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Ryan Ogata has been leading the reverse mortgage division speed — Recently renamed Guaranteed rate — for about a year, but the department has grown significantly in that time. Home Equity Conversion Mortgage (HECM) Endorsement Data Reverse Market Insights RMI’s Jon McCue noted in a recent interview with RMI that the company’s endorsement volume is up about 870% through July house lineReverse Mortgage Daily (RMD). To better understand the company’s trajectory, Ogata recently sat down with RMD to discuss the dynamics of Rate’s reverse mortgage business and how it has grown during his time at the helm. Learn and grow…
A senior U.S. administration official has pushed back on comments by Benjamin Netanyahu, accusing the Israeli prime minister of making “extremist comments” that are “unconstructive toward reaching a ceasefire agreement.”The move comes as U.S. Secretary of State Antony Blinken embarks on a tense round of regional diplomacy as Washington tries to push for progress on a ceasefire and hostage release deal. Blinken held three hours of talks with Israeli leaders in Jerusalem on Monday. He later said Mr Netanyahu had accepted what Washington called a “transition proposal” aimed at resolving thorny issues and bringing Israel and Hamas closer to a…
In the latest episode of the Power House Podcast, house line CEO Clayton Collins talks with Chief Production Officer Randell Gillespie reduce 2023 HousingWire Pioneer Award Winner. The pair delved into a number of topics, including Lower’s take on acquisitions Prosperity Mortgage and universal loan. They also discuss fintech developments for loan officers, recruiting, and even the CPO’s favorite burger. Gillespie joined Lower last year after acquiring Thrive Mortgage. Collins began the conversation by asking Gillespie for some background on Lauer’s executive team and how each member brings their unique perspective and experience to the table. Gillespie said the company…
in this article Remember before the financial crisis of In 2008, when anyone with a pulse could get a loan and some without a pulse could get one, when appraisers inflated values and cash back at closing was common? Three New York tri-state area investors jumped in their DeLauries and traveled back to 2007 because they had just committed to a creative financing scheme. cincinnati Multifamily Apartment complexes would shock the audacity of old-school scammers. Inflated prices and forged documents according to a Recent articles published by CoStarDepartment of Justice (DOJ) investigators uncovered a multi-year scheme that cost business brokerage…
Getty ImagesHulk Hogan took off (one of his) tops at the Republican convention in Milwaukee last month, where he endorsed Donald TrumpWrestling legend Hulk Hogan joked in front of an excited crowd about body-slamming Vice President Kamala Harris and questioning her racial identity.In a video obtained by TMZ, the 71-year-old can be seen asking the jeering crowd, “You guys want me to body slam Kamala Harris?!””You want me to put my leg on Kamala?!” he yelled, referring to one of his signature wrestling moves.The comments, made during a promotion for his new beer, come amid calls for an end to…
Real Estate Technology Company Rex data Launched its centralized, cloud-based software-as-a-service (SaaS) platform. The product, which went live earlier this month, helps streamline real estate services for MLSs, brokerage firms, appraisers, affiliates, data consumers and REALTORS® associations. The platform provides industry professionals with a single source of property listings and data, thereby promoting collaboration among industry professionals and the transparent sharing of listing information. Additionally, users have full control over whether their listings are syndicated to the portal. “Our platform solves the inefficiencies caused by fragmented MLS systems and outdated technology by providing a transformative single source of truth through…
Perini Navi Press OfficeFile photo of Bayes yacht sailing off the coast of ItalyProfessional divers continue to search for six people aboard a luxury superyacht that capsized off the coast of Sicily on Monday morning, but questions are being raised about the cause of the ship’s sinking.The ship left the Sicilian port of Milazzo on August 14 and was last tracked east of Palermo on Sunday evening, with a sailing status of “anchored,” according to ship tracking app Vesselfinder.The ship is believed to have been struck by a tornado, also known as a waterspout, on the water, causing the Bayes…
this American Bankers Association (ABA) last week Consumer Financial Protection Bureau (CFPB), in which it expressed “serious concerns” about a proposed rule that would ban medical debt from appearing on consumer credit reports. The proposal would prohibit credit institutions from sharing such debt with mortgage lenders, and mortgage lenders would be prohibited from making lending decisions based on how such debt affects an applicant’s financial situation. The ABA agreed with one narrow element of the proposal — excluding credit issued by third-party lenders from the term “health information.” But the rest of the proposal raises serious concerns, including possible violations…
Getty ImagesUkrainian police are trying to persuade residents to flee Russia’s offensive on ToletskThe Russian military said it had captured a small town in eastern Ukraine called Nyok as part of a push toward the large population center in the Donetsk region. The Ukrainian military has not confirmed the crash in Nyuk, saying only that Russian forces were attacking near the town and other areas. The statement said the army responded to the attack with a “worthy response… but the fighting continues”.Although only a small settlement, taking control of Nyok would mean another step toward the two Donetsk hubs of…
The Independent Mortgage Bank (IMB) finally sees the light at the end of the tunnel after two tough and unprofitable years in the mortgage industry. In the second quarter of 2024, IMB and Charter Bank’s mortgage subsidiaries averaged a net pretax profit of $693 per loan, up from a loss of $645 per loan in the previous quarter, according to IMB data. Mortgage Bankers Association (Master of Business Administration). “Production costs per loan decreased by approximately $1,800 as quarterly transaction volume, productivity and application closing times increased. Although production revenue declined from the prior quarter, these developments resulted in better…