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Mortgage brokers

First Federal Bank sells third-party mortgage origination unit

First Federal Bank sells third-party mortgage origination unit

M&A, Mortgage brokers, Mortgages, Strategic plans /

A Florida-based financial institution is selling its third-party origination division and a mortgage fulfillment unit that’s part of it to a Chicago-based credit union service organization. Processing Content First Federal Bank struck a deal to sell the TPO division, which includes the QRL Financial Services unit, to the Chicago-based Mortgage Forward. The buyer will incorporate […]

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GO Mortgage wants to fix ‘broken’ wholesale business model

GO Mortgage wants to fix ‘broken’ wholesale business model

Mortgage brokers, Mortgage technology, Originations, REALTORS & HOMEBUILDERS, Underwriting, Wholesale lenders /

GO Mortgage is the latest mortgage lender to start a wholesale operation, but it is coming at it from a different point of view: The current way this business is done is not just inefficient; the model is broken. Processing Content “We didn’t have the burden of legacy, process, technology and people,” Jay Promisco, the

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Mortgage brokers embrace AI but seek better tools, training

Artificial Intelligence, Mortgage brokers, Mortgage technology /

Mortgage brokers are active users of ChatGPT and ready to add artificial intelligence tools to their workflows, but a majority still have questions surrounding which software best serves their needs. Processing Content More than half, or 55%, are already implementing AI on a regular basis, with approximately 35% already considering themselves daily users, according to

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UWM’s Ishbia talks surprise partnership with past Rocket foe

Industry News, Mortgage brokers, Mortgage technology, UWM /

A lunch meeting between once bitter adversaries turned into a business agreement that few in the mortgage industry saw coming this week.  Processing Content Now aligned on the same side, United Wholesale Mortgage CEO Mat Ishbia and longtime Rocket executive Mike Fawaz raised eyebrows with their eye-opening new alliance that provides a big boost and

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Flourish launches mortgage platform to help RIAs retain assets

Flourish launches mortgage platform to help RIAs retain assets

Cash, Fintech, Industry News, Mortgage brokers, RIAs, Technology, Wealth management /

On Tuesday, advisor tech provider Flourish launched a residential mortgage platform aimed at helping RIAs prevent asset outflows to banks and wirehouses during home financing decisions.  Processing Content The new offering, Flourish Lending, is available to more than 1,100 RIA firms on the platform and supports refinancing, cash-out refinancing and new home purchase loans of

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Rocket Pro executive Mike Fawaz leaves the megalender

Rocket Pro executive Mike Fawaz leaves the megalender

CAREER & COMPENSATION, Career moves, Mortgage brokers, Rocket Mortgage /

Rocket Pro leader Mike Fawaz, one of the company’s most public-facing leaders, has left his position.  Processing Content The executive vice president, who’s been with Rocket since 2011, made his announcement in a Linkedin post Monday, and his employer confirmed his departure Tuesday. Housingwire first reported the news. His exit comes two weeks after general

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Rocket sues broker over repurchases in case involving UWM

Law and legal issues, Mortgage brokers, Originations, Rocket Mortgage /

Rocket Mortgage is suing a broker for originating loans for his customers with United Wholesale Mortgage days before the Detroit giant funded additional loans for those same borrowers. Processing Content The lender’s repurchase lawsuit, filed Tuesday in Michigan, does not accuse UWM of wrongdoing, nor does it name the company as a defendant.  The complaint

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Sogorka leaving Rocket Pro, Niemiec returns as role shifts

Sogorka leaving Rocket Pro, Niemiec returns as role shifts

CAREER & COMPENSATION, Career moves, Mortgage brokers, Rocket Mortgage /

Daniel Sogorka, the general manager of Rocket Pro since September 2024, is leaving the post, the parent company confirmed. Processing Content News about Sogorka’s departure was first announced internally on Friday and was first reported in several mortgage industry publications. Dan Sogorka, general manager at Rocket Pro TPO.Courtesy of Rocket Cos. He said his time

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Nexa ordered to pay Platinum One $280,000 in damages

Industry News, Law and legal issues, Mortgage brokers /

The latest chapter in the legal battles between Nexa Mortgage cofounders favored Mat Grella and his company, Platinum One Lending, as a Michigan judge dismissed Nexa CEO Mike Kortas’ claims. Processing Content Judge Michael Warren ruled that $350,000 transferred to Platinum One was an equity investment from Nexa, not a loan, like Kortas claimed. He

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Nominations open for 2026 Top Producers

Mortgage brokers, Originations, Purchase, Refinance, Top Producers /

National Mortgage News is pleased to announce the launch of the 2025 Top Producers Survey. Processing Content IMPORTANT: All entries MUST be completed by the individual loan officer or company representative. Unless noted, a response is required for all questions. Click here to access the online survey. The deadline for all submissions is 6 p.m.

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