Housing Wire

NOVEMBER 18, 2022

This week, American Financing Corporation reduced employee headcount by almost two thirds and power buyer Homeward slashed 25% of its workforce as the companies faced headwinds. Aurora, Colorado-based American Financing Corporation has started to layoff 63.6% American Financing Corporation originated $4.13

Loan Officers 413

Loan Officers Modernization Finance Housing Market 413

Housing Wire

SEPTEMBER 22, 2022

With the new mortgage program, customers receive loan estimates and closing disclosures in Spanish as well as a real-time digital version they can save. The new program and tool launches come as potential Hispanic home buyers face a tight housing market with historic low level of supply for affordable homes. billion in loans.

Marketing 369

Marketing Tools Loan Officers Finance 369

Housing Wire

FEBRUARY 24, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors in all things related to mortgage, insurance, moving, renovating and new home transitioning.

Real Estate Agent 340

Real Estate Agent Real Estate Agents Loan Officers 340

Housing Wire

JANUARY 4, 2023

The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week. For jumbo loans (greater than $647,200), rates remained at 6.12%. ” The expectation is that refis will go down even further this year. ”

Mortgage 523

Mortgage Loan Officers Insurance Investors 523

Housing Wire

NOVEMBER 8, 2021

“This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. Even under “normal” market conditions, VA buyers struggle to successfully purchase a home using their benefit.

Clients 393

Clients Agents Buyers Sellers 393

Housing Wire

DECEMBER 22, 2020

They’ll need a small amount of information about your income and finances, and if all looks good, they’ll give you a preapproval letter stating how much money you can likely borrow. You can offer more if you’re looking to get a leg up over other buyers. You’ll submit this with any offers you put in. You’re not alone.

Mortgage 414

Mortgage Property Taxes Loan Officers Sellers 414

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. Jumbo loan volume increased 3.1% At Finance of America , reverse mortgages have been a ??

Mortgage 393

Mortgage Loan Officers Finance Investors 393

Realtor

OCTOBER 16, 2023

for first-time buyers is $12,274 (around 6%), in addition to $1,983 in closing costs. ” However, keep in mind that you will have to pay private mortgage insurance if you put less than 20% down, which increases your monthly payments. Pre-approval is better because it means lenders have reviewed your finances. ” 5. .

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Housing Wire

SEPTEMBER 5, 2023

TB: It seems like each mortgage process should be relatively standardized because we’re manufacturing loans — the vast majority of which will be purchased by the two GSEs or insured by FHA , VA or USDA. How are lenders helping borrowers take advantage of loan product innovation and affordable housing initiatives?

Technology 385

Technology Mortgage Tools Insurance 385

PennyMac

MARCH 4, 2024

Purchasing a home is a big step, and you want a knowledgeable lending partner by your side as you weigh your financing options and navigate the paperwork involved. Down Payment and Mortgage Insurance Most, but not all, home loans will require a down payment.

Loan Officers 65

Loan Officers Insurance Mortgage Sellers 65

Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%.

Real Estate Agent 452

Real Estate Agent Loan Officers Real Estate Agents 452

PennyMac

FEBRUARY 13, 2024

In a standard home purchase scenario, prospective homebuyers apply with a lender to obtain conventional financing to get the new home on their wishlist. Did you know, however, that there may be another financing option that could possibly benefit both the buyer and the seller under the right circumstances?

Mortgage 53

Mortgage Sellers Buyers Finance 53

East Coast Appraisal

SEPTEMBER 12, 2022

Private mortgage insurance, or PMI, allows lenders to offer home loans to buyers without the traditional 20 percent down payment. This insurance covers the risk of financing a mortgage with less equity from the buyer. Should a buyer fail to make payments later on, PMI helps the lender recover its losses.

Appraisal 52

Appraisal Renovations Insurance Home Value 52

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. “So, it’s helped first-time homebuyers who are competing against all-cash buyers or corporate buyers.”

Mortgage 382

Mortgage Investors Clients Marketing 382

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 423

Business Mortgage Loan Officers Inventory 423

Housing Wire

MAY 6, 2024

Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer. Technological connectivity The new generation of buyers is going all in on technology.

Real Estate Agent 358

Real Estate Agent Real Estate Project Management Agents 358

Housing Wire

MARCH 30, 2022

The title insurance space isn’t generally known for placing outsized bets on technology. Paul Hurst: In my new role, I’m responsible for evaluating – together with our business units – the most promising new spaces for innovation within the real estate and mortgage finance ecosystem. As of Sept.

Mortgage 368

Mortgage Real Estate Investing Technology 368

Appraisal Today

MAY 10, 2024

These policies were the result of a collaborative effort between the GSEs, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). The mortgage loan officer handling the loan? If buyers cannot get insurance or it is very expensive, it will affect value.

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

Miller Samuel

FEBRUARY 12, 2019

In ’09, Miller said sellers were anchored to the “pre-Lehman, pre-financial crisis asking prices” and had to travel farther on price to meet a buyer. Miller said there are more buyers today compared to 2009, but those buyers are “very jaded about what value is.” That process can take time. “If

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Assurance Financial

APRIL 29, 2021

Earnest money is a portion of the sale price of the home that a buyer pays upfront, after the seller accepts their offer. The deposit shows that a buyer is serious and allows the seller to take the home off the market. If the buyer backs out of the sale, the seller gets to keep the earnest money. Homeowners Insurance.

Mortgage 69

Mortgage Insurance Sellers Inspection 69

PennyMac

JULY 25, 2022

What’s the difference between FHA and conventional loan options? Conventional Loan. Conventional loans by definition are loans that are not backed or insured by any government entity. In a conventional loan, you’ll be expected to pay at least 3% of the total loan as the down payment.

