article thumbnail

First Financial Bank to invest $700M by 2028 in affordable mortgages

Housing Wire

Another $700 million is expected to be invested in mortgage lending, with a focus on rural areas, the development of community mortgage loan officers, small-dollar mortgages and home improvement loans, among other products for LMI borrowers. In its previous five-year plan, from 2018 to 2023, the bank invested $1.75

Investing 347
article thumbnail

Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

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. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. The closer, the better.

Mortgage 522
Insiders

Sign Up for our Newsletter

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

article thumbnail

How LOs, mortgage execs are preparing for 2024

Housing Wire

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

Mortgage 450
article thumbnail

Home Equity Line of Credit (HELOC), Home Equity Loans, and Cash-Out Refinancing

PennyMac

Renting puts money into a landlord’s pocket, but owning a home helps you increase the value of your investment over time. When you do build home equity, it opens up cash-out options that can be used for home improvements, paying off debt or other projects. Home improvement. What Is a HELOC? Tax deductions.

article thumbnail

How to Find the Right Mortgage Loan for You

Assurance Financial

Two broad categories of mortgages exist, private loans and government-backed loans. Private loans often have stricter requirements, while government-backed loans are guaranteed by various federal agencies or departments and have looser requirements. It’s not guaranteed or backed by the government.

article thumbnail

All You Need to Know About Reverse Mortgage Appraisals

AmeriMac

The reverse mortgage process typically begins with a borrower contacting a loan officer who specializes in reverse mortgages. The loan officer will assess the homeowner’s eligibility and explain the details of the loan, including the potential loan amount and repayment terms.