Lending

Lending
News and information related to retail lending, wholesale and correspondent, and mortgage origination. General economic trends get worked in here, too; GDP, jobs, apps, rates.

ARTICLES

  • Consumers can now freeze their credit for free

    Credit reporting agencies can no longer charge for credit freezes
    It hopefully just got a little more difficult for scammers to abuse someone’s credit information, because, as of Sept. 21, 2018, consumers can now freeze their credit at all three of the major credit reporting agencies, for free. Consider this one the “Equifax rule.”
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  • BMO Harris getting rid of their face-to-face Loan Officers

    Citing customer preference, the bank will put its weight behind centralized call center
    BMO Harris Bank is getting rid of most of its customer-facing mortgage loan officers. According to a report from Milwaukee Journal Sentinel’s Paul Gores, the Chicago-based bank is going to put its energy behind its centralized mortgage call center and minimize its face-to-face LO presence in response to changing customer behavior.
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  • USAA Bank plans to layoff 265 employees in November

    The bank’s real estate lending operations employees will be impacted
    As the mortgage industry continues to navigate a tumultuous market, many are finding ways to offset costs. USAA Bank is just one of the many companies downsizing to stay afloat. The bank recently announced it will lose 265 employees in November.
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  • PromonTech integrates with GSF Mortgage

    GSF will bring Borrower Wallet to its customers
    PromonTech, a 2018 HousingWire Tech100 winner, recently announced it has integrated its point-of-sale platform, Borrower Wallet, with GSF Mortgage to further improve customer experience. GSF Mortgage Corporation President Chad Jampedro stated the company's mission is to deliver a safe, efficient and smooth transaction to for customers.
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  • Wells Fargo expects to cut as many as 26,500 jobs in the next 3 years

    Company reveals planned headcount reduction of between 5%-10%
    It’s been a rough few years for Wells Fargo and the next few years won’t be much better, for as many as 26,500 of the bank’s employees. That’s because the bank announced Thursday that it expects to see a reduction in headcount of as much as 10% of the company’s workforce in the next three years. The company currently has approximately 265,000 employees, meaning as many as 26,500 could be out of a job by 2021.
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  • HousingJobs: Why the job market for loan officers is promising

    The numbers show a rewarding career as a LO
    Job hunting can be frustrating. At HousingWire, we want to make the process easier for job seekers in the industry. Our new service, HousingJobs, lists the latest gigs in the housing industry for loan officers, underwriters, processors, loan servicers, and tech and marketing pros. Check out this monthly blog for the latest job postings along with some industry insight.
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  • Cryptocurrency exchange Coinbase nabs top Fannie Mae exec Brian Brooks

    Fannie Mae general counsel leaving after 4 years
    Once rumored to be on the Trump administration’s shortlist to lead the CFPB, top Fannie Mae executive Brian Brooks is set to leave the federal government behind for the cryptocurrency industry. Brooks, who has served as Fannie Mae’s executive vice president, general counsel, and corporate secretary for almost four years, is stepping down from that position Friday to become the chief legal officer of Coinbase, one of the world’s largest digital currency exchanges.
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  • Maxwell launches new API to streamline loan applications

    Releases ApplyID to help minimize customer involvement
    Tech 100 winner Maxwell just launched a new loan application and data enrichment API it has dubbed Maxwell ApplyID. According to Maxwell, the new tech enables clients to pre-populate loan application data and develop new customer intelligence capabilities with little to no hassle.
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  • [LISTEN] SimpleNexus in the Winner's Circle

    How the company is making loan officers' lives easier
    SimpleNexus recently secured a multimillion dollar investment and Miller discusses how that money is fueling the expansion efforts at the firm, and making life easier for loan officers. In this edition of In The Winner's Circle, Editor-in-Chief Jacob Gaffney sits down with Ben Miller, SimpleNexus president and COO and asks him why LOs should invest their time and money in his product.
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  • Freddie Mac: Mortgage rates reach highest level since May

    Mortgage rates inch forward for fourth consecutive week
    Mortgage rates inched forward for the fourth consecutive week, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said the 30-year fixed-rate mortgage increased once again to its highest level since May.
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Paulina Gonzalez

Paulina Gonzalez

Paulina Gonzalez is the executive director of the California Reinvestment Coalition, which advocates for the right of low-income communities and communities of color to have fair and equal access to banking and other financial services. CRC has a membership of over 300 nonprofit organizations and public agencies across the State. Follow her on Twitter @calreinvest