Rocket Pro TPO Announces New Initiatives For Broker Success

Rocket Mortgage’s Rocket Pro TPO, which works with independent mortgage brokers, announced tech changes to help brokers grow and strengthen their businesses. Rocket Pro TPO Executive Vice President Austin Niemiec outlined the new additions in a presentation. “We believe true leaders help brokers succeed. They view the world with a limitless mindset. The mortgage market is huge, the pie is nearly infinite, and it’s our responsibility to help the brokers who work with us get a bigger piece of it,” he said. “Today’s announcement is about breaking barriers and building bridges – helping brokers leverage the tools, resources, and knowledge Rocket Mortgage has built as the nation’s largest mortgage lender.” Niemiec announced a new tech addition called Client Portal, available…

Scott Griffin Financial Taps UWM’s Levitt for CGO Spot

Former United Wholesale Mortgage (UWM) executive Judie Levitt joined Scott Griffin Financial as chief growth officer, the company announced in a statement.  Chief growth officer is a new position at Scott Griffin. In that role, Levitt will focus on expanding the company into new markets. “We are very excited to have Judie join our team at Scott Griffin,” said Aliza Falk, chief operating officer.” “With our founder Scott Griffin hosting a national show on CNBC, it made sense to expand the mortgage division to the national spotlight, and Judie has a proven track record of recruiting the perfect talent for growth. We are so thrilled to bring on such a talented and passionate industry leader.” Levitt worked at UWM for…

Carrie Weber Joins LendingHome As CRO

LendingHome announced that senior executive Carrie Weber has joined the company as chief risk officer (CRO). Weber will oversee risk and compliance activities and design a risk management strategy intended to bolster LendingHome during a period of growth for the company. LendingHome recently announced it will change its name to Kiavi this year. It is one of the largest lending companies in the country, catering to professional real estate investors, and has originated more than $7.8 billion in loans. “Managing risk is critical for every company and we’re eager to add Carrie’s experience and unique perspective to our management team,” said LendingHome CEO Michael Bourque.  “We’re very confident that she’ll help us create a nimble and modern risk management system…

UWM Backpedals On Crypto ‘Stunt’

Over the summer, United Wholesale Mortgage (UWM) created a “bang” in the marketplace with the news it would begin accepting cryptocurrency for mortgage payments. But now it appears the initiative may be reduced to a whimper. “We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” CEO Mat Ishbia told investors in August. Among the currencies on the list: Bitcoin, Dogecoin and Ethereum. But just two months later, Ishbia announced that UWM has processed just six such mortgage payments thus far, and it will not be widely accepting the experimental currencies after all. “Due to the current combination of incremental costs and regulatory uncertainty in the Crypto…

Hutchens Hints At New Non-QM Tech

Angel Oak Mortgage Solutions is focusing on streamlining the process of closing non-qualifying mortgage (non-QM) loans so that it more closely resembles closing an agency loan. “It’s a priority for us,” Angel Oak executive vice president of production Tom Hutchens told the MPA. Angel Oak is reportedly investing in technologies to automate more of the non-QM underwriting process. Non-QM loans are still mostly manually underwritten, while agency lending is almost fully automated. “You think of Rocket Mortgage, where you ‘click a button, get a mortgage,’ and it has almost become the industry norm. It’s not quite that easy. It’s nice to at least make it look like it is,” he said. Non-QMs are sometimes associated with the financial crash of 2008,…

3,000 Mortgage Pros Attend AIME Conference

The Association of Independent Mortgage Experts (AIME) hosted its 4th annual Fuse National Conference, a conference for brokers and wholesale mortgage professionals. It is the largest nationwide gathering of independent mortgage professionals in the industry. The conference spanned three days, with a pre-event dedicated to empowering women leaders as part of AIME’s Women’s Mortgage Network Summit. The Women’s Mortgage Network Facebook group saw a 100% increase in membership since September 2020, so it’s not a surprise the event sold out its 400 tickets. AIME CEO Katie Sweeney gave the trade association’s keynote, during which she announced a new AIME Member Portal (AMP), along with associated membership tiers with benefits for members. The lower tiers give members access to AIME’s Facebook…

Lawsuit Says ‘Narcissistic’ Hsieh Pushed loanDepot to Accept Mortgage Apps Without Docs

Tammy Richards, loanDepot’s former chief operations officer, is accusing her former employer of pushing its workers to accept mortgage applications without documentation. The allegations are found in a civil lawsuit Richards filed against the company on Wednesday. News of the lawsuit was first reported by The New York Times. The lawsuit specifically targets Anthony Hsieh, founder and CEO of California-based mortgage lender, as well as the company’s general counsel Peter Macdonald and ten other unnamed “Does.” “Ms. Richards began to grow concerned about Hsieh, having recognized that his behavior had become more alarming than his usual over-the-top, narcissistic, grandiose personality traits,” the lawsuit alleges. “And that based upon her past experience with Hsieh’s willingness to cross ethical and fiduciary boundaries,…

He’s Back! Anthony Casa To Share AIME Stage With Katie Sweeney At UWM-Sponsored Event 

11 months, 16 days.  That’s how long it took former Association of Independent Mortgage Experts boss Anthony Casa to get back into AIME’s good graces after resigning in the wake of his lewd and misogynistic video texts about the wife of a rival.  Casa, who took a leave of absence in July and officially stepped down in October, will participate in a panel discussion Friday at AIME’s annual Fuse conference – billed as the “largest nationwide gathering of independent mortgage professionals” – at the swanky Bellagio in Las Vegas. The panel will be moderated by Casa’s successor, AIME CEO Katie Sweeney. United Wholesale Mortgage – a longtime backer of AIME and Casa – is the title sponsor of the conference. …

RE/MAX: Home Sales, Median Sale Price Dropped in August

Inventory grew and prices fell in August according to a new report from RE/MAX, the latest sign the current red hot housing market may be cooling. Home sales dropped 3.5% and the Median Sale Price fell 1.2% to $335,000, according to RE/MAX’s National Housing Report for August. With fall just around the corner, August’s numbers suggest there won’t be any more record-breaking high points this year. August saw homes sitting on the market for only an average of 24 days. Month’s Supply of Inventory fell from 1.5 in July to 1.3 in August. Last August it was 1.9. A six months supply indicates a market balanced equally between buyers and sellers. Of the 51 metro areas surveyed in August, zero…

UWM Launches In-House Appraisal Service

United Wholesale Mortgage (UWM) is launching an in-house appraisal service, giving its brokers an alternative to appraisal management companies (AMC) starting October 1. The program gives UWM the ability to handle the appraisal on its own by contracting directly with appraisers. UWM CEO Mat Ishbia said AMCs are “middlemen” that cause unnecessary delays in the lending process. “We understand how important it is for independent mortgage brokers to get a fast and efficient appraisal on their borrowers’ home,” Ishbia said. “This new team will be using state of the art technology, making it faster and easier, so brokers and borrowers can get the elite client service they deserve and expect from UWM.” AMCs are regulated by state agencies and are required…