encouraged us to start looking [for a job] as Rocket is really only offering loan officer positions at this time, an employee told HousingWire under the condition of anonymity for fear of affecting job prospects. billion in loans in 2021nearly 10 times Redfins in-house mortgage volume. They will be a great fit.

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FOA lowers rate, expands HomeSafe Second reverse mortgage into new states

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. The interest rate on the loan has been lowered from 9.99% to 9.49%. The new states are Arizona, Nevada, Oregon and Utah.

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Younger homebuyers have concerns over AI’s role in the mortgage process

Housing Wire

OCTOBER 23, 2024

Even as artificial intelligence (AI) becomes more prominent in the mortgage industry, most millennial and Generation Z homebuyers are hesitant to rely solely on a fully automated application process to get a loan, according to a new study. About 58% of respondents still relied on loan officers to guide them through the process.

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More homebuyers seek government-backed loans as an affordability lifeline

Housing Wire

FEBRUARY 3, 2025

The combined cost of mortgages, taxes and insurance now takes up a larger share of household income than it has since the early 1980s, according to an affordability index from John Burns Research & Consulting. High-cost markets, for example, may be less keen on accepting FHA or VA loans over their conventional counterparts.

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Homebuyers are taking more risks in an obstacle-filled market

Housing Wire

MARCH 21, 2025

housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. Many first-time homebuyers are stretching their finances to the limit. The affordability crisis extends beyond mortgage payments. ADU is a big requirement now.

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Zillow says recent homebuyers are getting creative to combat high mortgage rates

Housing Wire

NOVEMBER 1, 2024

With mortgage rates moving closer to 7% once again, recent homebuyers are finding creative ways to lock in lower rates. This comes despite rising mortgage rates and a 115% increase in the typical mortgage payment compared to pre-pandemic levels. There are also nontraditional loan types such as an adjustable-rate mortgage (ARM).

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Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Housing Wire

OCTOBER 15, 2024

Fairway Independent Mortgage Corp. Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. The agreement, which was submitted for court approval, requires the Madison, Wisconsin-based mortgage lender to pay a $1.9

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Movement Mortgage names Steve Smith president and CFO

Housing Wire

NOVEMBER 13, 2024

Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. compared to the same period last year, according to Inside Mortgage Finance (IMF). The announcement was made Wednesday.

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Better’s AI bots might take over mortgages — but its losses are still piling up

Housing Wire

NOVEMBER 13, 2024

Better Home & Finance Holding Co., The company also reported a funded loan volume of $1.035 billion for Q3 2024, up 42% year over year and up 8% quarter over quarter, with 71% of this volume attributed to purchase loans. the parent of digital lender Better , reported a net loss of $54.1 By comparison, the company lost $41.4

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Milestone Mortgage acquires Willow Home Loans with ‘goal to be No. 1’

Housing Wire

MARCH 11, 2025

Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. ” Russell Petty, the founder of North Carolina -based Willow (formerly Grow Mortgage), said he expects to do $1 billion in origination volume in 2025.

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CrossCountry Mortgage hires former Pennymac execs

Housing Wire

NOVEMBER 14, 2024

CrossCountry Mortgage , a top-10 U.S. mortgage lender, has hired a team of former Pennymac Financial Services executives to lead its capital markets and investment-related activities. Fartaj stepped down as Pennymac’s senior managing director and chief investment officer in March 2023 , after 15 years at the company.

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The future of mortgage professionals: Adapting to a changing market

Housing Wire

MARCH 14, 2025

The mortgage professional of the future goes beyond the transaction. Our mortgage industry is experiencing a fundamental shift. Traditional loan officers who focus solely on transactions are being replaced by mortgage professionals who act as financial strategists, long-term advisors, and educators.

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zavvie launches HomeFAI, an AI-powered alternative financing system

Housing Wire

MARCH 12, 2025

This is AI meets modern home financing and its transforming the way people buy homes, Lane Hornung , co-founder and CEO of zavvie, said in a statement. Our new platform brings unprecedented speed and certainty to home financing, helping loan officers and their clients win more deals.

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Rate hires Connie Lindsay as SVP of mortgage lending in Washington

Housing Wire

DECEMBER 4, 2024

Top 10 mortgage lender Rate — previously known as Guaranteed Rate — announced a new promotion on Wednesday. The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. Most recently, Lindsay served as a mortgage loan officer at U.S.

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New American Funding onboards top Chicago loan officer

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

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NEXA to give 100% of commission split to loan officers

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.

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Spring selling: Lenders must rethink strategies to keep homeownership within reach

Housing Wire

APRIL 22, 2025

The average 30-year fixed mortgage rate sits around 6.8% This means empowering loan officers with the tools and training they need to serve todays buyersfast preapprovals, clear communication and seamless closings. Offering one-on-one consultations to walk buyers through mortgage scenarios.

