Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. For real estate professionals, this option presents an opportunity to capture more sales.

Finance 430

Finance Seller concession Loan Officer Loans 430

Housing Wire

OCTOBER 10, 2023

That’s because real estate agents and loan officers are in survival mode and desperate to close new business. Although RESPA prohibits quid pro quo payments, known as kickbacks, it allows for so much else, leaving room for interpretation. And the market has gotten much darker over the last few years.

Loan Officer 416

Loan Officer Loans Brokerage Mortgages 416

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” points from the 7.5%

VA loan 444

VA loan Agents Seller concession FHA loan 444

Housing Wire

OCTOBER 4, 2022

Closing fee-related compliance tool provider LodeStar is integrating with title insurance provider Stewart , the companies said Monday. Users can also streamline cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE).

Title 401

Title Loan Officer Closing costs Closing 401

Housing Wire

APRIL 3, 2024

mortgage lender United Wholesale Mortgage (UWM) is the target of a class-action-seeking lawsuit alleging it orchestrated a scheme with mortgage brokers to apply excess fees and costs to borrowers. The wholesale lender called the accusations a “sham.” The lawsuit was filed on Tuesday in a Michigan district court by Therisa D. Escue, Billy R.

Loans 449

Loans Loan Officer Mortgages Closing costs 449

Housing Wire

SEPTEMBER 7, 2023

At a time when affordability is constraining first-time buyers from entering the market and interest rates are still expected to climb, “it’s going to do nothing but hurt the potential buyer,” argued Michael Borodinsky, a vice president and branch manager at Caliber Home Loans. “You’ve

Agents 382

Agents Loan Officer Lending MLS 382

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? What are the pros and cons?

Seller concession 433

Seller concession Loan Officer Closing costs Mortgages 433

Housing Wire

FEBRUARY 15, 2024

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. Every call I get, if they are first-time homebuyers, they ask, ‘Where can I get money for a down payment or closing costs?’”

FHA loan 440

FHA loan Loans Closing costs Loan Officer 440

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. Longbridge Financial, LLC, (NMLS #957935) believes that the answer to this dilemma is the HECM/Reverse for Purchase financing option.

Loan Officer 383

Loan Officer Equity Finance Loans 383

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. . The following five accounts showcase how lenders and loan officers can use TikTok to brand themselves as well as entertain and educate home buyers. . followers, 11.7

Loan Officer 370

Loan Officer Loans Branding Mortgages 370

Housing Wire

AUGUST 5, 2020

For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. 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.”.

Mortgages 521

Mortgages Loan Officer Lending Loans 521

Housing Wire

APRIL 8, 2024

The comments follow a Hunterbrook Media report from last week stating that UWM pressures brokers to send loans its way, resulting in higher costs to customers. “We think the premise of the thesis is misplaced,” Eric Hagen and Jake Katsikas wrote in the company’s weekly mortgage finance roundup.

Loans 300

Loans Loan Officer Mortgages Closing costs 300

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. He left in February. This is not unique to UWM brokers.

Fixed-rate mortgage 377

Fixed-rate mortgage Loans Mortgages Loan Officer 377

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

Construction 393

Construction Loans Loan Officer New Construction 393

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% About 19.4% from the Midwest, 16.8%

Mortgages 316

Mortgages Loan Officer Marketing Seller concession 316

Housing Wire

FEBRUARY 3, 2023

The Lock ‘n’ Roll program is eligible for conventional and government fixed-rate loans, with the lock period being a minimum of 60 days, according to its website. With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex.

Loans 342

Loans Loan Officer Closing costs Mortgages 342

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 306

Lending Banks Loan Officer Loans 306

Housing Wire

FEBRUARY 19, 2021

Your lender is going to require an adequate home insurance policy before they’ll close on your loan. If you forget to secure one or your policy start date doesn’t align with your closing, it could throw things off schedule. Errors on homebuyer loan docs. Are you on the hunt for a new home? Home insurance hiccups.

Loans 532

Loans Loan Officer Closing costs Closing 532

Housing Wire

FEBRUARY 10, 2022

The government-sponsored enterprise saw a 20% growth in its single-family mortgage portfolio from 2020 to 2021, driven by soaring home prices and an increase in the average size of loans it acquired. trillion in single-family loans in 2021, about two-thirds of which were refinances. It reported $2.7 Overall, Freddie Mac purchased $1.22

Loan Officer 391

Loan Officer Finance Loans Banks 391

Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. In fact, they could actually cost you more (often significantly more) if used incorrectly. Considering other loans require anywhere from 3% to 10% down at minimum, this can mean serious savings from the start.

