Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

Inventory 397

Inventory Marketing Business Buyers 397

Housing Wire

SEPTEMBER 11, 2023

To get there, Cliffco, which has been in business since 1987, is going after the non-qualified mortgage ( non-QM ) market and investing in tech to get in front of buyers and non-agent referral partners. Non-QM ripe for the taking Faced with a lack of inventory across the country, lenders have been exploring ways to create new buyers.

Loan Officers 397

Loan Officers Agents Retail Technology 397

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. First, he has his clients lender call the listing agent. This, however, doesn’t stop VA buyers from submitting an offer on the home. “We

Clients 397

Clients Agents Buyers Sellers 397

Housing Wire

SEPTEMBER 30, 2022

An LO in the Miami, Florida area told HousingWire that on a $400,000 home purchase, with 5% down, a 700 FICO score, his clients are being quoted 7% for conventional loans and 6.125% on FHA and VA mortgages. There is more inventory relative to demand, and deals can be found. This will be a time of changes,” he said.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. Mark Glebman, Caliber Home Loans. Housing prices started to inch down in July, but were still 14.5%

Mortgage 384

Mortgage Loan Officers Inventory Retail 384

Housing Wire

SEPTEMBER 22, 2022

from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation. months to exhaust the current inventory of existing homes at last month’s sales pace. Mortgage rates have nearly doubled to around 6.5% in 2023. “The

Mortgage 421

Mortgage Loan Officers Buyers Inventory 421

Housing Wire

MARCH 6, 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. The pendulum hasn’t swung back to where buyers are asking 10, 15, 20% lower than what listings are for.”

Loan Officers 384

Loan Officers Inventory Real Estate Agent Buyers 384

Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. Buyers seem like they can’t get a break,” Kechian said. “I I really think they had about three months last year where it was a buyers market in the fourth quarter.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Half the clients go to the traditional banks where we can show tax returns. Cohen funded $751.4

Marketing 384

Marketing Mortgage Inventory Loan Officers 384

Housing Wire

APRIL 16, 2024

To get a better idea of the dynamics driving this data, RMD spoke with Jon McCue, RMI’s director of client relations, for additional perspective and a breakdown of why business moved this way. It’s because of the hard work of all the professionals in this space working very hard to help their clients.”

Retail 418

Retail Mortgage Business Loan Officers 418

Housing Wire

FEBRUARY 7, 2023

And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate.

Mortgage 384

Mortgage Loan Officers Government Buyers 384

Housing Wire

MAY 20, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. This rapid increase in prices, coupled with local housing inventory dropping over 50% in 2021, has meant times are tough for buyers looking to settle in Bluffton. Bluffton, South Carolina.

Housing Market 410

Housing Market Marketing Real Estate Agent Real Estate 410

Housing Wire

MARCH 2, 2023

Lower mortgage rates back in January brought buyers back into the market. Now that rates are moving up, affordability is hindered and making it difficult for potential buyers to act, particularly for repeat buyers with existing mortgages at less than half of current rates,” he said.

Mortgage 441

Mortgage Buyers Loan Officers Marketing 441

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. There’s still demand for homes, loan officers told HousingWire. “I

Housing Market 421

Housing Market Marketing Loan Officers Mortgage 421

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based We also find that FHA mortgages serve minority clients in a higher percentage than conventional mortgages for lower credit scores.

Loan Officers 370

Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

APRIL 20, 2021

More recently, the buzz surrounds bidding wars due to extremely low inventory, purchase over refinance and the fluctuation of mortgage rates. The more you leverage your own data the better off your agents or loan officers will be because they’ll be able to identify, target and create better customer experiences.

Real Estate 410

Real Estate Mortgage Loan Officers Advertising 410

Appraisal Buzz

OCTOBER 3, 2022

I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term.

Appraisal 370

Appraisal Marketing Real Estate Inventory 370

Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . “I recently sold a home in Austin that was listed at $565,000 and closed at $715,000,” Dawson said.

Marketing 496

Marketing Sellers Finance Loan Officers 496

Housing Wire

APRIL 29, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. With inventory remaining tight and demand still strong, Davis only sees this trend increasing as we get further into spring. Conway, Arkansas. Rochester, New York.

