Knock reverses course on loan officer pay cut

Housing Wire

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources.

Loan officers made insane money in Q4 2020

Housing Wire

Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years.

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Loan officer wallets flatten as refis dry up

Housing Wire

To the surprise of virtually no one, loan officer commissions started to head south in the third quarter, dropping 17% year-over-year, according to SimpleNexus ’ third quarter mortgage loan compensation report. loans per month in Q3 2021, versus an average of 9.0

Latest Senior Loan Officer Opinion Survey Indicates Easing Credit Standards

Eyes on Housing

The latest results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021.

Anxiety grips LOs as layoffs sweep the industry

Housing Wire

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

Senior Loan Officer Opinion Survey Q3 2020

Eye on Housing

The Federal Reserve’s latest Senior Loan Officer Opinion Survey on Bank Lending Practices addresses changes in the standards and terms on, and demand for, bank loans to businesses and households.

How a noncompete ban would impact the mortgage industry

Housing Wire

Should the Biden administration make good on its threat, some loan officers, account executives and marketing personnel bound by such agreements would be able to switch jobs without fear of potential litigation from their employer. HousingWire Magazine delivered to your home or office.

How LOs can capitalize on social media channels while remaining compliant

Housing Wire

Exponentially increase your loan officers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loan officers dearly.

Senior Loan Officer Opinion Survey Q4 2020

Eye on Housing

The most recent edition of the Federal Reserve Board’s Senior Loan Officer Opinion Survey Practices addresses changes in the standards and terms on, and demand for, bank loans to businesses and households in the last quarter of 2020. Survey respondents (banks) reported a tightening of standards of both Commercial and Industrial (C&I) loans and Commercial Real Estate (CRE) loans to.

Why 28% of mortgage applicants never close the loan

Housing Wire

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. Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4

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Redfin acquires Bay Equity, pink slips 121 staff

Housing Wire

The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. Origination Acquisition mortgage loan officers Redfin

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How to get a mortgage: Explained by a loan officer (Podcast)

The Mortgage Report

Learn how to get a mortgage, choose a lender, and find the best deal on your home loan in this episode of The Mortgage Reports Podcast. About Mortgages Buying a home

DataTrace launches market insight platform for title companies

Housing Wire

Other reports offered include trend, loan officer, and title/lender intersection reports that DataTrace said can be used to identify and compare relationships between title companies and lenders.

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Who’s the customer in UWM’s wholesaler war?

Housing Wire

I’ve spent years asking top mortgage lending execs this question: who’s your primary customer, loan officers or consumers? market share of loans originated by brokers, per IMF), gave America’s brokers an ultimatum to dump two other wholesalers (with 17.8%

HW+ Member Spotlight: Mark Jones

Housing Wire

As such, we were one of the few lenders in the country that refused to offer subprime loans. At the time, that decision cost us loan officers left and right as they departed for firms that would let them originate anything they wanted.

This techie mortgage broker has cleared $1 billion in originations this year. And now Thuan Nguyen is scaling up

Housing Wire

In 2013, Thuan Nguyen was working out of his chaotic office in the heart of Silicon Valley. At that point, Loan Factory had about 200 loans and just 13 employees. The office was like a market,” Nguyen recalled. “It Quicken Loans , see how big they are?

In a purchase market, rookie LOs may struggle

Housing Wire

Rookies that pursued a career as mortgage loan originators in 2020 air dropped into a scintillating real estate market. HousingWire Magazine delivered to your home or office.

Digital lender Beeline goes on a hiring spree

Housing Wire

According to Beeline, the company plans to unveil a new office in Charlotte in the fall of 2020 – followed by a new branch on the West Coast towards the end of the year. The company has developed an alternative to what is traditionally know as a loan officer role.

Veterans United Home Loans to host virtual career showcase Sept. 2

Housing Wire

Mortgage Research Center , which does business as Veterans United Home Loans , is holding a virtual career showcase Wednesday, September 2, for all interested job applicants. Louis, and its branch offices in about 25 states.

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LOs are only human — Tech is necessary to keep up with max loan volumes

Housing Wire

One of the drivers for a pivot to profit is that loans are expensive. According to the Mortgage Bankers Association, it costs an average of $7,535 to produce a loan. It also helps position LOs to better educate and advise customers on the right loan products for their needs.

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Residential Real Estate Credit Standards Ease Slightly in Third Quarter

Eyes on Housing

The latest results of the Federal Reserve’s Board’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), lending standards and demand for residential real estate (RRE) loans both eased slightly in the third quarter of 2021.

