Housing Wire

SEPTEMBER 2, 2022

has unveiled the latest version of its proprietary artificial-intelligence (AI) platform, called Morgan, which enables the lender to convert pre-approved, property-specific home loans into tradable non-fungible tokens (NFTs). To ensure the NFT is traded as agreed, the NFT seller (homebuyer) has two choices.

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Technology Earnest money deposit Loans Pre-approval 90

Housing Wire

JUNE 22, 2023

These funds can be utilized to consolidate debts or finance home improvement projects. This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval. Borrowers receive 100% disbursement of funds, with no costs due at closing. The Loan Store, Inc.

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Loans Pre-approval Equity Lending 370

Housing Wire

JUNE 9, 2025

A rough guide to ChatGPT for real estate agents ChatGPT is an artificial intelligence (AI)-powered chatbot that can understand and generate human-like text and images. Think of it as a very smart assistant that never sleeps, never gets tired and (almost) never complains. Oh, and it’s also getting smarter and faster every day. The downside?

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Housing Wire

NOVEMBER 20, 2023

In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business. An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing.

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Pre-approval Agents Loan Officer Seller concession 456

Housing Wire

SEPTEMBER 21, 2023

The PowerVP app will create new loans; invite customers to complete a digital mortgage; send a one-click conditional approval letter; lock in rates ; obtain real-time pricing and run a credit report, the company said in a release. billion in the first six months of 2023, according to data from Inside Mortgage Finance.

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Pre-approval Loans Finance Mortgages 410

Housing Wire

JULY 4, 2024

Current market challenges The real estate market is currently characterized by a complex interplay of factors: Interest Rate Volatility: Fluctuating interest rates have made it difficult for potential buyers to predict the cost of financing a home. This dream, however, seems to be facing challenges.

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Pre-qualification Pre-approval Seller concession Finance 450

Housing Wire

NOVEMBER 14, 2023

We will cover the costs of collecting and disseminating rent payment data for a 12-month period for multifamily property owners/operators of Fannie Mae-financed properties who leverage one of the three approved vendors to collect the data,” Fannie Mae said in a blog post.

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Pre-approval Loans Finance Mortgages 450

Housing Wire

JANUARY 20, 2021

Getting approved for a loan is only part of the battle. But the truth is, when lender’s pre-approve homebuyers, they don’t always take into account monthly payments. But the truth is, when lender’s pre-approve homebuyers, they don’t always take into account monthly payments. Buying a home?

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Debt-to-income ratio Pre-approval Mortgages Loans 432

Housing Wire

DECEMBER 22, 2020

Pre-approval. They’ll need a small amount of information about your income and finances, and if all looks good, they’ll give you a preapproval letter stating how much money you can likely borrow. They’re best if you plan to move before the rate can adjust or if you’re willing to refinance not long down the line. Earnest money.

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Fixed-rate mortgage Pre-approval Mortgages Loan Officer 421

Housing Wire

JANUARY 18, 2022

Clients will be able to finance 100% of their purchase…and do this faster than a conventional mortgage,” the company said. “By ” Per the company’s website , it takes five minutes to receive a pre-qualification for a mortgage, though final approval is conditional on finishing the application and providing supporting documents.

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Mortgages Pre-qualification Pre-approval Lending 485

Housing Wire

JANUARY 31, 2023

Even if I write seven pre-approvals a day, when there is one house and there’s 20 people that want to buy the same house, we still can’t do a lot of deals,” Marquis said. I know that sounds crazy, but we have a lot of clients reaching out for pre-approvals. That’s our biggest issue in Boston.”

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Loans Pre-approval Closing Marketing 394

Housing Wire

MARCH 4, 2021

” The traditional verification approval process can be lengthy: A mortgage pre-approval can take up to two weeks , and the entire mortgage process can take one to two months. .” The post Plaid unveils Income to aid customer finance appeared first on HousingWire. million in funding. billion merger.

