Housing Wire

DECEMBER 22, 2020

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. Are you planning to buy a home in 2021?

Fixed-rate mortgage 448

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 448

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4%

Mortgages 414

Mortgages Loan Officer Marketing Seller concession 414

Housing Wire

FEBRUARY 28, 2024

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. They will also be offered closing cost credits of up to 0.5% billion in 2023, per data from Inside Mortgage Finance.

Closing costs 448

Closing costs Loan Officer Closing Loans 448

Housing Wire

JULY 2, 2024

After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments. Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% Guild Mortgage also posted a gain of 19.1% Each type of reverse mortgage use case also declined in June.

Mortgages 432

Mortgages Equity Loans Loan Officer 432

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?

Seller concession 468

Seller concession Loan Officer Closing costs Mortgages 468

Housing Wire

FEBRUARY 5, 2021

Fresh off its acquisition of Stearns , Guaranteed Rate has picked up Owning Corporation , a direct-to-consumer mortgage lender. According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. 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 14, 2024

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies.

Backup offer 448

Backup offer Loan Officer Home sale contingency Branding 448

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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 loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

SEPTEMBER 16, 2020

A well-qualified buyer these days can find a mortgage at historically low interest rates. But that’s not good enough for United Wholesale Mortgage CEO Mat Ishbia. So if the numbers work for them and they want the lowest rate , they can do that and the mortgage brokers can figure out what works for them and get that deal for them.

Mortgages 488

Mortgages Marketing Title Loans 488

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said. said Michael Ullmann, a producing branch leader at Movement Mortgage.

FHA loan 476

FHA loan Loans Closing costs Loan Officer 476

Housing Wire

APRIL 3, 2024

mortgage lender United Wholesale Mortgage (UWM) is the target of a class-action-seeking lawsuit alleging it orchestrated a scheme with mortgage brokers to apply excess fees and costs to borrowers. The lawsuit follows Monday’s report from Hunterbrook Media indicating that UWM pressures brokers to send loans its way.

Loans 482

Loans Loan Officer Mortgages Closing costs 482

Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. They own the home with their name on the title, as with any mortgage, traditional or reverse. Consumers who are introduced to the HECM for Purchase loan option are often skeptical at best, with many thinking it’s too good to be true.

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems. last year.

Loan Officer 418

Loan Officer Equity Finance Loans 418

Housing Wire

SEPTEMBER 21, 2022

As more of these younger borrowers begin to show interest in buying a home, it’s a great idea to use TikTok not only as a way to connect with prospective borrowers, but to educate them on mortgage as well. 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.

Loan Officer 370

Loan Officer Loans Branding Mortgages 370

Housing Wire

APRIL 8, 2024

United Wholesale Mortgage ’s (UWM) revenue margins “don’t stand out like” one would expect if the company was overcharging borrowers, analysts at BTIG said on Monday. Hunterbrook 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.

Loans 420

Loans Loan Officer Mortgages Closing costs 420

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. He worked for an independent mortgage broker that actually shopped between options.

Fixed-rate mortgage 467

Fixed-rate mortgage Loans Mortgages Loan Officer 467

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

Construction 418

Construction Loans Loan Officer New Construction 418

Housing Wire

SEPTEMBER 7, 2023

But if you’re an originator, that simply means that your target group is now smaller,” said Brian Hale, CEO of Mortgage Advisory Partners. “If Loan officers may increasingly place more importance on reaching consumers directly especially when a buyer takes initiative in the homebuying process rather than relying on agents. “If

Agents 418

Agents Loan Officer Lending Loans 418

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. He was most recently CEO of Hayden Consulting , which advises mortgage banks, commercial banks, thrifts, REITs, and private equity firms.

Loan Officer 418

Loan Officer Finance Loans Banks 418

Housing Wire

FEBRUARY 3, 2023

Mortgage lender and digital financial services company Guaranteed Rate hopes to court builders and borrowers with its newly launched programs — Lock ‘N’ Sell rate lock program and forward commitments – by helping the borrowers secure lower mortgage rates. Guaranteed Rate originated $34.38 About 71.2%

Loans 370

Loans Loan Officer Closing costs Mortgages 370

Housing Wire

SEPTEMBER 22, 2022

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. 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.

Marketing 370

Marketing Loan Officer Loans Finance 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.

Lending 393

Lending Banks Loan Officer Loans 393

Housing Wire

JULY 4, 2024

This article explores these issues and underscores the role of real estate and mortgage professionals in guiding clients through these turbulent times. The role of real estate and mortgage professionals In times like these, the role of real estate agents , brokerage owners and lenders becomes even more critical.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

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 ?

Closing costs 105

Closing costs Closing Mortgages Title 105

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack.

Lending 369

Lending Marketing Pre-qualification Pre-approval 369

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?

Closing costs 98

Closing costs Closing Title Inspection 98

Housing Wire

MARCH 1, 2021

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing. Let’s admit it. More emotion.

Closing 318

Closing Title Marketing Title search 318

Realtor.com

NOVEMBER 11, 2022

Real estate agents agree that long before you peruse listings or check out open houses, you should talk to a lender about your credit score, so that you can secure a mortgage. Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more.

Pre-approval 131

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

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.

Agents 434

Agents Lending Staging Renovation 434

RIS Media

JUNE 14, 2024

This week we reported on the Consumer Financial Protection Bureau’s (CFPB) inquiry into mortgage “junk fees” that are typically added onto closing costs. According to the report, from 2021 to 2023, median… The post Mortgage Mix: Bureau Takes Aim at ‘Junk Fees,’ Rates Dip Down Further appeared first on RISMedia.

Mortgages 104

Mortgages Closing costs Closing Loan Officer 104

Realtor.com

NOVEMBER 27, 2022

Why refinance a mortgage? Although it will be a little faster than getting your initial mortgage, it still has many of the same time-consuming steps. Lenders are required to provide your loan estimate and disclosures within three days of your application. Step 4: Loan processing. Step 1: Research your options.

Mortgages 111

Mortgages Closing costs Loans Loan Officer 111

Realtor.com

MARCH 12, 2021

Getty Images Mortgage rates are on the rise after nearly a year of record lows, providing a nudge to homeowners who want to refinance but didn’t get around to it yet. First find the difference between your current mortgage rate and the potential savings of a refinance offer. What if closing costs are too high?

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Realtor.com

DECEMBER 20, 2021

This money is crucial to snagging a mortgage and getting that much closer to homeownership. “The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , to 1% of your loan amount each year. Loans with no money down.

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

HomeLight

SEPTEMBER 30, 2020

Mortgage payments can take up a good chunk of your income, especially with a new home. And the interest you pay on that mortgage loan is nothing to sneeze at. In 1982, mortgage rates hit an annual average of 16.03%. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Real Trends

NOVEMBER 2, 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?

Seller concession 109

Seller concession Loan Officer Closing costs Mortgages 109

HomeLight

AUGUST 31, 2021

He swears it’s all thanks to the hard work of his mortgage broker. It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank. What is a mortgage broker? A mortgage broker is a liaison that helps coordinate a loan between a lending institution and a prospective borrower.

Mortgages 97

Mortgages Closing costs Loans Banks 97

HomeLight

JUNE 22, 2023

Why, maybe it’s even dealing with the anxiety that comes while you’re waiting for closing day to finally come. All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. Without further ado, let’s get started.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98