LendingLife

ARTICLES

  • [WATCH] UWM CEO: Becoming a mortgage broker is “a lot easier than you think”

    Watch this exclusive interview with Mat Ishbia
    HousingWire Editor-In-Chief Jacob Gaffney recently interviewed United Wholesale Mortgage CEO Mat Ishbia for an upcoming HousingWire Magazine cover story detailing 2019's mortgage lending outlook. “It’s really a battle for the originator. Originators are coming to the broker channel, and I don’t think it’s much of a battle anymore, I think they’re leaving in droves from retail lenders,” Ishbia tells Gaffney.
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  • IBM lays off 310 mortgage servicing staff at Seterus

    Layoffs announced days after Mr. Cooper reveals Seterus purchase
    More than 300 employees working for mortgage servicer Seterus in Durham, North Carolina, will be out of a job come March. The news comes just days after Mr. Cooper announced it had purchased Seterus from IBM in a deal expected to close in the first quarter of the year, and coincides with layoffs in Mr. Cooper's origination channel.
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  • Mr. Cooper laying off 109 mortgage employees in California

    Latest rounds of cuts for mortgage industry
    Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that’s been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.
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  • Ask the Underwriter: How will the government shutdown affect borrowers seeking a mortgage?

    You ask, and the underwriter answers
    [Expert Commentary] By continuing to hold funding of the federal government hostage to his demand for a border wall, President Donald Trump has successfully built a (hypothetical) wall to keep borrowers from realizing the American dream of homeownership. Here's how each type of mortgage is being affected by the government shutdown.
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  • When will it be mandatory to use the new Uniform Residential Loan Application?

    And what are some of the changes?
    Originations commencing July 1, 2019 may use the redesigned URLA and all new loan applications commencing February 1, 2020 must use the new URLA.  Given that the new URLA was designed to make it easier for lenders to acquire data required by HMDA, it is expected that lenders will require use of the new URLA before the mandatory implementation date in February 2020.
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  • United Wholesale Mortgage rolls out new pricing plan

    Predicts growth for broker channel in 2019
    In 2018, United Wholesale Mortgage closed out the year with $41.5 billion in total loan volume, making up nearly a quarter of the entire wholesale industry's market share. But it looks like UWM is setting the bar even higher in 2019, as the company has recently announced plans to change its pricing philosophy in a bid to offer "the best prices and rates in America."
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  • Watch: Movement Mortgage CEO explains why buying Eagle Home retail is win-win for everyone

    Exclusive interview with HousingWire
    In a video interview, HousingWire's Editor-in-Chief asks Movement Mortgage CEO Casey Crawford 3 burning questions: Why'd you pick up Eagle? What does this mean to the culture of Movement to be expanding after some contraction? Is this going to be a trend for lending in 2019? Watch our exclusive video to hear his expert answers.
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  • IRS to resume income verification for mortgage applicants amid shutdown

    Responds to trade group pressure to make tax transcripts available to lenders
    The Internal Revenue Service will resume processing lender requests for tax transcripts to verify income for mortgage applicants despite the government shutdown. On Monday, the IRS announced it will begin working through the backlog of requests that have piled up since December 22 and that the employees involved will return to work.
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