Remove 2023 Remove Inventory Remove Loan Officers Remove Real Estate Agent
article thumbnail

How Andrew Marquis plans to close more loans in a low-inventory market  

Housing Wire

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. The inventory put a cap on how much business Marquis’ team can do, which is one of the reasons why Marquis is now licensed in 22 states. In our market here in Boston, we have incredibly low inventory.

Inventory 382
article thumbnail

Here’s how wholesale lenders and brokers are navigating near-8% mortgage rates

Housing Wire

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans.

Mortgage 464
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How top LOs plan to beat the odds in 2023

Housing Wire

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory. Adjusting to a “new normal”.

article thumbnail

New American Funding cofounders talk expansion, prospects for 2023

Housing Wire

When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. Read on to learn more about New American Funding’s business model of outside distributed retail, their in-house tech stack rebuild, its expansions plans and prospects in 2023. Is NAF done rightsizing?

Retail 358
article thumbnail

Guaranteed Rate’s Larry Steinway makes the jump to Revolution Mortgage

Housing Wire

Steinway is the sole loan officer in his branch and is supported by the rest of his five team members, who primarily focus on marketing its realtor relationships. Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023. It’s the local relationships.

Mortgage 369
article thumbnail

How Rocket Pro TPO plans to court more brokers in 2024 

Housing Wire

Rocket Pro TPO affirmed that it will continue to provide credit reports at no cost for brokers when closing loans through Rocket recognizing that credit report fees are going to get more expensive this year. That price is higher than it was in 2023.

article thumbnail

How loan officers are dealing with surging rates and record-low inventory 

Housing Wire

He was cautiously optimistic for a better 2023. The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. of loans in October, according to the MBA. For the week ending Feb.