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.

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Loan Officer FHA loan Loans Mortgages 405

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. billion in purchase mortgage business, not far off a top 50 spot on the mortgage leaderboard. That’s an annualized $3.2

Mortgages 451

Mortgages Loan Officer Loans Agents 451

Housing Wire

JANUARY 17, 2024

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? They own the home with their name on the title, as with any mortgage, traditional or reverse. Yet staggeringly few are aware of its existence.

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Finance Seller concession Loan Officer Loans 475

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. It noted that mortgage rate declines are expected to make a difference in Q3 results.

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Finance Mortgages Marketing Branding 424

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 367

Mortgages Loan Officer Finance Lending 367

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. The post Knock reverses course on loan officer pay cut appeared first on HousingWire.

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Loan Officer Loans Lending Mortgages 405

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. Fartaj stepped down as Pennymac’s senior managing director and chief investment officer in March 2023 , after 15 years at the company.

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Mortgages Loan Officer Loans Banks 335

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.

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Loan Officer Loans Pre-approval Mortgages 395

Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. The analysis includes first-lien mortgage originations.

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Lending Mortgages Loan Officer Principal 443

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? Get Started What is a loan officer? A loan officer is a financial professional employed by a bank, credit union, or other lending institution.

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Loan Officer Loans Mortgages Lending 115

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

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 new states are Arizona, Nevada, Oregon and Utah.

Mortgages 390

Mortgages Equity Loan Officer Loans 390

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 says that your home is a five- to 15-year decision, while a mortgage is a five- to seven-year decision.

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Industrial Mortgages Loan Officer Loans 393

Housing Wire

NOVEMBER 1, 2024

With mortgage rates moving closer to 7% once again, recent homebuyers are finding creative ways to lock in lower rates. This comes despite rising mortgage rates and a 115% increase in the typical mortgage payment compared to pre-pandemic levels. There are also nontraditional loan types such as an adjustable-rate mortgage (ARM).

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Mortgages Finance Loan Officer Loans 321

Housing Wire

NOVEMBER 13, 2024

Better Home & Finance Holding Co., The company also reported a funded loan volume of $1.035 billion for Q3 2024, up 42% year over year and up 8% quarter over quarter, with 71% of this volume attributed to purchase loans. the parent of digital lender Better , reported a net loss of $54.1 By comparison, the company lost $41.4

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Mortgages Loan Officer Loans Technology 330

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.

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Mortgages Banks Loan Officer Lending 430

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.)

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Industrial Mortgages Loan Officer Loans 439

Housing Wire

OCTOBER 23, 2024

Even as artificial intelligence (AI) becomes more prominent in the mortgage industry, most millennial and Generation Z homebuyers are hesitant to rely solely on a fully automated application process to get a loan, according to a new study. About 58% of respondents still relied on loan officers to guide them through the process.

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Mortgages Loan Officer Loans Technology 417

Housing Wire

AUGUST 20, 2024

The duo dive into several topics, including Lower’s transformed culture and leadership structure following its acquisitions of Thrive Mortgage and Universal Lending. They also discuss fintech developments for loan officers, recruitment and even the CPO’s favorite hamburger.

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Mortgages Loan Officer Loans Technology 422

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.

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Lending Mortgages Equity Loan Officer 406

Housing Wire

SEPTEMBER 23, 2024

A former regional operations manager at CrossCountry Mortgage (CCM) is suing the company over allegations of age discrimination and wrongful termination for her refusal to participate in illegal activities. mortgage lender in the first half of the year, with $15.4 She requests a trial by jury. CCM was the 10th-largest U.S.

Mortgages 439

Mortgages Loan Officer Loans Banks 439

Housing Wire

FEBRUARY 13, 2024

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. Of the total, 61% were conventional and 80% were purchase loans. billion in MSRs). billion in MSRs).

Mortgages 459

Mortgages Loan Officer Loans Finance 459

Housing Wire

APRIL 15, 2024

In the late 2000s, Ryan Schmidt was a restaurant manager with no real understanding of the reverse mortgage product. It wouldn’t take long for that to change, however, and Schmidt now serves as the vice president of partner engagement at Finance of America Reverse (FAR), the reverse mortgage industry market leader in the U.S.

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Mortgages Loan Officer Finance Loans 442

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. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200. Go Mortgage originated $753.2

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Mortgages FHA loan Loan Officer Construction 500

Housing Wire

OCTOBER 4, 2024

Kevin Peranio, left, of Paramount Residential Mortgage Group, and Candice McNaught of Supreme Lending lead a panel discussion during the HousingWire IMB Summit in Dallas on Oct. Photo courtesy of Willie & Kim Photography) As mortgage rates edge closer to the 6% mark, optimism has spread across the industry.

Mortgages 405

Mortgages Loan Officer Lending Loans 405

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 final mortgage rate, however, will ultimately be different for every borrower’s situation.

Mortgages 455

Mortgages Loan Officer Loans Finance 455

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

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

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Loan Officer Mortgages Fixed-rate mortgage Loans 435

Housing Wire

JULY 29, 2024

Mortgage lenders loanDepot and Movement Mortgage have agreed to end a one-year dispute over the poaching of employees, according to a document filed Friday in a district court in Delaware. National Mortgage News first reported on the motion to dismiss. mortgage lender with $10.3 mortgage lender with $10.3

Mortgages 378

Mortgages Loan Officer Finance Loans 378

Housing Wire

OCTOBER 23, 2024

Chicago-based Rate was the eighth-largest mortgage lender in the country during the first half of 2024, according to estimates from Inside Mortgage Finance. Victor Ciardelli: There is a profound shift taking place in the mortgage industry. This interview has been edited for clarity and length.

Mortgages 428

Mortgages Technology Loans Development 428

Housing Wire

JUNE 5, 2024

Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. “There’s one question every CEO, CTO, CIO, loan officer, processor, underwriter, they all ask the same thing: will AI replace my job? .

Mortgages 430

Mortgages Loan Officer Technology Loans 430

Housing Wire

MARCH 20, 2024

About 65 mortgage professionals have not transitioned from AmCap Home Loans to its acquirer, CrossCountry Mortgage (CCM), and rival New American Funding (NAF) has hired the AmCap personnel to expand its business in Texas, the lender announced last week. According to Inside Mortgage Finance , NAF was the 31st largest U.S.

Mortgages 438

Mortgages Loan Officer Loans Finance 438

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

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FHA loan Mortgages Loan Officer Loans 443

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. Terms of the transaction were not disclosed.

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Finance Loan Officer Loans Development 357

Housing Wire

OCTOBER 9, 2023

A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. As of Oct.

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Mortgages Loan Officer Loans Technology 448

Housing Wire

JUNE 11, 2024

1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the bureau. About one in three complaints had to do with borrowers “struggling to pay their mortgage,” of which a portion were specifically related to foreclosures. Reverse mortgage accounted for 1.4%

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Mortgages Loan Officer Loans Finance 408

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 added that about 5,000 approved insurance agents can also originate a mortgage with Rocket, Lazerson wrote.

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Loan Officer Mortgages Loans Finance 362