Housing Wire

JANUARY 18, 2023

The brutal low origination volume and industry consolidation that occurred for lenders in 2022 isn’t expected to turn around, at least not drastically, in 2023, according to Fitch Ratings. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

Housing Market 411

Housing Market Marketing Insurance Mortgage 411

Housing Wire

FEBRUARY 28, 2024

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. Sellers can receive a 1% real estate agent commission reduction when selling with a Newzip-affiliated agent. Compared to 2022, production was down 46%.

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Real Estate Agent Real Estate Agents Loan Officers 375

Housing Wire

APRIL 1, 2024

In October 2023, the firm — which is known for its “buy before you sell” product that enables a mortgage lender to treat the client’s current home as sold while giving them the ability to sell their home on the open market for up to 90 days after buying their new property — launched a partner channel.

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Housing Wire

APRIL 30, 2024

In a low-volume mortgage origination market, some sellers “don’t have the balance sheet or their owners are not interested in legacy and continuity,” which is a different model than Lower’s, Snyder said. Founded in Denver in 1981, Universal added 60 loan officers to Lower.

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Retail Loan Officers Lending Mortgage 367

Housing Wire

NOVEMBER 23, 2022

What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately. in the second year.

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Buyers Marketing Sellers Loan Officers 463

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” Mortgage-origination volume between 2021 and yearend 2023, however, is projected to drop 63% — from $4.44 trillion to $1.64

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Mortgage Loan Officers Finance Buyers 431

Housing Wire

JULY 25, 2023

Loan officers — myself included — need to strengthen their mindset. For example, there are timelines within a sales contract that are directly tied to how fast a lender or a loan originator can deliver on those timelines. For 2023, we feel that we are going to end the year very strong.

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Real Estate Agent Mortgage Real Estate Training 249

Housing Wire

MARCH 8, 2023

However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. In addition, loan officers said that investors took advantage of a slower market. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. from the week prior.

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Mortgage Loan Officers Investors Government 357

Housing Wire

JANUARY 4, 2023

With a focus on purchase mortgages through referral sources, Reich aims to close $1 billion in loan origination volume in 2023 through his division alone. In addition to offering borrowers FHA loans, conventional purchase mortgages and refis, the lender specializes in retail channel construction loans, according to the firm.

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Retail Mortgage Construction Loan Officers 457

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

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Mortgage Loan Officers Inventory Business 439

Housing Wire

DECEMBER 27, 2023

United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. The company hopes to reach its goal by growing organically with more loan officers under a dozen business development managers. By the same measure, Guild had just 1.1% exits and 3.2%

Mortgage 366

Mortgage Retail Lending Sellers 366

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. according to the company.

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Real Estate Agent Loan Officers Real Estate Agents 403

Housing Wire

DECEMBER 16, 2022

Mortgage rates have doubled, and homebuyers are acting as if every seller has the plague. Most industry experts predict mortgage rates will be back down around 5.25% in 2023 after peaking at 7.25% in 2022. Homebuyers are projected to start hopping off the fence as early as spring 2023. This will pass. We keep our heads down.

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Mortgage Loan Officers Training Housing Market 372

Housing Wire

NOVEMBER 7, 2023

Of the $400 billion mortgage origination volume in the second quarter of 2023, FHA and VA share of loan volume consisted of 22.9%, up from 18% in Q2 2022, data from Inside Mortgage Finance (IMF) and the Urban Institute showed. It was through seller incentives that loan originator Ryan Grant helped his FHA borrower buy down 3.5

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Agents Sellers Buyers Finance 438

Housing Wire

APRIL 1, 2024

” “In November 2023, Mr. Grella requested and agreed with NEXA to a buyout of his membership interest in NEXA and its subsidiary companies, which include the ongoing aviation business that Mr. Grella was also approved of which NEXA currently leases an aircraft hangar ,” Kortas said. of the company and Grella had a 49.5%

Brokerage 334

Brokerage Business Loan Officers Legal 334

Housing Wire

FEBRUARY 15, 2024

On FHA endorsements for home purchase financing, approximately 40% included down payment assistance in both 2022 and 2023, while the share was roughly 30% in 2021. The DPA share in FHA’s total book of business, including refinances, was 27% as of October 2023.

Mortgage 438

Mortgage Buyers Loan Officers Sellers 438

Housing Wire

APRIL 16, 2024

That’s because those were the two lowest case number assignment months in all of 2023, McCue said. Case numbers, product types In terms of case numbers, the low-issuance months at the end of 2023 served as a bit of a telegraph, McCue noted. With that said, you shouldn’t be too surprised to see endorsements fall off in February.

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Retail Mortgage Business Loan Officers 307

Housing Wire

SEPTEMBER 22, 2022

Goldman Sachs predicts a 75 bps hike at the November meeting followed by a 50 bps raise in December and a 25 bps increase in January 2023. Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment. According to the NAR, there were 1.28

Mortgage 401

Mortgage Loan Officers Buyers Inventory 401

Housing Wire

JANUARY 31, 2023

. “I didn’t want to just jump for money,” Miller said, noting that some lenders with lower rates have complexities of putting together a loan — and transferring over existing clients’ loans is a different process for every company. Loan officers who were part of those branches were brought over, he said.

