Originating

Originating (1113)

Repeat Offender Gets Six to Eight Years for Mortgage Scam

An Oxford, Mass. man who previously served a two-year state prison sentence for a mortgage fraud scheme has pleaded guilty and been sentenced to serve six to eight years in state prison for a similar scam. Read more...

UWM CEO Reheats Rocket Beef Over Voluntary Buyout Offers

Rocket Mortgage’s recent offer of voluntary buyouts to 8% of its workforce has prompted United Wholesale Mortgage Corp. CEO Mat Ishbia to revive the longstanding rivalry between the two Michigan-based mortgage giants. So reports The Detroit News. Read more...

Sales Success is About Having the Most Realtor Friends

I’ve interviewed hundreds of top producers over the years and analyzed the behaviors and traits that set them apart. One significant differentiator? The best have the most real estate agent referral sources. They are relentless in developing their realtor relationships. Read more...

Which Candidates Make the Best Loan Officers?

Very little has been written about which candidates make the best loan officers. Some of the requisites are quite evident and you will hear these again and again. For example, a loan officer on commission must work hard and be aggressive. But there is no agreed upon formula aside from a few personality testing systems,… Read more...

Ask The Expert: How Do I Thrive with Rates Rising?

In a previous column, I wrote about success in today's rising rate environment. I have some more thoughts. As a reminder several loan officers wrote to me the following question: "Okay, Dave. You are such a guru—then when are rates going to stop going up? My production is down 75% thus far this year and… Read more...

Ask The Expert: When Are Rates Going to Stop Going Up?

Several loan officers have written to me to express the following sentiment (and some of the language was not so nice): "Okay, Dave. You are such a guru—then when are rates going to stop going up? My production is down 75% thus far this year and I am barely making a living."  Read more...

Digital Bank Revolut Looks to Break Into Mortgage Sector

Nik Storonsky, the CEO of UK-based digital banking “superapp” Revolut, said the company is contemplating expanding into mortgages. So reports Reuters. Read more...

Rocket Mortgage Offers Voluntary Buyout to 8% of Workforce

Rocket Mortgage and Amrock, its title company, have offered voluntary buyouts to 8% of their employees. So reports The Detroit News. Read more...

Wells Fargo Lays Off Home Lending Employees

Wells Fargo has started laying off workers in its home lending department. So reports Banking Dive. Read more...

The Recruitment Package

The key to marketing is to make your company look different in a positive manner. When most people are interviewed, they rarely receive anything but directions to the office. Loan officer candidates are maybe offered a rate sheet and perhaps some flyers. Shouldn’t we have a professional presentation to attract a professional? Read more...

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