Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. We would feed them leads, but they came back to us because they didn’t know how to structure the full document deals,” Jay Voorhees, co-founder at JVM Lending, said in an interview with HousingWire.

Lending 418

Lending Loans Pre-approval Loan Officer 418

Housing Wire

OCTOBER 28, 2024

While retaining existing customers should remain a key priority, as interest rates fluctuate, lenders should be prepared to support an increase in new business for refinances, purchases and home equity lending. To earn the borrower’s loyalty and trust, the digital application experience must be as intuitive and efficient as possible.

Loan Officer 435

Loan Officer Pre-approval Technology Loans 435

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack.

Lending 370

Lending Marketing Pre-qualification Pre-approval 370

Housing Wire

APRIL 8, 2021

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process. Second, it allows you to tailor your offer to each individual house you put an offer on.

Pre-approval 468

Pre-approval Inspection Lending Staging 468

Housing Wire

JUNE 20, 2024

Mortgage Connect Risk Solutions is approved by each of the major credit-rating agencies. Its suite of services includes mortgage QC, due diligence and fulfillment; pre-funding and servicing QC; and new registrations and transfers to the Mortgage Electronic Registry System ( MERS ).

Due diligence 448

Due diligence Mortgages Pre-approval Lending 448

Housing Wire

JANUARY 18, 2022

” Per the company’s website , it takes five minutes to receive a pre-qualification for a mortgage, though final approval is conditional on finishing the application and providing supporting documents. The crypto mortgage product will be available to most applicants in early 2022, Milo added.

Mortgages 501

Mortgages Pre-qualification Pre-approval Lending 501

RIS Media

SEPTEMBER 14, 2023

Before you buy a home, unless you have the cash to purchase outright, you’ll need to get pre-approved. Understanding how mortgage pre-approvals work is essential. This means finding a lender that offers the type of mortgage you want and then going through the pre-approval process.

Pre-approval 137

Pre-approval Mortgages Lending Industrial 137

Housing Wire

MAY 3, 2024

After the last crash, builders scaled back significantly and never fully recovered to pre-2007 levels. The time-consuming process of acquiring land and navigating regulatory approvals poses a barrier to rapid expansion. These demographic trends create a sustained and diverse demand, supporting a stable housing market.

Pre-approval 455

Pre-approval Lending Inspection Equity 455

Housing Wire

JUNE 22, 2023

This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval. By partnering with an approved TLS wholesale partner, borrowers have the option to secure a line of credit with terms ranging from five to 30 years, along with 2- to 5-year draw terms.

Loans 370

Loans Pre-approval Equity Lending 370

Housing Wire

JANUARY 18, 2023

In a letter to shareholders following its first quarter earnings, Opendoor said it is preparing to launch a fully digital financing product that can provide a pre-approval in less than 60 seconds with Lower as a “strategic partner.”. population. Lower originated $4.19 billion in production volume in 2022, down 46.9%

Mortgages 397

Mortgages Pre-approval Lending Finance 397

Housing Wire

MARCH 30, 2021

By implementing a credit process, lenders have the ability to help borrowers get approved for a loan – even after they were previously declined. Once their scores has been improved, these applicants can become customers and then apply and hopefully get approved for a better loan. Or, give up looking altogether.

Pre-qualification 468

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

Housing Wire

MAY 26, 2022

To verify the borrower’s employment, Freddie Mac’s asset and income modeler will draw data from bank accounts for direct deposit, with the borrower’s approval, or from payroll data provided by third-party service providers. Deeper asset history unlocks new lending opportunities. The option will be available starting June 1.

Closing 435

Closing Pre-approval Lending Banks 435

Keeping Current Matters

DECEMBER 1, 2021

Pre-Approval: the Best Opening Play To Make as a Homebuyer. And the best move you can make when you begin your home search is getting pre-approved by a lender. You’ve probably already heard this is an important step, but what exactly is pre-approval and what benefits does it provide you? Bottom Line.

Pre-approval 289

Pre-approval Marketing Loan Officer Lending 289

Housing Wire

OCTOBER 1, 2024

The Federal Housing Administration (FHA) on Tuesday issued an informational notice to mortgage lenders in which it reiterates various loss-mitigation options afforded to companies and borrowers who are engaged in FHA lending programs in presidentially declared major disaster areas (PDMDAs).

Inspection 476

Inspection Pre-approval Loans Principal 476

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. Inertia within lending institutions poses a formidable barrier. Reward good behavior at the individual level. Mandate change from the top down.

Loan Officer 448

Loan Officer Pre-approval Technology Lending 448

Housing Wire

OCTOBER 5, 2021

In light of this, HousingWire sat down with Saleforce’s Global Head for Mortgage and Lending, Geoff Green, to learn how lenders can better turbocharge mortgage for today’s home buyers. Our partnership enables an end-to-end home lending experience. This might not be an easy button yet, but it’s certainly an easier button.

Mortgages 363

Mortgages Pre-approval Lending Loans 363

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders.

Mortgages 370

Mortgages Loan Officer Lending Pre-approval 370

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

Mortgages 370

Mortgages Pre-approval Lending Loan Officer 370

Housing Wire

JUNE 17, 2024

Department of Housing and Urban Development (HUD) announced Monday the availability of $10 million in new grants to be distributed to 23 HUD-approved counseling agencies nationwide, which will help the department boost homeownership rates within historically underserved communities.

