Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgage 375

Mortgage Loan Officers Inventory Retail 375

Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.

Mortgage 438

Mortgage Loan Officers Inventory Business 438

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. and 2024 at 6%.

Loan Officers 392

Loan Officers Investors Mortgage Clients 392

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Half the clients go to the traditional banks where we can show tax returns. Cohen funded $751.4

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Marketing Mortgage Inventory Loan Officers 311

Housing Wire

SEPTEMBER 7, 2023

“That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.”

Buyers 373

Buyers Agents Loan Officers Real Estate 373

Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. We feel like we picked up more market share in 2022,” Kechian said. in the fourth quarter of 2022. But of course, we have a lot of clients that move out of condos once they have kids and get married.

Marketing 349

Marketing Inventory Loan Officers Buyers 349

Housing Wire

AUGUST 23, 2023

That’s a stark contrast to what was expected at the end of 2022, when economists forecast rates to be roughly 5.5% Rates at the 7% or 8% level could spur a reduction in home prices, but current inventory issues have limited this impact. Inventory remains thin. Inventory this past week last year was above 550,000 homes.

Mortgage 356

Mortgage Loan Officers Inventory Housing Market 356

Housing Wire

AUGUST 3, 2023

Our focus on servicing clients through innovation in this challenging market is working,” Bill Emerson, interim CEO of Rocket Companies, told analysts in its earnings call. The second quarter production represents a 35% drop compared to the same period in 2022. Revenue in Q2 2022 was $1.4 Rocket generated $22.3 billion from $8.1

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Clients Business Inventory Mortgage 301

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2

Business 366

Business Loan Officers Clients Inventory 366

Housing Wire

SEPTEMBER 22, 2022

Where ‘inventory’ was the big concern in 2021 and early 2022, the concern today is ‘affordability,’ with the combination of substantial price increases and rising rates simply pricing more and more Americans out of the market,” Green said. According to the NAR, there were 1.28

Mortgage 400

Mortgage Loan Officers Buyers Inventory 400

Housing Wire

FEBRUARY 7, 2023

The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. Tozer suggested “a fee of 1.3%

Mortgage 362

Mortgage Loan Officers Government Buyers 362

Housing Wire

APRIL 20, 2021

More recently, the buzz surrounds bidding wars due to extremely low inventory, purchase over refinance and the fluctuation of mortgage rates. Once again, Google grabbed headlines in March 2021 when they emphasized that the code would cease to exist across its platforms by 2022. Client engagement is a struggle.

Real Estate 404

Real Estate Mortgage Loan Officers Advertising 404

Housing Wire

JULY 26, 2023

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We Tight inventory and soaring home prices have pushed more homebuyers to more affordable areas in California.

Insurance 344

Insurance Housing Market Marketing Supply Chain 344

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based In 2022, only 7.6% of purchase loans that Fannie Mae closed were above 95% LTV, according to the Urban Institute.

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Loan Officers Insurance Mortgage Real Estate Agent 330

Appraisal Buzz

OCTOBER 3, 2022

According to their public website, in June 2022, the supply of existing homes for sale would last 3 months. I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers.

Appraisal 370

Appraisal Marketing Real Estate Inventory 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 trillion in 2022 and $2.3

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Mortgage rates are now at their lowest level since September 2022, and are about a percentage point below the peak mortgage rate last fall, according to the Mortgage Bankers Association.

Housing Market 410

Housing Market Marketing Insurance Mortgage 410

Housing Wire

MARCH 2, 2023

I feel like we have some people sitting on the fence again,” said one loan officer in the Portland, Oregon market. “I While prices are down from their summer peaks and price growth has declined significantly, the median home price nationally is slightly higher than it was at the beginning of 2022.

Mortgage 429

Mortgage Buyers Loan Officers Marketing 429

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. One of Dicker’s clients this past weekend backed out of a $295,000 houmese purchase in Michigan this past weekend. The last two years have been good to Christian Dicker.

Housing Market 400

Housing Market Marketing Brokerage Real Estate 400

Housing Wire

SEPTEMBER 30, 2022

Another 125 basis points in hikes are still to come in 2022, with a federal funds rate topping out well above 4%. An LO in the Miami, Florida area told HousingWire that on a $400,000 home purchase, with 5% down, a 700 FICO score, his clients are being quoted 7% for conventional loans and 6.125% on FHA and VA mortgages.

Buyers 448

Buyers Mortgage Loan Officers Retail 448

Housing Wire

DECEMBER 10, 2021

Josh Mettle: (1) Housing will continue to appreciate (albeit at a slower pace) until the supply of housing reaches balanced inventory levels. HousingWire: What do you think will be the big themes for the housing market in 2022? HousingWire: What are 2-3 trends that you’re closely following?

