REwired

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Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author's alone.

Movement Mortgage CEO: Robots will not replace loan officers

"You can't automate empathy"
In the most recent episode of “The Winner’s Circle”, HousingWire Editor-in-Chief Jacob Gaffney discusses a range of issues with Movement Mortgage CEO Casey Crawford, from how to increase black homeownership to how technology is changing mortgage lending. When asked about the application of artificial intelligence and automation in lending, Crawford said he anticipates that every tactical element is going to be automated but he reminds us that there is no replacement to human interaction.
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Your favorite mortgage finance publisher is upgrading, in more ways than one

HousingWire CEO: As mortgage industry evolves, so do we
The economy and housing market both look good as we head into, what should be, another robust summer home sales season. At HousingWire, our mission is Moving Markets Forward. To help our readers and clients continue to put buyers in homes, win market share and build successful businesses, we’re making some serious investments.
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Wells Fargo: You’re scaring younger generations away

Here’s why young adults may steer clear
[Op-ed] Many Millennials are looking for a trustworthy bank, but will Wells Fargo’s scandalous headlines steer them away? As I approach independence, the bank I choose will set me up for failure or success. While many seem promising, I’m definitely hesitant about this one in particular.
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Communication is key: Q&A with loanDepot’s Julius Washington

"In today’s market, communication is the biggest tool you have"
How do Loan Officers set themselves apart and earn a share of today’s smaller business pie? We asked Julius Washington, executive licensed lending officer at Foothill Ranch, California-based loanDepot. As one of loanDepot's top-performing LOs, Washington shared his perspective on what drives his personal success. 
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Loan Officers: Your social proof is capital you can't afford to lose

What is social proof and why you should care
[Commentary] Have you heard of social proof? If not, I don't blame you. It is a term that wasn't all that common 18 months ago but is now becoming a popular buzzword, with good reason. Social Proof is paramount if you want to grow your business in the internet economy and connect with the modern consumer.
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Monday Morning Cup of Coffee: Federal Reserve Board to vote on lifting Wells Fargo’s growth restrictions

Plus St. Louis Fed President James Bullard says further rate increases aren’t necessary
Following pressure from Sen. Elizabeth Warren, Federal Reserve Chair Jerome Powell has indicated that the Fed's Board of Governors will hold a vote to decide whether or not to lift growth restrictions placed on the megabank. Plus, here's why Capital One putting a stop to mortgage lending is good for its investors.
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How data and technology innovation are transforming valuations

Technological paradigm shift underway is setting a new standard for valuations
[Expert commentary] Technology innovation is rapidly permeating every aspect of mortgage lending to streamline the loan manufacturing process and open the door to a better borrower experience. We are already seeing a measurable reduction in turn times with no degradation in quality, and more progress is expected. The desire to achieve more efficient and accurate valuations that will bring consumers to the closing table faster is no longer an aspiration, but a reality.  
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