Housing Wire

APRIL 1, 2025

Under the terms of the merger which was unanimously approved by the boards of directors of both companies HomeStreet Bank will be merged with and into Mechanics Bank. The merger, which is expected to close in third-quarter 2025, creates a combined company with 168 branches and $23 billion in assets.

Banks 372

Banks Due diligence Pre-approval Equity 372

Housing Wire

MAY 26, 2022

Freddie Mac will now automatically verify borrower employment 10 days ahead of closing, which it says is more efficient than obtaining that information through oral or written verification. It’s the latest move from the government sponsored enterprise that seeks to streamline the closing process.

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Closing Pre-approval Lending Banks 435

Housing Wire

OCTOBER 1, 2024

The three overarching themes in all of these conversations include: Operational efficiencies for delinquent accounts : QC teams are honing in on how effectively operational processes are managed for delinquent loans, from customer service to loss mitigation. One critical shift is the adoption of pre-funding QC reviews.

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Loans Pre-approval Marketing Staging 423

Housing Wire

JANUARY 27, 2023

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. 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.

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. In turn, thousands of loan originators could soon be looking for a new lender to hang their license.

Loans 418

Loans Mortgages Loan Officer Pre-approval 418

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval.

Loans 370

Loans Pre-approval Equity Lending 370

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.

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Loans FHA loan Mortgages Loan Officer 459

Housing Wire

APRIL 4, 2022

Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8 22, according to the news release.The move allows Redfin agents in 91 markets to begin referring customers to one of 400 local Bay Equity loan officers as of Monday. The post Redfin closes $138M deal for mortgage lender appeared first on HousingWire.

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Closing Mortgages Loan Officer Pre-approval 370

Housing Wire

JUNE 30, 2021

In today’s booming housing market, mortgage brokers want to be able to close loans faster and more efficiently. The company’s Fast Track process allows brokers to instantly validate the borrower’s employment, income and assets prior to submitting the loan. Chief Production Officer Jay Promisco said.

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Pre-approval Technology Loans Industrial 231

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for. Or, give up looking altogether.

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Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 468

Housing Wire

AUGUST 23, 2023

New York-based digital lender Better.com announced Wednesday the closing of its business combination with the special purpose acquisition company (SPAC) Aurora Acquisition Corp , , ending a two-year journey to make the business public. Better partnered with Palantir to create the proprietary loan platform Tinman Marketplace in August 2022.

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Closing Pre-approval Finance Title 370

Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. With rates around 6.9%

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Loan Officer Loans Seller concession Pre-approval 397

Housing Wire

SEPTEMBER 20, 2022

HousingWire recently spoke to Donna Gibson, COO and president of QC Ally, about fraud prevention and loan quality outlook for the rest of 2022. HousingWire: In this time of market change and as we head towards the last quarter of 2022, what are the hot topics in risk, fraud prevention and loan quality?

Loans 369

Loans Marketing Lending Pre-approval 369

Housing Wire

JANUARY 20, 2021

The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. Before providing homeowners with a loan, lenders want to know they’re able to pay down charges in a timely manner. . Getting approved for a loan is only part of the battle. Make Sure You Can Afford The Mortgage.

Debt-to-income ratio 459

Debt-to-income ratio Pre-approval Mortgages Loans 459

Housing Wire

JULY 16, 2021

To provide that competitive edge, Tomo claims to issue mortgage pre-approvals within hours – not days – and cut closing times to 21 days (the industry average is 47 days). If an appraisal doesn’t come in on time or closing documents don’t make the deadline, Tomo executives say they will still close on schedule.

Lending 476

Lending Pre-approval Mortgages Closing 476

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. Pre-approval. As long as you go through with the deal, the deposit will go toward your closing costs and down payment. You’re not alone.

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Fixed-rate mortgage Pre-approval Mortgages Loan Officer 448

Housing Wire

AUGUST 24, 2022

Tomo says its appraisal coverage product protects home buyers from having to bring more cash to the close when appraisals come in low, with the same APR, cash-to-close and monthly payment guaranteed. In addition, homebuyers must be occupying the home as a primary residence, and therefore it is not available on multi-family properties.

Pre-approval 397

Pre-approval Mortgages Closing Loans 397

Housing Wire

DECEMBER 13, 2024

While buyback volumes remain well below their 2022 peak, they are still elevated compared to pre- pandemic levels. The added cost pours salt in the wound for credit unions, banks, and independent mortgage bankers , who are already recording average pre-tax losses of $534 per loan origination.

Pre-approval 368

Pre-approval Investor Loans Technology 368

Housing Wire

SEPTEMBER 30, 2021

The loan production process can be incredibly complex, as well as time-consuming. The platform’s mobile-first approach enables lenders to close more loans through on-the-go origination tools while also delivering the modern convenience that today’s consumers have come to expect.

