Housing Wire

OCTOBER 22, 2024

Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers automatically generate refinance options for their clients. This includes property ownership checks, automated valuation models ( AVMs ), loan amount amortization and financial benefit calculations.

Loan Officer 435

Loan Officer Loans Technology Closing costs 435

Housing Wire

FEBRUARY 3, 2023

The Lock ‘n’ Roll program is eligible for conventional and government fixed-rate loans, with the lock period being a minimum of 60 days, according to its website. With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex.

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Loans Loan Officer Closing costs Mortgages 370

Housing Wire

OCTOBER 4, 2022

Users can also streamline cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE). This integration makes accurate fees available instantly from a sizable population of the title agent community,” Jim Paolino, the CEO of LodeStar, said in a statement. “As

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Title Loan Officer Closing costs Closing 448

Housing Wire

FEBRUARY 5, 2021

According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. Last year, the mortgage firm also had two loan originators produce over $1 billion in mortgages: Ben Cohen and Shant Banosian. According to the NMLS, Owning has 62 loan officers and was formed in 2018.

Loan Officer 448

Loan Officer Loans Closing costs Title 448

Housing Wire

FEBRUARY 28, 2024

They will also be offered closing cost credits of up to 0.5% The program is only eligible for loans that close through Newrez. The Newrez Home Rewards program is currently available in 40 states for buy-side credits that allow consumer rebates on the closing disclosure, Newrez said in an emailed response to HousingWire.

Closing costs 448

Closing costs Loan Officer Closing Loans 448

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

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VA loan Agents Seller concession FHA loan 482

Housing Wire

NOVEMBER 20, 2024

Mortgage , which has 330 sponsored loan officers across 39 active branches, expects that most credit bureaus will raise their prices as well. “By royalty per score accounts for a small portion—approximately 15%—of the cost of a tri-merge credit report and score bundle. per score—equating to $4.35 per borrower and $8.70

Mortgages 435

Mortgages Loan Officer Loans Closing costs 435

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown?

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Seller concession Loan Officer Closing costs Mortgages 468

Housing Wire

FEBRUARY 19, 2021

Your lender is going to require an adequate home insurance policy before they’ll close on your loan. If you forget to secure one or your policy start date doesn’t align with your closing, it could throw things off schedule. Many lenders will re-check your credit just before closing on your loan. Credit problems.

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Loans Loan Officer Closing Closing costs 535

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.

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Finance Seller concession Loan Officer Loans 482

Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. Every call I get, if they are first-time homebuyers, they ask, ‘Where can I get money for a down payment or closing costs?’”

FHA loan 476

FHA loan Loans Closing costs Loan Officer 476

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

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Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. In fact, they could actually cost you more (often significantly more) if used incorrectly. USDA loans. If you can find a home in a USDA-eligible area, you’ll definitely want to give these loans a look.

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business. million, of those homes.

Loan Officer 418

Loan Officer Equity Finance Loans 418

Housing Wire

FEBRUARY 14, 2024

BBYS products enable homeowners to tap their current home equity to purchase the new home, meaning they can make larger down payments and reduce the cost of their loans. This model is still expensive for homeowners because they are paying duplicate closing costs and leaseback fees.

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Backup offer Loan Officer Home sale contingency Branding 448

Housing Wire

SEPTEMBER 7, 2023

The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

Agents 418

Agents Loan Officer Lending Loans 418

Housing Wire

SEPTEMBER 21, 2022

The following five accounts showcase how lenders and loan officers can use TikTok to brand themselves as well as entertain and educate home buyers. . Scott Betley is a loan officer for NFM Lending with more than 10 years of experience helping first-time home buyers and move-up buyers. Scott Betley ( @thatmortgageguy ).

Loan Officer 370

Loan Officer Loans Branding Mortgages 370

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. a loan officer in Washington noted.

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Mortgages Loan Officer Marketing Seller concession 417

Housing Wire

APRIL 8, 2024

The comments follow a Hunterbrook Media report from last week stating that UWM pressures brokers to send loans its way, resulting in higher costs to customers. “We think the premise of the thesis is misplaced,” Eric Hagen and Jake Katsikas wrote in the company’s weekly mortgage finance roundup.

Loans 440

Loans Loan Officer Mortgages Closing costs 440

Housing Wire

DECEMBER 22, 2020

Fixed-rate mortgages have a set interest rate for the entirety of the loan. Adjustable-rate loans have interest rates that fluctuate after a certain amount of time. As long as you go through with the deal, the deposit will go toward your closing costs and down payment. Fixed-rate mortgage. You’re not alone.