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Loan Officers Housing Market Mortgage Tools 335

Housing Wire

AUGUST 16, 2023

over that same period but 25% below the volume of July 2022. Its in-house servicing is helping extend the client life cycle, something that bigger players have used to great effect with refis. Ishbia says 2022 and 2023 are the grind-it-out years and 2024 will be a bit better. Overall lock volumes are up 4.8%

Retail 323

Retail Real Estate Agent Business Mortgage 323

Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 The FHFA’s conforming loan limit was a baseline of $647,200 in 2022, and $726,200 in 2023.) billion in 2022, down 41.3%

Insurance 315

Insurance Mortgage Clients Lending 315

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. 1 when it came to jumbo originations in 2022, with $28.7 Pontiac, Michigan-based United Wholesale Mortgage was the only nonbank on the list, in the ninth position with $7 billion in volume in 2022. billion in 2022. Who’s at the top?

Marketing 305

Marketing Retail Mortgage Investors 305

Housing Wire

DECEMBER 15, 2021

Housing inventory remains persistently low, home prices are at all-time highs and affordability is becoming out of reach for more people with every passing day. The same trend is seen in existing-home sales due in large part to a lack of inventory of available homes for sale. Median new-home sales prices rose 17.5%

Finance 334

Finance Construction Law Inventory 334

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year.

Renovations 376

Renovations Realtors Construction Mortgage 376

Housing Wire

MAY 6, 2022

Lenders can’t significantly impact the historically low inventory. HW: While non-QM loans have historically only accounted for a small portion of the mortgage market, industry experts expect to see significant growth in non-QM lending in 2022 and beyond. So instead, they must find a way to win a greater share of borrowers.

Marketing 317

Marketing Lending Loan Officers Training 317

Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. As the market has shifted, however, with mortgage rates rising in 2022 faster than forecast and lenders quickly cutting costs, some tech providers now are left vulnerable. Of the $387.2

Mortgage 330

Mortgage Technology Loan Officers Investing 330

Housing Wire

APRIL 29, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. With inventory remaining tight and demand still strong, Davis only sees this trend increasing as we get further into spring. Conway, Arkansas. Rochester, New York.

Housing Market 318

Housing Market Marketing Agents Real Estate 318

Housing Wire

JULY 25, 2022

Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. 1 housing market for spring 2022, there is no doubt that the housing market in Rapid City is one to watch. In March 2022, the median list price of a home was up 21.4%

Housing Market 317

Housing Market Marketing Real Estate Real Estate Agent 317

Housing Wire

JUNE 15, 2022

. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . The share of mortgage applications for ARMs is still below the historical average between 1990 and 2022 of 12.49% and significantly lower than the peak of 36.6% in 2005, the MBA said.

Mortgage 349

Mortgage Bracketing Loan Officers Investors 349

Housing Wire

JUNE 15, 2022

The lender’s loan rates, which range from 8% to 11%, are expected to grow 100 bps by the end of the year, reflecting the Fed’s tightening policy, Nigam said. Lenders expected that 2022 will be one of the most challenging years on record due to higher rates, lower refi volumes and the need to shed capacity. trillion in 2023.

Mortgage 378

Mortgage Investors Clients Marketing 378

Eppraisal

APRIL 20, 2021

Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. A full pre-approval is when a mortgage loan officer pulls your credit, verifies your employment and income, has your complete application and has all the required documents from you.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

Appraisal Today

OCTOBER 14, 2022

Consistent application of both quality control and quality assurance processes for appraisal review may also be in part a reason for improvement, as appraisers have a better understanding of what is needed by their client. I have always collected all the money owed from my lender clients using the collection techniques I write about.

Appraisal 52

Appraisal Insurance Real Estate Business 52

Appraisal Today

SEPTEMBER 8, 2023

Appraisers are being told by their AMC clients and loan officers to appraise these as residential properties. But then the price jumped in 2022 to a high of $60 million, before the listing was removed. And now, the chateau is again up for grabs. The 30-year fixed mortgage rate decreased to 7.21

Appraisal 80

Appraisal Contracts Business Construction 80

Appraisal Today

MAY 10, 2024

I have never done an “official” ROV for a lender, but I did not like any lender clients objecting to my values. New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted.

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Reconsideration of Value Appraisal Real Estate Insurance 73

Appraisal Today

AUGUST 13, 2023

Rates increased for all loan types in our survey, with the 30-year fixed mortgage rate increasing to 7.09 percent, the highest level since November 2022,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. government debt rating. Additionally, the rate for FHA mortgages increased to 7.02 percent the previous week.

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Appraisal Contracts Real Estate Agent Mortgage 75