Insurance 36

Insurance Government Investing Mortgage 36

McKissock

APRIL 20, 2021

Meet with/learn from service providers such as loan officers, title companies, attorneys, home warranty, and insurance companies. Refer buyers and sellers out to other agents locally and across the country. Receive basic training in contracts and how to price properties using comparative marketing analysis.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Realtors 98

Housing Wire

OCTOBER 1, 2022

The DOJ said that all of Lakeland’s branches were located in majority-white neighborhoods and that its loan officers did not serve the credit needs of Black and Hispanic neighborhoods in and around Newark. Lakeland, a community bank, operates 68 branches in northern New Jersey and in New York’s Hudson Valley.

Law 403

Law Loan Officers Lending Advertising 403

Assurance Financial

DECEMBER 20, 2021

According to Freddie Mac, almost 90% of American homeowners finance their homes with a 30-year mortgage. To pay for the rest of the mortgage, the closing manager sets up an escrow account into which the buyer will deposit their payment. Waiting for the right buyer while paying for two properties can be a lot to handle.

Mortgage 74

Mortgage Sellers Buyers Finance 74

PennyMac

SEPTEMBER 9, 2020

The down payment amount can vary depending on the type of loan for which you’re applying. Fortunately, there are numerous ways to save, as well as down payment assistance programs and other funding sources for buyers. Let’s first see what the down payment amount is for the type of loan you’re looking at.

Insurance 36

Insurance Buyers Mortgage Human Resources 36

PennyMac

APRIL 5, 2022

This is a document issued by a lender that confirms you are pre-approved to secure the appropriate financing needed to buy the home you want. In short, it serves as proof to sellers that you’re a serious and reliable buyer. On the surface, some buyers may think that a pre-qualification should be enough. Reach out to Pennymac.

Mortgage 36

Mortgage Sellers Finance Buyers 36

PennyMac

APRIL 18, 2022

Buyer builds equity in the home. Property taxes and HOA fees are the buyer’s responsibility. Buyer has full control over home improvements and upgrades. Buyer has full control over home improvements and upgrades. Buyer incurs any maintenance and repair cost. Rental insurance is inexpensive.

Landlords 36

Landlords Property Taxes HOA Insurance 36

PennyMac

DECEMBER 22, 2020

Many potential homebuyers and investors overlook bank-owned properties, but for buyers who take the time to understand the REO process, these homes can be a significant opportunity. Step 2: Find a Lender and Discuss REO Financing. Once you’ve found a property you are interested in, talk to a lender about your financing options.

Inspection 69

Inspection Real Estate Agent Real Estate Agents 69

Housing Wire

APRIL 26, 2023

Your social media feed right now is probably abuzz with claims that the FHFA’s new loan level pricing adjustments (LLPAs) on conventional mortgages favor buyers with bad credit over buyers with great credit. “A Rebecca Richardson, a loan officer at UMortgage , had a smart take on the changes.

Buyers 393

Buyers Loan Officers Mortgage Insurance 393

PennyMac

JUNE 1, 2022

Although few prospective home buyers have enough cash on hand to buy a property outright (which is where home mortgage loans come in), lenders still expect you to have enough money to make a down payment upfront. Those items you’ve been hauling around since childhood may just be worth a significant amount to the right buyer.

Buyers 36

Buyers Loan Officers Mortgage Investing 36

PennyMac

MAY 12, 2022

For example, for a $200,000 loan at Freddie Mac's posted rate of 2.89 percent, monthly payments on a 15-year fixed-rate mortgage would be $1,370.91 (not including property taxes and homeowners insurance). If you have a 30-year mortgage, you can choose to pay extra each month as finances permit. The Bottom Line for 15-Year Loans.

Mortgage 36

Mortgage Finance Property Taxes Loan Officers 36

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. Less business for lenders and real estate brokerages, in return, is hurting title companies, tech vendors, appraisers and mortgage insurance firms. Demand falls for homebuilders.

Housing Market 432

Housing Market Marketing Brokerage Real Estate 432

Quicken Loans

JUNE 10, 2021

The first step we recommend any home buyer take is to get a mortgage preapproval. The idea behind a preapproval is simple: Before checking out what’s on the market, you should be confident that you know how much a lender will loan you. You can also add the cost of taxes and insurance if you know what they’re likely to be.).

Mortgage 68

Mortgage Real Estate Agent Sellers Appraisal 68

PennyMac

APRIL 2, 2020

Your home buying budget will be impacted by your household finances and the market you are searching in. Getting this first step in the loan process completed before you start looking at homes will ensure that you are ready to make an offer (and succeed!) Is Homeowners Insurance Legally Required? Step 2: Determine Your Budget.

Real Estate Agent 36

Real Estate Agent Inspection Sellers Real Estate 36

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. Inside Mortgage Finance (IMF) data shows that First Republic held the jumbo crown in the first quarter of 2023, with $3.7 In the secondary market, Wall Street firms have shown more appetite for these mortgages. billion in non-agency jumbo mortgages.

Marketing 361

Marketing Retail Mortgage Investors 361

Assurance Financial

NOVEMBER 9, 2021

Before signing the final papers, there are many factors to consider and scenarios to prepare for to secure your home financing solution. In today’s market, you will likely have to take out at least one type of loan to help you pay for the house in a manageable way. What Is Mortgage Insurance on a Home Loan?

Insurance 41

Insurance Mortgage Home Value Finance 41

Housing Wire

AUGUST 27, 2021

Where I take issue with the GSEs’ pricing methodology is how they combine loan-level pricing adjustments ( LL P A’s ) on top of base g-fees for low downpayment borrowers at levels that some have stated seem excessive. When I started my career as a loan officer, there were no credit scores.

Mortgage 411

Mortgage Lending Loan Officers Insurance 411