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CAREER & COMPENSATION

Cornerstone, former executive dismiss mutual lawsuits

CAREER & COMPENSATION, Law and legal issues, Originations, Workplace /

Dueling cases involving Cornerstone Capital Bank and a former executive have been dismissed prior to trial, with both sides claiming victory. Each party has a different interpretation of what happened in the legal matter involving former Cornerstone Home Lending executive Manuel Valdes. A former independent mortgage banker, Cornerstone acquired a Texas state chartered bank in […]

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Mortgage leaders discuss the future AI-powered workforce

Artificial Intelligence, CAREER & COMPENSATION, Editorial Research, Mortgage technology, Technology /

The rise of artificial intelligence has sparked both speculation and angst over what it might mean for mortgage professionals in the future, but the answers might be more encouraging than some expect. Historically, advances in automation eventually brought transformations seen during the Industrial and Information Ages, which were marked by the elimination of certain positions.

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Remax, Cenlar, Lower, First American grow leadership teams

CAREER & COMPENSATION, Career advancement, Career moves, Industry News /

Left to right: Mac Cregger, Jay Lapre, Scott Alexander National home lender Assurance Financial elevated Scott Alexander to chief operations officer. After joining Assurance’s over a decade ago, Alexander helped establish the company’s operations division and expand its offerings as he rose through the ranks, most recently serving as chief risk officer. With the promotion,

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Mortgage firms add staff as rate cuts look likely

CAREER & COMPENSATION, Economic indicators, Mortgage Rates, Originations, Servicing /

Housing finance firms have been adding staff as falling mortgage rates look more likely, with stronger overall job growth raising the chances of modest business gains for the industry. “This is likely to support some additional decline in rates, which will offer opportunities at the margin for people to buy,” said Doug Duncan, former chief

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Better, Neo Home Loans hype addition of Loandepot team

Better.com, CAREER & COMPENSATION, Industry News /

Better Home & Finance’s burgeoning retail operation is suggesting its technology bona fides, and a transparent compensation structure, helped lure a top lending team from Loandepot. Neo Home Loans powered by Better said it’s welcoming the Gustafson Team, a Colorado-based trio that funded over $110 million in origination volume last year. Although Better and Neo

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Why tech – not pay – will decide loan officer loyalty

CAREER & COMPENSATION, Mortgage technology, Politics and policy, Recruiting, Technology /

In June, the Consumer Financial Protection Bureau took notable steps that could significantly reshape the regulatory framework governing loan officer compensation. Among the most consequential developments was the submission of a proposed rulemaking to the Office of Information and Regulatory Affairs (OIRA), which appears to contemplate rescinding or significantly amending the current Loan Originator Compensation

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Former FHFA official seeks to empower local leaders

Capital markets, CAREER & COMPENSATION, Career moves, Politics and policy /

Antonio White built his career in high-level Washington-related posts he held at the Federal Housing Finance Agency, Treasury, Bank of America and the Bill and Melinda Gates Foundation. But he got there through the work and connections he built growing up around Route 480 in Cleveland. That’s why White is starting a business called 480

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How mortgage executives are thinking of layoffs: Fannie Mae

CAREER & COMPENSATION, Industry News /

Lenders looking to cut costs are more willing to lay off their back office staff than slash other business expenses, according to a new Fannie Mae survey. While cost-cutting wasn’t firms’ top business priority, more senior mortgage executives placed prospective layoffs above trimming general and administrative expenses. The findings in the Mortgage Lender Sentiment Survey,

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The mortgage pro’s guide to AI training

Artificial Intelligence, CAREER & COMPENSATION, Editorial Research, Mortgage technology, Technology /

As mortgage lenders weigh how to integrate artificial intelligence, technology leaders are juggling the rapid pace of innovation with the need to set realistic expectations. They’re finding that effective adoption depends as much on curiosity, patience and internal collaboration as it does on the tools themselves — and that buy-in from executives, compliance teams and

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Veterans Affairs mortgage executive John Bell III departs

CAREER & COMPENSATION, Career moves, Industry News, The VA /

John Bell III, executive director of the Department of Veterans Affairs’ Loan Guaranty Service, is leaving his role.  The longtime mortgage professional and U.S. Navy veteran had been the executive at LGY since 2022, and spent 15 years at the VA, according to his biography. In a Linkedin post late Sunday night, he announced his

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