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

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. They weren’t so small that they couldn’t handle us.”

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Loans Mortgages Loan Officer Pre-approval 418

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

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 424

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. Even if I write seven pre-approvals a day, when there is one house and there’s 20 people that want to buy the same house, we still can’t do a lot of deals,” Marquis said. They won’t accept that offer.

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Loans Pre-approval Closing Marketing 417

Housing Wire

NOVEMBER 30, 2022

The solution leverages the power of innovative, integrated technologies to not only simplify the mortgage application and approval process for borrowers, but also to improve the backend process for loan officers. Borrower Digital is further enhanced with Black Knight’s companion solution Loan Officer Digital.

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Loan Officer Pre-approval Technology Loans 435

Housing Wire

JULY 3, 2023

The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. We’ll reach out to those loan officers in markets where we have existing retail branch locations. Instead, tapping high-volume loan officers in targeted locations has worked for PrimeLending. “We

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Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

Housing Wire

MARCH 23, 2023

An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings. You have less people but they are more committed,” Marckwardt said. “I

Mortgages 418

Mortgages Pre-approval Fixed-rate mortgage Loan Officer 418

Housing Wire

SEPTEMBER 27, 2021

Exponentially increase your loan officers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loan officers dearly. Sounds too good to be true, doesn’t it?

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Loan Officer Loans Pre-approval Development 370

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. Link up with an experienced loan officer or mortgage broker , and tap their expertise when you’re confused or need help.

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Fixed-rate mortgage Pre-approval Mortgages Loan Officer 448

Housing Wire

OCTOBER 28, 2024

Moreover, the older the loan, the more likely the borrower would refinance elsewhere. Equally important is the ability to proactively and automatically detect within an existing customer database who is ready to buy, so loan officers can reach out to those borrowers before they even act.

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Loan Officer Pre-approval Technology Loans 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. Inertia within lending institutions poses a formidable barrier.

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Loan Officer Pre-approval Technology Lending 445

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.

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Technology Sales Mortgages Pre-approval 392

Housing Wire

MAY 10, 2023

This has serious consequences for real estate agents and loan officers alike, since it’s usually a zero sum game. I sent pre-approvals two-to-three times a day, and then there are 30-plus offers on the homes and I virtually never get contracts,” one veteran loan officer told HW in late March.

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Loan Officer Pre-approval Marketing New Construction 397

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 purchase price “represents a $72.5

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Closing Mortgages Loan Officer Pre-approval 370

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. trillion in new loans in 2020 and $3.9 Labor Department.

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Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

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

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.

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

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. By embracing new ways of thinking and running our businesses, we can help clients achieve their dreams.

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Pre-qualification Pre-approval Seller concession Finance 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.

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Pre-approval Loan Officer Loans Closing 284

Housing Wire

MARCH 29, 2023

Historically correlated to 10-year treasury notes, the 30-year fixed rate with conforming loan balances ($726,200 or less) decreased to 6.45% last week, the lowest level in over a month, according to the MBA data. Is the spring buying season here?

Mortgages 435

Mortgages Pre-approval Banks Loan Officer 435

Housing Wire

SEPTEMBER 26, 2023

The API, which utilizes Loan Product Advisor (LPA) AIM independent of an LPA submission, enables Freddie Mac-approved sellers and third-party originators to get a preliminary view of a borrower’s qualifying asset, income and employment before submitting a full application to LPA.

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Pre-approval Mortgages Loans Industrial 427

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

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.

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Mortgages Pre-approval Lending Loan Officer 370

Housing Wire

AUGUST 7, 2020

Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We Kortas said he actually trains his competition and his licensing team helps loan officers get licenses because that will make the environment stronger in the long run.

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Mortgages Loan Officer Lending Pre-approval 370

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.

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

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.

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Pre-approval Marketing Loan Officer Lending 273

Housing Wire

JANUARY 4, 2024

A lot was built around those foundational technologies for what we have today in the Mello system, in the stack that our loan officers love and appreciate. A loan origination system is a big decision, it’s kind of a decade-long decision. Or even if you’re not approved, you know what actions you need to take.

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Technology Loan Officer Pre-approval Loans 431

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. billion in origination volume last year, making you the loan originator with the most origination volume for two consecutive years on the Scotsman Guide.

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Loan Officer Loans Pre-approval Technology 74

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%. billion in loans over the first six months of 2022 — for total proceeds of $871.7 UWM’s loan production income of $296.5

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Loan Officer Loans Equity Mortgages 435

Housing Wire

OCTOBER 5, 2021

HW: What are some challenges lenders are facing when it comes to streamlining loan applications, particularly in this heavy purchase environment? Geoff Green: Streamlining loan applications should be getting easier as more and more mortgage technology enters the marketplace, but that is not always the case.

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Mortgages Pre-approval Lending Loans 346

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. According to NAR over 69% of buyers have a home to sell, so really homeowners represent the earliest buyer.

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Pre-approval Equity Loan Officer Brokerage 404

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?

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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.

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Lending Marketing Pre-qualification Pre-approval 369

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 result here is that borrowers who have FICO scores below, say, 720 with a high loan to value (LTV) will often find a better deal by going to the FHA.

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

Housing Wire

FEBRUARY 21, 2023

How origination modernization benefits lenders The mortgage application and pre-approval processes have been digitized for some time, to the benefit of borrowers and lenders alike. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork.

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Pre-approval Technology Title Loans 369

Housing Wire

DECEMBER 6, 2022

So, about two weeks before the closing was scheduled to take place, the builder reaches out to me and was like, ‘The loan officer on your client’s file got laid off and we are assigning a new one to it.’ Fahad Janvekar, a loan officer at Fairway Independent Mortgage.

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Loan Officer Pre-approval Loans Agents 370