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

Housing Wire

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned.

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

5 “back to basics” business actions loan officers should take today

Housing Wire

It’s a tough time to be a loan officer. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. Some have taken to TikTok to make funny videos about why they are the best loan officer in the land.

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.

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

3 Can’t-miss HW Annual panels for new mortgage loan officers

Housing Wire

Did you just begin your career as a mortgage loan officer and need the answers to questions you didn’t even know you had? A part of the Women of Influence Forum, this workshop is perfect for new loan officers, especially women new to the industry, to gain confidence in their position.

Cloudvirga’s POS platform provides loan officers with everything they need to prepare a loan in minutes

Housing Wire

Cloudvirga’s platform solves for both by creating the best experience for borrowers and loan officers. The Cloudvirga team has been able to dramatically improve the experience of the borrower and the loan officer.

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.

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.

Q2 2020 Senior Loan Officer Opinion Survey

Eye on Housing

The Federal Reserve’s latest release of the Senior Loan Officer Opinion Survey shows banks’ lending practices and households and businesses’ demand for various classes of loans as of the second quarter of 2020.

Loan officer answers first-time home buyer questions (Podcast)

The Mortgage Report

Get answers to your biggest first-time home buyer questions directly from a loan officer in this episode of The Mortgage Reports Podcast. First-Time Home Buyers

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.

Episode 3: Loan Officer, Tech Founder, And Everything In Between With Michael Kelleher From QC Ally

Agent Drive

Mike works on partnering with the mortgage industry to improve loan quality and thus improve lending as a whole. The post Episode 3: Loan Officer, Tech Founder, And Everything In Between With Michael Kelleher From QC Ally appeared first on AgentDrive.

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.

The war for top talent and why LOs move shops

Housing Wire

Given the market contraction and numerous layoffs in the industry, it may be surprising to think that loan officer recruitment and retention could be a focus for some lenders and independent mortgage banks right now. If you can, arm your loan officers with that technology,” Hills said.

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.

As the market shifts to purchase, LOs get creative

Housing Wire

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation.

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

Movement Mortgage names Lyra Waggoner chief information officer

Housing Wire

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Michael Brennan, president of Movement, said Waggoner can empower loan officers with the tools they “need to win.”.

Homestar names Gurp Bhandal EVP of national production

Housing Wire

Wendell Couch joined in 2008 and closed over $1 billion in loan production in 2021. HOMESTAR’s mortgage products include conventional, FHA, USDA, VA, jumbo, reverse, 203K, refinance and its own cash advantage, RefiNow and NATURALiving Home Mortgage loan programs.

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

Top LO Shant Banosian on how to prepare for 2023

Housing Wire

But according to Shant Banosian, Guaranteed Rate’s top-ranked loan officer, now is the time for LOs to show up and work hard. “In loan officers Mortgage service journalism

Guaranteed Rate taps Stavvy to scale eClosings

Housing Wire

Stavvy also partnered with loss mitigation and loan modification solution provider Covius at the beginning of the year to offer RON and eSignature capabilities for all loan mitigation products, regardless of recording requirements.

LoanSnap unveils new cloud-based portal

Housing Wire

LoanSnap has unveiled a cloud-based portal called LoanFLow that will allow licensed brokers and loan officers in the U.S. The company says its new LoanFlow portal will allow originators to close loans in as little as 24 hours and in 15 days on average, the company said.

Even in a down market, lenders lean on LO signing bonuses

Housing Wire

Gone are the days that loan originators received hefty signing bonuses to crank out refi after refi. Lenders have better data and tools to understand the viability of prospective loan officers, Cameron said.

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

Equity 390

Interfirst to lay off 140 employees

Housing Wire

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. The workforce reduction is also focused on mortgage loan production.

In wake of scandal, LOs say continuing education programs get failing grade?

Housing Wire

If you’re a mortgage loan officer with a decade of experience in the industry, you have likely spent over 80 hours taking continuing education courses. Tricky situations can arise in mortgage lending, especially when navigating less-common products or originating non-agency loans.

The LO edge in 2022? Realtors, Realtors, Realtors

Housing Wire

According to three loan originators speaking at a policy summit hosted by the National Association of Hispanic Real Estate Professionals in Washington D.C. “I’m really good at conventional loans, I’m just OK with jumbo products.

Union Home Mortgage the latest to trim workforce

Housing Wire

The residential housing market has turned quickly due to historically low inventory of homes for sale and a rapid rise in interest rates due to inflation,” Cindy Flynn, chief marketing and communications officer, said in a statement. “We,

Banks Report Unchanged Home Lending Standards

Eyes on Housing

In the second quarter iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, banks reported largely unchanged lending standards across all residential real estate (RRE) loans.

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.

Title 386

Banks Report Weaker Demand for Home Loans

Eyes on Housing

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans.

Banks 134

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%