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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. The lower comp rate stung.

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How lenders can responsibly expand the credit box

Housing Wire

Amid elevated mortgage rates, continued emphasis on regulatory oversight and a worsening 2023 market outlook, many lenders are reassessing their risk tolerance, which can lead to a tightening of their lending standards. In a contracting market, how can lenders gain a competitive advantage? How can lenders expand the credit box?

Clients 348
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These LOs are TikTok sensations. They call a potential ban “unfortunate”

Housing Wire

Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. “Anybody who’s been on long enough realizes that putting out educational content is the best form of nurturing through the beginning of that lifecycle of a client.”

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Free Webinar: Components of AMC Training by Josh Walitt

Appraisal Buzz

Depending on the client’s needs, my work includes coaching, customized training, quality assurance, continuing education, disciplinary action assistance, internal audit, and other customized projects. In 2015, I designed the Market Machine, a technological tool used by appraisers and other valuation professionals.

Training 366
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Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

Notably, the market has contracted as fewer buyers can afford to purchase in today’s market with the rise in interest rates and the continual rise in home prices. Another measure the housing market, is whether a Realtor had a client who had a distressed sale in the last month. In comparison, in 2011, homes took 96 days to sell. .

Realtors 388
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What Pennymac TPO’s rebrand means for the wholesale channel

Housing Wire

We’ve worked closely with our partners to understand what they need and have designed technology enhancements that will roll out in phases during 2022. These new features will drive greater speed, efficiency and transparency into the loan process, ultimately creating a better experience for our broker partners and their clients.

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All Risk, No Reward? For Appraisers, a Question Worth Asking

Appraisal Buzz

State boards field complaints about appraisals, often when appraised value is below sales contract price. There are obligations to clients and other intended users under the engagement letter and assignment conditions, and questions asked by a lender or AMC, all part of the existing reality of working as a professional appraiser.

Appraisal 221