Housing Wire

JANUARY 27, 2023

The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 418

Lending Loans Pre-approval Loan Officer 418

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. Reich’s division has a goal of closing $1 billion in loan origination volume this year at Go Mortgage.

Loans 418

Loans Mortgages Loan Officer Pre-approval 418

Housing Wire

OCTOBER 1, 2024

Pre-CTC review processes : In a proactive shift, some lenders are moving their QC efforts earlier in the loan process, conducting pre-clear-to-close (CTC) reviews. By identifying potential discrepancies and compliance issues upfront, lenders can prevent more significant problems from surfacing post-closing.

Loans 405

Loans Pre-approval Marketing Staging 405

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. To combat this, loan officers must be incentivized to embrace innovation. In closing, I invite readers to join the conversation.

Loan Officer 435

Loan Officer Pre-approval Technology Lending 435

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Loans 459

Loans FHA loan Mortgages Loan Officer 459

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

MAY 8, 2023

The BIG Point of Sale features an Encompass integration with an interface module that enables a loan to deep link from The BIG Point of Sale web portal directly into the Encompass loan file from a mobile device.

Technology 378

Technology Sales Mortgages Pre-approval 378

Housing Wire

APRIL 12, 2022

LO Toolkit supports loan officers on all key workflows across the entire loan process in one workspace, enabling them to be trusted advisors and operate more efficiently. It provides teams the power to close more loans, faster while reducing origination costs. Enable side-by-side loan scenarios. #3.

Pre-approval 280

Pre-approval Loan Officer Loans Closing 280

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. The pastor of the Ukrainian church is currently looking to buy a house and I’m working on his pre approval.”.

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Loan Officer Marketing Pre-approval Mortgages 418

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. Embracing change The future of the real estate market is inevitably different from the past.

Pre-qualification 475

Pre-qualification Pre-approval Seller concession Finance 475

Housing Wire

APRIL 4, 2022

The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

FEBRUARY 15, 2023

Steinway, who claims to have closed more than $1 billion of loan volume in his 24-year career, joined Revolution at the end of January, he said in an interview with HousingWire on Wednesday. Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023.

Mortgages 369

Mortgages Pre-approval Lending Loan Officer 369

Housing Wire

JUNE 24, 2021

Buyside helps real estate agents and loan officers engage homeowners with not just home value tools but also branded wealth optimization tips on their home’s equity so homeowners can now truly view their home as an asset. In 2020, Buyside clients closed close to $20 Billion in sales through Buyside, averaging over a 3000% ROI.

Pre-approval 382

Pre-approval Equity Loan Officer Brokerage 382

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.

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

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. I think we have some outdated stories and some urban legend stuff around VA loans,” said Wisnom, who is based out of Annapolis, Maryland, home of the U.S. That never happens when a VA loan is involved.

VA loan 418

VA loan Agents Pre-approval Debt-to-income ratio 418

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. Broker Hussam Saada of Precision Mortgage closed about 60% of mortgages with UWM after the firm rolled out its new pricing initiative.

Loan Officer 435

Loan Officer Loans Equity Mortgages 435

Housing Wire

DECEMBER 20, 2022

When the refi market dried up in 2022, business took a drastic turn for Thuan Nguyen, CEO of Loan Factory and the top loan originator on the Scotsman Guide for the last two years. Nguyen says he has originated $467 million in origination volume this year, closing 1311 units by the end of November. I cut [my team] down a lot.

Loan Officer 74

Loan Officer Loans Pre-approval Technology 74

Housing Wire

FEBRUARY 21, 2023

Lenders who are modernizing across the entire scope of the origination journey — digitizing processes from application and title through close and post-close — are building unprecedented momentum for their businesses. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork.

Pre-approval 364

Pre-approval Technology Title Loans 364

Housing Wire

DECEMBER 6, 2022

range, versus closing on their mortgage now when their homes are finally finished being built and rates are around 7.0%,” said Summers, a Keller Williams agent in Provo, Utah. Fahad Janvekar, a loan officer at Fairway Independent Mortgage. Even if it is 9 at night, he’ll find a way to get me a pre-approval letter,” she said.

