Housing Wire

JULY 16, 2021

To provide that competitive edge, Tomo claims to issue mortgage pre-approvals within hours – not days – and cut closing times to 21 days (the industry average is 47 days). Tomo would also have to overtake traditional banks and tech-focused firms like Better.com, which is also venture-capital-backed and says it will be worth $7.7

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Lending Pre-approval Mortgages Closing 476

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

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Housing Wire

MARCH 29, 2023

And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed. Arias said his pre-approval applications for March are in line with January’s numbers — but he hasn’t seen the busy spring buying season that everyone had hoped for. “It

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Mortgages Pre-approval Banks Loan Officer 435

Housing Wire

DECEMBER 13, 2024

While buyback volumes remain well below their 2022 peak, they are still elevated compared to pre- pandemic levels. The added cost pours salt in the wound for credit unions, banks, and independent mortgage bankers , who are already recording average pre-tax losses of $534 per loan origination.

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Housing Wire

JUNE 20, 2023

Originators will use Figure’s online pre-application process to pre-qualify their customers, which then feeds directly to a digital fulfillment system supported by Figure. Approval may be granted in five minutes but is ultimately subject to verification of income and employment.

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Lending Technology Pre-approval Equity 370

Housing Wire

FEBRUARY 1, 2023

Softer inflation recently is what led to a softer rate increase, Lawrence Yun, chief economist and senior vice president of research at National Association of Realtors said, noting that the central bank is showing its willingness to adjust policy based on data. We have a lot of clients reaching out for pre-approvals.

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Pre-approval Mortgages Banks Investor 418

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. neighborhood, housing market, Fall, homes, new house sales, forbearance.

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Housing Wire

FEBRUARY 9, 2022

and get a pre-approval for a mortgage from the comfort of your own laptop. Yet, there remains a dark cloud over the general perception of the part of the process that occurs somewhere between the signing of the sales agreement and the exchange of house keys — the mortgage approval and settlement/closing process.

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Housing Wire

JANUARY 18, 2023

Columbus, Ohio-headquartered lender Lower rolled out mortgage as a service platform that enables consumer finance, banking and real estate companies to offer its mortgage products. . iBuyer Opendoor is Lower’s first mortgage platform customer, which Snyder said will help the platform expand its reach. .

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Mortgages Pre-approval Lending Finance 397

Housing Wire

JUNE 24, 2021

” The process requires a pre-approval that once passed allow buyers to submit an all-cash offer with Accept.inc’s proof-of-funds. Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. If the all-cash offer wins, the home is purchased from the seller and reserved until the loan is ready to close.

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Housing Wire

JANUARY 18, 2022

” Per the company’s website , it takes five minutes to receive a pre-qualification for a mortgage, though final approval is conditional on finishing the application and providing supporting documents. Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets.

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Mortgages Pre-qualification Pre-approval Lending 501

Housing Wire

JANUARY 8, 2021

But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market. The face of mortgage lending has changed from the recognition of the big-name banks to the individual brand that we have all built for ourselves.

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Lending Mortgages Pre-approval Loans 476

HomeLight

OCTOBER 27, 2020

Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? Marcus Rittman, director of mortgage operations at HomeLight Home Loans, has seen that “the catalyst for most homeowners wanting to get approved for a mortgage is finding a home that they love.” Bank statements.

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Housing Wire

MAY 10, 2023

I sent pre-approvals two-to-three times a day, and then there are 30-plus offers on the homes and I virtually never get contracts,” one veteran loan officer told HW in late March. It shows about 50 people waiting in line at an open house in Mount Laurel, New Jersey. The house ended up having five offers and sold for $50,000 over ask.

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Loan Officer Pre-approval Marketing New Construction 397

Housing Wire

SEPTEMBER 29, 2022

Facilitating forward-trading agreements, which allow platform users to sell loan pools at a future date with pre-negotiated terms and pricing.’. These new programs will expand our reach with bank-statement and other alternative-documentation loans, interest-only, etc.,

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Housing Wire

SEPTEMBER 22, 2022

Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Mortgage rates have nearly doubled to around 6.5% Interest rates can move higher as the economy stays firm, Logan Mohtashami, Lead Analyst at HousingWire said.

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Housing Wire

JANUARY 26, 2022

The digital mortgage lender advertises that it creates pre-approvals for its customer within hours, not days, charges no lender fees, and ensures on-time closings 100% of the time. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Refinancing is also not an option.

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Housing Wire

FEBRUARY 28, 2023

Even though equity is a valuable asset, it is considered ineligible by most banks and financial institutions when calculating the necessary down payment on a home.” “At Better, our mission is to make homeownership cheaper, faster and easier for all Americans,” Better CEO and founder Vishal Garg said.

