Housing Wire

SEPTEMBER 22, 2023

Kim: Bankruptcies and layoffs are still happening. Duncan: I was looking at the bankruptcy data. It’s just gotten back to the pace of bankruptcy we saw in 2019. It is true [consumer] bankruptcies have been rising but from extremely low levels. How far are we into the industry’s consolidation? So it happens quietly.

FHA loan 437

FHA loan Bankruptcy Marketing Loans 437

Housing Wire

NOVEMBER 10, 2022

The transaction follows Angel Oak Home Loans slashing 15% of its workforce, or 57 employees, in October. billion in volume in the last 12 months through 156 active loan officers and 39 branches, according to mortgage data platform Modex. Of the total volume, conventional loans accounted for 85.7% The lender originated $2.32

Loans 302

Loans Bankruptcy Loan Officer Lending 302

Housing Wire

AUGUST 3, 2022

The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said. The post New American Funding eliminates hundreds of jobs appeared first on HousingWire.

Bankruptcy 414

Bankruptcy Loan Officer Mortgages Loans 414

Housing Wire

JANUARY 19, 2023

The lawsuits quickly came pouring in, but Strauss never did seek bankruptcy protection for Sprout or its affiliates. The mystery as to what happened to its loan pipeline and funding endure. There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills.

Mortgages 393

Mortgages Bankruptcy Loans Investor 393

Housing Wire

JULY 1, 2022

FGMC filed for Chapter 11 bankruptcy protection in Delaware on Thursday, June 30. Despite receiving an award for her group’s performance in January 2022, Meyer was informed by the human resources team, Simons and Jewkes that she was being terminated or could accept a demotion to an hourly call center loan officer.

Loan Officer 333

Loan Officer Bankruptcy Loans Sales 333

Housing Wire

JULY 16, 2021

By both companies’ admission, a major key to Success’s success will be hiring loan officers. Stearns exited that company after it filed for Chapter 11 bankruptcy and bought by Blackstone Group , and he starred on the Discovery Channel’s reality TV show “ Undercover Billionaire ” before founding Kind. Presented by: SimpleNexus.

Mortgages 398

Mortgages Lending Bankruptcy Brokerage 398

Housing Wire

DECEMBER 27, 2022

Other smaller lenders, including real estate tech startup Reali and Sprout Mortgage , shuttered, while First Guaranty Mortgage Corp filed for Chapter 11 bankruptcy. Those who joined during the refi boom or didn’t build referral relationships have permanently exited the industry. Or will soon.

Equity 514

Equity Marketing Loans Bankruptcy 514

Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. SW: How do you fix that?

Mortgages 411

Mortgages Technology Loans Loan Officer 411

Housing Wire

NOVEMBER 2, 2020

Black Knight offers several advanced capabilities that integrate with loan origination systems, including Empower, to help lenders do more in less time, while reducing costs. Black Knight’s innovative default solutions help simplify complex loan processing for loans in default. Secondary Marketing.

Lending 396

Lending Bankruptcy Equity Loans 396

Housing Wire

FEBRUARY 8, 2022

The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners, gig workers and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies. It was kind of a no brainer, just low-hanging fruit.

Marketing 361

Marketing Lending Loans Bankruptcy 361

Housing Wire

NOVEMBER 10, 2020

“I wouldn’t chase that business because I have 46 loans in process that are fairly simple to do,” said Matt Gougé, a broker at Answer Home Loans in Folsom, California. And non-QM loans in my experience are harder.”. they hopefully cherish that referral source and work on all loans equally.”. And it doesn’t.

Debt-to-income ratio 424

Debt-to-income ratio Loans Banks Mortgages 424

HomeLight

JULY 30, 2021

Bankruptcy discharge papers. If your credit history is thin, the lender may look for other documents showing you keep up with your bills, though many lenders will require you to beef up your credit before considering you for a loan. Proof of assets, such as bank statements or investment account statements. Foreclosure documents.

Loans 98

Loans Mortgages Bankruptcy Purchase and sale agreement 98

Realty Biz

JANUARY 20, 2023

You'll need to provide documents such as: Valid ID and Social Security number Recent pay stubs W-2 or I-9 forms from the past two years Federal tax returns Recent bank statements Details on long-term debts like car or student loans Your loan officer, mortgage broker, or home lending advisor sends this information to the underwriter.

Title search 78

Title search Debt-to-income ratio Title Loans 78

HomeLight

OCTOBER 1, 2020

Bankruptcy documents. The very first step that must take place before a loan officer can submit your application for processing is that the seller must accept your offer. Underwriter reviews the loan. Last two months of brokerage account statements. Debts, financial history, and other obligations. Special circumstances.

Closing 75

Closing Purchase and sale agreement Inspection Loans 75

Redfin

MARCH 3, 2022

To avoid a closing delay or, even worse, the sale falling through, it’s essential to be upfront and honest with your loan officer. Give your loan officer full disclosure from the start – tell us everything. Any changes to employment status could force the lender to decline the loan even at this point.”.

Closing 62

Closing Title search Purchase and sale agreement Title 62

Realty Biz

SEPTEMBER 30, 2023

Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance. For example, you can get approved for an FHA loan with very low credit scores. By putting more money down, you may demonstrate your commitment and reduce the lender's perceived risk.

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

HomeLight

JULY 29, 2022

If you can’t secure new employment swiftly, you might be able to add a cosigner to your loan and count that person’s income toward your purchase. Talk to your agent and loan officer about these options. Problem: There’s an issue with the Closing Disclosure. By law, you will get your Closing Disclosure three days before closing.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

JUNE 30, 2022

Lenders will also want to know if you’ve ever declared bankruptcy or owned a house that went into foreclosure. VA loans for veterans, service members, and some surviving spouses offer 0% down to qualified borrowers, so this might be a great option if you belong in that category and want to finance all of your home purchase.

Purchase and sale agreement 73

Purchase and sale agreement Inspection Earnest money deposit Closing costs 73

HomeLight

SEPTEMBER 30, 2021

Another good bet is to speak to your friendly loan officer. Below is a rundown of some popular loan programs for first-time buyers. Department of Housing and Urban Development (HUD) — is a government-backed mortgage loan. This means that should you default on the loan, the FHA will protect the lender.

Loans 83

Loans Pre-approval Mortgages VA loan 83

Housing Wire

OCTOBER 10, 2023

That’s because real estate agents and loan officers are in survival mode and desperate to close new business. A CFPB enforcement action could “force already financially weakened lenders into bankruptcy,” Selden said. In turn, most of them made mortgage referrals to Freedom’s traditional retail loan officers.

Loan Officer 430

Loan Officer Loans Brokerage Mortgages 430

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.

MLS 79

MLS Agents Pre-approval Brokerage 79