Remove Contracts Remove Inventory Remove Loan Officers Remove Technology
article thumbnail

Lenders can use closing technology as a bargaining chip

Housing Wire

While new technologies have a reputation for breaking the bank, the average lender only budgets less than 10% of their overall operations costs for technology. Without loan officer adoption, that spend becomes frivolous, making a lender’s decisions on which technologies to include in the tech stack extremely important.

article thumbnail

Home equity products light up a dark housing market

Housing Wire

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. The recent Saluda Grade-sponsored rated offering represents the sixth securitization deal since 2021 backed fully by shared-equity contracts — valued in total at some $1.3

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Opinion: Is the lending market overcorrecting toward tech? Maybe

Housing Wire

Inventory is contracting. Technology has been the focal point of that evolution more out of necessity than some consensus that homebuyers don’t want to interact with their lenders at all. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack.

Lending 288
article thumbnail

Mat Ishbia talks the ‘loser mentality,’ the controversial ‘ultimatum’ and the years ahead

Housing Wire

What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? Nunes: Surging mortgage rates is one challenge, but inventory is another. So, people who say inventory and rates and it’s bottom and it’s struggling, they just have a loser’s mentality.

Retail 342
article thumbnail

How mortgage lenders are navigating life at 6%

Housing Wire

The lender expects to turn a profit this year by reducing costs upwards of 30% through a renegotiation of worker contracts, but not through layoffs. Instead of getting maximum financing (between 75%-80% loan to value), they are now putting much more down (between 35-50%),” he said. More layoffs to come. trillion in 2022 and $2.3

Mortgage 376
article thumbnail

4 reasons you’re better off selling your house this summer [INFOGRAPHIC]

Cornerstone

Here’s an overview of why selling your house now may be optimal: Because inventory is so tight and demand is so high, buyers are competing for limited listings as homes fly off the market. Housing inventory still sits far below the six-month supply threshold required to uphold a healthy market.* Got questions? We’ve got answers.

Sellers 61
article thumbnail

MBA economists: The overcapacity that still needs to be cut

Housing Wire

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. For example, within these firms, there are occupations such as loan officers, loan interviewers, title-related occupations, and loan counselors that could apply to both mortgage and non-mortgage lending.

Lending 382