Keeping Current Matters

SEPTEMBER 16, 2022

Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Some Highlights.

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Housing Wire

MAY 24, 2024

Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans. How student loans impact your ability to buy a home Adding a mortgage on top of monthly student loan payments can create a significant financial strain.

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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 435

Housing Wire

SEPTEMBER 2, 2022

Loan originator and servicer Sun West Mortgage Co. has unveiled the latest version of its proprietary artificial-intelligence (AI) platform, called Morgan, which enables the lender to convert pre-approved, property-specific home loans into tradable non-fungible tokens (NFTs).

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Housing Wire

NOVEMBER 9, 2022

According to Black Knight’s mortgage monitor report, the country’s housing equity position remains strong compared to its position at the beginning of the pandemic, with equity positions $5 trillion, or 46%, above pre-pandemic levels. What is a home equity loan? But which is the best option for your borrower? Read on to find out.

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Housing Wire

FEBRUARY 7, 2025

council enacted the Fairness and Stability in Housing Amendment Act of 2024 , which amends specific housing agency laws to allow for protections for older district residents with a reverse mortgage loan. Mayor Muriel Bowser approved the measure on Jan. Around $200,000 was distributed, and our average loan size was around $3,900.

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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. Jim Coffrini, President and CEO.

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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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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.

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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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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.

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Housing Wire

NOVEMBER 30, 2021

Lenders have come to appreciate the benefits technology can bring – but those benefits are only useful if the implementation of new tools doesn’t make the loan process more complicated. Information is routed from the borrower to the loan origination system and vice versa, with the solution providing prompt feedback.

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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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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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Housing Wire

MARCH 6, 2023

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. I see a lot more low credit scores, funky income, foreign nationals or bank statement loans,” he said. For the week ending Feb.

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Housing Wire

NOVEMBER 20, 2023

In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business. No matter what it looks like, buyer agents will be working for less and this is where trailing risk for loan officers comes in.

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Housing Wire

SEPTEMBER 16, 2024

“This program will take care of the training, coaching and licensing, and deliver licensed loan originators (LOs) back to our broker partners who will be ready to originate loans, contribute to the growth of the wholesale channel and help even more consumers across the country,” Mat Ishbia, president and CEO at UWM, said in a prepared statement.

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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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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. Valenzuela has been able to create a high pull-through closing after retaining pre-approved clients thanks in part due to weekly check-ins with his clients.

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Housing Wire

APRIL 5, 2024

“Attractive homes are moving fast, so those looking to buy this spring should get their finances in order now, including getting pre-approved for a home loan. Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement.

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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?

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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.

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Housing Wire

DECEMBER 6, 2024

Save time with pre-written newsletters from Market Leader Don’t have time to write three or more newsletters every month? Evergreen topics might include: how to prepare to list your house, everything your client needs to know about VA loans; or which home improvements yield the best financial return in a home sale.

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Housing Wire

SEPTEMBER 21, 2023

Guaranteed Rate ’s PowerVP mobile app aims to enhance loan originators’ ability to keep in constant contact with customers anywhere, at any given time — 24/7. G-Rate will provide 2% of the required 3% minimum down payment for a conventional loan or up to $2,000 — whichever is lower. Agents submitting an offer at 8:30pm?

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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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Housing Wire

NOVEMBER 14, 2023

“We will cover the costs of collecting and disseminating rent payment data for a 12-month period for multifamily property owners/operators of Fannie Mae-financed properties who leverage one of the three approved vendors to collect the data,” Fannie Mae said in a blog post.

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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.

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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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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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Housing Wire

OCTOBER 1, 2024

handbook, including inspection and repair escrow environments for loans that have yet to close. It also applies to endorsement, loan servicing and loss-mitigation efforts. The notice lists relevant guidance found in FHA’s Single-Family Housing 4000.1

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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 ).

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Housing Wire

AUGUST 24, 2022

Buyers can qualify for Tomo appraisal coverage by having an underwritten pre-approval from Tomo Mortgage before making the offer, a minimum of a 10% down payment, and are working with a Tomo partner agent who runs the property address through a verification process with Tomo before placing the offer. trillion purchase mortgage sector.

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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). history, follows a pre-seed round of $40 million. According to ValuePenguin , the average close-out time is 47 days on all loan types.

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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

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Housing Wire

DECEMBER 6, 2022

Headquartered and founded by Trent Hedge and Marco Monteiro earlier this year, the firm’s unified stack offers a white-labeled interface that can pre-fill loan applications in addition to instantly verifying income, assets and pulling credit, according to its website. .

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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

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Mortgages Pre-approval Fixed-rate mortgage Loan Officer 418

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.

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