Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. The annual investment volume in the U.S.

Equity 464

Equity Finance Purchase and sale agreement Investor 464

Housing Wire

JULY 15, 2022

Mortgage brokerage Edison Mortgage, which works with more than 50 lenders, reached $1 billion (CAD) in annualized submitted volume in March 2020, according to the firm. The post Canadian mortgage brokerage takes Rocket Mortgage name appeared first on HousingWire. It previously acquired Lendesk, a Canadian fintech company.

Brokerage 434

Brokerage Mortgages Banks Lending 434

Housing Wire

JULY 12, 2021

The company, which is expected to go public later this year, has agreed to acquire United Kingdom-based digital mortgage brokerage Trussle. Terms of the deal were not disclosed, but the Financial Times reported that SoftBank -backed Better bought Trussle for a “cut-price,” one that values the mortgage brokerage at just $9 million.

Brokerage 446

Brokerage Mortgages Loan Officer Banks 446

Housing Wire

MARCH 8, 2024

homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Kim: There are a handful of home equity investment firms in the market. Based on the notion that far too many U.S.

Equity 425

Equity Marketing Investor Loans 425

Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

Debt-to-income ratio 316

Debt-to-income ratio Agents VA loan MLS 316

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 368

Loans Equity Lending Title 368

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 436

Lending Mortgages Equity Loan Officer 436

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. Kortas told HousingWire that he owns 50.5% NEXA did $6.29

Mortgages 468

Mortgages Brokerage Loan Officer Lending 468

Housing Wire

NOVEMBER 17, 2021

On Wednesday, the brokerage announced perhaps its biggest move ever outside the Windy City, stating that they have acquired Christie’s International Real Estate , a New York City-based brokerage. The brokerage was founded 2000 by Thad Wong and Mike Golden , who remain the companies’ co-CEO’s. The deal is set to close Dec.

Brokerage 448

Brokerage Residential Equity Branding 448

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans.

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

JULY 18, 2022

Purchase-focused lenders that didn’t balloon in size to capture refinancing business during the boom, in particular, are looking to hire loan officers. And mortgage brokerages, which don’t have the burden of high overhead, are heavily recruiting retail LOs whose pipelines have thinned in recent months.

Mortgages 476

Mortgages Banks Brokerage Loans 476

Housing Wire

APRIL 4, 2022

Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8 million premium over Bay Equity’s tangible book value” as of Feb. 22, according to the news release.The move allows Redfin agents in 91 markets to begin referring customers to one of 400 local Bay Equity loan officers as of Monday.

Closing 370

Closing Mortgages Loan Officer Pre-approval 370

Housing Wire

SEPTEMBER 25, 2024

NEXA has accused Grella of causing the failure of a $24 million hangar-office property purchase and the brokerage firm is preparing to file an amended complaint. Kortas and Grella founded NEXA seven years ago after leaving Equity Prime Mortgage. The saga began in March when Grella was terminated from NEXA amid buyout negotiations.

Mortgages 435

Mortgages Due diligence Brokerage Loan Officer 435

Housing Wire

JUNE 14, 2022

A brokerage owner in Brooklyn, Kevin Leibowitz, said he hasn’t seen enough lenders expand the credit box to get more borrowers, but he expects loans will be loosely underwritten compared to two years ago. . The post Credit scores dropped in May, but what does that mean?

Equity 369

Equity Lending Loans Mortgages 369

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). to 358 loans).

Mortgages 447

Mortgages Loans Equity Principal 447

Housing Wire

JUNE 24, 2021

After years of aggregating behavioral data from homebuyers and homesellers at the largest real estate brokerages in the country, Buyside is proud to announce the launch of their expansion into core & ancillary services by focusing on the homeowner.

Pre-approval 382

Pre-approval Equity Loan Officer Brokerage 382

Housing Wire

JANUARY 13, 2021

In 2017, Guaranteed Rate struck a deal with the largest real estate brokerage conglomerate in the country, Realogy , to form a landmark joint venture. It has paid off in spades: the combined company, Guaranteed Rate Affinity , originated $5 billion in loans during the first half of last year. But one JV in particular had eluded him.

Brokerage 417

Brokerage Equity Loans Finance 417

Housing Wire

FEBRUARY 3, 2021

Federal authorities this week announced multiple fraud charges against real estate developer Andrzej Lajewski, 53; loan originator Agnieszka Siekowski, 46; loan processor Aldona Bobrowicz, 45; and home remodeler Andrzej Bukowski, 66. Attorney’s Office in Chicago said Tuesday. Presented by: FundingShield.

Mortgages 417

Mortgages Loans Banks Lending 417

Housing Wire

FEBRUARY 18, 2022

You can’t please all the people all of the time, but Redfin is a unique real estate brokerage , an instant homebuyer, a popular listings website, a platform for renters, a mortgage company, a title company, a concierge service, and a research service on the U.S. housing market. What does that all add up to?

Bankruptcy 418

Bankruptcy Brokerage Title Equity 418

Housing Wire

MARCH 18, 2021

Offerpad will also receive a $200 million commitment from private equity investors such as BlackRock and Zimmer Partners. Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors.

Loan Officer 459

Loan Officer Technology Equity Brokerage 459

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. billion in loans over the first six months of 2022 — for total proceeds of $871.7 UWM’s loan production income of $296.5

Loan Officer 435

Loan Officer Loans Equity Mortgages 435

Housing Wire

JANUARY 5, 2021

The platform allows loan officers to become “mobile originators,” using their smartphones to view applications, pull credit reports and oversee all aspects of the loan process while connecting in real-time to their LOS.

