Housing Wire

NOVEMBER 15, 2024

Should the goal of marketing technology be to make it so that a loan officer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Empowerment, not detachment, is the path forward.

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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.

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Loan Officer Loans Banks Mortgages 434

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% Concessions, mortgage rate buydowns save deals. According to a new Redfin report, a record 41.9%

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Seller concession Mortgages Loan Officer Loans 529

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .

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Loan Officer Mortgages VA loan Lending 448

Housing Wire

JANUARY 8, 2025

Higher-for-longer mortgage rates have claimed their first victim of 2025. Ally Financial announced Wednesday that it would exit the mortgage origination business as part of a broader strategy to pursue higher returns on investments. It had no sponsored loan officers. Bloomberg was the first to report the developments.

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Closing Mortgages Loan Officer Development 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.

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FHA loan Loans Loan Officer Mortgages 468

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

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Mortgages Loan Officer Loans Agents 459

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loan officers to ML Mortgage.

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Mortgages Loan Officer Lending Loans 448

Housing Wire

FEBRUARY 6, 2024

With the central bank expected to cut interest rates this year, banks reported that loan demand should strengthen across residential loan categories in 2024, according to the Fed’s quarterly senior loan officer opinion survey (SLOOS) released on Monday. A 50%-plus net share of all U.S. The survey showed that a net 25.5%

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Residential Lending Banks Mortgages 497

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 459

Housing Wire

APRIL 17, 2024

Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in.

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Loan Officer Mortgages Lending Loans 448

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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Housing Wire

DECEMBER 12, 2024

Editor in Chief Sarah Wheeler sat down with Jeff Bell, president of both UpWell Mortgage and software company Uplist , to talk about how he thinks about technology, and the good news that the industry is turning a corner after two rough years. This interview has been edited for length and clarify. None of them are accurate.

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Loan Officer Loans Technology Mortgages 370

Housing Wire

OCTOBER 17, 2024

Former Open Mortgage executive Brenda Hedeen has been hired by Utah-based Canopy Mortgage as its new chief financial officer. Hedeen was the CFO of Open Mortgage from May 2022 to October 2024. She also had CFO stints at On Q Financial and Mann Mortgage. It has nearly 300 loan officers and originated about $1.35

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Mortgages Loan Officer Technology Loans 459

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. NEXA did $6.29

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Housing Wire

JUNE 6, 2024

But Ryan Ogata, executive vice president of reverse mortgage lending at the Chicago-based lender, added that his vast experience on the forward side has helped to facilitate the transition of other company professionals in getting up to speed with reverse lending characteristics. It’s another thing within the arsenal.

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Loan Officer Mortgages Lending Loans 458

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.

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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.

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Mortgages Loan Officer Banks Equity 459

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 434

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).

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Mortgages Loan Officer Loans Finance 459

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.

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Mortgages Equity Loan Officer Loans 434

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.

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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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Loan Officer Mortgages Loans Technology 448

Housing Wire

MAY 29, 2024

Multichannel lender New American Funding (NAF) is going big on reverse mortgages. As already evidenced by its ambitious new marketing campaign, “ Old Wives ,” the company is also aiming to streamline its existing presence in the reverse mortgage market. Those traditional loan officers have been such a blessing.

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Loan Officer Mortgages Due diligence Loans 448

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 459

Mortgages Loan Officer Technology Loans 459

Housing Wire

MARCH 11, 2024

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders. Solutions within Floify Lender Edition allow lenders to improve recruitment and retention of top-producing loan officers and to navigate regulatory landscapes, according to the company’s website.

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Mortgages Loan Officer Loans Banks 448

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

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Mortgages Loan Officer Loans Equity 476

Housing Wire

MARCH 27, 2024

New York-based multichannel lender US Mortgage Corporation is expanding its efforts in the reverse mortgage space, illustrating its focus on growth. The company recently hired reverse mortgage industry veteran Ken Krajewski to serve as its managing director and head of reverse mortgage lending.

Mortgages 459

Mortgages Loan Officer Lending Loans 459

Housing Wire

MAY 24, 2024

Movement Mortgage , a multichannel mortgage lender, has appointed Joe Thompson as its new regional director. Thompson, recognized as a HousingWire Rising Star in 2018 , will oversee more than 60 loan officers across Texas , Oklahoma and New Mexico.

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Mortgages Loan Officer Renovation Loans 447

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 476

Housing Wire

MAY 20, 2024

Mortgage capital markets tech firm Polly announced on Monday its API integration with cloud banking provider nCino to enhance the digital mortgage process for lenders. In August 2022, Polly announced an extension of its API portfolio to better accommodate lenders amid a contracting mortgage environment.

Mortgages 447

Mortgages Loan Officer Technology Banks 447

Housing Wire

AUGUST 14, 2024

The recent declines in mortgage rates have been good news for mortgage professionals and consumers alike. But the industry is not yet out of the woods, said Todd Sheinin, the Maryland-based vice president of strategy and development at Primary Residential Mortgage Inc. “As After mortgage rates peaked above 7.5%

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Mortgages Loan Officer FHA loan Loans 468

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 448

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. With the acquisition of Academy, Guild will be onboarding nearly 200 branches and 1,000 new employees, about 600 of which are loan officers. But she said there was no “serious talk” about an M&A deal until the end of 2023 amid a depressed mortgage market.

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Mortgages Loan Officer Loans Closing 448

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles.

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Housing Wire

AUGUST 12, 2024

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. years after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. “Every single loan officer has been paid per their compensation agreement.

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Closing Mortgages Loan Officer Loans 459

Housing Wire

OCTOBER 31, 2024

Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. 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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