Housing Wire

SEPTEMBER 2, 2022

has unveiled the latest version of its proprietary artificial-intelligence (AI) platform, called Morgan, which enables the lender to convert pre-approved, property-specific home loans into tradable non-fungible tokens (NFTs). Loan originator and servicer Sun West Mortgage Co.

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Housing Wire

JANUARY 20, 2021

Getting approved for a loan is only part of the battle. But the truth is, when lender’s pre-approve homebuyers, they don’t always take into account monthly payments. But the truth is, when lender’s pre-approve homebuyers, they don’t always take into account monthly payments. Make Sure You Can Afford The Mortgage.

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Housing Wire

JUNE 22, 2023

These funds can be utilized to consolidate debts or finance home improvement projects. This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval. Borrowers receive 100% disbursement of funds, with no costs due at closing.

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Housing Wire

DECEMBER 22, 2020

Pre-approval. They’ll need a small amount of information about your income and finances, and if all looks good, they’ll give you a preapproval letter stating how much money you can likely borrow. As long as you go through with the deal, the deposit will go toward your closing costs and down payment.

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Housing Wire

JULY 4, 2024

Current market challenges The real estate market is currently characterized by a complex interplay of factors: Interest Rate Volatility: Fluctuating interest rates have made it difficult for potential buyers to predict the cost of financing a home. Embracing change The future of the real estate market is inevitably different from the past.

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Housing Wire

MAY 24, 2024

If you’re considering buying a home but worry that student debt will prevent you from securing a mortgage, you’ll need to be strategic about your approach to increase the probability of your application getting approved. A higher credit score is generally associated with high reliability, improving your chances of a mortgage approval.

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Propmodo

NOVEMBER 4, 2024

Washington, the founder and CEO, said the decision to close was not made lightly. Developers across the board, like NDC, struggle to navigate a landscape where elevated interest rates and years of inflation have made securing financing a daunting task. By 2024, NDC faced mounting financial difficulties. For Neighborhood Development Co.,

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Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Almost three months after Finance of America Mortgage shut down, Reich brought over 21 retail branches to form his own retail division at Go Mortgage.

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Housing Wire

JANUARY 26, 2022

Ribbit Capital led the financing, which also included participation from partners of DST Global , NFX and Zigg Capital. The digital mortgage lender advertises that it creates pre-approvals for its customer within hours, not days, charges no lender fees, and ensures on-time closings 100% of the time.

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Housing Wire

JULY 21, 2022

With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples.

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Housing Wire

NOVEMBER 8, 2021

There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle. A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close.

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Housing Wire

FEBRUARY 9, 2022

and get a pre-approval for a mortgage from the comfort of your own laptop. Yet, there remains a dark cloud over the general perception of the part of the process that occurs somewhere between the signing of the sales agreement and the exchange of house keys — the mortgage approval and settlement/closing process.

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Housing Wire

SEPTEMBER 2, 2021

The round includes $100 million of Series D equity and $263 million in debt financing – boosting HomeLight’s valuation to the tune of $1.6 It also allows sellers access to a network of pre-approved buyers to expedite the process. Lydia Jett of the SoftBank Vision Fund also participated. billion, the company claimed.

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Housing Wire

JUNE 20, 2024

The fourth quarter of 2023 was the seventh straight quarter of net production loss for lenders , who hemorrhaged an average of $2,109 pre-tax dollars for each loan they originated. In closing, I invite readers to join the conversation. No single party controls all the levers; we must work together toward solutions. Have more ideas?

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Housing Wire

OCTOBER 1, 2024

handbook, including inspection and repair escrow environments for loans that have yet to close. The inspection must be conducted by an FHA-approved appraiser, even if there is no damage listed in the report, which must be dated after the incident date or 14 days from it, whichever is sooner. “If

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HomeLight

JUNE 19, 2023

Like pre-qualification or pre-approval. Let’s lay it all out: How pre-qualifications and pre-approvals are similar Pre-qualifications and pre-approvals have a few things in common. Learn More What’s a pre-qualification? And voila, within minutes, you have a pre-qualification.

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Lighter Side of Real Estate

SEPTEMBER 12, 2023

If you’ve been searching for a house for any amount of time, you’re probably well aware of how important it is to get a mortgage pre-approval before you even start looking at houses, or at least as early on in the process as possible. When Should You Update Your Pre-approval? Pre-approvals aren’t good forever.

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Realtor.com

JANUARY 16, 2023

. “While you do not ‘need’ a pre-approval letter from your lender in order for your offer to be accepted, I highly recommend all of my buyers present it,” says Denise Shur , a Realtor® with 1:1 Realty in San Jose, CA. ” What is mortgage pre-approval? .”

