Housing Wire

JANUARY 19, 2023

The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex. The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans.

Mortgage 397

Mortgage Investors Legal Loan Officers 397

Housing Wire

MARCH 1, 2021

In 2006, loan officers were collecting record paydays by issuing mortgages to anyone with a pulse and a dream, underwriters were in high demand, and an army of processors were hired to help make it all happen. Not that many Americans were looking for mortgages between 2008 and 2009 anyway. Live by the sword, die by the sword.

Mortgage 268

Mortgage Loan Officers Retail Business 268

Miller Samuel

FEBRUARY 12, 2019

The 10-year Challenge (2009 vs. 2019). Some analysts are even comparing the current cycle to the last downturn and the housing bubble in 2009, but Miller outlined quite a few differences between then and now. In 2009, the average discount from listing was 10.2%. And, in-turn, when the market falls, it will fall forever.

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Housing Wire

JANUARY 31, 2023

When loan officers don’t have refinance business, half of their businesses are gone. You now have as many loan officers as you had before fighting for 30% of the overall business. I pivoted to that strategy in like 2009. The inventory puts a cap on how much business we can do.

Inventory 353

Inventory Marketing Business Buyers 353

Housing Wire

MARCH 27, 2023

The North Carolina-based First Citizens announced on Monday an agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire all of SVB’s deposits and loans that were moved to an FDIC-created bridge bank after the collapse. “We of the production was conventional loans and 49% consisted of purchase loans.

Insurance 77

Insurance Loan Officers Mortgage Clients 77

Housing Wire

APRIL 15, 2024

Humble beginnings Schmidt was working as a restaurant manager in the late 2000s, and in 2009 he caught wind of a potential opportunity from one of his employees. One of my employees said that her mother worked in doing some type of loans,” Schmidt said. “I I didn’t even know much about mortgages at the time; I was much younger.

Mortgage 411

Mortgage Loan Officers Business Finance 411

Housing Wire

DECEMBER 27, 2022

In addition, FHA’s early-payment default (EPD) rate, a measure of loans that become seriously delinquent within the first six months of the mortgage, also has been rising this year and is at its highest level since 2009, according to the most recent Black Knight Mortgage Monitor report.

Insurance 479

Insurance Home Value Mortgage Marketing 479

Housing Wire

JANUARY 27, 2023

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. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 386

Lending Real Estate Agent Loan Officers Retail 386

Housing Wire

JANUARY 17, 2024

Our thoughts and prayers are with Mary, his children, and the rest of his family.” A fierce advocate for the industry, Stevens became a loan officer in 1983 in Colorado, rising through the ranks of World Savings during a 16-year tenure. He added: “MBA and the entire industry will miss Dave’s voice, leadership, and friendship.

Finance 471

Finance Loan Officers Real Estate Development 471

Will Springer Realtor

AUGUST 1, 2023

Short sales were a common sight in the housing recession around 2009 but they have since faded from the headlines as homeowners typically find buyers before facing financial doom. In addition to the homeowner, only licensed lawyers, loan officers and real estate brokers can conduct a short-sale negotiation. What is a short sale?

Sellers 36

Sellers Buyers Real Estate Legal 36

AmeriMac

SEPTEMBER 1, 2021

In 2009, Freddie Mac and Fannie Mae, government housing lending institutions, the Federal Housing Finance Agency (FHFA) and the New York Attorney General got together to create the Home Valuation Code of Conduct (HVCC). None of the key parties can select the appraiser—including the loan officer, mortgage broker, or homeowner.

Appraisal 36

Appraisal Valuation Law Lending 36

Housing Wire

AUGUST 24, 2023

“​​With an ongoing tight supply of existing homes for sale and the recent rise in the 30-year fixed-rate mortgage rate to around 7%, we expect home sales in 2023 to remain near the lowest annual level since 2009,” the group said. Total existing home sales fell 2.2% in July from June to a seasonally adjusted annual rate of 4.07 down from 4.88

Construction 277

Construction Retail Mortgage Contracts 277

AmeriMac

MARCH 15, 2024

One of the key regulatory changes was the implementation of the Home Valuation Code of Conduct (HVCC) in 2009. Loan officers can focus on other aspects of the loan origination process, knowing that the appraisal process is being handled by qualified professionals.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

Assurance Financial

JANUARY 3, 2022

For example, in the great financial crisis of 2008 and 2009, there was a 120% increase in foreclosures from the previous years, and many second-position lenders didn’t get paid in foreclosures. Our in-house loan officers will work with you to underwrite your loan. Banks may not be willing to take up this kind of risk.

Mortgage 69

Mortgage Finance Loan Officers Law 69

Housing Wire

NOVEMBER 5, 2020

When the talk was to get rid of mortgage brokers after the financial crisis, we testified on Capitol Hill, and when COVID first hit, we were first out of the gate because we didn’t want to see a repeat of what happened in 2008-2009. We worked right away to protect credit reporting.

Mortgage 458

Mortgage Loan Officers Tools Training 458