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3 unique mortgage products to get today’s homebuyer qualified

Housing Wire

Often, traditional mortgage products don’t meet their needs. Equity Advantage is a second lien cash-out refinance loan that allows borrowers to keep their first low rate mortgage. Equity Advantage is a second lien cash-out refinance loan that allows borrowers to keep their first low rate mortgage. today, according to the U.S.

Mortgage 427
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Recruiters turn to AI in their quest to lure top agents

Housing Wire

Launched in 2006, the Zillow Zestimate leverages public documents to provide estimates of value for every house in a given neighborhood. These companies leverage different techniques such as predictive analytics and machine learning — including the subsets of active learning and deep learning — to forecast the future performance of an agent.

Agents 390
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FHFA says GSEs are open to alternatives to loan repurchases

Housing Wire

“The good news is that there has been a large decrease in repurchase requests since their peak in early 2022, as the Enterprises have worked through loans originated during the refinance boom.” It cited loans missing key documents or those with inaccurate income calculations as the top factors. ” .”

Mortgage 420
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Are refinance and agency volumes truly threatened in 2022?

Housing Wire

We know that refinance volume is declining, Agency business will shrink and get more expensive and an increasing number of borrowers will not qualify under Agency guidelines. By the way, this is on top of refinance business we all know we won’t be getting this year. The Decline In Refinance Volume Will Have To Be Replaced Somewhere.

Business 370
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LOs and brokers, are you prepared for an evolving workforce?

Housing Wire

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. With higher-risk loans like non-QM, the need for optimization needs to be underscored from the outset to avoid costly mistakes.

Lending 397
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Non-QM lenders, it’s time to embrace automated underwriting systems

Housing Wire

In fact, a recent report from S&P Global estimates that “non-QM issuance volumes will return to 2019 levels this year, reaching an estimated $25 billion” as agency refinance activity slows down and the purchase market remains strong. Lenders will still need to carefully verify borrower documentation to ensure ability to repay.

Lending 369
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Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

Consumer loans such as mortgages and other financial documents require notarization. A signer such as a customer closing on a loan appears before a notary on a video call and they complete, sign and notarize the document, he said. Register for the FinLedger Daily Newsletter.

Business 491