Mortgages 424

Mortgages VA loan Loans Loan Officer 424

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. Pre-approval. This is sometimes called “prequalification,” depending on your mortgage lender.

Fixed-rate mortgage 414

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 414

Realtor.com

NOVEMBER 11, 2022

Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more. Step 2: Qualify for a home loan or loan pre-approval. Step 3: Learn how a loan officer can help. Step 1: Why financing is the key to buying a new home.

Pre-approval 131

Pre-approval Pre-qualification Debt-to-income ratio Loan Officer 131

Housing Wire

MAY 12, 2022

Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. Rates are rising. Refinances are falling. We’re not cavepeople.

Lending 309

Lending Marketing Pre-qualification Pre-approval 309

Housing Wire

OCTOBER 20, 2023

With its potential to reach new clients and gain tremendous ROI, social media has become one of the most effective marketing tools for businesses big and small. We’ve compiled this list of savvy real estate social media post ideas to inspire your social strategy and keep your Instagram feed fresh and fun.

Agents 359

Agents Lending Staging Renovation 359

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? What are the pros and cons?

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

Housing Wire

SEPTEMBER 16, 2020

Let’s start with the recent 30-year fixed rate cash-out refinance, which was introduced last week on conventional loans, with rates between 2.5% So that means that if they’re doing a cash-out and they have a 70 loan-to-value, Fannie Mae will charge them three quarters of a point. and 2.99%. UWM CEO Mat Ishbia.

Mortgages 457

Mortgages Marketing Title Loans 457

Realty Biz

JANUARY 19, 2024

Take a close look at your income, expenses, and existing debts. Research different types of mortgages available, such as conventional, FHA, or VA loans. Consider additional costs beyond the mortgage payment, such as property taxes , homeowner's insurance, and maintenance expenses.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

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. , for an FHA loan. So $3,000 would be enough for an approximately $85,000 loan, although that’s way below today’s median home price of $300,000.”

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

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. “I joined the military when I was 18. “In one day, I changed cities, I changed jobs and I bought a house.

Loan Officer 98

Loan Officer Closing costs Finance Loans 98

Housing Wire

MARCH 1, 2021

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing. Let’s admit it.

Closing 237

Closing Marketing Title Title search 237

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

Realtor.com

NOVEMBER 27, 2022

“If you are shopping for rates, let the lenders know that upfront and ask for a loan estimate,” advises Laura Nickolay of White Oaks Wealth Advisors, Inc. Step 3: Receive your loan estimate and disclosures. Lenders are required to provide your loan estimate and disclosures within three days of your application.

Mortgages 111

Mortgages Closing costs Loans Loan Officer 111

HomeLight

JUNE 20, 2023

Closing is a vastly different experience for homebuyers and home sellers. Closing signifies the end: a time to cash the check and move on. Connect with a Top Agent to Sail Through to Closing Working with a top agent can help you get to closing day faster — and get you more for your home sale.

Closing 98

Closing Purchase and sale agreement Title Title search 98

HomeLight

JUNE 19, 2023

There are tons of programs out there to help buyers get into homes, from loans that offer down payments as low as 3%, to special grants for first-time buyers. Though many loan programs go as low as 3% down, that’s still beyond the means of many homebuyers — especially those in hyper-competitive or expensive real estate markets.

FHA loan 102

FHA loan Closing costs Loans VA loan 102

Real Trends

JANUARY 4, 2023

The moving experience continues to be a daunting process, especially for first-time buyers who are learning how to grapple with competitive listings, unexpected costs, and complex timelines. 2) A top surprise of first-time buyers was the cost. Many of those new agents reaped the benefits. The good news?

Closing costs 81

Closing costs Inspection Title Agents 81

Realtor.com

MARCH 8, 2021

Read on to learn how home construction loans work, how they differ from conventional mortgages, what you need to qualify, and what happens once your home build is complete. What is a construction loan? Construction loans are considered riskier than standard home loans, since no house exists that the lender can secure as collateral.

Loans 120

Loans Construction Land Finance 120

HomeLight

JULY 25, 2022

But once your offer is accepted and you get into the homebuying process, the costs just seem to keep racking up. 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. Which costs are prepaid when buying a home?

Closing costs 98

Closing costs Earnest money deposit Loans Closing 98