Housing Wire

NOVEMBER 7, 2023

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

VA loan 442

VA loan Agents Seller concession FHA loan 442

Housing Wire

JANUARY 17, 2024

With this latest enhancement, homebuyers aged 62+ can participate in seller concessions for up to 6% of the sales price toward borrower origination fees, other closing costs, prepaid items, and discount points. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

Finance 424

Finance Seller concession Loan Officer Loans 424

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown?

Seller concession 437

Seller concession Loan Officer Closing costs Mortgages 437

Housing Wire

SEPTEMBER 7, 2023

Loan officers may increasingly place more importance on reaching consumers directly especially when a buyer takes initiative in the homebuying process rather than relying on agents. “If One of the top loan officers in the nation has set up webinars that he does four times a week and he is building up his own pipeline.”

Agents 376

Agents Loan Officer Lending MLS 376

Housing Wire

FEBRUARY 15, 2024

They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said. Every call I get, if they are first-time homebuyers, they ask, ‘Where can I get money for a down payment or closing costs?’” It’s really about access to credit.

FHA loan 442

FHA loan Loans Closing costs Loan Officer 442

Housing Wire

MAY 25, 2023

Few loan officers make the purchase product a main part of their business. Real estate agents, loan officers and builders can attract customers they have never captured before. Many of these loan officers have existing relationships with real estate agents and builders,” Cooper said. “If

Loan Officer 377

Loan Officer Equity Finance Loans 377

Housing Wire

AUGUST 5, 2020

The company also said: “Since every borrower’s situation is different, interested loan officers can price out this specific product in UWM’s EASE system or call their AE [account executive] for more information.”. s San Diego office, to get a better understanding since he originates a lot of UWM’s Conquest loans. “If

Mortgages 523

Mortgages Loan Officer Lending Loans 523

Housing Wire

SEPTEMBER 21, 2022

The following five accounts showcase how lenders and loan officers can use TikTok to brand themselves as well as entertain and educate home buyers. . Scott Betley is a loan officer for NFM Lending with more than 10 years of experience helping first-time home buyers and move-up buyers. Scott Betley ( @thatmortgageguy ).

Loan Officer 370

Loan Officer Loans Branding Mortgages 370

Housing Wire

APRIL 8, 2024

After analyzing millions of federal and state records, Hunterbrook Media estimates that 8,682 loan officers at independent brokerages sent UWM more than 99% of their mortgages in 2023, with a total value of at least $11.7 UWM’s parent company non-GAAP adjusted net loss was $57.1 million in 2023, compared to a profit of $719.4

Loans 293

Loans Loan Officer Mortgages Closing costs 293

Housing Wire

FEBRUARY 5, 2021

With the acquisitions of Stearns and Owning, Guaranteed Rate now has a stable of profitable joint-ventures , some of the nation’s top-producing retail loan officers , access to the wholesale channel and a stronger direct-to-consumer platform to grow its refi business. The company appears to be only licensed in California.

Loan Officer 417

Loan Officer Loans Closing costs Title 417

Housing Wire

APRIL 9, 2024

O n April 2, Hunterbrook Media reported that over 8,600 loan officers at independent brokerages sent UWM more than 99% of their mortgages in 2023, more than double the number of partners sending 99% of their loans to the lender in 2020.

Fixed-rate mortgage 366

Fixed-rate mortgage Loans Mortgages Loan Officer 366

Housing Wire

FEBRUARY 1, 2023

“The streamlined process and certainty One-Time Close New Construction loans offer is unmatched and will set brokers up to be the hero with builders, real estate agents and contractors, and get their borrowers in their dream home,” Mat Ishbia , president and CEO of UWM, said in a statement.

Construction 395

Construction Loans Loan Officer New Construction 395

Housing Wire

APRIL 12, 2023

“It is essentially free money that would be credited back to the borrower should they pay the loan off within the buy down structure (1/0, 2/1, or 3/2/1).” Seller credit for closing costs, price reductions waiving of fees, and adjustable-rate mortgages (ARMs) were also mentioned by mortgage professionals as incentives offered in the market.

Mortgages 304

Mortgages Loan Officer Marketing Seller concession 304

Housing Wire

SEPTEMBER 30, 2021

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Buyers “are waiving inspections, an appraisal contingency, and the latest trend is to pay closing costs usually done by the seller.” Kansas City, Missouri. One kid will give their parent’s car.”

Marketing 331

Marketing Loan Officer Closing costs Inspection 331

Housing Wire

FEBRUARY 3, 2023

With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex. “By maintaining initial asking prices, builders can help keep current values in the neighborhood and ensure appraised values for buyers,” the company said in a statement. Guaranteed Rate originated $34.38

Loans 329

Loans Loan Officer Closing costs Mortgages 329

Housing Wire

SEPTEMBER 22, 2022

These documents reveal critical details on loan terms, projected monthly payments, and how much the consumer will pay in fees and other costs to get their mortgage (closing costs),” Kalinski said.

Marketing 340

Marketing Loan Officer Loans Finance 340

Housing Wire

APRIL 25, 2023

The goal of Asset Analysis is to automate the labor-intensive process of reviewing assets and multiple bank statements during underwriting to determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction.

Lending 293

Lending Banks Loan Officer Loans 293

Housing Wire

FEBRUARY 19, 2021

If there’s an error, report it to your loan officer as soon as possible. Before you close on your loan, you’ll have the opportunity to walk through the house one more time, making sure any repairs you requested were done and that the owners cleared out their property and left the place in good condition.

Loans 533

Loans Loan Officer Closing costs Closing 533

Housing Wire

MARCH 1, 2021

You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks. . They usually come with lower closing costs, too, making them a great way to save both time and money. It doesn’t stop there.

