Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business.

Loan Officers 395

Loan Officers Real Estate Agent Real Estate Finance 395

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. Really struggling.

Loan Officers 407

Loan Officers Mortgage Buyers Finance 407

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. Then, we have all the traditional financing options, including jumbo.”

Mortgage 469

Mortgage Real Estate Agent Renovations Finance 469

Housing Wire

MARCH 6, 2023

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. This means LOs need to find ways to ease the financing pain for borrowers on a case-by-case basis. For the week ending Feb.

Loan Officers 383

Loan Officers Inventory Real Estate Agent Buyers 383

Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

Finance 469

Finance Insurance Loan Officers Government 469

Housing Wire

SEPTEMBER 7, 2023

If the traditional practice of sellers paying for both sides of the agents ends, housing agencies will have to weigh in to determine ways for buyers to finance their agents’ comp, LOs noted. One of the top loan officers in the nation has set up webinars that he does four times a week and he is building up his own pipeline.”

Buyers 395

Buyers Agents Loan Officers Real Estate 395

Housing Wire

SEPTEMBER 22, 2022

Where ‘inventory’ was the big concern in 2021 and early 2022, the concern today is ‘affordability,’ with the combination of substantial price increases and rising rates simply pricing more and more Americans out of the market,” Green said. According to the NAR, there were 1.28 About 9.1%

Mortgage 417

Mortgage Loan Officers Buyers Inventory 417

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. . When will the market turn?

Loan Officers 395

Loan Officers Investors Mortgage Clients 395

Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. The suburbs had a significant lack of inventory, and even the urban areas, there just wasn’t a lot of deals going on. They would take a line of credit or an equity loan or a personal loan.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. VanFossen said there are talks about the “mortgage industry figuring out methods to finance the buyers’ real estate agent commission.” “As

Buyers 501

Buyers Agents Mortgage Real Estate Agent 501

Housing Wire

DECEMBER 14, 2023

Several loan officers on Thursday told HousingWire they were quoting borrowers in the mid-6% range on standard 30-year-fixed loans. This harms inventory as homeowners are reluctant to let go of their low mortgages. One LO said he quoted an FHA borrower at 5.7%.

Mortgage 481

Mortgage New Listings Loan Officers Inventory 481

Housing Wire

DECEMBER 1, 2021

Company sources told HousingWire that refi-focused, salaried loan officers made up the majority of the hundreds of employees who received pink slips. Better’s loan officers do not receive commissions. Of the 77 employees that will be laid off, 49 of them are loan officers.

Loan Officers 395

Loan Officers Finance Business Mortgage 395

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

Marketing 383

Marketing Mortgage Inventory Loan Officers 383

Housing Wire

APRIL 4, 2022

Founded in 2008, Movement Mortgage focuses on providing loans quickly and easily to homebuyers, with a network of loan officers in more than 775 locations nationwide, and more than 4,500 employees, the company’s website shows. compared to the previous year, according to Inside Mortgage Finance. billion in 2021, up 10.7%

Mortgage 446

Mortgage Supply Chain Retail Loan Officers 446

Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

Loan Officers 370

Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

APRIL 28, 2022

The residential housing market has turned quickly due to historically low inventory of homes for sale and a rapid rise in interest rates due to inflation,” Cindy Flynn, chief marketing and communications officer, said in a statement. “We, UHM is the 49th-largest mortgage lender in the country, according to Inside Mortgage Finance.

Mortgage 370

Mortgage Loan Officers Retail Construction 370

Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . “I recently sold a home in Austin that was listed at $565,000 and closed at $715,000,” Dawson said.

Marketing 492

Marketing Sellers Finance Loan Officers 492

Housing Wire

AUGUST 3, 2023

Rocket’s share of the purchase business jumped to 55% in the first three months of 2023, according to data from Inside Mortgage Finance (IMF). HousingWire recently published a deep-dive feature on whether Rocket’s accelerated efforts of hiring local loan officers represented a shift in the lender’s strategy. “As

Clients 370

Clients Business Inventory Mortgage 370

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Lending 445

Lending Tools Inventory Renovations 445

Housing Wire

JANUARY 9, 2024

households that provides visibility into everything that went into a transaction — real estate agents, loan officers, lenders, title agencies and borrower details, according to MMI’s website. “If MMI’s data covers information on mortgage transactions covering more than 95% of U.S.

