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CAREER & COMPENSATION

UWM disputes it mismanaged its employees’ retirement savings

CAREER & COMPENSATION, Law and legal issues, UWM /

United Wholesale Mortgage is refuting claims by former account executives that the company mismanaged its large retirement savings plan.  Plaintiffs accuse UWM of directing unvested employer contributions in the company’s 401(k) plan toward future employee contributions, rather than administrative expenses. The class action complaint suggests the money-saving moves by UWM cost workers, whose contributions then […]

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CHLA floats rewrite of LO comp rule

CAREER & COMPENSATION, CFPB News & Analysis, Industry News, Politics and policy /

As anticipation builds around potential changes to the LO comp rule, some industry stakeholders have started to chime in with their visions of what form the regulation should take. The Community Home Lenders of America, specifically, is the first to publish a blueprint of what changes should be implemented to the Loan Originator Compensation Requirements.

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Frank Martell takes new role at beleaguered tech firm

CAREER & COMPENSATION, Career moves, Industry News /

After stepping down from his recent leadership role at Loandepot, home finance veteran Frank Martell has taken the helm as chief executive of a multifamily technology firm that is currently navigating a difficult period. Smartrent, a provider of technology-powered tools and services for rental communities and other types of multifamily housing, appointed Martell president and

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Here’s how much executives at public IMBs made in 2024

Better.com, CAREER & COMPENSATION, Rocket Mortgage, UWM /

Executives at independent mortgage banks saw their average annual compensation remain largely flat in 2024 compared to the previous year, according to filings with the Securities and Exchange Commission. Some IMB leaders saw their pay rise or dip slightly due to stock awards received in 2024 — or a lack of them compared to 2023.

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MBA, Rithm, SWBC announce leadership moves

MBA, Rithm, SWBC announce leadership moves

CAREER & COMPENSATION, Career moves, Industry News /

Left to right: Michael Lima, Kim Schenck Addison, Texas-based Click n’ Close welcomed Kim Schenck as correspondent manager. In the role, she will be responsible for driving growth of the wholesale and correspondent lender’s down payment assistance program, drawing on her background in lending, loan acquisitions and secondary marketing. She joins the company, which was

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