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FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Housing Wire

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The client had just started a new job, and that can be tricky. When the borrower is denied for an FHA mortgage loan, an MCR report had to be created for that denial.

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Agents fight misconceptions to win deals for military veteran clients

Housing Wire

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.

Clients 397
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rates and limited purchasing power due to increasing debt. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance 458
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Florida-based LO accused of falsifying documents

Housing Wire

A Florida-based loan officer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment. She could also be ordered to pay $130,000 in restitution.

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University Bank adds four reverse mortgage veterans to its HECM division

Housing Wire

Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Sue Haviland has also joined the division as a loan officer, coming off of a roughly three-year stint as Finance of America Reverse (FAR)’s national sales trainer in learning and development.

Mortgage 441
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Buyside launches a new home valuation pages feature

Housing Wire

Buyside helps real estate agents and loan officers engage homeowners with not just home value tools but also branded wealth optimization tips on their home’s equity so homeowners can now truly view their home as an asset. In 2020, Buyside clients closed close to $20 Billion in sales through Buyside, averaging over a 3000% ROI.

Valuation 394
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Here’s what lenders should look for in a title provider

Housing Wire

HousingWire recently spoke with Susan Falsetti, managing director of Origination Title and Close at ServiceLink, about the state of title in 2020 and how the EXOS technology platform allowed ServiceLink clients to take advantage of virtual closing solutions. This year, our teams have helped our clients keep pace with record volume.

Clients 397