Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. HousingWire reported on the late-stage negotiations in January.) “The These penalties are usually imposed on lenders when a borrower pays off their loan within four to six months of closing, but in some cases, it can be up to one year.

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Loan Officer Loans Lending Mortgages 435

Housing Wire

APRIL 1, 2024

Today’s unique market requires flexibility and a pricing engine that empowers lenders and their loan officers to put the right loan products in front of borrowers. HousingWire spoke with Parvesh Sahi, chief revenue officer of Polly , about the importance of having the right PPE and strategic pillars that facilitate LO success.

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Housing Wire

NOVEMBER 20, 2024

Mortgage , which has 330 sponsored loan officers across 39 active branches, expects that most credit bureaus will raise their prices as well. “By “FICO set the stage for the pricing increase with their 40% increase this year. To start, FICO’s wholesale price hike translates to an additional $1.45 ” Metz said.

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Mortgages Loan Officer Loans Closing costs 435

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. Consequently, 37% of homeowners say they want to move but are staying in their current home.

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Backup offer Loan Officer Home sale contingency Branding 448

Housing Wire

OCTOBER 1, 2024

Pre-CTC review processes : In a proactive shift, some lenders are moving their QC efforts earlier in the loan process, conducting pre-clear-to-close (CTC) reviews. By identifying potential discrepancies and compliance issues upfront, lenders can prevent more significant problems from surfacing post-closing.

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Loans Pre-approval Marketing Staging 432

Housing Wire

JUNE 16, 2023

SimpleNexus , a homeownership platform developer for loan officers, borrowers, real estate agents, and settlement agents, announced this week a new integration with Empower, the loan origination system (LOS) from Black Knight. ” SimpleNexus , an nCino company, is a developer of mobile-first technology for mortgage lenders.

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Loan Officer Technology Loans Banks 370

Housing Wire

OCTOBER 9, 2024

Hinshaw said the LES technology integrates with loan origination software, enabling it to calculate income, assets and other qualifying criteria within FHA guidelines. The system generates and clears “dynamic, loan-specific conditions” and is backed by a warranty from a AAA-rated insurer for up to 60-months post-closing.

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FHA loan Loans Technology Loan Officer 459

Housing Wire

MAY 11, 2023

The Flueid Decision integration, built on the Encompass Partner Connect API Platform, provides greater transparency and awareness of the property’s title condition from borrower engagement through closing, according to the company.

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Housing Wire

JUNE 20, 2024

At every stage of the origination process, too many lenders are doing things the same, ineffective, costly way they always have despite the availability of better, cheaper alternatives. To combat this, loan officers must be incentivized to embrace innovation. In closing, I invite readers to join the conversation.

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Loan Officer Pre-approval Technology Lending 448

Housing Wire

SEPTEMBER 12, 2024

We’re at that stage of this cycle where the Fed, on purpose, went to attack the labor market more than inflation ,” he says. To close the conversation, Mohtashami offers key tips for solving housing affordability issues. He also speaks to the Fed’s attack on the overall labor market in an effort to justify pending rate cuts.

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Housing Wire

MARCH 15, 2021

Retail lenders originate loans through their in-person retail branches. Typically they rely on branch traffic, referral partners, and in-branch loan officers interacting with potential borrowers face-to-face to originate loans. These powerful data insights are instantly actionable by the loan officer.

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Lending Mortgages Loan Officer Loans 418

Housing Wire

MAY 6, 2024

Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer. Is it closing on time? Is it getting through the process with fewer “touches” or interruptions?

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Title Loan Officer Technology Agents 442

Housing Wire

NOVEMBER 29, 2021

One group of industry players — loan underwriters — are the chief cause of the logjam. They are in high demand for each stage of the mortgage process, yet they are in seriously short supply in a still-booming mortgage market. They don’t underwrite every loan in an MSR trade,” he explained.

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Due diligence Loan Officer Loans Mortgages 488

Housing Wire

NOVEMBER 1, 2023

Add context about why you’re asking for specific information at every stage. In the run-up to 2008, many lenders emphasized low introductory mortgage rates and weren’t required to disclose the final terms until closing day. Tooltips can be a powerful way to do so; they give borrowers the flexibility to toggle explanations.

