loanDepot is accusing West Capital Lending (WCL) of hiring hundreds of loan originators as independent contractors and paying them revenue splits — practices that loanDepot claims are illegal and enabled WCL to become one of the largest mortgage brokerages in the country in just three years. The lender sued the brokerage and its founders, Eric […]
loanDepot sues WCL, alleging illegal practices Read More »
Loan officer Elizabeth Galan, who works for UMortgage in Cincinnati, has had to pivot her business strategy in 2025. Galan focuses on serving Hispanic borrowers — about 80% of her clients — in cities like Cincinnati and Dayton, Ohio, as well as northern Kentucky. Many of them hold non-permanent resident status, meaning they live in
How Trump’s immigration policies reshape mortgage strategies Read More »
loanDepot has filed a motion to dismiss a class-action lawsuit in Maryland alleging violations of loan officer (LO) compensation rules and borrower steering, arguing the plaintiffs failed to show they suffered a “concrete injury.” The lawsuit, filed in July by five borrowers who obtained mortgages from 2019 to 2021, claims loanDepot engaged in a “sophisticated,
loanDepot challenges class-action suit tied to LO comp rules, steering Read More »
Interlinc Mortgage announced Wednesday that Gary Royal has joined the company as its Southeast regional sales manager. Royal has nearly 40 years of mortgage industry experience and “brings a proven track record of leadership, growth, and team development across multiple markets,” Interlinc said in a press release. Royal, who is based in Georgia, will lead
Interlinc Mortgage adds Gary Royal as Southeast sales manager Read More »
Griffin Funding has launched an internal artificial intelligence-driven platform designed to help loan officers navigate the complex world of non-QM lending. The tool, known internally as “LIA,” pulls hundreds of pages of program guidelines into a single system and uses AI to deliver tailored answers to loan qualification questions, according to Chloe Shubin, vice president
Non-QM lender Griffin Funding unveils AI-driven underwriting platform Read More »
For decades, the mortgage industry trained us to believe our job as loan officers was clear and defined. A family or individual decided to buy a home, they came to us, and we stepped in to help them finance it. The process was straightforward: get them pre-approved, explain the numbers, shepherd the loan through closing
The loan officer’s job is gone, but the Mortgage Advisor’s job is here to stay Read More »
The Hispanic Organization of Mortgage Experts (HOME) on Tuesday announced the launch of what it claims to be the mortgage industry’s first bilingual learning management system (LMS), HOME Certified, powered by Twiz.io. The organization also introduced Wholesale Search, an AI-powered tool built on ChatGPT that takes mere seconds to match borrowers with lenders who offer
HOME launches bilingual learning system and AI-powered wholesale search tool Read More »
Consumer demand for reverse mortgage products is expected to rise as the population ages more quickly. According to estimates from Business Research Insights, the global market is currently valued at $2 billion and could reach $3.2 billion by 2033. More business is likely to push reverse mortgage companies to grow their employee headcounts. But like
As reverse mortgage demand grows, lenders may need more personnel Read More »
A small fish in the pond of fintech-focused mortgage companies is trying to race to the front in the artificial intelligence arms race. And it’s not using a typical ChatGPT-style program either. Future Technologies CEO Blake Bianchi announced on Thursday that the company is launching a full-stack, proprietary AI system that promises to automate the
Future unveils Alpha, an in-house AI mortgage system Read More »
In its quest to bring its loan officer count up to 5,000, NEXA Mortgage announced Thursday that it has brought on Eric Mitchell to assist with its goal. Mitchell will serve as a “key hire” recruiting partner for NEXA, newly appointed chief operating officer Jason duPont said in an interview with HousingWire. “We have [an
NEXA Mortgage hires Eric Mitchell to help boost LO count Read More »