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Desperate for deals, mortgage pros get creative

Housing Wire

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

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Down payment assistance programs are a boon amid mounting pressure on homebuyer affordability

Housing Wire

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

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How originators can capitalize on reverse mortgage business in light of the changing housing market

Housing Wire

HousingWire recently spoke to Jonathan Scarpati, Senior Vice President of Wholesale Lending at Finance of America Reverse, about tapping into the reverse mortgage market in light of the changing market. . By 2050, 20% of Americans will be 65 or older. And they’re sitting on an estimated $10 trillion in home equity.

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. .

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Finance of America Chief Product Officer: reverse mortgages ‘important’ to diverse product range

Housing Wire

While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company.

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FHA borrowers hit first, hardest by sinking economy

Housing Wire

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. As a result, the overall impact of higher inflation can be severe for this group.

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

Housing Wire

New York-based digital lender Better.com has shifted its strategy ahead of its initial public offering (IPO). According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. The change resulted in Better’s exit from its real estate business. We aim for a similar mix.”