Pre-approval 459

Pre-approval Finance Development Design 459

HomeLight

OCTOBER 27, 2020

Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? Marcus Rittman, director of mortgage operations at HomeLight Home Loans, has seen that “the catalyst for most homeowners wanting to get approved for a mortgage is finding a home that they love.” Don’t let that be you!

Pre-approval 105

Pre-approval Loans Due diligence Bankruptcy 105

Housing Wire

DECEMBER 7, 2023

While the conservatorship has allowed for the mortgage market to be restored to its pre-crisis state and strengthened these two government-sponsored entities (GSEs), there are significant downsides to maintaining the status quo indefinitely.

Pre-approval 545

Pre-approval Mortgages Development Lending 545

Housing Wire

JANUARY 26, 2022

Building the next generation of tech: Three ways to digitize home lending. The home lending industry has a massive opportunity to digitalize to create efficiencies and to deliver a simpler end-to-end user experience that would benefit both borrowers and servicers. Refinancing is also not an option.

Mortgages 370

Mortgages Pre-approval VA loan Lending 370

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.

Pre-qualification 97

Pre-qualification Pre-approval Mortgages Loans 97

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.

Pre-approval 124

Pre-approval Debt-to-income ratio Mortgages Marketing 124

Housing Wire

NOVEMBER 8, 2021

Often times I’ll come in on a Monday and I’ll have emails saying that clients put offers in on homes and had them accepted even though we didn’t write up a pre-approval level,” Naumovych said. From a lending perspective they are the easiest loan to work with,” Naumovych explained. That never happens when a VA loan is involved.

VA loan 418

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

Housing Wire

DECEMBER 1, 2023

” Soft and hard pulls Another change for 2024 is related to the pricing structure of soft pulls, which are performed to provide pre-approval letters, only visible to the borrower and without impacts on credit scores.

Mortgages 482

Mortgages Pre-approval Closing costs Lending 482

First Team Real Estate

AUGUST 31, 2020

If you’ve read any tips for homebuyers then chances are you’ve heard that you need to get pre-approved for a mortgage loan. The question is – how exactly do you get the pre-approval? Here are the steps you need to take to get pre-approved for a mortgage loan and the most important facts you need to get you there.

Pre-approval 98

Pre-approval Pre-qualification Loans Mortgages 98

Housing Wire

APRIL 4, 2022

million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8

Closing 370

Closing Mortgages Loan Officer Pre-approval 370

Maximum Exposure Real Estate

AUGUST 16, 2023

A mortgage pre-approval is a crucial step in the home-buying process. It states on the letter how long the pre-approval is valid, typically around 90 days. Understanding the duration of […] The post How Long is a Pre-approval For a Mortgage Good For? appeared first on Maximum Real Estate Exposure.

Pre-approval 98

Pre-approval Debt-to-income ratio Mortgages Lending 98

Housing Wire

SEPTEMBER 29, 2022

MAXEX , a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. Facilitating forward-trading agreements, which allow platform users to sell loan pools at a future date with pre-negotiated terms and pricing.’.

Marketing 397

Marketing Pre-approval Bankruptcy Loans 397

Housing Wire

JUNE 16, 2022

Consequently (it) will shrink the buyer pool,” Yun said, adding: “Sales could fall even further with some inventory sitting on the market for more than a month like in the pre-pandemic days.”. After revisiting one of his client’s pre-approvals from last year, he had to call to scale down the $300,000 mortgage to about $260,000. “It’s

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

MARCH 3, 2022

Here’s how to proactively maintain fair lending. The modification must be made no later than 18 months after the date in which the COVID-19 national emergency ends, without VA pre-approval. The loan must be modified no later than after the date on which the COVID-19 national emergency ends.

VA loan 370

VA loan Pre-approval Principal Loans 370

Housing Wire

FEBRUARY 18, 2022

The sights, sounds and smells of quarter-mile drag racing were something to behold for a pre-teen boy living in the suburbs of Los Angeles, and getting to be “part” of the pit crew really brought out my love of all things mechanical. On January 1, 2021, PAREA became approved as an alternative way of gaining experience.

Pre-approval 397

Pre-approval Technology Lending Industrial 397

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.”. Meanwhile, others worry that they will soon wash out of the industry.

Loan Officer 418

Loan Officer Marketing Pre-approval Mortgages 418

Housing Wire

JULY 21, 2022

Creating an invincible lending strategy refresh amid chaos. Those pleadings, among other requests, seek court approval for FGMC to obtain post-bankruptcy warehouse financing (called debtor-in-possession, or DIP, financing). FGMC also owes $18.4 That debt is listed as secured debt.

Bankruptcy 418

Bankruptcy Banks Pre-approval Principal 418

Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. The philosophy was that no credit wasn’t necessarily bad credit and underwriters could make judgement calls in order to approve a loan.

Debt-to-income ratio 448

Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 448

Housing Wire

JULY 12, 2022

. “As we know, the Federal Reserve has indicated they’re going to continue to raise rates, so we can lock in the loan with today’s rate for up to 90 days,” said Scott Bridges, senior managing director of direct consumer lending.

Mortgages 397

Mortgages Pre-approval Loans Closing costs 397