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Pre-approval Loans Staging Closing 396

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. He will also inform the listing agent that he is a veteran himself and implores them to ask any questions or express concerns they have about VA loans.

VA loan 418

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

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. Approval may be granted in five minutes but is ultimately subject to verification of income and employment.

Lending 370

Lending Technology Pre-approval Equity 370

Housing Wire

FEBRUARY 23, 2023

Patrick O’Brien, the founder and CEO of LenderLogix , said the product was designed in response to the need for a more efficient and cost-effective method of managing the loan application process. When the application is complete, the loan originators give borrowers a customized needs list and a secure document upload link. “As

Pre-approval 380

Pre-approval Loans Closing costs Branding 380

Housing Wire

FEBRUARY 14, 2024

Soft credit pulls are a critical tool that our member mortgage loan originators use to work with underserved borrowers — particularly borrowers with credit blemishes — to improve their credit score and ultimately obtain a pre-qualification or an actual mortgage loan,” the CHLA wrote in a letter to the three credit bureaus on Wednesday.

Pre-qualification 433

Pre-qualification Pre-approval Fixed-rate mortgage Loans 433

Housing Wire

AUGUST 4, 2022

Matrix also has agreed to begin using RoundPoint as a servicer prior to the deal’s closing date “and expects to begin transferring loans to RoundPoint in the fourth quarter of this year,” the Two Harbors announcement of the acquisition states. billion MSR portfolio based on the UPB of loans serviced. million premium.

Mortgages 396

Mortgages Pre-approval Loans Principal 396

Housing Wire

JANUARY 26, 2022

According to a Q4 analysis by MISMO-certified wire and prevention fintech FundingShield, 42% of loans reviewed by the fintech firm had at least one risk finding, and of those loans, an average of 2.1 increase in state licensing issues among closing agents versus the 2021 average. Closing complications.

Industrial 367

Industrial Pre-approval Title Technology 367

Housing Wire

FEBRUARY 1, 2021

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. Pre-Foreclosure Potential.

Sales 434

Sales Pre-approval Short sale MLS 434

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 445

Loan Officer Pre-approval Technology Lending 445

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 476

Pre-qualification Pre-approval Seller concession Finance 476

Housing Wire

MAY 8, 2023

The goal was to create a configurable and robust Point of Sale to Loan Origination System integration, according to a press release from the company. This eliminates the need for a secondary loan repository outside of Encompass by ICE Mortgage Technology. Fintech software and hardware company Mortgage Automation Technologies, Inc.

Technology 391

Technology Sales Mortgages Pre-approval 391

Housing Wire

JUNE 24, 2021

If a homebuyer can’t close on their mortgage in time to buy the home they want, instead of losing out on the house, Accept.inc will buy the property with its own funds and reserve the home on their behalf. ” The process requires a pre-approval that once passed allow buyers to submit an all-cash offer with Accept.inc’s proof-of-funds.

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Equity Proof of funds Pre-approval Investor 415

Housing Wire

JANUARY 8, 2021

While the mortgage lending industry has always been an ever-changing profession, we as loan originators have entered a very unprecedented market, with a new landscape paved by uncertainty and a level of anxiety that could easily cripple the most seasoned originator.

Lending 476

Lending Mortgages Pre-approval Loans 476

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. Get More Info.

Pre-approval 284

Pre-approval Loan Officer Loans Closing 284

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. 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.

FHA loan 370

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

Housing Wire

JANUARY 26, 2022

.” According to the company, jumbo loans will be available for both 15-and-30-year cycles. For qualifying buyers, loans can be distributed in amounts up to $3 million. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans.

Mortgages 369

Mortgages Pre-approval VA loan Lending 369

Housing Wire

NOVEMBER 18, 2022

and is used by title insurance underwriters, title agents and closing attorneys. . The deal was quickly met with resistance from trade groups and investors voicing antitrust issues – the two giant suppliers of mortgage loan origination software would harm competition in the mortgage tech solutions market. billion, down from $2.9

Title 435

Title Pre-approval Investor Mortgages 435

Housing Wire

SEPTEMBER 14, 2020

Low interest rates have kept refinance loan volumes robust, but no one knows for how long. While other industries have learned to deliver high levels of customer engagement and satisfaction to online consumers, too many lenders are still originating loans much as they were 20 years ago. Is this a low-risk, low-LTV loan?

Lending 488

Lending Mortgages Technology Loans 488

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. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000. It’s a different approach to lending.

Mortgages 370

Mortgages Pre-approval Lending Loan Officer 370