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. One critical shift is the adoption of pre-funding QC reviews. This year, we’ve implemented a new pre-close audit before our underwriters finalize the loan.

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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. Inertia within lending institutions poses a formidable barrier.

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Loan Officer Pre-approval Technology Lending 435

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. When we get a borrower that comes in online, we do our good work to get them qualified to buy a home – these are mostly early stage buyers. There are support staff that come along with them (loan officers).

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Loan Officer Loans Pre-approval Mortgages 361

Redfin

JUNE 23, 2023

When it comes to buying a home, obtaining a mortgage pre-approval is an essential step in the process. A mortgage pre-approval provides you with a clear idea of your budget, helps you narrow down your home search, and makes you a serious contender in the eyes of sellers. What is a mortgage pre-approval?

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Pre-approval Mortgages Loan Officer Loans 62

Realtor.com

MARCH 10, 2021

Better yet, getting prepared with a Verified Approval Letter from Rocket Mortgage® by Quicken Loans® can help prospective buyers stand out from the crowd when making an offer. This formal pre-approval letter is an underwritten offer, which tells sellers that the prospective buyer’s finances aren’t going to be an issue for closing.

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Pre-approval Loan Officer Mortgages Finance 72

HomeLight

AUGUST 16, 2021

These classes may be available online or in-person, and you will need to supply a certificate of completion to your loan officer. Step 5: Get preapproved for your loan. Get preapproved for a loan at this stage. At this stage, you should already be preapproved. Source: (Sean Locke Photography / ShutterStock).

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Loans VA loan FHA loan Purchase and sale agreement 105

HomeLight

JUNE 15, 2023

Ask your loan officer about application fees before applying, and if you aren’t comfortable with the fee — which is often non-refundable — look for a lender that does not charge an application fee. Underwriting fee Underwriting refers to the research process of determining if you are a good candidate for the loan.

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Closing costs Closing Title Inspection 98