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“Last night, my Uber driver was a loan officer.”

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Charting the loan officer exit. million. .

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Are you prepared to respond as borrower demand shifts?

Housing Wire

OCTOBER 28, 2024

Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index.

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Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

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Dustin Owen schools agents on key tips for the mortgage financing process

Housing Wire

SEPTEMBER 27, 2024

In a recent episode of “The Loan Officer Podcast,” host Dustin Owen and guest John Coleman explore key tips that all aspiring real estate agents should know when navigating mortgage financing for a potential client. As a result, many condo deals don’t close due to a lack of understanding on the agent’s part.

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Loan officers are dramatically cutting their pay to win clients. It’s often illegal.

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. It was late 2022 and Mike was feeling the pressure. The lower comp rate stung.

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Better launches voice-based AI loan assistant

Housing Wire

OCTOBER 17, 2024

Better Home & Finance, the parent company of digital lender Better.com , launched its voice-based artificial intelligence loan assistant on Thursday. Vishal Garg , founder and CEO of Better, said in a statement that “fulfilling a mortgage loan is labor-intensive and rules-driven, but Betsy automates the process.”

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Reverse mortgage endorsements fell as HMBS issuance rose in March

Housing Wire

APRIL 7, 2025

Reverse mortgage industry performance metrics have continued their soft trend into the third month of the year, though activity in the secondary market was slightly higher than the month prior. to 53 loans, its highest monthly figure since September, according to RMI. to 66 loans. Mutuals endorsement count fell by 2.1%

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FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The problem is, a mortgage credit reject (MCR) is kind of like your scarlet letter, to be completely honest,” Gastelum said. That changed on September 11.

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Reverse mortgage industry descends on California for first NRMLA event of 2025

Housing Wire

APRIL 25, 2025

Reverse mortgage professionals are preparing to travel to Irvine, California, for the industrys first event of the year, hosted by the National Reverse Mortgage Lenders Association (NRMLA). One-day format For a one-day regional meeting, were very pleased, Irwin said in an interview with HousingWire s Reverse Mortgage Daily (RMD).

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

JANUARY 17, 2024

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? They own the home with their name on the title, as with any mortgage, traditional or reverse. Yet staggeringly few are aware of its existence.

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LoanSnap troubles continue as California revokes its lender license

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The company — which is headquartered in Costa Mesa, California — also lost its mortgage lender license in Connecticut earlier this month.

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Rocket is acquiring Redfin’s huge flow of purchase leads. Can the mortgage giant convert them?

Housing Wire

MARCH 20, 2025

It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage ‘s pending $1.75 After the deal was announced, CEO Varun Krishna told investors that he expects a lift in purchase mortgage growth after the deal closes. Essentially, it’s the holy grail of mortgage and real estate tech.

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No. 1 originator Shant Banosian named president of Rate

Housing Wire

MARCH 5, 2025

1 loan originator in the country by volume for at least five years, is assuming the role of president at Rate Mortgage , the company announced Tuesday. 8 on the Inside Mortgage Finance ranking of top originators at just under $40 billion. 1 mortgage company in America. 1 mortgage company in the country.

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Chris Franquemont returns to Rate after move to CrossCountry

Housing Wire

FEBRUARY 19, 2025

His return follows a brief stint with CrossCountry Mortgage. Chris Franquemont Franquemont returns to Guaranteed Rate after a one-year stint as CrossCountry Mortgage’s senior vice president of mortgage lending, producing branch manager. Franquemont funded $38 million across 103 loans 2024 alone, according to Rate.

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Eyeing expansion, Go Mortgage snags 160+ former FoA employees

Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200. Go Mortgage originated $753.2

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As mortgage rates near 8%, loan originators target first-time homebuyers

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

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Arrival Home Loans partners with fintech zavvie

Housing Wire

FEBRUARY 4, 2025

” “We are thrilled to partner with zavvie to make Arrival’s products available to zavvie’s impressive network of loan officers and real estate agents ,” Simon Chen, CEO of Arrival Home Loans, said in a statement. Arrival Home Loans, which is powered by Pacific Private Money Inc.

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Evergreen Home Loans expands to five Southeast states

Housing Wire

JANUARY 31, 2025

John Porath “John’s leadership and ability to connect with loan officers will be instrumental in driving our core conviction of growth and success for the region. We’re excited to welcome him to the Evergreen Home Loans family.” His career began in 1989 as a loan officer with Norwest Mortgage.

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MBA teams with Cleveland State University on mortgage banking education program

Housing Wire

JANUARY 21, 2025

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. Last week, our first class was led by Jen Peachman from GVC Mortgage. 15 and goes until the end of April, Hoffman told HousingWire. Lectures are done by MBA members.

