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How JVM Lending plans to expand without any loan originators

Housing Wire

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 361
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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 498
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Will a Part-Time Real Estate Agent Salary Be Enough for You?

McKissock

Becoming a real estate agent requires a giant leap of faith and an investment of time and money. That’s why some agents may choose to test the waters with a part-time real estate position while hanging onto a steady income from another job. How much is a part-time real estate agent salary?

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DataDigest: Goldilocks and the big IMBs

Housing Wire

The speed of the rate hikes has shrunk gain-on-sale margins because mortgage companies haven’t contracted quickly enough to offset falling demand. Meanwhile, executives at UWM’s biggest rival, Rocket Mortgage, told analysts that its local loan officer recruiting initiative doesn’t represent a mortgage strategy change.

Retail 325
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NAR Appraiser Survey July, 2023

Appraisal Today

Appraisers are less likely this year to cite expanding regulations/interpretations of regulations, lender requirements, pressure from real estate agents/brokers, and liability concerns. From Dave Towne: Over the years, many appraisers have reported being blacklisted by real estate agents and even mortgage brokers.

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How top LO Thuan Nguyen plans to grow his business in 2023

Housing Wire

He built features that cater to realtors’ needs – such as weekly updates on the housing market, daily alerts of mortgage rates and keeping real estate agents informed of borrowers’ pre-approval status. I have about five loan officers helping me, and I have more than 30 processors and assistants helping me.

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ChatGPT for Appraisers

Appraisal Today

As I talk with appraiser colleagues and real estate agents, I’m hearing this sentiment quite a bit. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.09 from 0.58 (including the origination fee) for 80 percent LTV loans.