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Anxiety grips LOs as layoffs sweep the industry

Housing Wire

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

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How LOs are dealing with an explosion of activity in NYC’s suburbs

Housing Wire

Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City.

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Redfin: Selling your home? List it midweek

Housing Wire

That’s especially important during the pandemic, when it’s more likely that buyers and their agents are required to book individual appointments to tour homes, she said. “And listing on a Sunday or Monday means buyers may lose interest before the following weekend,” Fairweather said.

Sellers 404
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Down payment assistance programs are a boon amid mounting pressure on homebuyer affordability

Housing Wire

The DPA share in FHA’s total book of business, including refinances, was 27% as of October 2023. It’s the first-time buyers who are taking advantage of DPAs for FHA loans, said Miki Adams, president of CBC Mortgage Agency , a federally chartered housing finance agency.

Mortgage 438
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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

In November, Interfirst issued pink slips to hundreds of non-commissioned loan officers at its call centers in Charlotte, North Carolina and Rosemont, Illinois, according to WARN notices in both states. billion in mortgages between June 2020 and June 2021 and was actively recruiting new loan officers and support staff.

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NAR Appraiser Survey July, 2023

Appraisal Today

May a representative of the lender provide an appraisal management company a list or a panel of appraisers to use for loans involving a specified mortgage broker, real estate agent, or loan officer? This typically happens when an appraiser turns in an appraisal with an appraised value opinion lower than the sale contract price.

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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

The mortgage loan officer handling the loan? Motivational books and recordings help you stay up when business is stressful. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.18 Was it the borrower? A Zillow Zestimate?