Remove Clients Remove Design Remove Loan Officers Remove Retail
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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

Coming off multiple quarters of financial losses , Rocket has accelerated those efforts in 2023, embarking on a remote local loan officer hiring spree designed to capture purchase market business from real estate agent connections, sources told HousingWire. So this isn’t brand new,” Kidwell noted.

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Fairway breaks silence on UWM’s ultimatum

Housing Wire

billion in the wholesale channel in 2020 (compared to about $62 billion in retail), lost roughly 5% of its broker clients to UWM, according to company executives. Then you might as well just go work for UWM retail. “My business is not designed to make my competitors like me, especially retail competitors,” he said.

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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

I have never done an “official” ROV for a lender, but I did not like any lender clients objecting to my values. New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted.

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NAR Appraiser Survey July, 2023

Appraisal Today

The architectural design avoids lines and straight angles to establish the idea of continuous fluidity. 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? UPDATED No.

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Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

Whimsical Casa Luna Bounces Onto the Market in Big Sur for $6,600,000 (dropped from $7M in December 2022) (Mickey) Manning architecture and designed homes to complement their natural surroundings. The residential lending appraisal business depends on low-interest rates, the same as for loan officers. It’s all curved.

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Appraising Airbnb Properties

Appraisal Today

Appraisers are being told by their AMC clients and loan officers to appraise these as residential properties. from 1.20 (including the origination fee) for 80 percent LTV loans. retail residential mortgage applications, and has been conducted weekly since 1990. percent from 6.48