Items Tagged with 'retail lending'

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  • loanDepot top 25 originator surrenders California MLO license over allegations of mortgage misconduct

    Brian Decker sits in the top 1% of the top 1% of mortgage loan production
    loanDepot VP of Mortgage Lending Brian Decker impressively sits in the top 1% of the top 1% of mortgage loan production records, but his career is now hitting a speed bump. Decker must give up his California MLO license in a settlement with the state after he was accused of failing to disclose that he'd previously run into trouble for allegedly taking borrowers' loan files with him from one job to another. Decker was also accused of directly providing loan funds to a borrower without properly disclosing where the money came from.
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  • Battle erupts over allegations that retail lenders are overcharging veterans for mortgages

    AIME's Anthony Casa accuses Fairway, Quicken, others; Fairway fires back
    For approximately 18 months, HUD, Ginnie Mae, and the VA have been looking into whether certain lenders are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. And now, retail mortgage lenders are facing new accusations that they are overcharging veterans on VA loans. But these accusations aren't coming from the government. Rather, this is some rather nasty mortgage industry in-fighting.
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  • Stearns Lending continues expansion, buying piece of Citywide Home Loans

    Also closes on acquisition of minority stake in Certainty Home Loans
    Over the last few years, Stearns Lending has been in growth mode, rolling out new loan programs and acquiring new lending channels, and it appears the company is not done growing yet. Stearns announced Tuesday that it plans to acquire an equity interest in Citywide Home Loans, an independent mortgage bank with operations in 36 states.
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  • loanDepot CEO personal net worth reportedly at $2 billion

    Anthony Hsieh set to get even richer with Amazon at the door
    While Amazon continues to build a mortgage division within its ranks, the online giant reportedly continues to search for a strategic acquisition to buy into the mortgage retail space. One name often put forward is loanDepot, though CEO Anthony Hsieh is already reportedly doing just fine without needing to sell the company.
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  • AIME: The real story is borrowers simply get a better deal using brokers

    Trade group responds to Quicken/UWM conflict
    "The disparity between the rates being offered to consumers by independent mortgage brokers through the Quicken Loans Wholesale division in comparison to the rates being offered to consumers if they go directly through Quicken Loans retail or Rocket Mortgage is substantial," said AIME Chairman Anthony Casa.
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  • Chicago-based MB Financial Bank shuttering national mortgage origination business

    Will maintain Chicago-area origination operation
    Citing the “highly competitive” mortgage lending environment, Chicago-based MB Financial Bank is shuttering its national mortgage origination business. MB Financial has 49 mortgage retail offices in 16 states, in addition to its 86 Chicago-area retail banking branches. The company said that its Chicago-area mortgage operation will remain open, while its national presence will be eliminated.
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