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Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

Ohio-headquartered Commitment Mortgage aims to leverage more than 600 Indiana real estate agents at Carpenter’s. The goal is to help home buyers search for homes and then capitalize on loan offerings, the lender said in a release. According to the NMLS , Commitment Mortgage has four sponsored MLOs.

Lending 370
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New American Funding enters the joint ventures space

Housing Wire

At a mortgage brokerage joint venture, loan officers generally get paid a lower base salary than counterparts at traditional lenders and may get a smaller commission because the LO is doing less work finding customers since there are greater real estate agent referrals. The California lender originated $15.12

Brokerage 381
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New American Funding cofounders talk expansion, prospects for 2023

Housing Wire

Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house. Now that the market has turned, do you see any challenges for your purchase call center agents ?

Retail 370
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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. The mortgage loan officer handling the loan? It initially began as a test program in the early 2000s and was expanded to all areas of the country in 2003, as a result of VA Circular 26-03-11.

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ChatGPT for Appraisers

Appraisal Today

Built in 2003, the Mediterranean style primary residence totals 4, 050 sq. As I talk with appraiser colleagues and real estate agents, I’m hearing this sentiment quite a bit. I have not had time to use it, but have been reading and watching demos about how it can be used for appraisers for awhile. And I feel it myself.