Planet Home Lending has a new team in Kissimmee, Florida, the company announced in a press release. Ricardo Maldonado, retail branch manager, will lead a group of ten mortgage loan officers. The team includes several bilingual English/Spanish speakers to better serve the community. Maldonado noted the burden of home prices on regular Floridians. The group will help potential buyers find down payment and closing cost opportunities from the Florida Housing Finance Commission that may help residents buy a home now, rather than saving for years to come. They also offer seller-paid interest rate buydowns that can benefit buyers and homeowners who want to move their property quickly. “Home listing prices had risen 15.6% at the end of 2022 and the…
Kelly Zitlow is rejoining Cornerstone Home Lending (CHL) as its EVP of Sales and Engagement, the company announced in a press release. “I could not be more excited to be back ‘home’ with Cornerstone Home Lending,” she said. “During a time when many mortgage companies are struggling, Cornerstone Home Lending continues to be a standout leader in the industry, providing strength and stability in the market by expanding product/service offerings and carefully considering the needs of its clients.” Zitlow worked for CHL as a Certified Mortgage Planning Specialist for just over three years, starting in 2017. During this time, she was a nationally-recognized originator who ranked among the country’s top producers. In early 2022, however, she left the company to…
Union Home Mortgage will acquire Amerifirst Home Mortgage, the company announced in a press release. The acquisition will allow UHM to expand in key markets, leaders at UHM said. Amerifirst is based in Kalamazoo, MI, and operates across the country with a special focus on Florida, Michigan, Ohio, North Carolina, and California. Both Amerifirst and UHM are leaders in USDA lending. Amerifirst originated $2.8 billion in loans in 2021 and is ranked the number one lender in Michigan. “We founded this company to make a meaningful difference in the lives of customers, team members, and our communities. This partnership gives us the scale and ability to make an impact like never before,” said co-founders Mark Jones and David Gahm. The…
Real estate and mortgage brokerage Flyhomes announced two new executive hires. Andrea Collins and Dan Richards joined the company, which offers buying and selling services as well as in-house finances, as Chief Marketing Officer and Executive Vice President of Mortgage. Both will serve on the Flyhomes Executive Committee and report to co-founder and CEO Tushar Garg. “Bringing in the level of experience and expertise Andrea and Dan possess to Marketing and Mortgage, respectively, fills key roles within our executive team and will empower us to drive major facets of the business in 2023,” Garg said in a press release. Collins will lead the marketing team, working to increase Flyhome’s demand through brand amplification, communications, and market strategy. She joins the…
Fairway Independent Mortgage is rolling out a new program for first-time homebuyers in select communities, the company announced in a press release. The program, called Fairway Community Access, will offer qualifying first-timers up to $7,000 towards the down payment and $500 in the form of an appraisal credit, should appraisal be necessary. Borrowers who plan to purchase a home warranty will also receive a credit toward one year of warranty. Buyers in Atlanta, Baltimore, Chicago, Detroit, Memphis, and Philadelphia will be eligible for the program. They must currently reside in the designated community, have no ownership interest in any other property, and the home must be their primary residence. Fairway says FCA is designed to help buyers combat high-interest rates…
Just days ago, Inlanta Mortgage seemed poised to go under due to declining homebuyer demand. The Wisconsin-based company operates in 27 states. Leaders there announced plans to close next year, starting the winding down process immediately. The company cited “the dramatic and unanticipated drop in mortgage product demand” for its demise. In a letter to Wisconsin’s Department of Workforce Development, it said 62 employees would be let go. Some of those employees may now be saved from termination by Guild Mortgage, which announced it is acquiring Inlanta. Terms of the acquisition were not disclosed. In a press release, Guild CEO Mary Ann McGarry said the decision aligns with Guild’s expansion mindset. “Inlanta is a natural fit because of its almost…
Nations Lending has opened a new branch in Summerville, South Carolina, the company announced. Hunter Jackson will head the branch, servicing borrowers in Summerville and the Greater Charleston region. “The people at Nations and the commitment the company makes to employees’ success are the biggest reasons I joined,” said Jackson. “The company culture is second-to-none and I’m excited to make a splash. It’s amazing the ways that they support the relationship with real estate agents. I can’t wait to show my referral partners the great new things that I now have to offer!” Jackson has sixteen years of real estate experience across the spectrum of homebuying, having worked as a lender, manager, and realtor. He specializes in VA loans. His…
Mortgage originations saw their largest annual decline in 21 years, further evidence that the housing boom is coming to an end. Originations fell 47% YOY in Q3, according to ATTOM Data’s Q3 2022 U.S. Residential Property Mortgage Origination Report. Quarter-over-quarter they were down 19%, the sixth consecutive drop. Lenders issued a total of $636.5 billion worth of mortgages in Q3. By dollar count, that’s down 22% from Q2 and 46% YOY. It’s the largest dip in loan dollar volume since at least 2001. HELOC lending increased for the fifth time in six quarters, but the boost was overwhelmed by the slump in purchase and refinance origination. “There are no surprises in this quarter’s loan origination numbers, as the unprecedented jump…
A new Motto Mortgage Affiliated office has opened in Libertyville, Illinois, the company announced. Motto Mortgage Affiliated is located outside of Chicago and serves all markets in that metropolitan area. The brokerage was established by Michael and Amy Kite. They bring nearly two decades of real estate experience to the business. “Motto Mortgage Affiliated offers an advantageous alternative to the traditional mortgage bankers currently operating in Chicagoland,” said Michael Kite. “We provide the scope, scale, and support of a large retail lender while offering the flexibility, autonomy, and exceptional service of a local mortgage broker that knows how to navigate the intricacies of the home buying process in your market.” Desmond Lawe, an industry veteran with ten years of experience,…
Dustin Wells has been named Co-President of Stronghill Capital as it expands into residential lending, the company announced in a press release. Wells, an industry veteran with more than two decades of experience, will head a new executive team focused on expanding Stronghill’s business from commercial into the non-QM, non-agency jumbo, and investor residential spaces. His leadership experience includes many executive-level roles, including COO at Wesley Mortgage, Head of Lending at Knock, and EVP, Mortgage Director at Keystone Bank. “We have a clear purpose as we grow into the Non-QM space and I look forward to bringing depth to Stronghill’s market presence at the residential level with this dynamic leadership team,” said Wells. “This crossover empowers our industry partners by…
