Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. But for me, I do a lot of [Home Equity Conversion Mortgage (HECM)] for Purchase. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 459

Mortgages Principal Loans Loan Officer 459

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 384

Investor Sales Mortgages Loan Officer 384

Housing Wire

NOVEMBER 5, 2024

Costs may increase as the company continues to add loan officers and operations team members. In August, loanDepot added a first-lien home equity line of credit (HELOC) to its product suite, enabling homeowners without a mortgage to borrow from their home equity. Meanwhile, the company’s total revenues reached $314.6

Purchase and sale agreement 397

Purchase and sale agreement Equity Loan Officer Principal 397

Housing Wire

AUGUST 12, 2024

“When brokers work with American Senior Lending Wholesale Division, they benefit from our internal account executives, who are mostly licensed loan officers. In the last year, we’ve brought on a few principal agent partners, which was a good experience that helped us grow from just [third-party origination (TPO)].”

Lending 459

Lending Loan Officer Branding Principal 459

Housing Wire

DECEMBER 11, 2023

We locked in rates probably 25% more during that same period,” said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “We There is a lot more inquiry for home equity line credit. We’ve already seen there is more of a focus on home equity lines of credit and cash out refinances.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

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%. His tangible net worth ratio (a proxy of how much equity you have relative to your total assets) is just under 30%.

Loan Officer 435

Loan Officer Loans Equity Mortgages 435

Housing Wire

MARCH 20, 2024

I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space. “And

Development 459

Development Industrial Mortgages Loans 459

Housing Wire

MAY 16, 2022

million) are among the non-bank lenders that benefited from the sale of MSRs, offsetting the decline in closed loan volume in the first quarter of 2022. UWM, the nation’s largest wholesale lender, sold MSR on loans with an aggregate unpaid principal balance of about $56.6 million) and Homepoint ($11.9 UWM had $303.4

Principal 397

Principal Banks Loans Lending 397

Housing Wire

NOVEMBER 16, 2022

If you deliver 5,000 homes a year, that means you had 50,000 people looking for a house walk across your platform who are likely prequalified by your loan officers, and you … have a relationship with them. loan officers] in pods.’”. “The rest of those people are still looking for a house. “If

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

JUNE 15, 2022

Credit Union of Southern California started offering interest-only ARMs last month, in which the borrower delays paying down any principal for a period of time. Available as purchase or refinance loans, the rates are offered in five- and seven-year terms for primary residences $3 million and under, or for second homes for $2.5

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. trillion unpaid principal balance (UPB). Cooper had become the largest U.S. primary servicer—those companies with direct consumer interactions, regardless of who owns the servicing rights—with a $1.2

Mortgages 456

Mortgages Banks Debt-to-income ratio Loans 456

Housing Wire

JUNE 15, 2022

. “Rates are materially, definitely increasing faster than we were anticipating,” Saket Nigam, senior vice president of capital markets at Spring EQ , a home equity lender, said. ” At Spring EQ, demand for home equity loans continues to grow as home prices still increase, and borrowers struggle financially due to inflation.

Mortgages 397

Mortgages Loans Investor Equity 397

Calculated Risk Real Estate

SEPTEMBER 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 130

Closing Equity Short sale Principal 130

Realtor.com

APRIL 5, 2021

It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. Most interest-only home loans are adjustable-rate mortgages, or ARMs , says Scott Sheldon , a senior loan officer and consumer advocate in Sonoma County, CA.

Loans 122

Loans Mortgages Principal Equity 122

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity 105

Equity Marketing Loans Principal 105

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 105

Equity Finance Loans Closing costs 105

Calculated Risk Real Estate

JUNE 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 95

Closing Equity Short sale Principal 95

Calculated Risk Real Estate

MARCH 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. Mortgage debt is up $2.36

Closing 75

Closing Equity Short sale Principal 75

Calculated Risk Real Estate

DECEMBER 7, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 78

Closing Equity Short sale Principal 78

HomeLight

SEPTEMBER 30, 2020

Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. I have done many refinances over my career that have saved homeowners hundreds of dollars per month and tens of thousands over the life of the loan.”. Have the loan underwritten and go through closing again. Get the home appraised.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Realtor.com

JANUARY 16, 2023

In a reverse mortgage loan, your lender pays you, slowly turning the home equity you’ve earned back into cold, hard cash. However, just because you qualify for this type of mortgage doesn’t mean this loan option is a good idea for you. What is a Home Equity Conversion Mortgage (HECM)?