Loan Officer 418

Loan Officer Lending Mortgages Equity 418

Housing Wire

FEBRUARY 24, 2022

But like real estate brokerage Compass , another company significantly financed by the SoftBank Vision Fund , Opendoor has constructed an empirically money-losing business model with little sign of reversing course. One hypothetical path to profitability is ancillary services, particularly Opendoor mortgage loans and title insurance.

Title 459

Title Investor Finance Brokerage 459

Housing Wire

FEBRUARY 14, 2025

In response, many brokerage firms have adapted their business models to navigate these challenges. brokerage firms continues to decline, sitting near 10% by the end of 2024. Additionally, segmentation among brokerage firms is likely to increase, driven by differences in cost structures and technology adoption.

Brokerage 206

Brokerage Residential Industrial Technology 206

Housing Wire

FEBRUARY 26, 2024

Reverse mortgage loan originators all seem to agree that 2024 is off to a better overall start in business than a tepid 2023 might suggest. When the property no longer serves as the borrower’s primary residence, the remaining loan balance is paid back. Florida is already an extremely popular retirement destination in the U.S.,

Marketing 441

Marketing Fixed-rate mortgage Loans Mortgages 441

Housing Wire

AUGUST 20, 2021

Congratulations to all of the entrepreneurs, founders and executives who have survived the onslaught of phone calls, emails and DMs from first-year private equity associates (yeah… we’re looking at you Summit Partners ….). Aaron Strawn, senior loan officer at Ruoff Mortgage (294% growth) pointed to his company’s leadership. “We

Title 476

Title Mortgages Equity Loan Officer 476

Housing Wire

APRIL 1, 2024

NEXA’s businesses America’s largest mortgage brokerage, NEXA originated $6.29 billion in mortgage loans in 2023, according to Kortas. As of Monday, the company had 2,391 sponsored mortgage loan officers, per the Nationwide Multistate Licensing System (NMLS). The lawsuit states that Kortas had 50.5%

Loan Officer 437

Loan Officer Brokerage Mortgages Loans 437

Housing Wire

AUGUST 16, 2022

“The edge that we have as a local lender focusing on Maryland and the Mid-Atlantic is to meet with investors in person and closing loans more quickly than national lenders,” said Joshua Shein, partner at Trius Lending. We raise funds from outside investors and that’s how we fund these loans. 1673, with growth of 372%.

Mortgages 370

Mortgages Lending Investor Loans 370

Housing Wire

FEBRUARY 16, 2021

million in equity financing and $17.5 UpEquity essentially makes free cash offers but charges interest – currently 2.5% – on the loans it provides to homeowners, who can make an offer on a house without having to go through a bank to get a mortgage. How this real estate brokerage’s unique model generates more profit for agents.

Loans 325

Loans Equity Mortgages Development 325

Housing Wire

OCTOBER 25, 2022

The company is working with commercial brokerage Eastdil Secured to find a partner for a $1 billion joint venture, according to Bloomberg’s sources. The company had received a $1 billion, interest-only loan in 2017. The search for a partner is in the early stages and is not guaranteed to materialize, Bloomberg reported.

Commercial 367

Commercial Investor Staging Equity 367

Housing Wire

NOVEMBER 16, 2022

trillion in loans, about half of 2021’s $4.4 Within the past week, one of the nation’s largest retail mortgage lenders, Charlotte-based Movement Mortgage , announced the acquisition of Mortgage Network, a deal that would add $2 billion in annual loan volume, 250 mortgage professionals and 31 branch offices to its network.

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

OCTOBER 11, 2023

This year, 100 honorees were selected for their outstanding leadership in the midst of market volatility. Congratulations to this year’s Vanguards honorees. Take a look at the full list below.

Lending 488

Lending Technology Mortgages MLS 488

Housing Wire

AUGUST 7, 2023

Real estate still relies on a “system” unable to integrate production across the silos of media, brokerage, lending, insurance and trading. The GSE’s $8B profit in 2Q could buy most of the brokerage industry. The reckoning has brought staff reductions, loan repurchases, higher reserves and mass consolidation.

Lending 368

Lending Loans Technology Brokerage 368

Housing Wire

JUNE 20, 2024

According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), FOA was the No. This data does not include originations of proprietary reverse mortgages, but no provider of these loans publicly shares the sales volume figures for their private-label products.

Finance 453

Finance Investor Mortgages Equity 453

Housing Wire

AUGUST 23, 2024

Let’s talk about the brokerage aspect. What brokerage wants that publicity? Kleimann: One theory I’ve heard is that we’re going to return to a version of subagency for some buyers, especially in the lower price brackets, where maybe the buyer got an FHA loan and had to get a down payment assistance package.

FHA loan 411

FHA loan Agents Brokerage Staging 411

Housing Wire

AUGUST 2, 2021

SVP, Loan Administration. Brokerage Operations. Bay Equity Home Loans. Equity Prime Mortgage. Evergreen Home Loans. Mountain West Financial. Laura Rittenberg. Coldwell Banker Realty in Atlanta and the Carolinas. Lesley Alli. Senior Managing Director, Strategic Partnerships. Linda Case. Lindsey Johnson.

Title 418

Title Lending Finance Technology 418

Housing Wire

APRIL 21, 2023

The trading volume of mortgage-rights servicing (MSRs) so far this year is on pace to meet or exceed last year’s robust mark , when MSRs on some $1 trillion worth of home loans exchanged hands — then fueled by the spike in interest rates, industry players say. which controls Lakeview Loan Servicing ]. Bayview Cos.

Loans 78

Loans Banks Equity Mortgages 78