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LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. Of the 155 completed surveys, 32.3%

Mortgage 351
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As the market shifts to purchase, LOs get creative

Housing Wire

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. Borrowers have called me from seeing my advertising in the stores and a couple of Realtors, too.”. trillion in 2021.

Marketing 397
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Why non-QM lending is not going away

Housing Wire

HousingWire: Given the recent news about a few non-QM lenders shutting down, some loan officers might be hesitant about working with non-QM. What would you say to those loan officers? HW: What strategies can loan officers employ to win with non-QM in the second half of 2022? Get back to basics to find it.

Lending 370
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Buydowns become key for buyers to beat the market

Housing Wire

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. It gives the buyer and seller the feeling of beating the mutual enemy, ‘the market,’ and gaming the system.”.

Buyers 473
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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. The National Association of Realtors (NAR) estimates that baby boomers made up roughly 39%, or 2.32 Why is this market underserved?

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. And Rocket is well aware.

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Guaranteed Rate’s Larry Steinway makes the jump to Revolution Mortgage

Housing Wire

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023.

Mortgage 363