Mortgage brokers

Bob Marseilles joined Evergreen Moneysource to get the wholesale unit going following starting the TPO unit for First Tech Federal Credit Union.

eXp World Holdings, the parent company of eXp Realty, and Kind Lending ended their mortgage joint venture, Success Lending, it was reported Wednesday.

The company will begin direct-lending operations in its home state of California, before expanding across the U.S. over coming quarters, its executives said.

Rocket has seen more brokers move from United Wholesale Mortgage to its wholesale channel in the last 90 days than the previous 12 months combined, Chief Revenue Officer Austin Niemiec said.

The ex-worker who was terminated for unprofessional conduct has allegedly disparaged the brokerage and is refusing to return loan files and leads.

The brokerage boss settled litigation with ex-business partner Mat Grella which involved private aviation, luxury cars and a separate six-figure judgment.

A credit union service organization is buying the division, which includes mortgage services provider QRL, while the seller repositions its home loan business.

While not looking to take on UWM and Rocket, GO Mortgage CEO Jay Promisco said mortgage brokers want and need more options for their production.

More than three-quarters of brokers are using popular AI platforms, but application of lender-specific software lags considerably, according to AD Mortgage.

One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.

The RIA technology platform builds on its acquisition of AI-powered liability-optimization fintech Sora Finance last year.

Company veteran Austin Niemiec is running the wholesale arm after the departures of Fawaz, a prominent broker advocate, and general manager Dan Sogorka.

The lender isn't accusing United Wholesale Mortgage of wrongdoing, but says a broker secured loans for the same customers from both companies weeks apart.

Dan Sogorka is leaving Rocket to be with his family in San Diego, while Austin Niemiec's title is unchanged but he will no longer be responsible for retail.

The judge said Nexa CEO Mike Kortas' testimony lacked credibility, ruling that $350,000 transferred to Platinum One was an investment, not loan.

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The company was founded in 1986 by current CEO Mat Ishbia's father Jeff and became the No. 1 originator by dollar volume in the third quarter of 2022.

Regulators also accused Southern California-based E Mortgage of failing to properly supervise remote employees and cooperate with their examinations.

Connecticut banking officials cited a series of alleged violations, including false and misleading statements and failure to maintain complete loan files.

Ryan Alexander, a life-long government employee, received news that he didn't want to hear: the project he was overseeing at the GSA was cut by DOGE. So Alexander decided to pivot.