Remove 2023 Remove Development Remove Inventory Remove Loan Officers
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New American Funding onboards top Chicago loan officer 

Housing Wire

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

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FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Housing Wire

Department of Housing and Urban Development ( HUD ) called FHA Connection, a database used to insure and generate FHA case numbers associated with the borrower’s home loan application. When the borrower is denied for an FHA mortgage loan, an MCR report had to be created for that denial.

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Are reverse mortgages for purchase a ‘sleeping giant?’ Pros are split

Housing Wire

Department of Housing and Urban Development (HUD), the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program saw its share of total HECM endorsements in 2023 rise to its highest level since 2019. The inventory is so low, so people are wanting to figure out how they can move into a home.”

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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. Were there additional layoffs in 2023? But there have been rough points for the lender recently, too.

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The next refi boom’s double-edged sword: EPOs

Housing Wire

After two of the most challenging years in recent history, economists and analysts project a shift in the mortgage market toward the end of 2023, Hoff said. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. Meanwhile, economists at Fannie Mae expect rates to end 2023 at 6.7%

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Ex-Wyndham Capital Mortgage exec launches Cornerstone Home Loans 

Housing Wire

I developed a ton of great relationships over that time there. My perspective is, you need to have companies that are willing to open up that credit risk profile in order to help your loan officers bring in volume. In a market where every loan counts, that’s a great resource for loan officers to have those outlets.

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Home equity products light up a dark housing market

Housing Wire

That offering, Unlock HEA Trust 2023-1, is slated to close this week. trillion, which is near 2022 peaks, according to Black Knight ’s August 2023 Mortgage Monitor report “Generally, if there is increasing home prices [as has been the case], we see an increase in home equity,” said Selma Hepp, CoreLogic’s chief economist. “So,