Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Among mortgage brokers, Cohen ranked first. Cohen funded $751.4

Mortgages 363

Mortgages Marketing Loans Banks 363

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 326

Investor Sales Mortgages Loan Officer 326

Housing Wire

MAY 23, 2022

California-based nonbank mortgage lender Pennymac Financial Services will lay off 207 additional employees in June and July following a workforce reduction filing of more than 230 employees in March. Layoffs of 190 employees at Pennymac were first reported by National Mortgage News. Pennymac reported a pretax income of $234.5

Loan Officer 393

Loan Officer Loans Principal Mortgages 393

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. mortgage industry to fund $4.1

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. A mortgage rate lockdown freezes the housing market. The mortgage industry shrinking by more than half to an estimated $1.7

Equity 520

Equity Marketing Loans Bankruptcy 520

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. Such volatility has triggered turbulence in the mortgage market. The mortgage-backed securities (MBS) market went “no-bid” on Friday. Consequently, mortgage rates leapt like they hadn’t in decades.

Mortgages 382

Mortgages Loans Investor Equity 382

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. It is possible that the 30-year fixed mortgage rate may settle down at 5.5%

Marketing 302

Marketing Loan Officer Mortgages Lending 302

Calculated Risk Real Estate

SEPTEMBER 8, 2023

Refinance activity declined significantly in early 2022 as mortgage rates increased, and I was expecting MEW to also decline as fewer homeowners used cash-out refinancing. However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Mortgage debt is up $2.15

Closing 124

Closing Equity Principal Short sale 124

Calculated Risk Real Estate

MARCH 7, 2024

Refinance activity declined significantly in early 2022 as mortgage rates increased, and I was expecting MEW to also decline as fewer homeowners used cash-out refinancing. However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Mortgage debt is up $2.36

Closing 67

Closing Equity Principal Short sale 67

Housing Wire

MARCH 1, 2021

With low interest rates and a booming refinance market, it is natural that loan officers and brokers are focused on agency loans and also a thriving purchase market. There is also an increasing number of self-employed borrowers, who can qualify with a bank statement loan product.

Lending 366

Lending Banks Loans Investor 366

Realtor.com

APRIL 5, 2021

Getty Images What is an interest-only mortgage? It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. But unlike a conventional ARM, borrowers don’t build any equity in their home with an interest-only mortgage. “I

Loans 122

Loans Mortgages Principal Equity 122

Calculated Risk Real Estate

DECEMBER 7, 2023

Refinance activity declined significantly in early 2022 as mortgage rates increased, and I was expecting MEW to also decline as fewer homeowners used cash-out refinancing. However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Mortgage debt is up $2.23

Closing 69

Closing Equity Principal Short sale 69

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 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.

Banks 404

Banks Mortgages Loan Officer Due diligence 404

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgages 441

Mortgages Loan Officer Loans Equity 441

Marco Santarelli

MARCH 20, 2024

economy, where inflation remains a prevailing concern, the trajectory of mortgage rates plays a pivotal role in shaping the housing market. Despite the robustness of the economy, the specter of inflation looms large, potentially extending the duration of higher mortgage rates. In the dynamic landscape of the U.S. Outlook for the U.S.

Mortgages 52

Mortgages Marketing Lending Loan Officer 52

HomeLight

JUNE 30, 2021

It’s no secret that there’s lots to consider before buying a house, but one of the trickiest points for first-time buyers is often figuring out how to calculate a mortgage payment. With the help of HomeLight Home Loans expert Richie Helali, we’re going to review everything that goes into a mortgage payment (and what doesn’t!).

Mortgages 56

Mortgages Principal Loans Homeowner’s association 56

HomeLight

SEPTEMBER 30, 2020

Mortgage payments can take up a good chunk of your income, especially with a new home. And the interest you pay on that mortgage loan is nothing to sneeze at. In 1982, mortgage rates hit an annual average of 16.03%. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. It offsets the amount you need to borrow for a mortgage. The down payment is showing the bank that you’re putting some skin in the game,” says Helali. “The Mortgage insurance. Mortgage insurance.

FHA loan 98

FHA loan VA loan Loans Loan Officer 98

RIS Media

SEPTEMBER 21, 2021

She brings a mix of investment banking and a legal background into her work in real estate. While still serving in the military, Jackson earned his license as a loan officer in 2006 and shortly after opened Paradigm Institute Loan Officer and Mortgage Broker Training School. Wendy Holcomb. Julian Jackson lt.

