Loandepot has elevated two executives as it makes changes to its sales and originations divisions, part of an ongoing effort to return to profitability in the wake of disappointing second quarter results this week. Tom Fiddler is stepping up to take on the newly-created position of president of retail lending. Fiddler, who previously oversaw loan […]
Loandepot shuffles leadership in search for profit Read More »
Left to right: Gregory Buehler, Chris Simms Underwriting mortgage platform Friday Harbor ramped up its growth with two new leadership hires: Chris Simms and Gregory Buehler. The current president of the Mortgage Bankers Association of St. Louis, Simms joins the Seattle-based fintech as head of strategic partnerships, responsible for developing customer relationships and cooperation with
Loandepot, Onity, Cenlar announce leadership moves Read More »
Real estate and mortgage intelligence provider Ingenius announced an acquisition and integration of a new recruitment platform aimed at helping retail branch managers into its own data tools. The Pompano Beach, Florida-based technology firm welcomed the deal that combines SIMPL with Ingenius’ data software. Built by longtime mortgage sales leaders Fobby Naghmi and John Perry,
Ingenius acquires loan officer recruitment platform Read More »
A class action lawsuit claims Loandepot since 2019 has steered borrowers to higher rates and punished its loan officers who didn’t steer customers by giving them little to no commission. Five borrowers filed the complaint Tuesday in a Maryland federal court, accusing the major lender and servicer of violating the Truth in Lending Act. They’re
Suit alleges Loandepot steered borrowers in LO comp scheme Read More »
Ryan Alexander was on a cruise with his family when he received news he already felt in his bones was coming: the Department of Government Efficiency cut the project he was working on via his consultancy firm. He was officially out of a job. Though the news was jarring, Alexander’s family rallied around him—and encouraged
How a DOGE-cut employee became a full-time mortgage broker Read More »
Florida has enacted a new non-compete law that gives employers broad power. The Contracts Honoring Opportunity, Investment, Confidentiality and Economic Growth, or CHOICE Act, passed earlier this month, according to media reports. The bill, lobbied by hedge fund billionaire Citadel CEO Ken Griffin, allows employers to extend non-compete agreements up to four years, among other
Strict new non-compete law in Florida empowers employers Read More »
Synergy One Lending’s CEO Steve Majerus is taking a stand against “toxic” recruiting culture. In a company-wide address, Majerus bemoaned “unscrupulous” recruiters who have recently conjured up “outrageous” claims in an effort to recruit away Synergy’s top talent. “The claims about financial instability or margin calls and challenges… are not only false and completely fabricated,”
“Unscrupulous” recruiters called out by Synergy One CEO Read More »
Union Home Mortgage announced Tuesday the expansion of its footprint in the Midwest. A team of 16 employees, led by two former UMortgage managers, will join UHM’s existing team in Cincinnati, Ohio, according to a news release. Ravi Patel and Justin Allen, who spent more than two years at mortgage brokerage UMortgage, will both serve
Union Home nabs branch led by ex-UMortgage team Read More »
Before most of the public understood terms like “artificial intelligence” and “data science” Onity Group’s Jack Cavanagh was exploring how the fundamentals behind their development might apply to mortgage origination and servicing. The growth from machine learning to the large language models and generative AI we know today can be seen as a continuum, and
How Onity Group is making use of AI Read More »
Kevin Wall, who abruptly departed First American as co-president of its title underwriter one week ago, has a new job: CEO of Title Resources Group. Current CEO J. Scott McCall is becoming the privately held company’s vice chairman. The changes become effective July 28. Kevin Wall is the new CEO of Title Resources Group. Last
Former First American Title co-president joins TRG as CEO Read More »