Mortgages 427

Mortgages VA loan Loans Loan Officer 427

Housing Wire

DECEMBER 22, 2020

As long as you go through with the deal, the deposit will go toward your closing costs and down payment. Link up with an experienced loan officer or mortgage broker , and tap their expertise when you’re confused or need help. You can offer more if you’re looking to get a leg up over other buyers. You’re not alone.

Fixed-rate mortgage 417

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 417

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown?

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

Dwell Real Estate

MAY 26, 2022

With the help of my realtor and loan officer, there was so much that I didn’t know about and they were able to help me and guide me,” said Officer Ashton Wolfe, Cape Coral Police Department. ” “Recently I started looking to buy a house. “I joined the military when I was 18.

Loan Officer 98

Loan Officer Closing costs Finance Loans 98

Realtor.com

DECEMBER 20, 2021

“The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , What if you don’t meet the eligibility requirements for a VA, FHA, or USDA loan? . an agent with Century 21 Envision in Upper Marlboro, MD.

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

Housing Wire

MAY 12, 2022

That means enough loan officers on staff to engage proactively with clients, to educate them and to build the trust that can only be achieved between two humans. There’s no one to answer questions about DTI ratios, the down payment amount or closing costs at the moments they matter most. Customer acquisition costs go up.

Lending 294

Lending Marketing Pre-qualification Pre-approval 294

Realtor.com

MARCH 12, 2021

Consider how many months it would take for you to recoup the costs of closing on a refi, along with how long you’ll be staying at this home. If you can recoup closing costs within two years and plan to stay in your house for longer, the savings on interest means the math will likely work out in your favor.

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Housing Wire

SEPTEMBER 16, 2020

as a $400,000 loan including cash out, they get a… quarter of a point, or $1000 credit toward their closing costs. I said the earliest would be October 1st, but I don’t think it’s going to be that because we’re closing in 17 days, 15 days, 12 days, but we don’t need to charge borrowers.

Mortgages 462

Mortgages Marketing Title Loans 462

HomeLight

JUNE 15, 2023

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

Closing costs 87

Closing costs Closing Title Inspection 87

Realtor.com

NOVEMBER 27, 2022

A good loan officer can make a difference at this point, as an experienced pro will know what documents you need to submit with your application to ensure the process goes as quickly as possible. Lenders are required to provide your loan estimate and disclosures within three days of your application. Step 4: Loan processing.

Mortgages 111

Mortgages Closing costs Loans Loan Officer 111

Real Trends

JANUARY 4, 2023

First-time homebuyers cited the cost and the budgeting process as a surprise , as well as unexpected expenses like closing costs or taxes (38%), and the impact on monthly budgeting (32%). Also, many first-time buyers aren’t aware that sellers may be able to contribute to their closing costs through concessions.

Closing costs 81

Closing costs Inspection Title Agents 81

RIS Media

OCTOBER 21, 2020

Snap provides agents and mortgage loan officers closing cost estimates for each of Realogy Title Group’s more than 40 brands, the ability to start a title order, generate and electronically share seller net sheets, title and escrow fee estimates, and a range of real estate calculators.

Title 80

Title Loan Officer Closing costs Branding 80

Housing Wire

MARCH 1, 2021

It’s much more efficient to reach a loan officer and input an application into the pipeline than ever before. But about those fulfillment, production and closing costs…. In 2019, The MBA estimated that for depositories, 46% of retail origination costs were used to cover sales functions.

Closing 232

Closing Marketing Title Title search 232

Realtor.com

MARCH 8, 2021

“It’s important to work with a lender with deep expertise in construction loans who can guide the borrower through the process,” Kaminski says. And, it’s a good idea to meet with a loan officer as early as possible in the process to understand what documentation you’ll be required to provide.

Loans 120

Loans Construction Land Finance 120

HomeLight

JULY 25, 2022

Of all the expenses that come with buying a house, prepaid costs often take buyers by surprise and aren’t as talked about as down payments or closing costs. These costs differ slightly from closing costs and will be laid out in your mortgage Loan Estimate and Closing Disclosure.

Closing costs 96

Closing costs Earnest money deposit Loans Closing 96

Realty Biz

JANUARY 19, 2023

It’s important to note that, if you’re buying a house in cash, you’ll still need to pay closing costs and any applicable taxes. Homeowners who take out a mortgage can deduct the interest paid on the loan from their taxes. Instead, you can buy the home outright, using the money you’ve saved up or inherited.

Loans 90

Loans Loan Officer Finance Closing costs 90

Real Trends

NOVEMBER 11, 2022

As previously reported by HousingWire, Boise-based loan officer Blake Bianchi, founder and CEO at Future Mortgage, said he’s seen an increase in borrowers choosing a 2-1 temporary rate buydown. These loans are created to help the borrower avoid paying for mortgage insurance. This option is increasing in popularity.

Finance 106

Finance VA loan FHA loan Agents 106

Marco Santarelli

NOVEMBER 1, 2023

Zillow's analysis takes into account various factors, including typical home values, forecasted home value increases, closing costs, agent fees, maintenance costs, and interest payments. For example, a $400,000 loan with a 5% mortgage rate compared to a 7% mortgage rate can lead to a $500 monthly difference.

Finance 52

Finance Loan Officer Loans Closing costs 52

HomeLight

SEPTEMBER 30, 2020

Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. I have done many refinances over my career that have saved homeowners hundreds of dollars per month and tens of thousands over the life of the loan.”. Pay fees and closing costs. Have the loan underwritten and go through closing again.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98