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Zillow is still in the red, but its major revenue streams are rising

Housing Wire

FEBRUARY 11, 2025

Its mortgage origination business is one of the companys links in the end-to-end transaction, and its revenue in this category continues to rebound after it peaked during the post-COVID housing boom. In 2024, Zillow earned $145 million in its mortgage origination channel, up 51% year over year.

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Deephaven’s Tom Davis: ‘Either you take market share, or someone takes yours’

Housing Wire

JANUARY 30, 2025

In this week’s episode of the Power House podcast, host and HousingWire President Diego Sanchez chats with Tom Davis , chief sales officer at Deephaven Mortgage. Diego: We’ve kicked off 2025 with mortgage rates that haven’t done much except go a little bit higher.

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Rocket vs Zillow: The battle for ‘super app’ supremacy

Housing Wire

MARCH 21, 2025

As industry analyst Mike Delprete put it in a recent blog post , both firms are now in search of the holy grail of real estate: a one-stop shop that combines home search, buy & sell, financing, and title insurance. Rocket’s strength in mortgage But when it comes to mortgage, Rocket has the clear advantage.

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Movement Mortgage acquires brokerage Superior Rate

Housing Wire

AUGUST 25, 2022

South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. The acquisition is another step to boost its sales amid shrinking loan origination volumes. The terms of the deal were not disclosed.

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Real Brokerage leverages agent count growth for soaring revenue

Housing Wire

MARCH 6, 2025

Real also added head count to its nascent mortgage business. It started 2024 with 18 loan officers and finished the year with about 90. This allowed the company to grow its mortgage revenue from $1.2 The company said about 40 independent brokerages with about 2,200 agents in total joined under these terms.

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Homebot home education portal acquires mobile app firm Quo Finance

Housing Wire

MARCH 22, 2023

Homebot , a home education portal that keeps people connected to their loan officers and real estate agents, acquired Quo Finance , a mobile app for first-time homebuyers. Quo’s team, led by co-founders Tucker Hass and Neel Yerneni, will join Homebot. Terms of the transaction were not disclosed.

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Open Mortgage has FHA direct endorsement authority terminated in Iowa

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

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FinLocker says it will cover 100% of mortgage verification costs

Rocket-Redfin deal sparks uncertainty over Bay Equity’s future

Trending Sources

FOA lowers rate, expands HomeSafe Second reverse mortgage into new states

Younger homebuyers have concerns over AI’s role in the mortgage process

More homebuyers seek government-backed loans as an affordability lifeline

Homebuyers are taking more risks in an obstacle-filled market

Zillow says recent homebuyers are getting creative to combat high mortgage rates

Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Movement Mortgage names Steve Smith president and CFO

Better’s AI bots might take over mortgages — but its losses are still piling up

Milestone Mortgage acquires Willow Home Loans with ‘goal to be No. 1’

CrossCountry Mortgage hires former Pennymac execs

The future of mortgage professionals: Adapting to a changing market

zavvie launches HomeFAI, an AI-powered alternative financing system

Rate hires Connie Lindsay as SVP of mortgage lending in Washington

New American Funding onboards top Chicago loan officer

NEXA to give 100% of commission split to loan officers

Spring selling: Lenders must rethink strategies to keep homeownership within reach

“Last night, my Uber driver was a loan officer.”

Are you prepared to respond as borrower demand shifts?

Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Dustin Owen schools agents on key tips for the mortgage financing process

Loan officers are dramatically cutting their pay to win clients. It’s often illegal.

Better launches voice-based AI loan assistant

Reverse mortgage endorsements fell as HMBS issuance rose in March

FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Reverse mortgage industry descends on California for first NRMLA event of 2025

Reverse purchase financing: The financing option no one is talking about

LoanSnap troubles continue as California revokes its lender license

Rocket is acquiring Redfin’s huge flow of purchase leads. Can the mortgage giant convert them?

No. 1 originator Shant Banosian named president of Rate

Chris Franquemont returns to Rate after move to CrossCountry

Eyeing expansion, Go Mortgage snags 160+ former FoA employees

As mortgage rates near 8%, loan originators target first-time homebuyers

Arrival Home Loans partners with fintech zavvie

Evergreen Home Loans expands to five Southeast states

MBA teams with Cleveland State University on mortgage banking education program

Zillow is still in the red, but its major revenue streams are rising

Deephaven’s Tom Davis: ‘Either you take market share, or someone takes yours’

Rocket vs Zillow: The battle for ‘super app’ supremacy

Movement Mortgage acquires brokerage Superior Rate

Real Brokerage leverages agent count growth for soaring revenue

Homebot home education portal acquires mobile app firm Quo Finance

Open Mortgage has FHA direct endorsement authority terminated in Iowa

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