Another Motto Mortgage franchise has opened, this one in Houston, TX.
Motto Mortgage Luxe Group is a Black-owned, full-service mortgage brokerage headed by Angela Martin and Toi Parnell.
Martin and Parnell bring a combined forty years of mortgage industry experience to the branch. Parnell most recently worked as a branch manager and senior loan officer at Nexa Mortgage and has also managed branches for LeaderOne Financial and Geneva Financial.
Both will originate mortgages in the new office.
“Motto Mortgage Luxe Group offers an advantageous alternative to the traditional mortgage bankers currently operating in Houston,” said Martin. “We provide the scope, scale and support of a large retail lender, while offering the flexibility, autonomy and exceptional service of a local mortgage…
By KIMBERLEY HAAS
Leaders at JPMorgan Chase have announced they acquired the substantial majority of assets and assumed the deposits of First Republic Bank from the Federal Deposit Insurance Corporation.
According to a press release issued on Monday, JPMorgan Chase will assume about $92 billion of deposits, including $30 billion of large bank deposits, to be repaid post-close or eliminated in consolidation.
The financial services firm, with operations worldwide, will acquire about $173 billion of loans and about $30 billion of securities, according to the press release.
Jamie Dimon, chairman and CEO of JPMorgan Chase, said government officials invited them and others to step up and take over the troubled First Republic.
Shares of First Republic dropped on Friday and…
Mortgage business growth platform Unify introduced a new product for finding quality leads, the company announced in a press release.
A subsidiary of Lone Wolf Technologies, Unify is a business growth platform designed for the residential mortgage industry. It serves some of the industry’s largest lenders, banks, credit unions, and brokers, with $47 billion in loans closed and just under one million loans originated annually.
Prequalified Leads gives users prequalified mortgage information that doesn’t impact customer credit scores.
“Unify understands the current economic conditions and how that can affect the hyper-competitive mortgage market,” said Rodney Eten, Director of Application Development.
“Our goal is to continue to provide our clients with industry-leading product solutions that enhance their business. Introducing Prequalified Leads…
Impac Mortgage’s common stock has been delisted from the New York Stock Exchange as the lender switches gears.
In an announcement Wednesday, officials at the exchange said Impac’s stock would be suspended immediately while the delisting proceedings are underway.
According to NYSE, Impac is not in compliance with the $2 million, $4 million, and $6 million shareholders’ equity requirements (Section 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide).
“Because the Company informed the NYSE American in its required quarterly plan update that it cannot continue to demonstrate an ability to return to compliance by February 26, 2024, which was the date the NYSE American originally granted the Company to regain compliance with the NYSE American’s continued listing standards,…
By KIMBERLEY HAAS
As the housing market moderates after a whirlwind pandemic ride, affordability continues to be a chief concern for consumers and mortgage providers are responding with a variety of programs to encourage potential buyers to get off the sidelines.
Leaders at Rocket Mortgage say that a major hurdle on the path to homeownership for their clients is saving for closing costs and earlier this month they announced a national program where buyers can receive help through BUY+, a collaboration with Rocket Homes.
Buyers can receive a credit of 1.5% of their loan amount – up to $10,000 off their closing costs – by working with a Rocket Homes Partner Agent. Those working with an unaffiliated real estate professional…
Brian McKray has joined Mobility Market Intelligence as director of product development, the company announced in a press release.
In his new role, Mr. McKray will be responsible for overseeing the product development team, as well as managing new product launches and enhancing existing products to meet customer expectations.
“I’m thrilled to work with people I’ve known, respected, and interacted with on a variety of levels for so many years. To be part of this dream team that Ben [Teerlink] has put together is exhilarating and flattering at the same time,” McKray said.
Utah-based Mobility Market Intelligence offers data intelligence and market insight tools for the mortgage and real estate industries.
With over 20 years of experience, McKray has held…
Guild Mortgage continues its expansion efforts, announcing a new district in California made up of eight branches.
The branches have 40 new Guild employees, led by district manager John Lowe, who will report to regional vice president Mike Ferreira.
“Guild’s reputation and history of stability were a major draw for our group, giving us the confidence to make the move, become part of one of the best organizations in the industry, and continue to build on the success we’ve achieved together,” said Lowe.
“Guild’s business model and ability to service the majority of its home loans means each member of our team can make a long-term commitment to help every customer beyond the closing of a loan, which is a…
Tom Rice has been named SVP of Sales and Account Management at mortgage tech and marketing company Volly, according to a press release.
Rice brings more than two decades of experience to the position, having previously served in leadership roles at Open Lending and CUNA Mutual.
“I am thrilled to be a part of the Volly team,” said Rice. “I joined the company at a very exciting time. Volly is an incredibly innovative company with a people- and values-first approach that I greatly admire.”
In his new role, he will lead Volly’s sales team while increasing revenue growth through new initiatives and programs.
“I am beyond excited to have Tom join us here at Volly,” said CEO Katharine Loveland. “His…
Investors’ lender Kiavi has named Alex Urmersbach as Chief Financial Officer, the company announced.
In this position, Urmersbach will head the company’s finance, accounting, capital markets, and business operations divisions.
“I couldn’t be more excited to join Kiavi, especially as the company continues to demonstrate impressive growth and differentiation in this challenging macroeconomic environment,” he said.
“I look forward to working with the Kiavi team to build on its already strong foundation, and am deeply committed to the organization’s mission of providing real estate investors with the capital they need to scale their businesses and revitalize aged homes across the country.”
Kiavi is a private lender focusing on residential real estate investors, with more than $13 billion in funded loans.…
Parvesh Sahi has joined tech company Polly as Chief Revenue Officer.
In his new position, Sahi will be involved in corporate strategy, business development, sales, and account management.
“I’m very happy to share that I am rejoining the mortgage industry with Polly as Chief Revenue Officer. I can’t tell you how excited I am about the tech and team that Polly is putting together to solve real industry needs. Looking forward to catching up with everyone,” Sahi wrote in a post.
Polly is a data-driven capital markets ecosystem providing a Product and Pricing Engine and Loan Trading Exchange, as well as actionable data and analytics, to banks and lenders across the country.
Sahi joined Polly from ICE Mortgage Technology, where…
