Housing Wire

DECEMBER 16, 2021

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. But on Thursday morning, Knock reversed course. It began 2021 in 14 markets and is now in 70.

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Loan Officer Loans Lending Mortgages 414

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. What I tell all loan officers, no matter who I talk to, is that there’s no foreclosure crisis coming on the horizon,” Saghafi said.

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Loan Officer Loans Mortgages As-is 446

Housing Wire

MARCH 6, 2023

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. This means LOs need to find ways to ease the financing pain for borrowers on a case-by-case basis. For the week ending Feb.

Loan Officer 397

Loan Officer Loans Pre-approval Mortgages 397

Housing Wire

SEPTEMBER 14, 2023

The FHA’s announcement in early September to waive a requirement that FHA-approved lenders flag rejected loans in the FHA Connection system is a step in the right direction since declined borrowers don’t have to overcome a stigma, loan officers said. The FHA/VA share in Q2 2023 stood at 22.9%

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Loan Officer FHA loan Loans Mortgages 414

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.

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Loan Officer Loans Mortgages Lending 115

Housing Wire

AUGUST 14, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck.

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Finance Mortgages Marketing Branding 432

Inman

NOVEMBER 8, 2023

According to mortgage industry expert Matt Muscat, changes in the mortgage industry and in the financial landscape have made the job of loan officer more important and challenging than ever.

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Loan Officer Loans Mortgages Industrial 185

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.

Finance 378

Finance Loan Officer Loans Development 378

Housing Wire

MARCH 23, 2022

“Marketers and loan officers need to be prepared for a longer lead-nurture timeline today than the refi market frenzy we experienced the last two years,” said Jim Anderson, chief marketing officer at Finance of America Mortgage. Homebuyers often search for financing online before engaging a Realtor.

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Finance Loan Officer Loans Lending 319

Housing Wire

NOVEMBER 11, 2024

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. And the company has been hiring loan officers at a good clip over the last year, according to NMLS data. That’s an annualized $3.2

Mortgages 457

Mortgages Loan Officer Loans Agents 457

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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FHA loan Loans Loan Officer Mortgages 468

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

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. The Nationwide Multistate Licensing System (NMLS) shows that Michigan-based brokerage firm Next Door had 61 sponsored loan officers as of Thursday, along with four branches in Arizona, Nevada, Ohio and Texas.

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Lending Mortgages Loan Officer Principal 466

Housing Wire

NOVEMBER 14, 2024

billion in mortgage loans from January to September, up 8.8% compared to the same period in 2023, according to Inside Mortgage Finance (IMF) estimates. Pennymac, a powerhouse in the correspondent channel, produced more than three times more loans, with a total of $79.8 Clevaland-based CrossCountry Mortgage originated $25.6

Mortgages 354

Mortgages Loan Officer Loans Banks 354

Housing Wire

OCTOBER 2, 2023

BLVR – a marketing and promotional campaign launched by EPM on Monday – aims to reach as many retail loan officers to provide information about the wholesale channel. When retail loan originators visit the website, LOs are asked to fill out their names, contact information and comments or questions about wholesale lending.

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Loan Officer Lending Loans Equity 435

Housing Wire

NOVEMBER 21, 2023

The group will be branded as Shamrock, Powered by CMG Home Loans. According to Inside Mortgage Finance (IMF) estimates, CMG was the 16th-largest mortgage lender in the country in the first nine months of 2023, with a $16 billion volume, an increase of 17.5% 21, NMLS showed the lender had eight loan officers and 13 branches.

Loan Officer 432

Loan Officer Lending Loans Finance 432

Housing Wire

OCTOBER 9, 2024

In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. Owen mentions recruiters who bash other lenders in an effort to sway loan officers into choosing them for employment.

Industrial 415

Industrial Mortgages Loan Officer Loans 415

Housing Wire

DECEMBER 12, 2023

“We would prefer to be picking up the loan officers without the branches, without physical locations because we’re trying to backfill into where we have existing retail opportunities and we have space.” In June, the lender brought on 100 loan officers and hired 33 additional LOs based in Texas since that period.

Loan Officer 448

Loan Officer Loans Lending Mortgages 448

Housing Wire

NOVEMBER 1, 2024

About one in three (35%) received special financing, while 26% made their purchase offer contingent upon a lower rate. Zillow home trends expert Amanda Pendleton noted a trend of new buyers thinking outside the box when it comes to mortgage financing.

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Mortgages Finance Loan Officer Loans 321

Housing Wire

OCTOBER 30, 2024

But public filings analyzed by Inside Mortgage Finance revealed that seller repurchases rose to $430 million in the second quarter of 2024 — a 29% increase from the previous quarter. Feedback for LOs Freddie Mac is also enhancing its Loan Product Advisor (LPA) automated underwriting system with LPA Choice.

