As Production Skids, Underwriter Costs ‘Correct’ July 19, 2022 Paul Muolo Loan underwriter salaries have dropped significantly from their refi peaks...Read More
How Bad Might the Mortgage Layoff Picture Get? July 18, 2022 Paul Muolo In less than a year, Better has reduced its headcount by 72%... Read More
State Regulators Set Work-From-Home Best Practices July 15, 2022 Brandon Ivey Individual states have the ability to allow or deny lenders the option of having LOs work from home...Read More
Better.com the Subject of an SEC Inquiry, Fintech Posted Large Loss in 1Q22 July 14, 2022 Paul Muolo and Brandon Ivey The fintech was sanctioned by Washington state for licensing and other violations...Read More
As the Cost-Reduction Hatchet Swings, Another Mortgage CEO Vows No Layoffs July 13, 2022 Paul Muolo CEO Cal Haupt says his employees are family, "Not the media version stated by others."Read More
Former FHFA Director Calabria in Boardland July 11, 2022 Dennis Hollier Evolve must have been a big fan of of Calabria's. In its press statement announcing the hire, it referred to him as an "industry legend." Read More
Short Takes: Is Help on the Way? (Lending Margins) / Some Evidence / Expectations of Wells / Staff Reductions, Finding Positions / Lower FHA Premiums? July 11, 2022 Paul Muolo Wells Fargo said roughly 35% of the mortgage workers it cut are "moving into other roles" within the bank...Read More
A Carnage in Mortgage Employment: 5,000 Jobs Disappear in a Month July 8, 2022 Paul Muolo Over the past few months, scores of originators have introduced reductions-in-force in an effort to rightsize their operations...Read More
Non-QM Lender Sprout Closes Its Doors July 7, 2022 Paul Muolo Sprout officials could not be reached for comment...Read More
MBA Sees Progress in Loan Officer Remote Work Legislation July 6, 2022 Sam Manas However, as MBA points out, it can sometimes take longer to get things done in California...Read More