Mortgage 361

Mortgage Loan Officers Retail Finance 361

Housing Wire

MAY 29, 2024

‘Flying under the radar’ Based on public data from Affirm — a market leader in the BNPL space — Wells Fargo economists Tim Quinlan and Shannon Seery Grein estimate that BNPL providers originated $46 billion in loans in 2023. It found 180 million BNPL loans originated that year for a total of $24.2 are examples.

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Mortgage Clients Sellers Loan Officers 348

Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. The survey results had a comparison of 2022 and 2023, which was very interesting. Updates to AIR and these FAQs were published in August 2023.

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Appraisal Real Estate Agent Contracts Real Estate 82

Housing Wire

DECEMBER 27, 2022

And, the market looks likely to remain frozen well into 2023, experts told HousingWire. Thanks to the Federal Reserve’s benchmark rate being near zero for two full years and generating record-low mortgage rates, a tiny minority of homeowners now have an incentive to refinance at all in 2023. Or will soon.

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Housing Market Marketing Real Estate Agent Real Estate 491

Housing Wire

FEBRUARY 10, 2023

Beret Kechian, loanDepot ’s top producer and branch manager, is joining a slew of mortgage loan originators who are cautiously optimistic about the mortgage landscape in 2023. Literally, we’re right back to being a seller’s market again.” We’ve been advising them how to use it with the sellers.

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Marketing Inventory Loan Officers Buyers 350

Housing Wire

SEPTEMBER 26, 2023

The API, which utilizes Loan Product Advisor (LPA) AIM independent of an LPA submission, enables Freddie Mac-approved sellers and third-party originators to get a preliminary view of a borrower’s qualifying asset, income and employment before submitting a full application to LPA. million in Q1 and $45.1 million in Q2 2022.

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Mortgage Tools Sellers Loan Officers 305

Housing Wire

SEPTEMBER 30, 2022

Lenders will close and some others will need to merge because of the new liquidity regulations that are coming in 2023.”. Pressure on rates has sharply reduced demand for mortgage loans, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume , declined 3.7%

Buyers 449

Buyers Mortgage Loan Officers Retail 449

Housing Wire

JANUARY 31, 2023

His goal is to bring his sales numbers up to $450 to $500 million, with origination coming from different states, and potentially capitalizing on a little refinance boom in the latter part of 2023. I can’t tell that seller, ‘I’ll buy your house contingent on me selling mine.’ Kim: What are your sales goals for 2023?

Inventory 319

Inventory Marketing Business Buyers 319

Housing Wire

JULY 19, 2023

The pace of M&A deals in the IMB market in 2022 and projected for 2023 combined is expected to be more than double the mark set during the unicorn lending years of 2020 and 2021, according to one recent industry analysis. As the heat rises, so too does the number of lenders seeking to exit the market.

Mortgage 366

Mortgage Marketing Buyers Lending 366

Housing Wire

AUGUST 31, 2023

And as a loan officer (LO), why should I care? A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. Again, Fannie Mae followed suit, launching Value Acceptance + Property Data in April 2023. How do the solutions work? Why do we need them?

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Modernization Appraisal Inspection Valuation 329

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Mortgage 385

Mortgage Loan Officers Finance Investors 385

Housing Wire

DECEMBER 11, 2023

When rates go down by a point, people sit on the sidelines because the consumers and the sellers want to know what the market is going to be when they sell the house. trillion as of Q3 2023, nearing its 2022 peak. “We’ve All eyes will be on the CPI report and Fed meeting this week.

Mortgage 450

Mortgage Buyers Inventory Technology 450

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. 1 retail purchase lender, excluding correspondent, in the nation by 2023. The closer, the better. year-over-year.

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Mortgage Marketing Retail Lending 519

Lamacchia Realty

JANUARY 23, 2023

Another important first-time home buyer step is seeking pre-approval from a lender for a home loan. This is when you will meet a loan officer from various mortgage companies. Once you’ve found your dream home, it will be time to make an offer to the seller. Step 3: Get pre-approved for a mortgage.

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Real Estate Agent Inspection Realty Real Estate 72

Appraisal Today

AUGUST 13, 2023

I have written about it before in these email newsletters. == New in the August 2023 issue of Appraisal Today Annual E&O/Liability Issue E&O Insurance Update 2023 – Claims, Disclaimers, Discrimination, etc 2023 E&O Insurance – Where to get, what to look for in a policy, etc. Click here for more info!

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Appraisal Contracts Real Estate Agent Mortgage 75

Appraisal Today

JANUARY 12, 2024

Ignoring market conditions adjustments makes us look incompetent to buyers, sellers, lenders, Realtors, and the general public. over the course of 2024, declining from the 2023 average of 6.9%. The small rate declines expected will aid affordability to a minor degree after the surge in housing costs for buyers in 2022–2023.

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Appraisal Contracts Mortgage Marketing 67