Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. Richard Harris, former chief executive officer at email sending and delivering platform Spark Post , will take the helm as CEO.

Sales 397

Sales Mortgages Loan Officer Principal 397

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams. LLR Partners, which led a $26.5

Investor 381

Investor Sales Mortgages Loan Officer 381

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . .

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Realtor.com

APRIL 5, 2021

It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. Most interest-only home loans are adjustable-rate mortgages, or ARMs , says Scott Sheldon , a senior loan officer and consumer advocate in Sonoma County, CA.

Loans 122

Loans Mortgages Principal Equity 122

Calculated Risk Real Estate

SEPTEMBER 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 125

Closing Equity Principal Short sale 125

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 102

Equity Finance Loans Closing costs 102

Calculated Risk Real Estate

MARCH 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. Mortgage debt is up $2.36

Closing 68

Closing Equity Principal Short sale 68

Calculated Risk Real Estate

DECEMBER 7, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 70

Closing Equity Principal Short sale 70

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. “Rates are materially, definitely increasing faster than we were anticipating,” Saket Nigam, senior vice president of capital markets at Spring EQ , a home equity lender, said. The markets have been shaken to the core.

Mortgages 384

Mortgages Loans Investor Equity 384

Realtor.com

JANUARY 16, 2023

designer491/iStock Most home buyers applying for a loan know what a mortgage is, but a reverse mortgage may seem far less familiar. But people are often confused or all-out clueless on the details of this type of loan, so allow us to explain. What is a Home Equity Conversion Mortgage (HECM)?

Mortgages 89

Mortgages Equity Loans Loan Officer 89

Housing Wire

DECEMBER 29, 2023

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. AI can understand the loan status, a loan profile and AI can respond to the consumer.

Mortgages 450

Mortgages Loan Officer Loans Equity 450

HomeLight

SEPTEMBER 30, 2020

And the interest you pay on that mortgage loan is nothing to sneeze at. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72 just in interest over the lifetime of the loan. Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. Crazy, right?

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. Every time a bank provides somebody with a loan, the bank’s essentially investing in that person.”. All the major loan programs accept much lower minimum down payments, with a few even offering zero-down loans.

FHA loan 97

FHA loan VA loan Loans Loan Officer 97

Realty Biz

JUNE 15, 2022

Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. Student Loan Debt Must Be Paid off.

Debt-to-income ratio 97

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 97

HomeLight

JUNE 30, 2021

With the help of HomeLight Home Loans expert Richie Helali, we’re going to review everything that goes into a mortgage payment (and what doesn’t!). Ah, if only it were as simple as dividing the purchase price by the length of your loan term and calling it a day… Here’s what you need to be aware of when calculating a mortgage payment.

Mortgages 55

Mortgages Principal Loans Homeowner’s association 55

Housing Wire

DECEMBER 11, 2023

The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand. There is a lot more inquiry for home equity line credit. How fast we move past that is up for debate.”

Mortgages 458

Mortgages Fixed-rate mortgage Equity Loans 458

Housing Wire

MAY 1, 2023

Name Job Title Company Name Alayna Gardner Director of Sales and Marketing LodeStar Software Solutions Alex Boand Managing Director of Correspondent Group Sales Pennymac Alison Flinn Chief of Staff Development Amherst Amanda Morrow Director of Investor Relations Atlantic Bay Mortgage Company Andres Munar Owner and President Co/LAB Lending Andrew Jewett (..)

Loan Officer 370

Loan Officer Principal Title Lending 370

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. billion in loans over the first six months of 2022 — for total proceeds of $871.7 UWM’s loan production income of $296.5

Equity 410

Equity Loan Officer Loans Mortgages 410

Housing Wire

MAY 16, 2022

million) are among the non-bank lenders that benefited from the sale of MSRs, offsetting the decline in closed loan volume in the first quarter of 2022. UWM, the nation’s largest wholesale lender, sold MSR on loans with an aggregate unpaid principal balance of about $56.6 Loan origination volume dropped 26% to $21.6

Principal 384

Principal Banks Loans Lending 384

Housing Wire

NOVEMBER 16, 2022

trillion in loans, about half of 2021’s $4.4 Within the past week, one of the nation’s largest retail mortgage lenders, Charlotte-based Movement Mortgage , announced the acquisition of Mortgage Network, a deal that would add $2 billion in annual loan volume, 250 mortgage professionals and 31 branch offices to its network.

