Real Estate Broker/Agency News

Thrive Mortgage to acquire American Mortgage Service Company

Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Financial terms of the deal were not disclosed. The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market

Read more

LOs, senior managers among the 300+ cut in latest Caliber layoff

Caliber Home Loans, owned by publicly-traded Rithm Capital, issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. The lender has made at least four rounds of layoffs this year, multiple sources told HousingWire.  An internal document viewed by HousingWire

Read more

Opinion: CRA doesn’t work for banks or IMBs

Last year, in a Housing Wire op-ed, Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs).  The National Community Reinvestment Coalition (NCRC) then returned the volley in an op-ed by Jesse Van Tol advocating for

Read more

Opinion: SFR companies not to blame for lack of inventory

A recent article, “Stop subsidizing Wall Street buying up homes,” perpetuates an uninformed stereotype of single-family rental home companies while revealing a serious neglect for the important contributions industry firms bring to today’s housing market. Contrary to their portrayal as indiscriminate buyers of properties far and wide, providers of single-family

Read more