All Posts By Steve
eXp Realty Agents Accused Of Drugging And Raping Recruits
Lawsuit Alleges eXp Realty Turned A Blind Eye To It’s Agents Who Drugged And Sexually Assaulted Recruits A very disturbing and controversial lawsuit has been filed against eXp Realty and eXp World Holdings. The lawsuit alleges that eXp Realty “turned a blind eye” on former agents sexually assaulting women at the company events. Plaintiffs filed…
Logan Finance Pulls Plug On Consumer Loans In Georgia
Developing Story! Logan Finance Shocks Georgia Brokers. Lender Pulls Plug On Consumer Loans In Georgia. Logan Finance has shocked Georgia mortgage brokers with shock announcement. The Arkansas-based wholesale lender has pulled out of the Georgia. The company made the shock announcement yesterday. Lender Meltdown has spoken to mortgage brokers across the country. They all love…
FHA Mortgage Insurance Premiums To Be Cut By 30bps
FHA To Cut FHA Mortgage Insurance Premiums By 30bps On March 20th. White House Says Homeowners Will Save An Average Of $800 Annually The Biden Administration announced that FHA Mortgage Insurance premiums be decreased by 30 basis points. FHA charges premiums on the loans they underwrite. FHA charges the fee on top of the monthly…
Jay Farner Out As Rocket Companies CEO
Jay Farner Out As Rocket Companies CEO As Rumors Grow Louder Of Dan Gilbert Wanting To Sell The Company Rocket Companies CEO Jay Farner is leaving Rocket on June 1st. However, the company says his departure is not because of any dispute with the board of directors. Rocket filed a statement with the SEC last…
Northpointe Bank Exiting Correspondent Lending
Northpointe Bank Joins The Exodus Of Lenders Leaving Wholesale Lending And Correspondent Lending Northpointe Bank announced that it is exiting correspondent lending. The bank announced today that the last day to lock or relock a loan is on February 17, 2023, by 5:00 ET. Northpointe also stated that the absolute last day to fund a…
New York Community Bank Is ‘Restructuring’ Mortgage Operations
New York Community Bank Says It Will Eliminate 69% Of It’s Mortgage Lending Offices After Merger With Flagstar Bank New York Community Bank announced Tuesday it is “restructuring” its mortgage operations. Insiders translate that as the bank closing over two-thirds of it’s mortgage lending offices. The also announcement comes after NYCB completed it’s merger with…
First Internet Bank Closing It’s Consumer Mortgage Business
First Internet Bank Decides To Close It’s Consumer Mortgage Business After Facing Steep Declines In Origination Volume First Internet Bank is shutting down its consumer mortgage business. The Indiana based lender claims its due to a steep decline in mortgage volumes. The company also said the negative outlook for mortgage lending also contributed to the decision. First…
Flagstar Bank Pulls Plug On Retail Mortgage Lending
Flagstar Bank Pulls Plug On Retail Mortgage Lending. The Michigan-Based Bank Lays Off Hundreds Of Employees Flagstar Bank employees posted on social media that the bank has pulled the plug on mortgage lending. The bank also fired or laid off hundreds of employees. Flagstar’s move comes nearly two months after receiving the Fed approved a…
Is Dan Gilbert Putting Rocket Mortgage On The Auction Block?
Is Dan Gilbert Planning On Selling Rocket Mortgage Amid Plummeting Originations, Layoffs And Talks Of “Industry Consolidations”? There is no doubt that the past year was horrible for Dan Gilbert and Rocket Mortgage. The company saw profits plummet faster than contestants on a Japanese game show. Seriously, Rocket Mortgage has seen their profits plummet 90%…
Is Rocket Mortgage CFO Brian Brown Blowing Smoke?
Is Rocket Mortgage CFO Brian Brown Blowing Smoke To Make Rocket Mortgage Look More Profitable Than It Is? Rocket Mortgage CFO Brian Brown says first-time homebuyers will drive the housing market in 2023. Brown made his prediction during a one-on-one conversation with Fitch Ratings Director Shampa Bhattacharya. Brown speculated that first-time home buyers will drive…