Housing Wire

NOVEMBER 30, 2021

Record-setting mortgage originations coupled with a resurgent private-label securitization market have created an expanding demand for loan underwriters at a time when they are in scarce supply. . The causes of the underwriter shortage are varied, but it is most pronounced in the private-label market, industry insiders contend.

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Due diligence Mortgages Loans Residential 397

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans.

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Due diligence Marketing Mortgages New Construction 397

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements.

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Lending Mortgages Due diligence Debt-to-income ratio 440

Housing Wire

APRIL 12, 2023

In the case of the real estate company, a spoofed email that purported to be from a real estate agent at the company directed a closing attorney to wire $154,000 in home-purchase funds to a bank account controlled by the fraudsters. bank accounts to various locations in West Africa via wire transfers.

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Industrial Banks Title Technology 381

Housing Wire

OCTOBER 29, 2020

HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. That gives us the ability to offer a span of comprehensive proven product options throughout the entire loan lifecycle.

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Due diligence Mortgages Title search Loans 403

Housing Wire

DECEMBER 3, 2021

This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. There was so much information to absorb and retain.

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Due diligence Loan Officer Banks Industrial 382

Housing Wire

APRIL 26, 2022

Karl Jacob, CEO and co-founder of LoanSnap , said the cyrpto-mortgage system his company has developed can originate more than just loans that LoanSnap mints. Our system I think is good enough that it can do not just the loans that we originate, but [loans originated by] other people,” Jacob said. It’s an open platform.

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Due diligence Mortgages Equity Loans 441

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

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Loans Marketing Due diligence Residential 347

Housing Wire

FEBRUARY 16, 2023

LauraMac, a provider of mortgage loan review SaaS technology, has appointed Rick Seehausen as its chief strategy officer. I look forward to working closely with Rick to leverage the success of our Loan Review System, prepare the launch of our Loan Acquisition System, and guide us in the development of new product lines.”

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Loans Principal Technology Development 359

Housing Wire

NOVEMBER 30, 2020

The Mortgage Collaborative, an independent cooperative network in the mortgage industry, today announced the launch of TMC Emerging Technology Fund LP, a venture capital program funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.

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Technology Mortgages Due diligence Commercial 370

Housing Wire

MAY 10, 2022

The problem: They did not qualify for the loans. Hill’s scheme, also enabled by a group of co-conspirators, caught up with him, in part because many of the loans started going south. Hill instructed the homebuyers on how to game the system by submitting fraudulent asset, income and employment information on loan applications.

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Mortgages Marketing Loans Finance 393

Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Careful due diligence is necessary to ensure you don't make any significant mistakes. Next, we'll explore financing options and the specifics of land loans, a critical step in acquiring land.

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Land Due diligence Title search Finance 126

Housing Wire

MAY 13, 2022

In 2008 when blockchain and its celebrity use case of BitCoin came into view, with breathless excitement discussions of complete decentralization of purchases and bank-less futures coursed freely through public discourse. Mortgage Industry and Blockchain: Early but Important Days. But this future is still taking shape.

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Due diligence Technology Banks Title 346

Realty Biz

SEPTEMBER 26, 2021

The most significant pressure will be increased mortgage default and prepayment risks, resulting in adverse selection of the type of loans sold to GSEs. They will also face higher risk due to the GSEs revising their requirements in response to climate change.

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Industrial Mortgages Due diligence Investor 108

RIS Media

MAY 26, 2023

Setpoint has acquired Resolute Diligence Solutions, a due diligence provider focused on Single Family Rental (SFR) and Residential Transition Loans (RTL). Resolute, according to a release, is the preferred partner by the world’s largest banks and private lenders as well as originators.

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Due diligence Lending Technology Residential 111

Housing Wire

AUGUST 11, 2020

In 2002, to protect lenders, I cofounded and organized an industry association called HAND, whose mission was to educate the mortgage industry on the proper utilization of seller funded DPA, and to curb risky practices. The industry learned from the mistakes of the past and so did I, as well as the entire team at the Chenoa Fund.

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Due diligence Loans Mortgages Development 414

Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. This includes bank statements, tax returns, pay stubs, credit report information, etc. Refinancing Options Most people choose to refinance their mortgage loans at some point.

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Mortgages Pre-approval Pre-qualification Due diligence 102

Housing Wire

NOVEMBER 16, 2022

trillion in loans, about half of 2021’s $4.4 trillion in volume, according to industry forecasters. But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. trillion to $1.7 trillion. trillion to $1.7 That’s an ugly scenario.

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Banks Mortgages Loan Officer Due diligence 404

Housing Wire

DECEMBER 9, 2021

Investment bank Goldman Sachs , through its affiliate Goldman Sachs Mortgage Co., has sponsored 18 private-label transactions so far in 2021 backed by more than 20,000 loans valued collectively at $9.9 Also, home-price appreciation means more loans are falling into the jumbo loan category.”.

Loans 403

Loans Due diligence Mortgages Residential 403

Realty Biz

SEPTEMBER 11, 2023

The real estate market in 2023 calls for more than just investment savvy; caution and due diligence have become equally essential. The conditions for obtaining a mortgage have become stricter, pushing some individuals into the territory of falsifying information to secure a loan.

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Due diligence Title Mortgages As-is 83

Fancy Pants Homes

JUNE 9, 2022

Oftentimes, people stick with their current lender even though there are better offers in the industry. Doing your due diligence on mortgage providers, asking for quotes from several different institutions, and consulting advisors from both leading and smaller providers can help you identify and lock in the best rates available to you.

