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Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. Non-QM loans are those that cannot be purchased by the GSEs. He also previously served as CEO of Canopy , a third-party review firm. “And

Loans 395
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Risk of mortgage fraud is on the rise in the current market

Housing Wire

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). The problem: They did not qualify for the loans.

Mortgages 393
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What to Know About FHA Loans

Realty Biz

Are you trying to decide the best mortgage options for buying your first home? Though these are government-backed mortgages, mortgage lenders underwrite and administer the loans. These mortgages are fixed rates, and you can choose between 15 and 30-year terms. FHA loans allow you to pay 3.5% What Do FHA Loans Offer?

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Pre Approval vs Pre Qualified vs Underwritten Pre Approval: What’s It All Mean?

HomeLight

When you’re getting ready to start looking for homes, you’re probably dreaming about more space, a big backyard, or a garage, rather than low mortgage interest rates. Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? Bank statements. Don’t let that be you! Prequalification.

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Working Distressed Properties: How to Navigate and Win in This Evolving Market

HomeLight

You’ll learn how to prospect for distressed properties, how to approach homeowners, how to work with banks, and much more that will position you as the local expert with solutions to help those in need. We have a great listener question about how to become a bank’s go-to agent and much, much more. Christina: Sure.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved. By far, one of the biggest nightmares is that the mortgage falls through on the closing day.

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Passive Income Ideas: 25 Ways To Earn More Money In 2020

Marco Santarelli

We are not suggesting using crowdfunding instead of applying for a mortgage. You can choose the loan duration, whether they’re using crowdfunding to save money on hard money loans or in place of a mortgage. Yet you’re legally obligated to pay the carrying costs such as the payments on a hard-money loan, mortgage, and insurance.

Lending 135