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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.

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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.

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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. billion in purchase loans, and its overall mix in 2021 was just 31% purchase mortgages. The closer, the better.

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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? Emergency funds.

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Outdoor Renovations: Think Outside the Box

PennyMac

Than Merrill is an expert real estate investor and CEO of the real estate education company FortuneBuilders, and is a sought-after public speaker, best-selling author, and television star of A&E’s hit home renovation show, Flip This House. Contact a PennyMac Loan Officer to explore your choices.

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Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

Couple this with the improved job market and an upswing in home values, and you have a tidal wave of homeowners willing to invest in fixer-upper dwellings. In 2018, homeowners reported an average of $7,560 or more on major home improvements , up 17% over the previous year. Plus, it can be a great investment.