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Keeping Current Matters

SEPTEMBER 30, 2020

Today’s ultra-competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. According to the latest Origination Insights Report from Ellie Mae , the time needed to close a loan is just 49 days.

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Housing Wire

JUNE 6, 2024

The government-sponsored enterprise (GSE) also thinks the Federal Housing Finance Agency ( FHFA ) will encourage it to offer single-family, closed-end second mortgages if a Freddie Mac product under analysis is approved. This interview has been condensed and edited for clarity. No one has indicated that that’s a possibility.

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Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week.

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Housing Wire

SEPTEMBER 22, 2022

Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment. Will Savage, a loan originator at PMC Mortgage , sees many pre-approved clients having to get reapproved for a mortgage based on the rate increases. research and consulting at TransUnion.

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Housing Wire

DECEMBER 28, 2023

It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings. In October, 67% of current LOs produced less than one unit of closed loans in October. An additional 21% closed 1.5 units per month and only 12% closed greater than 2.5

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Housing Wire

SEPTEMBER 14, 2020

In addition, they must change their entire approach to the business because borrowers have changed their expectations of the home finance industry. How can we most efficiently collect the information we need to complete the file, working in parallel if possible, to underwrite the loan and push it on to close?

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Housing Wire

DECEMBER 1, 2023

For 2023, FICO said it would collect approximately $2 to $8 for all three score tiers out of a $40 to $50 (or more) tri-merge report and score bundle and out of an average $3,800 in closing costs. Compared to 2022, mortgage lenders in 2023 saw a price increase between 10% and 400% , mortgage trade groups and other stakeholders said.

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Housing Wire

AUGUST 29, 2022

billion in equity as of the second quarter, plus technology that can close loans faster than most competitors, aggressive pricing is a “multibillion dollar decision investment,” as Ishbia put it. Broker Hussam Saada of Precision Mortgage closed about 60% of mortgages with UWM after the firm rolled out its new pricing initiative.

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Realty Biz

FEBRUARY 22, 2024

Glossy online listings behind your computer screen might fuel your dream home fantasy, but the home-buying process truly begins in earnest when a lender is contacted to be pre-approved for a mortgage. Once this process is complete, the lender will provide you with a pre-approval letter. When Should You Get Pre-Approved?

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BAM Media

MARCH 10, 2025

The deal, expected to close in Q2 or Q3 2025, will integrate Redfins 50 million monthly visitors with Rockets mortgage and title services to streamline homebuying. This move aims to integrate Rockets mortgage lending with Redfins home search and real estate services, making it easier for people to buy and finance homes in one place.

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Housing Wire

FEBRUARY 11, 2022

Just before a customer buys a container of pre-made Borscht, they see Naumovych’s business cards and flyers that lay neatly near the checkout area. The pastor of the Ukrainian church is currently looking to buy a house and I’m working on his pre approval.”. It has been very, very slow,” said Davis. “I

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Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. Get final mortgage approval. Review your closing disclosure.

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Housing Wire

DECEMBER 29, 2023

With so many approved, online options to choose from, we’ve pinpointed the best online real estate courses in New York using criteria that matter most to you: flexibility to fit your schedule, a price that fits your budget, and a course that’ll prepare you to ace the exam and start your new career with confidence and industry savvy.

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Marco Santarelli

MARCH 13, 2025

I've been watching the housing market closely for years, and I can tell you that timing is everything. What happens if the closing is delayed? Get Pre-Approved: Getting pre-approved for a mortgage will give you a better idea of how much you can afford and will also strengthen your offer when you find the right home.

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Realtor.com

AUGUST 13, 2020

Step 1: Getting mortgage pre-approval. Step 3: Closing the deal. Still other buyers might also be home sellers who first need to close on the sale of their old house before they can buy their next house. Step 1: Get pre-approved for a mortgage. kali9 / Getty Images Table of contents: .

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Realty Biz

AUGUST 21, 2023

When your mortgage pre-approval expires, it can impact your home-buying process. A pre-approval is crucial in determining your loan eligibility and understanding your purchasing power. A mortgage pre-approval is typically good for 60-90 days , so it is crucial to remember this time frame.

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Marco Santarelli

JANUARY 15, 2025

With homes flying off the market in an average of just 7 days , potential buyers need to have their financing squared away ahead of time. I think the fact that it is close to other major cities in the region is also a factor. Philadelphia, PA: Philly is a city with a deep historical presence and walkability.

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HomeLight

OCTOBER 24, 2024

Many sellers don’t realize that even in a traditional sale, buyers can often close quickly, especially with financing pre-approvals. Here’s what you can do: Offer a balanced view: Explain the difference between a quick cash offer and a traditional buyer with financing.

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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

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