Banks 410

Banks Mortgages Loan Officer Due diligence 410

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. These are things you just might not know as a buyer — but your agent and loan officer can give you guidance!

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

HomeLight

JANUARY 27, 2021

So understand that unless you’ve been earning 1099 income for more than two years, it may not help you qualify for a home loan. Some loans, like VA or USDA loans, even allow you to put 0% down. and 1% of your loan amount, annually. And with most loans, you can drop mortgage insurance when you reach 20% equity.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity 84

Equity Marketing Loans Principal 84

Calculated Risk Real Estate

JUNE 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 94

Closing Equity Principal Short sale 94

HomeLight

JANUARY 31, 2022

You’re thinking about buying a house, but you aren’t sure what your mortgage loan (or monthly payment ) will look like. Still, to make your dream a reality, determining how to estimate a mortgage loan and how much you can spend is something you’re going to have to do. Source: (sarah b / Unsplash). as a down payment.

Loans 92

Loans Mortgages FHA loan Principal 92

HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. But maybe you’re a little unclear on what the different loan guidelines mean.

FHA loan 78

FHA loan Loans Debt-to-income ratio Closing costs 78

HomeLight

JUNE 22, 2023

You would add up all of your monthly debt payments, such as auto loans, mortgage payments, minimum payments on credit cards, student loan payments and installment debts,” explains Marcus Rittman from HomeLight Home Loans. That’s because lenders will also look at your debt-to-income ratio, or DTI. 2,000 / 8,333 ) X 100 = 0.36

Debt-to-income ratio 85

Debt-to-income ratio Mortgages FHA loan Loans 85

HomeLight

OCTOBER 5, 2020

On a government loan, it’s just mortgage insurance, or MI.) With a lower down payment, they’re lending more money, and you have less equity in the house. If home values were to suddenly slide, and you defaulted on your mortgage loan, they could end up with a higher mortgage balance due than the home is currently worth.

Mortgages 55

Mortgages Equity Loans Loan Officer 55

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. Basically, amortization is the preset schedule of mortgage loan payments, including interest, over time.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

Housing Wire

MARCH 29, 2022

Calvin Bradford, the principal of Calvin Bradford & Associates Ltd, and one of the authors of the original Community Reinvestment Act of 1977. They cannot, in other words, do what the Federal Reserve, OCC and FDIC can do: Compel depositories to catch up to nonbank lenders in their minority loan practice. But there was a catch.

Lending 370

Lending Banks Mortgages Loans 370

Notorious ROB

DECEMBER 19, 2022

To be fair, there were a number of big announcements, but the one I honed in on was this one: We plan to overhaul our current mortgage funnels away from third-party lead generation and toward Zillow Home Loans , and bolster our loan officers’ tools and capabilities to help the customers who come their way. Emphasis mine].

MLS 79

MLS Agents Pre-approval Brokerage 79

Marco Santarelli

JANUARY 3, 2021

Among the advantages of this strategy is that during the time that you hold the property and rent it out, the mortgage is paid down every month, decreasing your principal balance and increasing your equity in the rental property. Real estate is the only investment vehicle that you can live in or rent to produce income.

Investor 104

Investor Property Management As-is Equity 104

Housing Wire

FEBRUARY 7, 2022

HUD’s work co-leading the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), as well as the number of actions taken in the first year of the administration to bolster enforcement of the Fair Housing Act demonstrates our commitment to the issue,” a spokesperson said. Premium product.

Banks 370

Banks Lending Loans Mortgages 370