Loan Officers 353

Loan Officers Real Estate Agent Tools Business 353

Housing Wire

JUNE 29, 2022

As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies. Loan officers must understand what modern millennial and Gen Z homebuyers want from their lenders. Barriers to Home Buying.

Loan Officers 427

Loan Officers Mortgage Modernization Business 427

Housing Wire

OCTOBER 5, 2023

“…These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” billion, according to offering documents. housing supply will sustain elevated home prices,” he added.

Housing Market 417

Housing Market Marketing Contracts Finance 417

Housing Wire

JANUARY 25, 2022

Additionally, the Federal Housing Finance Agency’s recent announcement of increased upfront fees for high-balance and second-home loans is bound to create more pressure by pushing borrowers out of the market. This includes how much cash is used to fund new loans, cycle time on loans in inventory, and how fast you’re selling loans.

Mortgage 370

Mortgage Inventory Business Loan Officers 370

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. I think it’s already priced in the market.”.

Housing Market 304

Housing Market Marketing Loan Officers Buyers 304

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. There’s no question that 2022 has seen serious changes to the housing market.

Lending 395

Lending Investing Loan Officers Design 395

Housing Wire

SEPTEMBER 30, 2022

Effective natural language processing technologies extract deeper meaning from unstructured data to make a difference in the lives of countless would-be homebuyers who are credit invisible or have not had the ability to obtain access to affordable housing finance. There is more inventory relative to demand, and deals can be found.

Buyers 454

Buyers Mortgage Loan Officers Retail 454

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. That was just over 45% of the company’s mix, according to Inside Mortgage Finance. The closer, the better.

Mortgage 521

Mortgage Marketing Retail Lending 521

Housing Wire

MAY 6, 2022

First, it is true that margins continue to be compressed in the conforming market primarily due to rising rates and increased financing costs. Lenders can’t significantly impact the historically low inventory. All of a sudden, you have loan officers and brokers out there hearing what the market is demanding.

Marketing 370

Marketing Lending Loan Officers Training 370

Housing Wire

JUNE 2, 2023

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. They buy loans.

Retail 370

Retail Inventory Mortgage Loan Officers 370

Housing Wire

APRIL 18, 2023

When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. There are support staff that come along with them (loan officers). My biggest concern, to be honest, is inventory. Inventory is lighter now than I think it’s been in decades.

Retail 370

Retail Business Agents Loan Officers 370

Housing Wire

NOVEMBER 10, 2023

Many homebuyers are aware of the lack of inventory of existing homes for sale, he explained. Loan originators emphasized any decline in rates improves affordability while the lack of housing inventory and higher home prices will continue to be a challenge. in 2023 and move up to 6.9%

Mortgage 427

Mortgage Inventory Marketing Retail 427

Housing Wire

JUNE 15, 2022

. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . It’s not a bad thing for borrowers, lenders, and loan investors. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years.

Mortgage 370

Mortgage Bracketing Loan Officers Investors 370

Housing Wire

MARCH 10, 2023

The industry is still rightsizing, and about 20% of the loan officers in the industry let their licenses expire at the year-end, according to the NMLS, Terry Schmidt, president of Guild, noted.

Business 370

Business Mortgage Loan Officers Retail 370

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Business 427

Business Mortgage Loan Officers Inventory 427

Housing Wire

NOVEMBER 8, 2021

He will also inform the listing agent that he is a veteran himself and implores them to ask any questions or express concerns they have about VA loans. Alex Naumovych, a loan officer at Draper & Kramer , has noticed similar trends in his work at a lender.

Clients 395

Clients Agents Buyers Sellers 395

Housing Wire

SEPTEMBER 5, 2023

It’s so important in this market that when a buyer puts an offer on a home, it’s 100% clear that financing is available and ready to support the purchase. And then closing as fast as possible because we’re still in a tight housing market with tight inventory.

Technology 395

Technology Mortgage Tools Insurance 395

Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.

Mortgage 446

Mortgage Loan Officers Inventory Business 446