leadership

Point of Sale, Appraisal, Outsourcing, Appraisal Products; Mergers and Lender Closures Continue

Every lender or investor with an “a” in their name seems to be subject to rumors and news in recent months. (More on Flagstar and American Pacific below.) Know anyone named “Bernadette”? The name is actually Latin for, “The act of torching a mortgage.” (Yes, it is cutting edge humor like that which brings you back.) Burning liens isn’t a topic, but paying them off early is, and with mortgage rates off of their highs, early pay offs, or EPOs, were a conversation topic at the conference this week. And with it, loan officer compensation follows. Can a lender pay an originator based on pull through? Yes. Can lenders pay different originators under different payment plans, as long as the originator sticks with one plan? Yes. Can a lender, if they comply with state labor law, ask for compensation back after an EPO or EPD? Yes, and it may depend on the contract signed by both parties at the beginning of employment. As always, consult your in-house counsel or a lawyer well-versed in mortgage banking. While we’re on originators, occasionally I am asked about training for brand-spanking-new loan officers. No, this is not a paid ad, but veteran LO Tanya Blanchard has created Madison Chase Academy, “6 Months to 6 Figures: A Loan Officer’s Guide to a Profitable Business” with a sneak peak on the website. (This week’s podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking.)

Dave Stevens on understanding this housing market

Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.

10 Ways To Become a Real Estate Mogul

The post 10 Ways To Become a Real Estate Mogul appeared first on Well Kept Wallet.

Navigating the She-Cession: The Intersectionality of Economic Uncertainty

Global economic downturns are sure to affect everyone to some extent. This year has seen record unemployment numbers and job losses, which have disproportionately affected women and especially women of color. This is a unique situation to the 2020 economic recession, which is why many are calling it the “she-cession.” We took a closer look

The post Navigating the She-Cession: The Intersectionality of Economic Uncertainty appeared first on MintLife Blog.

Expansion-hungry APM acquires over two dozen Lend Smart branches

APM announced an asset purchase agreement with Lend Smart Mortgage to close more loans throughout the country.

The Fed gears up for its first meeting of 2023; what will it mean for mortgage rates?

Experts predict a rate hike — but less than last year The Federal Open Market Committee’s first meeting of 2023 is near, and if early predictions are right, the group […]

The post Blog first appeared on MilitaryVALoan.com.

Wells Fargo holds CEO Scharf’s pay at $24.5 million for 2022

Wells Fargo kept Chief Executive Charlie Scharf’s pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals. Charles Scharf. Al Drago/Bloomberg Scharf’s package comprised $2.5 million of salary and $22 million in incentives, according to a … [Read more…]

Clear Capital cuts 24% of its workforce in restructuring

Clear Capital said the goal of restructuring is to help weather the current industry headwinds and prepare for the longer term. 

How to optimize your resume for employment gaps

Are you currently taking a hiatus from paid employment? Maybe you want to stay home with your kids until they’re in school. Maybe you haven’t been able to find another job after a layoff. Maybe you had some savings and took a mini-retirement. Or maybe you just wanted a break.

Self-imposed or not, taking a break from the paycheck can be scary.

You know what I find even scarier? Trying to re-enter the job market after a long hiatus.