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Knock reverses course on loan officer pay cut

Housing Wire

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources. But on Thursday morning, Knock reversed course. It began 2021 in 14 markets and is now in 70.

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Buydowns become key for buyers to beat the market

Housing Wire

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. It gives the buyer and seller the feeling of beating the mutual enemy, ‘the market,’ and gaming the system.”.

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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

Most real estate agents, builders and potential customers have no idea that this financing option exists to purchase homes,” he said. Few loan officers make the purchase product a main part of their business. Real estate agents, loan officers and builders can attract customers they have never captured before.

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AmeriFirst Financial gets back into forward mortgage origination

Housing Wire

Now that it’s getting back into the forward mortgage origination business, AmeriFirst plans to focus on providing buyers with competitive rates by cutting branch and regional margins, which led to higher fees for buyers. LOs at the lender receive 150 to 165 bps per loan depending on the arena, Bowlby said.

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LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

Other challenges selected by mortgage professionals were relationships with real estate agents at 8.4%; competitiveness of rate sheet and underwriting problems at 5.8%; lender stability at 3.9%; competitiveness of product offerings at 1.9%. a loan officer in Washington noted.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! stares down the barrel of a considerable economic downturn.

Finance 448
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How boutique lender Revolution Mortgage plans its expansion

Housing Wire

Margin compression, higher mortgage rates, and a purchase-focused market are dictating more sales process control among loan officers and fewer layers of bureaucracy in retail lenders. The lender has broker products, including non-QMs and jumbo loans, he added. The lender originated a volume of $1.8 It’s the local relationships.

Mortgage 404