Michael Brennan has been named president of sales and operations for Nationwide Mortgage Bankers. In his new role, Brennan will oversee sales and operations across the company’s 29 offices, as well as spearhead its Affinity Platform, which adds financial wellness benefits through partnerships with organizations across the U.S. “I’m extremely excited to join a forward-thinking…
CrossCountry Mortgage has adopted FICO Score 10 T for non-QM loans and securities. The goal of using FICO 10 T is to expand the number of people eligible for mortgages based on their credit scores. FICO says its new model can increase mortgage approval rates by up to 5% without additional risk, as well as reduce delinquencies…
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…
Both Movement Mortgage and Homepoint introduced new, speed-focused home equity products as homeowners continue to seek out ways to access cash without compromising their mortgage rates. Homepoint, a wholesale lender, launched a new, 100% digital HELOC in 38 states and Washington, D.C., available through its mortgage broker partners. The company said it will expand to…
Lyra Waggoner has joined Movement Mortgage as its chief information officer, the company announced in a press release. “Movement Mortgage has an incredible vision and focus. I’m excited to translate this vision into transformational action across our technology platform by putting the best tools in the hands of our loan officers,” Waggoner said. “Movement and…
By CHUCK GREEN An apparently not so uncommon sight these days in the mortgage industry: empty desks. Not that their occupants are taking five for a foam latte. Instead, they might well have either been steeped in the pink slip blues or were compelled to submit their resignation. Over the past three months in the…
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