Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive.

Banks 468

Banks Mortgages Lending Loan Officer 468

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. .

Loan Officer 436

Loan Officer Loans Mortgages Industrial 436

Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. News of the plans come as political instability and a strong job market push mortgage rates closer to 8%. The bank reported a net income of $2.3

Banks 469

Banks Mortgages Lending Loan Officer 469

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release. Bank is a consumer and business banking company owned by US Bancorp.

Banks 436

Banks Lending Loan Officer Loans 436

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.

Loan Officer 419

Loan Officer FHA loan Loans Mortgages 419

Housing Wire

APRIL 29, 2024

Pennsylvania-based Fulton Bank, National Association of Lancaster, has agreed to assume most of the deposits and assets of Republic First Bank , which state regulators seized on Friday to “protect depositors.” Republic had an active business that specialized in jumbo mortgage products. Republic Bank is adding $5.3

Banks 424

Banks Closing Loan Officer Loans 424

Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. In its previous five-year plan, from 2018 to 2023, the bank invested $1.75

Banks 424

Banks Mortgages Lending Loan Officer 424

Housing Wire

FEBRUARY 1, 2024

United Bank will consolidate its mortgage subsidiaries into one unified mortgage business amid the housing industry struggles with elevated interest rates. United Bank has been delivering mortgage services through three channels, including two mortgage subsidiaries — Crescent Mortgage Co.

Banks 426

Banks Mortgages Closing Industrial 426

Housing Wire

SEPTEMBER 19, 2024

Department of Justice (DOJ) announced this week that they have secured a $15 million conciliation agreement with New Jersey-based OceanFirst Bank to settle allegations of discriminatory redlining in certain neighborhoods with majority Black, Hispanic and Asian populations. which will become a new division for the regional depository bank.

Banks 432

Banks Lending Loans Loan Officer 432

Housing Wire

JULY 15, 2024

Loan originators in today’s mortgage market have weathered significant challenges. Register now for AMPCON and be part of the conversation that’s shaping the future of mortgage banking. If you are still in the game, you’re already demonstrating resilience and adaptability.

Loan Officer 422

Loan Officer Loans Banks Mortgages 422

Housing Wire

MARCH 6, 2023

There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. Rising rates will likely scare buyers away from the market, as it makes monthly mortgage payments less affordable, loan officers interviewed by HousingWire said.

Loan Officer 398

Loan Officer Loans Pre-approval Mortgages 398

HomeLight

AUGUST 12, 2024

Your mortgage loan officer will play a key role in helping you secure the financing you need to close your home purchase. How do loan officers get paid? We’ll also share tips to save money and provide a list of questions to ask to ensure you know who’s handling one of the largest loans you’ll ever purchase.

Loan Officer 115

Loan Officer Loans Mortgages Lending 115

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. During that time, he helped with credit risk transfer transactions and the first mortgage servicing rights (MSR) securitizations.

Mortgages 363

Mortgages Loan Officer Loans Banks 363

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year.

Banks 398

Banks Mortgages Loan Officer Residential 398

Housing Wire

NOVEMBER 13, 2024

In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. This interview has been edited for length and clarity.

Mortgages 367

Mortgages Sales Loan Officer Lending 367

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 471

Banks Loan Officer Lending Loans 471

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. of banks reported weaker demand for HELOCs.

Lending 369

Lending Banks Mortgages Loan Officer 369

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.

Mortgages 370

Mortgages Loan Officer Finance Lending 370

Housing Wire

NOVEMBER 1, 2021

Mortgage lending titan Rocket Mortgage is bringing its tech straight to financial institutions. The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud.

Banks 447

Banks Mortgages Loan Officer Lending 447

Housing Wire

SEPTEMBER 13, 2024

Buffalo, New York-based mortgage technology firm LenderLogix , a top provider of point-of-sale (POS) and automation software for independent mortgage banks , commercial banks and third-party brokers, announced Thursday that Ben Head will join the company as an account executive.

Sales 435

Sales Mortgages Loan Officer Technology 435

Housing Wire

JUNE 17, 2022

Do loan officers need more technology than they currently have? Most loan officers do not believe they need more tech than they have now. Most loan officers do not believe they need more tech than they have now. I called a friend over at Bank of America to talk about this. Let that sit a second.

Loan Officer 430

Loan Officer Loans Technology Banks 430

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business. In total, 76.6%

Banks 369

Banks Mortgages Loans Loan Officer 369

Housing Wire

NOVEMBER 20, 2024

Chicago-based multichannel mortgage lender Rate , formerly known as Guaranteed Rate , has announced a shakeup in its reverse mortgage division’s leadership by appointing two longtime industry veterans to lead the company’s efforts with older borrowers. PRMI) and The Federal Savings Bank. “I

Industrial 354

Industrial Mortgages Lending Loan Officer 354

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 436

Banks Lending Loan Officer Loans 436

Housing Wire

OCTOBER 31, 2024

A recent episode of “The Loan Officer Podcast” features a high-profile guest masterclass. Host Dustin Owen sits down with Lower CEO Dan Snyder to explore his journey from studying law to founding a mortgage fintech platform, along with key entrepreneurial tips for aspiring originators. By 2013, the bank ended up selling.

Mortgages 448

Mortgages Banks Loan Officer Lending 448

Housing Wire

NOVEMBER 15, 2024

Chrissi Callaghan Rhea, co-founder of Mortgage Investors Group and member of the Mortgage Bankers Association (MBA) board of directors, died on Nov. One of her contributions to the industry was being a “driving force” behind MBA’s efforts to ban abusive mortgage trigger leads , Broeksmit said. 8, at the age of 73.

Investor 360

Investor Mortgages Loan Officer Lending 360

Housing Wire

MAY 30, 2023

And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Blend’s mortgage banking software processed 23.2% Imagine you’re a lender or an LO or a bank who is trying to serve the mass market.

Loan Officer 415

Loan Officer Loans Banks Technology 415

Housing Wire

OCTOBER 22, 2024

Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls’ prior experience spans several companies — including Movement Mortgage and WR Starkey Mortgage.

Lending 412

Lending Mortgages Loan Officer Development 412

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. trillion to $1.7 trillion.

Banks 436

Banks Mortgages Loan Officer Due diligence 436

Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023. Perez on Oct.

Debt-to-income ratio 418

Debt-to-income ratio Mortgages Loan Officer Banks 418

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.

FHA loan 469

FHA loan Loans Loan Officer Mortgages 469

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending.

Lending 469

Lending Banks Loan Officer Loans 469

Housing Wire

NOVEMBER 20, 2024

Executives at mortgage lenders anticipate a minimum 20% increase in credit reporting costs in 2025 compared to 2024. FICO), the company behind the widely used consumer credit-risk assessment methodology, announced an increase in its wholesale royalty for mortgage originations from $3.50 In early November, Fair Isaac Corp.

Mortgages 432

Mortgages Loan Officer Closing costs Loans 432

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Cornerstone Servicing ’s client portal provides complete, real-time portfolio analytics and loan-level data to enable smart portfolio management. billion in assets.

Banks 394

Banks Loan Officer Lending Loans 394

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 456

Mortgages Loan Officer Banks Equity 456

Housing Wire

SEPTEMBER 25, 2024

Applicants hoping to get a mortgage job in 2024. After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. The data includes employees at parent companies and subsidiaries, in mortgage lending, servicing and other activities.) Image created by AI in Midjourney.)

Industrial 458

Industrial Mortgages Loan Officer Loans 458

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