2023 Contracts Inventory Loan Officers 
Housing Wire
MARCH 5, 2024
“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. What I tell all loan officers, no matter who I talk to, is that there’s no foreclosure crisis coming on the horizon,” Saghafi said.
Housing Wire
JUNE 5, 2023
As with the rest of the country, the Chicago-area market is dealing with issues stemming from a lack of inventory , and until rates decline, it’s the first-time buyers that Lotsoff and Brok are primarily targeting for volume. Revolution, on the other hand, has been expanding its footprint by scooping up top loan officers in local markets.
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Housing Wire
APRIL 26, 2023
Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. Meanwhile, the peak for 2023 so far is 472,680.
Housing Wire
OCTOBER 5, 2023
The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. That offering, Unlock HEA Trust 2023-1, is slated to close this week. The 5% overall increase in home prices since February [2023] means that the average U.S.
Housing Wire
JUNE 2, 2023
The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? I think 2022 and 2023 are equally tough years.
Housing Wire
JUNE 15, 2022
The lender expects to turn a profit this year by reducing costs upwards of 30% through a renegotiation of worker contracts, but not through layoffs. trillion in 2023. Instead of getting maximum financing (between 75%-80% loan to value), they are now putting much more down (between 35-50%),” he said. More layoffs to come.
Housing Wire
JULY 25, 2023
Loan officers — myself included — need to strengthen their mindset. MW: As far as the inventory levels go, this is something that I’ve been focusing on and specializing in for years. When you look at a sales contract that is obtaining mortgage financing, 70% of the components of that offer are mortgage-related.
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