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Equity Pre-approval Loans Finance 397

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. The goal is to expand its overall market share to 1% this year from 0.6%.

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Housing Wire

DECEMBER 29, 2023

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Choosing one of the best online real estate schools in California is your first step to joining our vibrant industry, and it’ll set you up for success for the state’s real estate exam.

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Lighter Side of Real Estate

SEPTEMBER 12, 2023

If you’ve been searching for a house for any amount of time, you’re probably well aware of how important it is to get a mortgage pre-approval before you even start looking at houses, or at least as early on in the process as possible. When Should You Update Your Pre-approval? Pre-approvals aren’t good forever.

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Housing Wire

JANUARY 31, 2023

Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures. Miller, who ultimately decided to place his bet with Sun West Mortgage Company , was one of the thousands of loan officers who lost their jobs with a lender that failed to stay afloat.

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Loans Mortgages Loan Officer Pre-approval 418

Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week.

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Housing Wire

MARCH 6, 2023

“I’ve got several pre-approvals out there where people just can’t find what they want and the rates are throwing them off,” Monsoon said. I see a lot more low credit scores, funky income, foreign nationals or bank statement loans,” he said. It’s starting to even out. “It

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Loan Officer Loans Pre-approval Mortgages 397

Housing Wire

MAY 16, 2022

Do they need a pre-closing investor review? We know what they’re looking for when we issue a pre-qual, and we stand behind that. As well, we do not have to seek third party approval to do a loan – we are the end investor. In 2022’s changing market, non-QM has been a hot topic for many. Of that volume, $6.2 was in March.

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Housing Wire

NOVEMBER 17, 2023

To get your license, you’ll need to complete 168 hours of prelicensing coursework at an accredited and approved school. Exam Prep: Exam prep course for focused review of key material, practice question bank, customizable quizzes, performance tracker, mock exams, interactive online study group.

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Housing Wire

MARCH 4, 2021

” The traditional verification approval process can be lengthy: A mortgage pre-approval can take up to two weeks , and the entire mortgage process can take one to two months. .” Plaid’s technology enables apps to connect with users’ bank accounts. All information must be permission-granted by the customer.

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Finance Pre-approval Banks Investor 254

Housing Wire

FEBRUARY 21, 2023

How origination modernization benefits lenders The mortgage application and pre-approval processes have been digitized for some time, to the benefit of borrowers and lenders alike. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork. Today is a different day.

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Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. But the industry was on a roller coaster with rates climbing near 7% in February and hitting 8% in October as the central bank battled to bring down high inflation.

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Loans FHA loan Mortgages Loan Officer 459

Housing Wire

SEPTEMBER 14, 2020

We are living in fast-changing times, and lenders that don’t embrace those changes will not compete well for business in a post-COVID-19 world. In fact, the changes we’ve seen since the advent of the global pandemic are significant enough to serve as a catalyst that will drive all lending digital. Peering into the future of lending.

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Lending Mortgages Technology Loans 488

Windemere Selling

MARCH 3, 2025

Because, if the scores differ, the bank will typically use the lowest one. Pre-approval lets sellers know youre serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend. #3 Why all three? Now, divide the list into must-haves and nice-to-haves. #4

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Pre-approval Inspection Closing costs Agents 75

Realty Biz

FEBRUARY 22, 2024

Glossy online listings behind your computer screen might fuel your dream home fantasy, but the home-buying process truly begins in earnest when a lender is contacted to be pre-approved for a mortgage. Once this process is complete, the lender will provide you with a pre-approval letter. When Should You Get Pre-Approved?

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Pre-approval Debt-to-income ratio Loans Banks 80

Toronto Realty Blog

OCTOBER 19, 2022

Should Prospective Tenants Be “Approved” Before Viewing Properties? Here’s an example: I don’t know how any tenants can be “pre-approved” without it being discriminatory in some way. Should Tenants Be “Screened” To Determine Candidacy? Screening them. They are right.

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Housing Wire

APRIL 22, 2024

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Keeping Current Matters

DECEMBER 14, 2021

AJ Barkley, Head of Neighborhood and Community Lending for Bank of America , says : “Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations.”. The sense of pride you’ll feel when you purchase a home can’t be overstated.

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Housing Wire

JUNE 30, 2021

Our pre-approval option is a very important tool for our brokers in this current hot purchase market. As the fastest-growing lender in the wholesale channel, PennyMac is uniquely positioned to serve as a business partner across the mortgage banking professional continuum. Brokers really love that we don’t sell our servicing.

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AAOA

APRIL 3, 2025

From tracking rent payments and expenses to handling invoices and bank reconciliation, your accounting practices can make or break your efficiency. Lets dive into four essential practicesautomated payables, pre-set approval rules, batch management, and bank reconciliationto see if you are making your business easier or harder.

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