Mortgages 89

Mortgages Equity Loans Loan Officer 89

Calculated Risk Real Estate

SEPTEMBER 12, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. trillion in the second quarter of 2024.

Closing 69

Closing Equity Short sale Banks 69

Calculated Risk Real Estate

JUNE 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. year over year. year over year.

Closing 64

Closing Equity Short sale Banks 64

HomeLight

OCTOBER 11, 2021

In addition to your mortgage loan interest and principal, lenders also collect money each month that they put into escrow to pay your homeowners insurance. She advises having a loan officer run an estimate based on your home budget when deciding where to look for homes. But with a FHA loan, it’s not that simple.

FHA loan 104

FHA loan Loans Debt-to-income ratio Closing costs 104

HomeLight

JUNE 30, 2021

Ah, if only it were as simple as dividing the purchase price by the length of your loan term and calling it a day… Here’s what you need to be aware of when calculating a mortgage payment. Principal and interest. The majority of your mortgage payment will go toward principal and interest. Taxes and insurance.

Mortgages 80

Mortgages Principal Loans Homeowner’s association 80

HomeLight

AUGUST 31, 2021

PMI can be dropped when you reach 20% equity by paying down your loan principal. That’s when you talk to a loan officer,” Helali insists. He says a loan officer can give guidance on what type of loan — and the amount — you may qualify for based on your needs and qualifications. Ask questions!”

FHA loan 105

FHA loan VA loan Loans Loan Officer 105

Realty Biz

JUNE 15, 2022

Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. Department of Agriculture (USDA) or U.S.

Debt-to-income ratio 98

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 98

HomeLight

OCTOBER 5, 2020

With a lower down payment, they’re lending more money, and you have less equity in the house. If home values were to suddenly slide, and you defaulted on your mortgage loan, they could end up with a higher mortgage balance due than the home is currently worth. What does this mean?

Mortgages 80

Mortgages Equity Loans Loan Officer 80

HomeLight

JUNE 22, 2023

She advises that the sooner you contact an agent, the sooner they can recommend a qualified loan officer that can advise you on your financial situations and steps you might take to save a downpayment or fix issues with your credit which could take up to a year and a half to repair. Q: What’s included in my monthly mortgage payment?

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

JANUARY 31, 2022

Different banks and lenders have different ways of calculating this, but you can safely calculate your mortgage insurance rate to be somewhere between 0.25% and 1% of your mortgage loan amount annually. For FHA loans, however, the mortgage insurance typically lasts for the lifetime of the loan, unless you make a down payment of 10% or higher.

Loans 98

Loans Mortgages FHA loan Principal 98

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. and 1% of your loan amount, annually. to 1% of the loan amount annually. Know your loan types.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

HomeLight

MAY 31, 2021

These are things you just might not know as a buyer — but your agent and loan officer can give you guidance! What type of home loans do you offer? There are several types of home loans out there, and you’ll want to ask any potential lender which ones they offer, as not all lenders support all loan types.

Mortgages 85

Mortgages Debt-to-income ratio Loans Closing costs 85

Housing Wire

MAY 1, 2023

Name Job Title Company Name Alayna Gardner Director of Sales and Marketing LodeStar Software Solutions Alex Boand Managing Director of Correspondent Group Sales Pennymac Alison Flinn Chief of Staff Development Amherst Amanda Morrow Director of Investor Relations Atlantic Bay Mortgage Company Andres Munar Owner and President Co/LAB Lending Andrew Jewett (..)

Loan Officer 370

Loan Officer Principal Title Lending 370

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. Richard Harris, former chief executive officer at email sending and delivering platform Spark Post , will take the helm as CEO.

Sales 418

Sales Mortgages Loan Officer Principal 418

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 396

Sales Mortgages Loan Officer Loans 396

Housing Wire

MARCH 29, 2022

Calvin Bradford, the principal of Calvin Bradford & Associates Ltd, and one of the authors of the original Community Reinvestment Act of 1977. It’s been a racist part of the government that doesn’t care, because its view was: if you’re going to make safe loans, you should make them to white people.”

Lending 370

Lending Banks Mortgages Loans 370

The Close

DECEMBER 29, 2022

How else would you and your clients understand how much is being paid in principal and interest over the years? Clients may be confused about the difference between an interest rate on their mortgage loan and an APR. Your equity will increase as you pay down the loan and as your property value increases. Loan officer.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98