Debt-to-income ratio 407

Debt-to-income ratio Loans Loan Officer Finance 407

Housing Wire

JUNE 20, 2024

The bridge loan estimate is being integrated into the lender’s workflow through an Encompass plugin. NFM loan officers will be automatically notified when a homeowner can tap into the equity of their current home to buy a new one before selling.

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Lending Loans Loan Officer Equity 446

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 The new states are Arizona, Nevada, Oregon and Utah.

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Mortgages Equity Loan Officer Loans 412

Housing Wire

AUGUST 20, 2024

They also discuss fintech developments for loan officers, recruitment and even the CPO’s favorite hamburger. Collins follows up with a question on how mortgage industry changes have shifted the ways that bankers and brokers offer financing to consumers. Gillespie joined Lower last year after the acquisition of Thrive Mortgage.

Mortgages 438

Mortgages Loan Officer Loans Technology 438

Housing Wire

OCTOBER 13, 2023

According to loan officers, former executives, recruiters and business partners, Fairway has struggled with liquidity issues and its founder and CEO Steve Jacobson has attempted to sell the business. Sources said that acquiring Fairway would be a way for CrossCountry to add loan officers at different branches across the country.

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Loan Officer Loans Mortgages Staging 493

Housing Wire

NOVEMBER 13, 2024

Better Home & Finance Holding Co., In terms of compensation, Garg said that he envisions a different model than Better’s call-center loan officers. And then three, the NEO loan officers are going to get the benefit of being able to serve Better’s customer base in the local markets you know that they operate in.”

Mortgages 351

Mortgages Loan Officer Loans Technology 351

Housing Wire

JANUARY 25, 2024

From at least August 29, 2022 to December 2, 2022, individuals who were not licensed as loan officers (LOs) in Connecticut acted as LOs by taking residential mortgage loan applications , soliciting Connecticut borrowers for mortgages and offering or negotiating terms of mortgages, according to the order issued earlier this month.

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Loan Officer Loans Banks Title 418

Housing Wire

JANUARY 5, 2024

But this isn’t your standard poaching lawsuit: G-Rate alleges that NAF has wooed at least 30 employees since early 2023 via illegal loan officer compensation practices. The departing employees included a divisional manager, branch and regional managers, and loan officers.

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Loan Officer Loans Banks Mortgages 482

Housing Wire

APRIL 30, 2024

We’ve also implemented project management technologies and streamlined processes to improve workflow and turnaround times for loan officer requests, effectively halving the time it takes to fulfill them. HousingWire: The Money Store prides itself on providing easy, efficient, and affordable home financing.

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Loan Officer Technology Loans Finance 448

Housing Wire

NOVEMBER 17, 2023

In court documents, Summit and Pennington admitted they signed a confidentiality agreement in March but denied other accusations, including that Pennington used information from Movement to target its loan officers matching characteristics that would fit Summit’s business. million in unpaid compensation. It originated $15.46

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Loan Officer Sales Loans Mortgages 408

Housing Wire

APRIL 19, 2023

The inquiry to credit by a mortgage company is a trigger that notifies the credit bureau that the consumer is interested in applying for financing. Loan officers took to social media to support the “long overdue” legislative proposal. “I Trigger lead takes place when a consumer applies for a mortgage.

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Loan Officer Loans Mortgages Finance 468

Housing Wire

SEPTEMBER 25, 2024

loanDepot’s focus is on the sales side, attracting experienced loan officers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. We need more recruiters here to help fill all these openings we have,” Erica Danna, vice president of talent management at loanDepot , said.

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Industrial Mortgages Loan Officer Loans 452

Housing Wire

JANUARY 12, 2024

Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. The real estate agent works with the seller and a Guaranteed Rate loan officer to pay a fee and lock in the discounted rate for a buyer.

Mortgages 458

Mortgages Loan Officer Loans Finance 458

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

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Loan Officer Loans Agents Mortgages 481

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. Really struggling.

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Loan Officer Mortgages Fixed-rate mortgage Loans 435

Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. Kostegian’s comments offer insight into the scope of Rocket’s remote local loan officer program. Rocket didn’t respond to requests for comment.

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Loan Officer Mortgages Loans Finance 368

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. When Finance of America announced their closure, we started searching around,” Reich said. ” .

Mortgages 506

Mortgages FHA loan Loan Officer Construction 506

Housing Wire

OCTOBER 28, 2024

Equally important is the ability to proactively and automatically detect within an existing customer database who is ready to buy, so loan officers can reach out to those borrowers before they even act. Sales automation solutions like ICE Velocify help them connect with borrowers faster and stay one step ahead of the competition.

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Loan Officer Pre-approval Technology Loans 421