Housing Market 384

Housing Market Marketing Agents Real Estate 384

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Brown anticipates more consolidation in the industry on the mortgage production side, as “there’s less than one loan being done by a loan officer per month on average,” he said.

Housing Market 450

Housing Market Marketing Insurance Mortgage 450

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2 Financial advisors?

Business 410

Business Loan Officers Clients Inventory 410

Housing Wire

SEPTEMBER 22, 2023

But somebody has to replace the Fed, and the Fed is not an economic buyer. So they are a policy buyer. They may require wider spreads than the Fed because the Fed is not an economic buyer. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time.

Housing Market 450

Housing Market Marketing Buyers Investors 450

Housing Wire

JUNE 17, 2022

It’s a tough time to be a loan officer. Refinance activity is gone, housing inventory continues to be at record lows and interest rates remain on the rise. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. There are thousands of loan officers out there.

Loan Officers 409

Loan Officers Business Clients Training 409

Housing Wire

JULY 25, 2022

Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. While Nourmand said most of his clients have been local Californians, he has worked with a few Floridians and New Yorkers. “We Rapid City, South Dakota. Rapid City, South Dakota.

Housing Market 370

Housing Market Marketing Real Estate Real Estate Agent 370

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. I remember loan officers telling me that I needed to be “creative” with my appraisals. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Cornerstone

MARCH 12, 2021

Even in a typical year, you can expect clients to ask routine questions — and you’ll give them routine answers back. With so many changes taking place related to the pandemic, the economy, and the political sphere, your clients are going to come to you with complex questions. 4 smart answers to your clients’ top 4 questions.

Clients 62

Clients Sellers Loan Officers Real Estate 62

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. billion of unutilized loan funding capacity as of Dec. The closer, the better. in consumer direct and 2.3%

Mortgage 522

Mortgage Marketing Retail Lending 522

Housing Wire

JUNE 15, 2022

. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . Some buyers who couldn’t qualify for a conventional mortgage turned to an ARM to make lower monthly payments. It’s not a bad thing for borrowers, lenders, and loan investors.

Mortgage 370

Mortgage Bracketing Loan Officers Investors 370

Housing Wire

MAY 12, 2022

Inventory is contracting. But it’s also possible for a homebuyer to apply and receive approval on a mortgage loan without them ever actually speaking with another human. Rate increases, declining inventory and fewer customers test lenders’ resilience and sustainability as well as their ability to cater to the customers they do have.

Lending 370

Lending Marketing Technology Contracts 370

Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. You have all these buyers that have been waiting for rates to come back and now they’re back and all this becomes really competitive again.”

Mortgage 450

Mortgage Loan Officers Inventory Business 450

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Business 432

Business Mortgage Loan Officers Inventory 432

Housing Wire

JUNE 15, 2022

Lenders, loan officers and economists who spoke to HousingWire this week said that the current volatility in the markets will reduce originations even further in 2022, bringing additional rounds of layoffs. Cohn said she has three or four loans with clients who haven’t locked rates yet. “I More layoffs to come.

Mortgage 384

Mortgage Investors Clients Marketing 384

Realtor

OCTOBER 16, 2023

for first-time buyers is $12,274 (around 6%), in addition to $1,983 in closing costs. “Buyers may not be able to even see a home without providing a copy of their pre-approval letter just to schedule an appointment,” says Ameer. down,” says Yifan Zhang , CEO of the host-to-own homebuying program Loftium.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Eppraisal

APRIL 20, 2021

Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. A full pre-approval is when a mortgage loan officer pulls your credit, verifies your employment and income, has your complete application and has all the required documents from you.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

Housing Wire

AUGUST 23, 2023

Rates at the 7% or 8% level could spur a reduction in home prices, but current inventory issues have limited this impact. Inventory remains thin. Altos Research shows that single-family inventory rose to 496,541 on August 18 from 492,140 on August 11. Inventory this past week last year was above 550,000 homes.

Mortgage 370

Mortgage Loan Officers Inventory Housing Market 370

Housing Wire

MAY 10, 2023

For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity. There’s still plenty of money and demand emanating from New York City and Philadelphia and very little inventory. I mean very little inventory.

Loan Officers 384

Loan Officers Marketing Inventory Real Estate Agent 384