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Finance Pre-approval Banks Technology 229

Housing Wire

JANUARY 18, 2023

Columbus, Ohio-headquartered lender Lower rolled out mortgage as a service platform that enables consumer finance, banking and real estate companies to offer its mortgage products. . iBuyer Opendoor is Lower’s first mortgage platform customer, which Snyder said will help the platform expand its reach. . population.

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Mortgages Pre-approval Lending Finance 384

Housing Wire

JUNE 3, 2024

The core skills of Roof AI revolve around functions such as searching for properties, finding an agent and starting the mortgage financing process. “We For specific questions such as ‘What’s the difference between pre-approval and a prequalification?’ “For Michel Moubarak, vice president of growth at Roof AI, told HousingWire.

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Technology Sales Pre-approval MLS 440

Housing Wire

MAY 24, 2024

If you’re considering buying a home but worry that student debt will prevent you from securing a mortgage, you’ll need to be strategic about your approach to increase the probability of your application getting approved. A higher credit score is generally associated with high reliability, improving your chances of a mortgage approval.

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Debt-to-income ratio Loans Pre-approval VA loan 439

Housing Wire

AUGUST 23, 2023

and Aurora are creating Better Home & Finance Holding Company , which will have Class A common stock listed on the Nasdaq under the ticker “BETR” starting Thursday. Garg will be a director at Better Home & Finance, the same position as Prabhu Narasimhan and Arnaud Massenet, managing partners of NaMa Capital. Better HoldCo, Inc.

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Closing Pre-approval Finance Title 370

Housing Wire

JANUARY 25, 2023

Embattled digital lender Better.com launched a program that will allow customers to apply for a mortgage, get pre-approved, lock their rate and receive a mortgage commitment letter within 24 hours. billion in production volume as of September 30, a decline of 76% from the same period in 2021, Inside Mortgage Finance data showed.

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Pre-approval Mortgages Finance Loans 384

Housing Wire

DECEMBER 7, 2023

While the conservatorship has allowed for the mortgage market to be restored to its pre-crisis state and strengthened these two government-sponsored entities (GSEs), there are significant downsides to maintaining the status quo indefinitely. Obviously, that has not happened. So how do we get there? Is there a role for Congress?

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Pre-approval Mortgages Development Lending 545

Housing Wire

JULY 21, 2022

“With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples. “As

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Bankruptcy Banks Pre-approval Principal 397

Keeping Current Matters

NOVEMBER 30, 2020

Understand Your Finances. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. Make a Fair Offer.

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Inspection contingency Pre-approval Inspection Staging 343

Keeping Current Matters

MARCH 15, 2021

Understand Your Finances. The best way to know this is to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. offers and is on the market for just 21 days.

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Inspection contingency Pre-approval Inspection Staging 337

Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Mortgage credit availability remains tighter than it was pre-pandemic.

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Debt-to-income ratio Equity Pre-approval Finance 384

Housing Wire

FEBRUARY 28, 2023

Current and former Amazon employees who have vested equity in the company will be the first group to have access to this home financing product, according to a prepared statement. “At Better, our mission is to make homeownership cheaper, faster and easier for all Americans,” Better CEO and founder Vishal Garg said.

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Equity Pre-approval Loans Finance 384

Housing Wire

APRIL 4, 2022

million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8 The purchase price “represents a $72.5 Presented by: 1000watt.

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Closing Mortgages Loan Officer Pre-approval 370

HomeLight

JUNE 19, 2023

Like pre-qualification or pre-approval. Let’s lay it all out: How pre-qualifications and pre-approvals are similar Pre-qualifications and pre-approvals have a few things in common. Learn More What’s a pre-qualification? And voila, within minutes, you have a pre-qualification.

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Pre-qualification Pre-approval Mortgages Loans 97

Housing Wire

JANUARY 26, 2022

Ribbit Capital led the financing, which also included participation from partners of DST Global , NFX and Zigg Capital. The digital mortgage lender advertises that it creates pre-approvals for its customer within hours, not days, charges no lender fees, and ensures on-time closings 100% of the time. Presented by: Mr. Cooper.

