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 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

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.

Loans 535

Loans Loan Officer Closing Closing costs 535

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

With the acquisitions of Stearns and Owning, Guaranteed Rate now has a stable of profitable joint-ventures , some of the nation’s top-producing retail loan officers , access to the wholesale channel and a stronger direct-to-consumer platform to grow its refi business. The company appears to be only licensed in California.

Loan Officer 448

Loan Officer Loans Closing costs Title 448

Housing Wire

NOVEMBER 7, 2023

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

VA loan 482

VA loan Agents Seller concession FHA loan 482

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. Assisting homebuyers and their agents adds more to an LO’s plate.

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. The third iteration was pioneered by Calque and is the most cost-effective model of the three.

Backup offer 448

Backup offer Loan Officer Home sale contingency Branding 448

Housing Wire

MAY 25, 2023

Few loan officers make the purchase product a main part of their business. Real estate agents, loan officers and builders can attract customers they have never captured before. Many of these loan officers have existing relationships with real estate agents and builders,” Cooper said. “If

Loan Officer 418

Loan Officer Equity Finance Loans 418

Housing Wire

JANUARY 17, 2024

With this latest enhancement, homebuyers aged 62+ can participate in seller concessions for up to 6% of the sales price toward borrower origination fees, other closing costs, prepaid items, and discount points. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

Finance 482

Finance Seller concession Loan Officer Loans 482

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. “The

Construction 418

Construction Loans Loan Officer New Construction 418

Housing Wire

MARCH 1, 2021

You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks. . They usually come with lower closing costs, too, making them a great way to save both time and money. It doesn’t stop there.

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

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 12, 2023

None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. It is essentially free money that would be credited back to the borrower should they pay the loan off within the buy down structure (1/0, 2/1, or 3/2/1).”

Mortgages 413

Mortgages Loan Officer Marketing Seller concession 413

Housing Wire

FEBRUARY 15, 2024

And that’s how Saller’s clients — siblings in their early 20s — can close on a $335,000, three-bedroom condominium in Jackson, New Jersey, early in March. 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.

FHA loan 476

FHA loan Loans Closing costs Loan Officer 476

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

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

APRIL 8, 2024

According to the analysts, the short thesis alleges some borrowers overpay for loans due to brokers’ incentive to steer business to UWM, but this is not reflected in the wholesale lender’s earnings. Margins were close to the 99 bps level before the Game On pricing initiative. million in 2023, compared to a profit of $719.4

Loans 418

Loans Loan Officer Mortgages Closing costs 418

Housing Wire

DECEMBER 22, 2020

As long as you go through with the deal, the deposit will go toward your closing costs and down payment. Link up with an experienced loan officer or mortgage broker , and tap their expertise when you’re confused or need help. You can offer more if you’re looking to get a leg up over other buyers. You’re not alone.

Fixed-rate mortgage 448

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 448

Housing Wire

SEPTEMBER 7, 2023

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 One of the top loan officers in the nation has set up webinars that he does four times a week and he is building up his own pipeline.”

Agents 418

Agents Loan Officer Lending Loans 418

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As

Loans 482

Loans Loan Officer Mortgages Closing costs 482

Housing Wire

FEBRUARY 10, 2022

In November, Freddie Mac announced it would encourage landlords to provide access to rental payment data, by recouping a portion of closing costs for properties it finances. Freddie Mac CEO Michael DeVito gave an update on progress for Freddie Mac’s on-time rental payment initiative.

Loan Officer 418

Loan Officer Finance Loans Banks 418

Housing Wire

SEPTEMBER 22, 2022

These documents reveal critical details on loan terms, projected monthly payments, and how much the consumer will pay in fees and other costs to get their mortgage (closing costs),” Kalinski said.

Marketing 370

Marketing Loan Officer Loans Finance 370

Housing Wire

APRIL 9, 2024

O n April 2, Hunterbrook Media reported that over 8,600 loan officers at independent brokerages sent UWM more than 99% of their mortgages in 2023, more than double the number of partners sending 99% of their loans to the lender in 2020. mortgage company, with more than $108 billion in home loans produced in the period.

Fixed-rate mortgage 467

Fixed-rate mortgage Loans Mortgages Loan Officer 467

Housing Wire

FEBRUARY 3, 2023

With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex. “By maintaining initial asking prices, builders can help keep current values in the neighborhood and ensure appraised values for buyers,” the company said in a statement. Guaranteed Rate originated $34.38

Loans 370

Loans Loan Officer Closing costs Mortgages 370

Housing Wire

SEPTEMBER 16, 2020

as a $400,000 loan including cash out, they get a… quarter of a point, or $1000 credit toward their closing costs. We’re closing loans in 15, 16, 14, 13 days. MI: Heavy lenders are putting it back on their rate sheet now – Citi and Guaranteed Rate and loanDepot all take 60 days to close loans, right?

Mortgages 488

Mortgages Marketing Title Loans 488

Housing Wire

JULY 2, 2024

Purchase is one we’re watching closely with the recently implemented tweak to closing costs that we expect to open that door more fully. to 594 loans for the month. to 594 loans for the month. Geographically, the region that endured the least severe drop is the industry’s most prominent one.

Mortgages 431

Mortgages Equity Loans Loan Officer 431

Housing Wire

JULY 4, 2024

Historically, interest rates are not as extreme as they seem, and with proper guidance, potential buyers can still find manageable financing options with lower down payments, down payment assistance and the potential for seller concessions to help cover agent commissions and closing costs.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

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 392

Lending Banks Loan Officer Loans 392

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

MAY 12, 2022

It also closely resembles the private equity mentality: Scale as fast as possible, focus on KPIs to secure more capital regardless of any underlying issues they might hide and, when costs need to be cut, start the layoffs. Customer acquisition costs go up. That means reducing response times from days to hours. KPIs take a hit.

Lending 368

Lending Marketing Pre-qualification Pre-approval 368

Housing Wire

OCTOBER 20, 2023

Share your closing gifts If one of your strengths is finding personalized closing gifts for your clients, then show that off on social media. This could include posting information regarding down payments, typical closing costs to expect, first-time homebuyer programs available, and tips on navigating lending.

Agents 434

Agents Lending Renovation Staging 434

HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The closing process fills several weeks as you navigate through multiple steps to make it to the closing table. How long does the house closing process take?

Closing 111

Closing Inspection Title Due diligence 111

HomeLight

JUNE 20, 2023

Closing is a vastly different experience for homebuyers and home sellers. Closing signifies the end: a time to cash the check and move on. Buyers must bring a passel of documents and a cashier’s check to closing. In this post, we’ll show you what to bring and what you’ll need to sign to close the deal.

Closing 98

Closing Purchase and sale agreement Title Title search 98

HomeLight

OCTOBER 1, 2020

One of those terms is “ clear to close.” What does clear to close mean? Clear to close is more straightforward than you’d think. Once you’ve signed all your documents and “closed” your mortgage, the lender will pay the seller and all parties and you get the keys to your house.”. What happens before the clear to close?

Closing 97

Closing Purchase and sale agreement Inspection Loans 97

HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

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Closing Earnest money deposit Sales Inspection 118

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. Step 3: Learn how a loan officer can help.

Pre-approval 131

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