Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. A year ago at this time, rates averaged 3.14%. Searching for new options.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Seller concession 397

Housing Wire

OCTOBER 22, 2021

Karen Mayfield: Loan officers. I’ve heard peers at other mortgage lenders say “ I have a digital customer experience and educational content on-line. So why do I need an expensive loan officer? Having an online portal or sharing the advantages of a fixed rate mortgage on your site is helpful to customers.

Loan Officer 397

Loan Officer Fixed-rate mortgage Loans Industrial 397

Housing Wire

MAY 3, 2023

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. For months, the central bank said it needed to make additional changes before it took its foot off the gas. It represents a shift or sorts.

Banks 397

Banks Fixed-rate mortgage Loan Officer Mortgages 397

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates have nearly doubled to around 6.5% 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% Before the Federal Reserve raised the federal funds rate by 0.75 According to the NAR, there were 1.28

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. In many cases, that product may still be a fixed-rate mortgage. But for some borrowers, a less traditional loan type could make the most financial sense.

Loans 435

Loans Fixed-rate mortgage Lending Loan Officer 435

Housing Wire

APRIL 9, 2024

The wholesale lender said it’s offering legal support to partners in case they are sued and once again accused Rocket Mortgage of being behind the report, which the rival denies. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

Fixed-rate mortgage 468

Fixed-rate mortgage Loans Mortgages Loan Officer 468

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. A massive job cut.

Mortgages 370

Mortgages Loan Officer Banks Lending 370

Housing Wire

APRIL 14, 2022

Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

SEPTEMBER 12, 2023

After two of the most challenging years in recent history, economists and analysts project a shift in the mortgage market toward the end of 2023, Hoff said. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. When will the market turn? Let’s start with the good news.

Loan Officer 418

Loan Officer Loans Investor Mortgages 418

Housing Wire

DECEMBER 7, 2022

But even with the drop in rates to the mid-6s, the market is still nowhere near ‘normal,’ and consequently, industry experts predict a long, cold winter for loan officers. non-bank financial institutions at the credit risk agency Fitch , said during a webinar last week on the outlook for publicly traded originators.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Loan Officer 370

Housing Wire

DECEMBER 29, 2023

“It finally seems like we are turning a corner and that’s good news after two years of the Fed’s negative perspective that we’ve heard,” Max Slyusarchuk, CEO of A&D Mortgage , said in an interview. A successful loan officer in this market needs a very capable qualified assistant.

Mortgages 476

Mortgages Loan Officer Loans Equity 476

Housing Wire

APRIL 13, 2023

Mortgage rates have declined over the last several weeks, and it’s helping to lure buyers back into what started out as a slow spring home buying season, Melissa Cohn, regional vice president of William Raveis Mortgage , said. And, the recent rate declines are sparking optimism among economists and loan officers. “On

Mortgages 370

Mortgages Fixed-rate mortgage Loan Officer Loans 370

Housing Wire

NOVEMBER 10, 2023

“It will not surprise me at all if there’s some intervening speeches that push rates back up on the 10-year Treasury yield,” Duncan said. 9 – a little more than a week after the Fed held benchmark rates steady – Powell said that the central bank is not confident it has done enough to bring inflation down. “My

Mortgages 459

Mortgages Fixed-rate mortgage Loans Banks 459

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Just a little less vanilla. .”

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

DECEMBER 30, 2022

Demand for non-qualified mortgages (non-QMs) — loans for borrowers who fall outside the traditional conforming loan credit box, such as self-employed borrowers, gig workers and real estate investors, is not going away any time soon, LOs said. “In The 30-year fixed rate mortgages are expected to average 6.3%

Loans 435

Loans Renovation Construction Mortgages 435

Realtor.com

MARCH 12, 2021

I have an adjustable-rate mortgage. Is this the time to switch to a fixed rate? Those with adjustable-rate mortgages might be looking to refinance to a fixed-rate mortgage so they can lock in these ultralow rates. I have a 30-year fixed-rate mortgage.

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Realtor.com

APRIL 5, 2021

Most interest-only home loans are adjustable-rate mortgages, or ARMs , says Scott Sheldon , a senior loan officer and consumer advocate in Sonoma County, CA. However, the rate adjusts after a specified initial period—usually three, five, seven, or 10 years—based on market indexes.

Loans 122

Loans Mortgages Principal Equity 122

Realtor.com

APRIL 29, 2021

On the other hand, a pre-approval entails your providing a loan officer with all necessary documentation—your tax returns, bank statements, pay stubs, and more—to obtain a mortgage. The officer then packages the loan and submits the file to an underwriter for review. It means nothing.”.

Pre-qualification 122

Pre-qualification Pre-approval Mortgages Fixed-rate mortgage 122

HomeLight

OCTOBER 15, 2020

Government-backed loans, while fantastic for some buyers, can take longer and cause a bit more frustration, but working with a licensed loan officer that specializes in these types of loans can be a huge help. The most common interest options for conventional loans. Fixed-rate mortgage.

Loans 98

Loans Debt-to-income ratio FHA loan VA loan 98

HomeLight

SEPTEMBER 30, 2020

Or what if you’ve paid off a good chunk of your mortgage and you want to take some money out? Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. When rates drop, it’s always a good idea to look into refinancing. Have the loan underwritten and go through closing again.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

HomeLight

JANUARY 18, 2023

It’s important to note that banks use additional calculations for the purposes of home equity loans, refinances, and lines of credit. According to Federal Reserve Bank of St. Here are a few factors that are weakening demand, and causing home equity values to slip: Rising interest rates.

Equity 105

Equity Marketing Loans Mortgages 105

HomeLight

JUNE 22, 2023

She advises that the sooner you contact an agent, the sooner they can recommend a qualified loan officer that can advise you on your financial situations and steps you might take to save a downpayment or fix issues with your credit which could take up to a year and a half to repair. Let’s take a look at your options.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

JANUARY 31, 2022

Mortgage insurance protects lenders in the event that you stop making payments on your loan, so expect your lender to require it if your down payment is less than 20% on a conventional loan, or if you’re taking out a FHA loan (regardless of down payment amount). How can I reduce costs on my mortgage estimate?

Loans 98

Loans Mortgages FHA loan Principal 98

HomeLight

JANUARY 27, 2021

A lender with a local presence will likely know the ins and outs of your market better than a big bank, and they’ll have local relationships that will make closing your deal easier. Sure, you might have to pay a slightly higher rate to go with a local mortgage company, but you’ll also typically get more personalized service.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

Housing Wire

OCTOBER 9, 2024

“All mortgage companies, banks and federal credit unions, we all need to be thinking about what our backup plan is, instead of only relying on the historical structures that we’ve always used,” Stork said. Mortgage companies have always taken it for granted that there was going to be insurance.

Mortgages 459

Mortgages Fixed-rate mortgage Industrial Construction 459

The Close

DECEMBER 29, 2022

It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months. Loan officer.

Purchase and sale agreement 98

Purchase and sale agreement Title Pre-approval Proof of funds 98

Marco Santarelli

FEBRUARY 22, 2025

Its a bit of a mixed bag, and that's why digging into the details and talking to a loan officer is crucial. If you locked in a mortgage when rates were higher, say even just a few months ago, refinancing at these lower rates could potentially save you a chunk of money over the long haul. I cant stress this enough.

Mortgages 85

Mortgages Pre-approval Loans Debt-to-income ratio 85