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Loan Officer New Construction Brokerage Principal 97

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. This is because surging mortgage rates , upcoming regulatory changes and regional bank collapses have forced large depositories to pull back. We also sought input from industry experts, lenders and loan officers. billion), Bank of America ($20.4

Banks 355

Banks Marketing Loans Mortgages 355

HomeLight

AUGUST 31, 2022

With the days of stimulus packages and low mortgage interest rates in the rearview, Americans are steeling themselves for a future with the potential for economic uncertainty. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 made mortgage and other payments on time and.

Equity 102

Equity Finance Loans Closing costs 102

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Rocket Companies ($1 billion), United Wholesale Mortgage ($453.2 UWM had $303.4

Principal 380

Principal Banks Loans Lending 380

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage. Sound great? Sure it does!

Loans 97

Loans VA loan FHA loan Purchase and sale agreement 97

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? What type of home loans do you offer? Conventional.

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

HomeLight

JULY 25, 2022

From the down payment to the fees associated with getting a mortgage, it can seem overwhelming — and expensive. With the help of Richie Helali, a mortgage sales leader with HomeLight Home Loans , we’re here to break down exactly what prepaid costs are, how to calculate them, and when you’ll pay them. Mortgage interest.

Closing costs 96

Closing costs Earnest money deposit Loans Closing 96

Housing Wire

JUNE 1, 2023

The private-label and agency mortgage-backed securities (MBS) markets , the primary sources of liquidity for many mortgage lenders, are taking a beating so far this year. That dour performance mirrors what’s happening in the primary mortgage market — where origination volume is down drastically year to date in 2023.

Mortgages 373

Mortgages Loans Loan Officer Investor 373

HomeLight

OCTOBER 29, 2021

The average time to close a loan was 48 days in July 2021 , according to ICE Mortgage Technology, a company that produces mortgage management technology. Some of the steps can be carried out concurrently — you can lock in your mortgage rate while shopping for home insurance, for instance. Source: (Trey Gibson / Unsplash).

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Closing Inspection Title Due diligence 82

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ! Paying mortgage insurance isn’t that big a deal. Don’t let it!

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

APRIL 19, 2021

Jean Chou , the principal attorney at JLC & Associates , advises her clients who buy in smaller buildings to schedule their own inspections as part of the homebuying process. Sellers appreciate cash offers because of their faster timelines, as there’s no need to wait for a mortgage loan. Sellers love that,” says Hoffman.

Earnest money deposit 62

Earnest money deposit Inspection Due diligence Agents 62

HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

Debt-to-income ratio 86

Debt-to-income ratio Mortgages FHA loan Loans 86

Calculated Risk Real Estate

JUNE 8, 2023

Refinance activity declined significantly in early 2022 as mortgage rates increased, and I was expecting MEW to also decline as fewer homeowners used cash-out refinancing. However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. Mortgage debt is up $1.82

Closing 94

Closing Equity Principal Short sale 94

HomeLight

JANUARY 31, 2022

You’re thinking about buying a house, but you aren’t sure what your mortgage loan (or monthly payment ) will look like. Still, to make your dream a reality, determining how to estimate a mortgage loan and how much you can spend is something you’re going to have to do. Source: (sarah b / Unsplash). as a down payment.

Loans 93

Loans Mortgages FHA loan Principal 93

HomeLight

AUGUST 31, 2021

He swears it’s all thanks to the hard work of his mortgage broker. It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank. What is a mortgage broker? A mortgage broker is a liaison that helps coordinate a loan between a lending institution and a prospective borrower.

Mortgages 75

Mortgages Closing costs Loans Banks 75

HomeLight

OCTOBER 15, 2020

If you’re a would-be homebuyer searching for a home in a rural or even suburban area, you could potentially qualify for a United States Department of Agriculture (USDA) loan. These loans — like FHA and VA loans — are backed by the government. You can get a USDA loan with no money down on the house.

Loans 84

Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 84

HomeLight

JANUARY 18, 2023

In other words, it’s the amount of your home’s value minus any loans, mortgages, or other liens that are attached to your home. Equity can come from paying down your mortgage loan, gains from home appreciation, or adding upgrades that increase the value of your property. Mortgage rates are rising. As a whole, U.S.

Equity 85

Equity Marketing Loans Principal 85

HomeLight

JUNE 30, 2022

You also want to check your FICO score, as this is what the majority of lenders use ; you can often get your FICO score for free if your banking institution provides it, but otherwise you might have to pay for this service. Your mortgage lender will check your credit score , as well as analyze your credit history. Bank statements.

Purchase and sale agreement 73

Purchase and sale agreement Inspection Earnest money deposit Closing costs 73

Housing Wire

MARCH 29, 2022

What is not widely known is the role federal banking regulators play in letting this practice continue. These bank regulators only enforce the CRA when banks seek a merger or acquisition. Banks then quietly withdraw their application, rather than face a public denial. Photo provided by Calvin Bradford.

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Lending Banks Mortgages Loans 369