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Mortgages Due diligence Equity Fixed-rate mortgage 59

Housing Wire

JANUARY 3, 2023

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. Personally, tracking the occurrences of over 2,700 VA loans through Vetted VA for 2021, I can tell you that professionals — who truly know the VA loan — don’t hate the current VA appraisal process.

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VA loan Loans Due diligence HR 78

Marco Santarelli

SEPTEMBER 19, 2023

By attending real estate courses and accessing resources, you gain valuable insights into the intricacies of the industry. Accessing resources such as books, podcasts, videos, and online forums can help you keep up with industry trends and stay informed about changes in the market.

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Purchase and sale agreement Finance Due diligence Investor 52

Broke Agent Media

APRIL 12, 2023

BAM Key Details: A TD Bank survey of 1,007 U.S. A TD Bank survey finds first-time homebuyers are optimistic about becoming homeowners, saying it’s a good time to buy—despite volatile mortgage rates and low inventory. More than a quarter of them (27%) plan to refinance their home loan when mortgage rates come down.

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Marketing Banks Due diligence Lending 52

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan.

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Purchase and sale agreement Title Proof of funds Pre-approval 97

Realty Biz

SEPTEMBER 14, 2023

Lenders Lenders, such as banks or mortgage companies, may also engage real estate attorneys to represent their interests in a transaction. Attorneys ensure that the loan documentation is executed correctly, review the terms and conditions of the mortgage, and confirm that the property's title is clear and suitable for collateral.

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Purchase and sale agreement Title search Title Due diligence 99

Housing Wire

JUNE 2, 2022

Morgan CEO Jamie Dimon is famously no fan of crypto, the bank dove into the enigmatic world of blockchain-based finance in 2020 with the launch of Onyx , a business unit devoted to exploring and expanding the use of blockchain technologies. . also recognize the industry-changing potential of blockchain-enabled technology. .

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Equity Due diligence Technology Investor 393

Marco Santarelli

JULY 26, 2020

You can own residential, commercial, and industrial real estate property. Then you don’t end up cutting into your cash flow with high-interest hard money loans to pay for the little repairs needed to legally rent out the unit or hit your credit cards to pay contractors. The mortgage note spells out the loan duration.

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Loans Equity Renovation Property Management 144

Housing Wire

JANUARY 5, 2022

SitusAMC subsidiary Securent is expanding its reach into the private-label market with plans to soon introduce a loan-defect insurance product for residential mortgage-backed securities (RMBS) transactions, according to executives from both companies. Nobody else has done loan-defect insurance for securitizations yet.”.

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Due diligence Marketing Loans Mortgages 384

HomeLight

OCTOBER 30, 2020

Maybe you aren’t using a loan, but you can still run into cash flow issues. Real estate contract contingencies are commonly associated with getting a mortgage, as lenders tend to do their due diligence on a property before they’ll put up the money for it. “Wait a minute,” you’re probably thinking. Property survey.

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Closing Inspection contingency Title search Purchase and sale agreement 111

HomeLight

FEBRUARY 14, 2022

This includes perspective from Margaret Labus , a real estate agent in the Lake Geneva , Wisconsin, area, who has 18 years of industry experience. It’s not terribly common to rent-to-own because most of the people who are in the rental situation are those who, for whatever reason, can’t get financing the conventional way through a bank.

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Purchase and sale agreement Due diligence Finance Equity 84

Housing Wire

APRIL 20, 2022

This understates the true purpose of an eVault, which is to reliably establish the person or entity to whom the single, transferrable record of the digital loan is assigned, issued or transferred. Non-bank lenders that originate to sell loans will appreciate how quickly eNotes can move on and off warehouse lines and, ultimately, to investors.

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Lending Due diligence Investor Technology 360

HomeLight

DECEMBER 30, 2021

Here to help is top Chicago -based real estate agent Debra Dobbs , whose 37 years in the industry have made her a true documentation expert. We’ll also hear from Richie Helali of HomeLight Home Loans for an inside scoop on the loan-related documents for buying a house. Loan Estimate. Grab a pen and let’s review!

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Purchase and sale agreement Title Closing costs Seller disclosure 85

HomeLight

MARCH 30, 2022

According to the loan software firm ICE Mortgage Technology, it took 54 days on average to close a home purchase loan in December 2021. Since you don’t have to wait for a third party to approve a loan or appraisal, you’ve got flexibility on your closing date so you can move when it suits your schedule.

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Sales Investor Renovation Due diligence 95

HomeLight

MARCH 13, 2023

Booming tourism industry spurs investor activity With warm weather and popular attractions like Walt Disney Disney World and Universal Orlando Resort, Orlando is one of the country’s top tourist destinations with nearly 60 million visitors each year. The buyer does due diligence during the option period in Florida.

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Sales Investor Due diligence Renovation 81

HomeLight

JANUARY 25, 2021

McCorkel follows the flipping industry standard known as the 70% rule, which stipulates that an investor will offer no more than 70% of a property’s after-repair value , or ARV, for a house they plan to flip. If you’re going to sell your house for cash, make sure you do your due diligence on the buyer. Next steps.

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Purchase and sale agreement Investor Inspection Due diligence 105

Norada Real Estate

FEBRUARY 21, 2022

However, it requires due diligence, on your part, to ensure you get the best return on your investment. If you do it right, you can put yourself on the road to success with cash regularly flowing into your bank account. A bank or other lender will generally give you 80% of the purchase price. How good is that?

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Purchase and sale agreement Investor Due diligence As-is 111