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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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Polly teams up with mortgage insurance providers to streamline service

Housing Wire

Polly , a software-as-service mortgage technology firm that operates a loan-trading platform, integrated with six mortgage insurance providers to streamline the mortgage process for loan officers and mortgage lenders. .

Insurance 362
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex.

Mortgage 393
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Threat of climate change looms large for some home buyers

Housing Wire

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. . “I had one client in St. .” Real estate agents and LOs: the great collaboration.

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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

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. ” Just a little less vanilla. But non-QM is a fairly dangerous space right now. and Sprout Mortgage.

Mortgage 393
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How mortgage lenders are navigating life at 6%

Housing Wire

Investors asked for higher premiums to invest in these assets amid a flight to quality caused by the expectation of higher U.S. “Even though the market may have priced in some of the rate change already, the volatility is just requiring additional yield to be provided to investors to accommodate for the changes going on.”

Mortgage 382
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Mortgage stocks are in free fall. So what’s next?

Housing Wire

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Goldman Sachs ’s analysts wrote in a report to clients on January 6 that, overall, they remain negative on the group of nonbank mortgage originators for this year. Investors were nonplussed. How could they resist?

Mortgage 380