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Incenter acquires due diligence firm Edgemac

Housing Wire

Incenter is adding a third-party due diligence review firm to its umbrella of companies. Edgemac , which Incenter acquired at the end of last year, does due diligencing for mostly non-QM and jumbo loans, as well as private label reverse mortgages that could eventually be securitized.

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NYCB to sell $5B in mortgage warehouse loans to JPMorgan

Housing Wire

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The sale is expected to close in the third quarter of 2024. billion; 5.7%).

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Meet the likely buyers of independent mortgage banks in 2023

Housing Wire

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 435
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Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

The report defines a critical defect as one that “would result in the loan being uninsurable or ineligible for sale.” We buy loans from over 100 different mortgage banks in a given month,” Smith said, “… and we’ve been working with and training a [generative AI] system on our [non-QM] guidelines.”

Loans 448
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North Carolina’s low home prices luring buyers

Housing Wire

” Redfin pegs the average list price for a home at $325,000 in Raleigh, with sales prices averaging $333,000 — up 10.7% “Plus, we’re a due diligence state, so right now if you don’t go way over listing price and offer a substantial due diligence price, there’s no point in even submitting an offer.”

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From consultation to closing: The definitive homebuying checklist

Housing Wire

This typically includes: Recent pay stubs Last two years tax returns Recent bank statements Proof of any additional income or assets Discuss the budget Once you have the mortgage pre-approval, have an open conversation about your client’s financial situation. Negotiations: Prepare your clients for the possibility of counteroffers.

Closing 248
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How one mortgage fulfillment service increases efficiencies while minimizing risks

Housing Wire

HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: How do Trelix services help users minimize risks and perform loan due diligence?