Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

Mortgages 475

Mortgages Loan Officer Loans Equity 475

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. There’s still demand for homes, loan officers told HousingWire. “I

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

AUGUST 26, 2024

Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets. trillion unpaid principal balance (UPB).

Mortgages 387

Mortgages Banks Debt-to-income ratio Loans 387

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% Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment.

Mortgages 441

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 441

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Half the clients go to the traditional banks where we can show tax returns.

Mortgages 341

Mortgages Marketing Loans Banks 341

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Two of the nation’s largest banks, JPMorgan Chase and Wells Fargo & Co.

Principal 378

Principal Banks Loans Lending 378

Housing Wire

MARCH 20, 2024

“I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space.

Development 434

Development Industrial Mortgages Loans 434

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. This is because surging mortgage rates , upcoming regulatory changes and regional bank collapses have forced large depositories to pull back. We also sought input from industry experts, lenders and loan officers. billion), Bank of America ($20.4

Banks 320

Banks Marketing Loans Mortgages 320

Housing Wire

JANUARY 26, 2022

Lenders across the board felt that they got truly high ROI from these solutions,” said Sam Ryder, principal at LLR Partners. Sales Boomerang provides automated borrower intelligence, delivering real-time customer insights to lenders, who can then offer “the right loan to borrowers at the right time,” according to CEO Alex Kutsishin.

Investor 300

Investor Sales Mortgages Loan Officer 300

Housing Wire

MARCH 1, 2021

With low interest rates and a booming refinance market, it is natural that loan officers and brokers are focused on agency loans and also a thriving purchase market. There is also an increasing number of self-employed borrowers, who can qualify with a bank statement loan product.

Lending 352

Lending Banks Loans Investor 352

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. Loan officer headcount in the industry could decline by 45% from last year’s estimated 353,120 LOs nationwide, which expanded by 34% from 2019, according to projections from Stratmor Group. “We over asking price. High octane stuff.

Marketing 508

Marketing Equity Loans Bankruptcy 508

Calculated Risk Real Estate

SEPTEMBER 8, 2023

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 128

Closing Equity Short sale Principal 128

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. I think it’s already priced in the market.”.

Marketing 321

Marketing Loan Officer Lending Mortgages 321

Calculated Risk Real Estate

MARCH 7, 2024

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 72

Closing Equity Short sale Principal 72

Calculated Risk Real Estate

SEPTEMBER 12, 2024

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 65

Closing Equity Short sale Banks 65

Calculated Risk Real Estate

DECEMBER 7, 2023

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 74

Closing Equity Short sale Principal 74

Calculated Risk Real Estate

JUNE 8, 2023

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 95

Closing Equity Short sale Principal 95

Housing Wire

JUNE 1, 2023

Hunsaker said the interest rate that IMBs need to charge the borrowers “in order for them to securitize [loans through the agencies] and make a profit has to be pretty darn high, to the point where it’s going to drive down volume.” “So, because their cost structure has to shrink,” Hunsaker said. “So,

Mortgages 360

Mortgages Loans Loan Officer Investor 360

Calculated Risk Real Estate

JUNE 7, 2024

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 61

Closing Equity Short sale Banks 61

Realtor.com

APRIL 5, 2021

It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. 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.

Loans 122

Loans Mortgages Principal Equity 122

Housing Wire

JUNE 15, 2022

Lenders, loan officers and economists who spoke to HousingWire this week said that the current volatility in the markets will reduce originations even further in 2022, bringing additional rounds of layoffs. “I have a lot of high-end clients who have money in the bank. More layoffs to come.

Mortgages 395

Mortgages Loans Investor Equity 395

HomeLight

AUGUST 31, 2021

“The down payment is showing the bank that you’re putting some skin in the game,” says Helali. Every time a bank provides somebody with a loan, the bank’s essentially investing in that person.”. Basically, you’re showing the bank that their investment is safe and you’re unlikely to stop making payments.

FHA loan 105

FHA loan VA loan Loans Loan Officer 105

HomeLight

AUGUST 31, 2021

It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank. Since brokers work with multiple lenders, they can bring forth numerous quotes so buyers can easily choose between loans with different rates. Decisions, decisions. What are you, a prospective homebuyer, to do?

