Skip to main content

Loan Factory Sued By Originators For Alleged Use Of Unauthorized Information

Loan Factory Sued By Originators For Alleged Use Of Unauthorized Information

loan-factory-sued-by-originators-for-alleged-use-of-unauthorized-information

California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business. Loan officer Derek Daniel Bobadilla and the class members represented by Johnson & Johnson LLP claimed that they have […]

Book Authors Want Loan Officers To Have An Edge In A Highly Competitive Market

book-authors-want-loan-officers-to-have-an-edge-in-a-highly-competitive-market

In a fiercely competitive market, mortgage originators need to rethink everything to gain market share and become savvy. From leveraging the latest in artificial intelligence (AI) and digital marketing to mastering financial literacy, mortgage and real estate professionals have come together to provide these skills to loan officers in a new book titled, “Rethink Everything: […]

Xactus Names Chief Operating Officer

xactus-names-chief-operating-officer

Mortgage technology firm Xactus named Michael Crockett as its chief operating officer. He previously served as the company’s chief data officer. In his expanded role, Crockett will guide day-to-day operations and key departments at Xactus, including credit, verifications and tenant screening. Crockett will also evaluate internal and external customer experiences, with a focus on enhancing […]

Newrez Sues Former Employee For Soliciting Senior Executives To Join Competing Lender 

newrez-sues-former-employee-for-soliciting-senior-executives-to-join-competing-lender 

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. OneTrust Home Loans, a direct competitor of Newrez’s retail mortgage business, conspired with James Hecht, former Newrez […]

Rocket Lost Money Last Year, So Why Are Its Shares Up?

rocket-lost-money-last-year,-so-why-are-its-shares-up?

Rocket Companies, the parent of Rocket Mortgage, lost money in 2023, but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability.  Despite reporting a GAAP net loss of $390 million in 2023, investors seem to be sold on the company’s path towards Rocket’s “AI-fueled […]

FundingShield To Provide Title Fraud Solutions To CoreLogic amid Spike In Cyberattacks

fundingshield-to-provide-title-fraud-solutions-to-corelogic amid-spike-in-cyberattacks

Fintech FundingShield will provide comprehensive title fraud solutions via an advanced programming interface (API) integration to CoreLogic‘s digital mortgage platform. The partnership comes amid wire and title fraud risk reaching an all-time high in fourth-quarter 2023. About 52% of transactions had issues that led to a risk of wire and title fraud, according to FundingShield. […]

Hispanic Household Wealth Tripled Over The Past Decade: NAHREP

hispanic-household-wealth-tripled-over-the-past-decade:-nahrep

Hispanic household wealth ballooned to $63,400 in 2022, growing more rapidly than any other demographic group in the country, according to a recent report published by Hispanic Wealth Project, a nonprofit established by the National Association of Hispanic Real Estate Professionals (NAHREP). While other racial and ethnic demographics have seen an increase in household wealth […]

Premier Lending Inc. Adopts FICO Score 10 T 

premier-lending-inc.-adopts-fico-score-10-t 

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,” the company stated in a […]

AlphV/BlackCat Claims Credit For LoanDepot Cyberattack

alphv/blackcat-claims-credit-for-loandepot-cyberattack

Infamous ransomware gang AlphV/BlackCat claimed it was behind the January cyberattack at top 15 U.S. mortgage lender loanDepot. loanDepot, which originated about $17 billion in mortgages in the first three quarters of 2023, had reported that a cyberattack brought down the company’s systems earlier this year. The ransomware gang claimed it offered loanDepot $6 million […]

Here’s How A Mortgage Coaching Platform Wants To Carve Out A Niche In A Competitive Market

here’s-how-a-mortgage-coaching-platform-wants-to-carve-out-a-niche-in-a-competitive-market

Cautious optimism is prevalent in the mortgage industry for 2024 as industry professionals anticipate the recovery of lost origination volume.  To take advantage of the shifting market, two key areas that loan originators should be focusing on are “nurturing and cementing relationships with preapproved borrowers,” said Tim Braheem, founder and chief content creator of The […]

Top Guaranteed Rate LO Shant Banosian Joins Board Of Healing Realty Trust

top-guaranteed-rate-lo-shant-banosian-joins-board-of-healing-realty-trust

The nation’s top loan officer, Guaranteed Rate’s Shant Banosian, joined the board of directors at Healing Realty Trust, a healthcare-focused real estate investment company. Established in 2022, the real estate venture carved out a niche focusing on healthcare properties in the $1 million to $15 million price range – including those for behavioral, physical and […]

Logan Finance Corp. Hires New COO

New York-based mortgage lender Logan Finance Corp. named Sarah Gonzalez as its chief operating officer. Gonzalez will be in charge of planning and executing the lender’s objectives and initiatives, according to her LinkedIn profile. She brings more than 25 years of experience in the mortgage industry to her new position. Gonzalez’s most recent position was at […]