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Fixed-rate mortgage Pre-approval Mortgages Loan Officer 448

Housing Wire

FEBRUARY 10, 2022

The government-sponsored enterprise saw a 20% growth in its single-family mortgage portfolio from 2020 to 2021, driven by soaring home prices and an increase in the average size of loans it acquired. trillion in single-family loans in 2021, about two-thirds of which were refinances. It reported $2.7 Overall, Freddie Mac purchased $1.22

Loan Officer 418

Loan Officer Finance Loans Banks 418

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. 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

SEPTEMBER 30, 2021

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Buyers “are waiving inspections, an appraisal contingency, and the latest trend is to pay closing costs usually done by the seller.” Kansas City, Missouri. One kid will give their parent’s car.”

Marketing 370

Marketing Loan Officer Closing costs Inspection 370

Housing Wire

APRIL 25, 2023

The goal of Asset Analysis is to automate the labor-intensive process of reviewing assets and multiple bank statements during underwriting to determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction.

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Lending Banks Loan Officer Loans 396

Housing Wire

SEPTEMBER 22, 2022

Chicago-based Guaranteed Rate this week rolled out an expanded Language Access Program, which has applications and loan servicing in Spanish for consumers in all 50 states. Let’s take loan disclosures as a prime example. In 2021, Guaranteed Rate originated more than $116 billion in purchase loans and refinances.

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Marketing Loan Officer Loans Finance 370

Housing Wire

JULY 2, 2024

to its endorsement tally to finish at 534 loans, after lagging behind Mutual of Omaha Mortgage in recent months. to 56 loans, while South River Mortgage and HighTechLending also managed positive growth in June. Equity takeout” loans — reverse mortgages that are neither purchases nor refinances — dropped by 4.8%

Mortgages 434

Mortgages Equity Loans Loan Officer 434

Housing Wire

JULY 4, 2024

It may mean drilling down and familiarizing yourself, and your potential clients, with the ins and outs of credit repair, loan pre-qualification and pre-approval, and even basic personal finance and budgeting. This is not about selling a fantasy but about highlighting realistic paths to achieving this goal, even if the process has changed.

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Pre-qualification Pre-approval Seller concession Finance 476

Housing Wire

SEPTEMBER 16, 2020

Let’s start with the recent 30-year fixed rate cash-out refinance, which was introduced last week on conventional loans, with rates between 2.5% So that means that if they’re doing a cash-out and they have a 70 loan-to-value, Fannie Mae will charge them three quarters of a point. Okay, so that was from 2.5 only pays 1.5

Mortgages 488

Mortgages Marketing Title Loans 488

Housing Wire

MAY 12, 2022

Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. But it’s also possible for a homebuyer to apply and receive approval on a mortgage loan without them ever actually speaking with another human. Customer acquisition costs go up.

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Lending Marketing Pre-qualification Pre-approval 370

HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. What are closing costs ?

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Closing costs Closing Mortgages Title 105

HomeLight

JUNE 15, 2023

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

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Closing costs Closing Title Inspection 98

Realtor.com

MARCH 8, 2021

Instead, you might need a construction loan. In this installment from our Guide to Building Your Own Home , we’ll cover everything you need to know about construction loans. What is a construction loan? Interest rates are also typically higher for a construction loan, usually by around 1%.

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Loans Construction Land Finance 120

HomeLight

SEPTEMBER 16, 2024

If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?” Check now What is a home equity loan? A home equity loan allows you to borrow against the value of your home minus what you still owe on your mortgage. How do I get a home equity loan?

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Equity Loans Loan Officer Lending 111

Housing Wire

OCTOBER 20, 2023

This could include posting information regarding down payments, typical closing costs to expect, first-time homebuyer programs available, and tips on navigating lending. Other ideas such as mistakes you see first-time homebuyers make, or busting myths about buying a home in general may also be helpful content for first-time homebuyers.

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Agents Lending Renovation Staging 435

Realtor.com

NOVEMBER 11, 2022

Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more. Unless you have enough cash lying around to buy some real estate outright—and let’s face it, few do—first-time home buyers will need a loan first, not a real estate agent.

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Pre-approval Pre-qualification Debt-to-income ratio Loan Officer 131

Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. The aim of the micromortgage program is to make homeownership more attainable and to begin to close the racial gap in homeownership.

Loans 111

Loans FHA loan Finance Loan Officer 111

HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. But maybe you’re a little unclear on what the different loan guidelines mean.

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FHA loan Loans Debt-to-income ratio Closing costs 104