Mortgages 368

Mortgages Pre-approval VA loan Lending 368

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. First, he has his clients lender call the listing agent. Somebody has a problem once and then that story just spread.

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VA loan Agents Pre-approval Debt-to-income ratio 397

Housing Wire

JANUARY 31, 2023

The right product mix When Finance of America Companies closed its forward mortgage origination unit in October, Steven Reich, a former COO at Finance of America Mortgage , and some branch managers wanted to stick together as a pack. Go [Mortgage] was on that list,” Reich said. They weren’t so small that they couldn’t handle us.”

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Loans Mortgages Loan Officer Pre-approval 397

Housing Wire

FEBRUARY 9, 2022

and get a pre-approval for a mortgage from the comfort of your own laptop. Yet, there remains a dark cloud over the general perception of the part of the process that occurs somewhere between the signing of the sales agreement and the exchange of house keys — the mortgage approval and settlement/closing process.

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Industrial Purchase and sale agreement Pre-approval Banks 397

Lighter Side of Real Estate

SEPTEMBER 12, 2023

If you’ve been searching for a house for any amount of time, you’re probably well aware of how important it is to get a mortgage pre-approval before you even start looking at houses, or at least as early on in the process as possible. When Should You Update Your Pre-approval? Pre-approvals aren’t good forever.

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Pre-approval Debt-to-income ratio Mortgages Marketing 126

Housing Wire

FEBRUARY 10, 2022

The ‘housing super app,’ according to investor slides filed with the Securities and Exchange Commission, will provide mortgage pre-approval, “immersive shopping,” facilitate in-person touring, and home financing. Suspense built as Zillow has kept a low profile since. On Thursday, we got an answer – A super app. “We million U.S.

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Pre-approval Mortgages Agents Finance 397

Housing Wire

JANUARY 14, 2021

The Boston-based company functions as an adviser and marketplace for customers looking for mortgage financing. Consumers can also use Own Up to determine loan approval status and for how much, as well as the ability to compare lenders and pre-qualified loan offers, the company said.

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Pre-approval Technology Loans Branding 326

Housing Wire

MARCH 6, 2023

“I’ve got several pre-approvals out there where people just can’t find what they want and the rates are throwing them off,” Monsoon said. This means LOs need to find ways to ease the financing pain for borrowers on a case-by-case basis. Existing homeowners who locked in mortgage rates or refinanced to the 2.5%

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Loan Officer Loans Pre-approval Mortgages 384

Housing Wire

DECEMBER 20, 2021

The four-bed property was perfect for the pre-Covid reality, but it is challenging to afford right now. In July 2020, he lost his job as an editor at a consulting firm for spa professionals. By that point, his wife, fearing infection, had already decided to resign as a part-time assistant teacher to stay home with their three kids.

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Pre-approval Loans Mortgages Principal 394

Housing Wire

JUNE 20, 2024

The fourth quarter of 2023 was the seventh straight quarter of net production loss for lenders , who hemorrhaged an average of $2,109 pre-tax dollars for each loan they originated. The latest figures , out this week, show some improvement—but lenders were still in the red, this time for the eighth consecutive quarter.

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Loan Officer Pre-approval Technology Lending 415

Housing Wire

JULY 3, 2023

billion, according to data from Inside Mortgage Finance. We’re certainly putting out in both the social media and through our local retail offices that we want the right loan officers,” Lugat added. While mergers and acquisitions (M&A) is an option for PrimeLending, it’s a challenging market to execute such deals. Nearly 92% of U.S.

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Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

Housing Wire

OCTOBER 22, 2023

Texas residents interested in becoming a real estate agent must first complete 180 hours of approved coursework to be eligible to sit the state licensure exam. That’s a longer program than in most states. We estimate that it’ll take three to six months to get up and running as a licensed real estate agent in the Lone Star State.

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