Remove 2007 Remove Clients Remove Lending Remove Loan Officers
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The Similarities Between 2007 and Today

Appraisal Buzz

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up.

Appraisal 418
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How LOs are dealing with a mortgage rate lockdown

Housing Wire

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 381
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HW+ Member Spotlight: Reina Ramos

Housing Wire

She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. Lenders need to be mindful that clients don’t purchase homes often and using acronyms to describe the program, terms or process can create confusion.

Inventory 382
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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

Brown anticipates more consolidation in the industry on the mortgage production side, as “there’s less than one loan being done by a loan officer per month on average,” he said. Inflationary uncertainty and a deceleration in housing prices portend a deterioration in environmental conditions in the U.S.

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Non-QM lenders are back. But will brokers pick up the phone?

Housing Wire

At that point, Dodson was actively working on a jumbo loan for friends of his from church. “I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said. And non-QM loans in my experience are harder.”.

Business 424
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How JVM Lending plans to expand without any loan originators

Housing Wire

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. 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.

Lending 379
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Understanding the Role of an Appraisal Management Company

AmeriMac

Appraisal Management Companies (AMCs) play a crucial role in the real estate industry by providing independent appraisal services to lenders and other clients. The concept of AMCs was developed in the 1970s but didn’t gain widespread use until after the financial crisis in 2007-2008.