Easing Credit Conditions in the Second Quarter

Eyes on Housing

The latest results of the Federal Reserve’s Board’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), showed that the market for commercial real estate financing (CRE loans) and residential real estate (RRE) financing eased compared to the first quarter.

Compass partners with Guaranteed Rate to launch OriginPoint mortgage services

Realty Biz

The brokerage believes its new company, called OriginPoint , will provide faster, more seamless and transparent home buying experiences for buyers, sellers, agents and loan officers. Guaranteed Rate has closed more than $60 billion in loan volume since the beginning of 2021.

Regulators slap mortgage LOs with fines for skipping class

Housing Wire

More than 400 mortgage loan originators will pay penalties after a multi-state investigation alleged they falsely claimed they completed an annual continuing education requirement. State regulators said the loans were “valid,” because the LOs had valid NMLS licenses at the time.

Real Estate Tech Demo Day: Adwerx

Housing Wire

Adwerx is the only digital advertising service designed specifically for leading mortgage lenders to automate compliant, individualized ads for loan officers and branches, and deploy digital marketing at scale to reach prospects directly, build brand awareness, and increase the productivity, recruiting, and retention of loan officers. #1. Adwerx.

HousingWire Annual Demo: Evocalize

Housing Wire

Evocalize’s technology makes it simple for corporate teams and technology platforms to unlock the power of sophisticated digital marketing for loan officers, brokers and real estate agents. Collaborative Marketing Platform.

Guaranteed Rate closes Stearns wholesale channel

Housing Wire

Guaranteed Rate will continue to thrive and win market share by having a laser focus on leveraging our industry-leading purchase platform augmented by the best loan officers in the business,” Guaranteed Rate CEO Victor Ciardelli wrote in an email to brokers that HousingWire reviewed.

Juneteenth holiday sparks chaos for lenders, LOs

Housing Wire

Reached Friday, many mortgage industry professionals were doing damage control — delaying closings, pushing back notices and modifying loans. One Orlando, Florida-based loan officer said she doesn’t mind the new Juneteenth holiday, but it did impact closings for several loans.

Consumer direct mortgage lender lays off 35 LOs

Housing Wire

Pink slips arrived for nearly three dozen loan officers at Wyndham Capital Mortgage on Wednesday, HousingWire has learned. Last year, Wyndham actively expanded, opening two hubs in Dallas and Phoenix, which pushed its office count to five.

Mortgage Tech Demo Day: SimpleNexus

Housing Wire

Loan officers experience on-the-go productivity with integrated mobile origination tools and enhanced referral outreach with a shareable, cobranded app for real estate partners. See how mobile origination tools integrate with existing workflows to increase loan officer productivity. #3.

Black Knight’s Borrower Digital POS solution simplifies the mortgage loan application process for borrowers

Housing Wire

Lenders have come to appreciate the benefits technology can bring – but those benefits are only useful if the implementation of new tools doesn’t make the loan process more complicated.

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Mortgage Tech Demo Day: Adwerx

Housing Wire

The Adwerx Enterprise Platform is the only digital advertising solution designed specifically for mortgage brokerages and their loan officers. Reach home buyers before real estate agents with individualized, compliant ads for loan officers, built automatically. Provide unprecedented ad personalization for every loan officer at your brokerage without lifting a finger. Adwerx Enterprise Platform.

FinXperience brings all parties in the loan process together on one platform

Housing Wire

Borrowers, loan officers, and the corresponding processors and underwriters are often working on entirely different systems. With our VELOX platform, we helped our lender clients not only grow but also improve borrower/loan officer collaboration and close more loans faster.

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Why lenders should build a referral-based business

Housing Wire

Stevens, President at SRE.com, about the challenges mortgage loan officers and brokers face as the market continues to shift toward purchase money business and how human-assisted eCommerce can help them win more business. HousingWire recently spoke with John G.

Mortgage Tech Demo Day: ActiveComply

Housing Wire

Easily find and monitor loan officer social media from one unified platform. We find loan officer and company accounts automatically and pull them into the system for your review. #3. Social media & website compliance for the financial industry. Social media compliance made easy for the financial industry.

Why should lenders put an emphasis on referrals and generating leads – Now more than ever

Housing Wire

Increasing quality means less time wasted on leads that aren’t going to convert, allowing lenders and loan officers to spend their very limited and highly valuable time on business that will close and drive revenue. The time required, coupled with the ramifications of running afoul of compliance requirements, means many lenders and loan officers choose not to market in digital channels to avoid the potential risk and resources needed.

Overcoming the challenges direct-to-consumer lenders are facing

Housing Wire

Josh Lehr: Pre-pandemic, online home buying existed, but over the last year, shopping online for mortgages became much more popular and convenient as meeting in person with a loan officer was not an option.