Loan Officer 370

Loan Officer Pre-approval Loans Agents 370

Housing Wire

OCTOBER 5, 2021

Lead management needs to meet borrower experience, and borrower experience and loan officer experience should unify in one platform. With the Financial Services Cloud industry data model, users can accelerate innovations leveraging automation, workflows, triggers, journeys and approvals.

Mortgages 321

Mortgages Pre-approval Lending Loans 321

Housing Wire

SEPTEMBER 14, 2020

Is this a low-risk, low-LTV loan? 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? In what cases can we close the loan fully electronically? Can the borrower shop for a loan anonymously?

Lending 488

Lending Mortgages Technology 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. This is not an Amazon order. KPIs take a hit.

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Lending Marketing Pre-qualification Pre-approval 361

Housing Wire

AUGUST 31, 2020

Even as lenders make significant investments in new technology and digital infrastructure, they continue to struggle with increasing costs per loan and time-to-close metrics. And it’s Day 1 Certainty approved.”. Automation and standardization are key components. But we don’t.

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Pre-qualification Pre-approval Loan Officer Loans 246

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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Pre-approval Mortgages Loan Officer Loans 76

Housing Wire

APRIL 18, 2023

When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. That referral process is an age old, where the real estate community will give up a third of their commission for being delivered a qualified, pre-approved borrower that came out of the relocation world.

Loan Officer 361

Loan Officer Loans Pre-approval Mortgages 361

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 2: Qualify for a home loan or loan pre-approval. Step 3: Learn how a loan officer can help.

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

Realty Biz

DECEMBER 20, 2021

You need to count on on-time mortgage closings and have the peace of mind that comes with constant communication. According to a new report, choosing the right lender or loan officer is by far the most important decision you will make when entering into a new home transaction. Pre-approval. Rising Home Prices.

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Pre-approval Loan Officer Loans Finance 111

Realty Biz

DECEMBER 14, 2021

You need to count on on-time mortgage closings and have the peace of mind that comes with constant communication. According to a new report, choosing the right lender or loan officer is by far the most important decision you will make when entering into a new home transaction. Pre-approval. Rising Home Prices.

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Pre-approval Loan Officer Loans Finance 108

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

Realty Biz

MARCH 9, 2021

Getting Pre-Approved for the Family Opportunity Loan. Getting a pre-approval letter from a lender for the Family Opportunity Loan is almost identical to getting approved for any conventional mortgage. The borrowers will need to present documents showing their income for the past 2 years.

Pre-approval 144

Pre-approval Earnest money deposit Debt-to-income ratio Loans 144

RIS Media

AUGUST 19, 2021

“With Rocket Mortgage, I’m able to get people approved fairly quickly, and they are as flexible and available to me as I am to my client,” says DaCosta, an agent at Better Homes and Gardens Real Estate Metro Brokers. “I also have two loan reps who are there when I’m putting in a loan referral.”

Pre-approval 98

Pre-approval Mortgages Loan Officer Marketing 98

HomeLight

JULY 30, 2024

Apply for the loan: Work with an FHA-approved lender to complete your reverse mortgage application and obtain pre-approval. Closing: Once the loan is approved, you’ll go through the closing process, which involves signing the final paperwork and making your down payment.

Mortgages 115

Mortgages Pre-approval Equity Loans 115

Keller Williams

AUGUST 17, 2022

Over the next several months, the housing market will be more in line with pre-pandemic market conditions,” shares KW chief economist Ruben Gonzalez. As a partner of Keller Williams, our loan officers are here to provide your clients with the easiest home financing experience available,” says Ball. “We

Finance 90

Finance Pre-approval Loan Officer Mortgages 90

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

HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5%

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Earnest money deposit Closing Sales Title 110

HomeLight

OCTOBER 26, 2021

But that is only a preliminary step to getting final approval for a mortgage. That process is called mortgage underwriting, and it involves several requirements on your part — and action steps on the underwriter’s part — that can have an impact on how long it will take to close on your home purchase. loans through its technology.

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Pre-approval Mortgages Loans Loan Officer 104

HomeLight

OCTOBER 5, 2020

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. There is a process you must follow to get pre-approved for a mortgage. The closing costs are the second-largest chunk of money you’ll need to account for, right behind the down payment itself.

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Short sale Sales Pre-approval Pre-qualification 97