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Vishal Garg unveils Better’s new strategy as a publicly traded company 

Housing Wire

During this period, Better faced the deterioration of the mortgage market due to surging rates, along with the fallout from bad press after Garg laid off employees via Zoom in December 2020. Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. We aim for a similar mix.”

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Non-QM lenders hunt for LOs as consumer-direct model falters

Housing Wire

If you’re willing to learn and you’re coachable and trainable, that works too.”. The hiring trend at non-QM lenders stands in sharp contrast to recent layoffs at some consumer-direct lenders, which specialize in conventional refinance loans. “The area of focus for us right now is hiring LOs,” Lind said.

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VA official talks future of partial claims and revamping its reputation

Housing Wire

HousingWire sat down with Bell to learn about how the VA is working to revamp the image of the loans it offers, how it plans to modernize its appraisal processes, how it coordinates with other agencies, and whether its COVID-19 partial claim program will get an extension. The VA also faces challenges unrelated to the pandemic.

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Understand home equity lending and how lenders can acquire home equity customers

Clear Capital

Home equity lenders provide an option for their clients to convert their growing equity back into debt for cash. Home equity line of credit (HELOC) A HELOC is a revolving debt. If the borrower pays $10,000 toward the principle, they will then have $16,000 in credit available to draw against. What is home equity lending?

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What Documents Do You Need To Refinance A Mortgage?

Quicken Loans

After all, refinances typically take a month or two to complete, and delays in getting your lender the information they need from you can stretch that timeline even further. What documents are needed for a mortgage refinance? Refinance Documents Checklist. Debt Statements. W-2s, Tax Returns And 1099s. Asset Statements.

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How Much of My Income Should Go Towards a Mortgage Payment?

Assurance Financial

This means most of your money goes towards interest at the beginning of paying a mortgage. Interest is the price you must pay for borrowing money. At the beginning of your mortgage term, you will pay more towards interest than the principal. This allows you to pay your taxes over time rather than paying a large sum all at once.

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What Is a Home Equity Line of Credit?

Assurance Financial

One significant advantage is that you can build equity as you pay off your mortgage over time. You can leverage home equity to access cash for major purchases, alternative debt repayment, retirement plans or home renovations. If you own your home and have already paid off your mortgage, you may also be able to obtain a HELOC.