Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

How to increase minority homeownership?

Today’s HousingWire Daily features a roundtable discussion from HousingWire’s Lunch & Learn series that looks at “Unpacking the lender’s vital role in increasing minority homeownership.”

Mortgage

loanDepot hires 60 loan officers while reportedly laying off “hundreds”

CEO announces hires on LinkedIn

Let’s start with the good news.

Yesterday, the CEO of loanDepot, Anthony Hsieh, informed his followers on LinkedIn that the company welcomed in 60 new loan officers.

“I had the pleasure this morning to meet this month new class of 60 loan officers. Thank you for your faith and confidence in us. I enjoyed meeting each and every one of you this morning. I really appreciate your energy and enthusiasm,” he said. [Screenshot of post below.]

Meanwhile, sources tell HousingWire that the company also experienced a round of layoffs at its Southern California location. One source said the layoffs numbered in the “hundreds.”

A request for more information — how many and what roles they performed — was filed with loanDepot spokespersons earlier today, via emails, phone calls and text messages.

If the reports are true, it points to a larger mortgage market slowdown currently underway. Some of this is due to advances in tech making lending processes more efficient, some of it due to economic pressures.

After a recent round of layoffs at Movement Mortgage, CEO Casey Crawford cited a “marketplace constrained.” Banks also now telling the Federal Reserve that, despite loosening credit standards, demand for mortgages is dwindling. Wells Fargo also just laid off a significant number of its mortgage workers.

Here is a copy of the LinkedIn post (click to enlarge):

Anthony Hsieh hires on LinkedIn

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

Latest Articles

Rocket Pro TPO redesigns pricing calculator for brokers

Rocket Pro TPO aims to help its broker partners grow their businesses. The new Pricing Calculator provides brokers with fast, reliable and accessible information that can help differentiate them from competitors. In the midst of this serious housing shortage, brokers need tools to help them provide top-notch service to homebuyers. 

Oct 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please