Mortgages 97

Mortgages Closing costs Loans Banks 97

HomeLight

JUNE 30, 2021

Ah, if only it were as simple as dividing the purchase price by the length of your loan term and calling it a day… Here’s what you need to be aware of when calculating a mortgage payment. Principal and interest. The majority of your mortgage payment will go toward principal and interest. Taxes and insurance.

Mortgages 80

Mortgages Principal Loans Homeowner’s association 80

RIS Media

SEPTEMBER 21, 2021

She brings a mix of investment banking and a legal background into her work in real estate. After moving to San Antonio in 2003, Jackson went on to train Air Force officers in logistics readiness and attained his Master Instructor certification the following year with over 3000 hours on the podium. Wendy Holcomb. Julian Jackson lt.

Loan Officer 97

Loan Officer New Construction Brokerage Residential 97

Marco Santarelli

MARCH 20, 2024

Although homeowners' insurance costs are on the rise, they pale in comparison to the substantial financial commitments associated with mortgage principal and interest payments. However, the persisting issue of limited inventory, compounded by the phenomenon known as the rate lock effect, has hindered the volume of home sales.

Mortgages 52

Mortgages Marketing Lending Loan Officer 52

HomeLight

OCTOBER 15, 2020

If you’re a would-be homebuyer searching for a home in a rural or even suburban area, you could potentially qualify for a United States Department of Agriculture (USDA) loan. These loans — like FHA and VA loans — are backed by the government. You can get a USDA loan with no money down on the house.

Loans 85

Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 85

HomeLight

AUGUST 31, 2022

If you meet eligibility requirements, many banks, credit unions, and other financial institutions have loans that allow homeowners to convert part of their equity to cash. Banks, credit unions, and other lenders each have their own criteria. They do not repay principal and interest immediately.

Equity 105

Equity Finance Loans Closing costs 105

HomeLight

SEPTEMBER 30, 2020

Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. I have done many refinances over my career that have saved homeowners hundreds of dollars per month and tens of thousands over the life of the loan.”. Have the loan underwritten and go through closing again. Get the home appraised.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

HomeLight

JANUARY 18, 2023

So if your home is worth $400,000, and you have $320,000 left in unpaid principal on your mortgage loan, that means you hold $80,000 equity in your home or 20%. The principal balance you still owe on your mortgage. Additional liens or property loans you still need to pay. According to Federal Reserve Bank of St.

Equity 105

Equity Marketing Loans Mortgages 105

HomeLight

AUGUST 16, 2021

Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage. Bank of America has two national DPA programs. These classes may be available online or in-person, and you will need to supply a certificate of completion to your loan officer.

Loans 105

Loans VA loan FHA loan Purchase and sale agreement 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). Paying off the same $100,000 loan over 15 years would mean a $555.56

Loans 98

Loans Mortgages FHA loan Principal 98

HomeLight

JUNE 30, 2022

You also want to check your FICO score, as this is what the majority of lenders use ; you can often get your FICO score for free if your banking institution provides it, but otherwise you might have to pay for this service. Bank statements. Additionally, you may qualify for a conventional loan with as little as 3% down.

Purchase and sale agreement 96

Purchase and sale agreement Inspection Earnest money deposit Closing costs 96

Redfin

FEBRUARY 10, 2021

Well, it’s not only the difference between getting a low-interest rate on a home loan versus a high one, but it will also directly impact how much a bank or lender will loan you. PMI is an added insurance charged by mortgage lenders to protect themselves in case you default on your loan payments. Build Up Your Savings.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

Housing Wire

MARCH 29, 2022

What is not widely known is the role federal banking regulators play in letting this practice continue. These bank regulators only enforce the CRA when banks seek a merger or acquisition. Banks then quietly withdraw their application, rather than face a public denial. Photo provided by Calvin Bradford.

Lending 358

Lending Banks Mortgages Loans 358

HomeLight

APRIL 19, 2021

Jean Chou , the principal attorney at JLC & Associates , advises her clients who buy in smaller buildings to schedule their own inspections as part of the homebuying process. Another step that can give you an edge is to write a personalized letter to the seller describing your dreams for your life in your new home.

Earnest money deposit 89

Earnest money deposit Inspection Due diligence Agents 89