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Loans Fixed-rate mortgage Lending Loan Officer 435

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

SEPTEMBER 16, 2020

as a $400,000 loan including cash out, they get a… quarter of a point, or $1000 credit toward their closing costs. We’re closing loans in 15, 16, 14, 13 days. It seems like a lot of lenders are getting hung up once they reach that stage. If they’re working with a broker that charges 1.5

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Mortgages Marketing Title Loans 488

Housing Wire

APRIL 25, 2023

The goal of Asset Analysis is to automate the labor-intensive process of reviewing assets and multiple bank statements during underwriting to determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction.

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Lending Banks Loan Officer Loans 396

Housing Wire

DECEMBER 12, 2022

A faster title commitment should equal a faster closing, right? While reducing the time it takes to close a loan by a day is nice, shouldn’t we be trying to shave off a week or more instead? That intelligence allows the lender to proactively address curative issues in concert with other early-stage workflow steps.

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Title Mortgages Loans Loan Officer 418

Housing Wire

FEBRUARY 28, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Being close to the naval base also attracts a lot of military personnel to the city. Making sure that the house is staged properly and marketed well is really important,” she said.

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Marketing Loan Officer Renovation Staging 418

Housing Wire

MAY 8, 2023

My father had been diagnosed with stage four liver failure at that time, and we were aggressively looking for a home so he could move in with my family. I have been in the mortgage industry for nine years, with my loan officer in the industry for 19 years and my Realtor for over 10 years. Were we lucky? Maybe a little bit.

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VA loan Mortgages Marketing Loans 418

Housing Wire

OCTOBER 6, 2020

Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used. Borrowers were not comfortable turning over their credentials to loan officers or processors. In other cases, the loan officers didn’t trust the technology.

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Technology Mortgages Loan Officer Loans 476

Housing Wire

SEPTEMBER 8, 2023

If you’re in the real estate industry, you certainly know that the average time from mortgage application to closing has been hovering around 50 days. Much of that average time to close tends to pile up in the title and settlement stage of the process. More closings are happening remotely via convenient, digital processes.

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Title Purchase and sale agreement Technology Closing 418

Housing Wire

AUGUST 31, 2020

Automation has been applied fairly well to both the front office and back-office sections of the mortgage life cycle, he said, citing tools like point-of-sale and loan officer portals on the front-office as well as the acceleration of digital closing capabilities on the back-office, but there are still opportunities for improvements to the process.

Lending 435

Lending Technology Loans Loan Officer 435

Housing Wire

OCTOBER 20, 2023

Share your closing gifts If one of your strengths is finding personalized closing gifts for your clients, then show that off on social media. This could include posting information regarding down payments, typical closing costs to expect, first-time homebuyer programs available, and tips on navigating lending.

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Agents Lending Renovation Staging 435

Housing Wire

OCTOBER 7, 2020

Its Enterprise Solutions group includes title and closing service providers WFG Lender Services, WFG Default Title Services and Valutrust Solutions, a national appraisal management and property valuation provider. Another important landmark in 2015 was the addition of WFG Board Member Steve Ozonian as president and CEO. To 2021 and beyond.

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Title Technology Loan Officer Lending 370

Housing Wire

OCTOBER 12, 2021

At each stage of the buying process, there are multiple siloed transactions, from appraisals, inspections and settlements to mortgage payments and homeowners’ insurance. Cooper has been able to process loan documents quicker and more accurately, helping close loans faster and provide a better customer experience.

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Lending Technology Loans Industrial 370

Housing Wire

SEPTEMBER 30, 2020

The Origence Mortgage Platform is an end-to-end lending platform that puts the power of modern technology in lenders’ hands, enabling them to close more loans, faster. Loan officers can access high-priority information via its Sales Portal interface, which includes pipeline views and outstanding conditions.

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Lending Mortgages Technology Loan Officer 221

Housing Wire

MAY 7, 2023

We briefly broke under my key Gandalf line in the sand (between 3.37%-3.42%) intraday, only to close right at the line and rise by the end of the week. Since the entire marketplace is keeping an eye out on credit getting tighter, I will be watching the Senior Loan Officer Opinion Survey on Bank Lending Practices on Monday.

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Marketing Banks Mortgages As-is 505

Housing Wire

OCTOBER 19, 2022

Second, moving credit to the start of the process, perhaps even in the pre-qual stage, sends a message to applicants that the lender is committed to presenting the best offer and winning their business. There is no time for either within the time it takes to process and close a mortgage. Overhauls are time-consuming and expensive.

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Loans Mortgages Loan Officer As-is 459

Housing Wire

APRIL 18, 2023

When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. When we get a borrower that comes in online, we do our good work to get them qualified to buy a home – these are mostly early stage buyers. So it’s really just a slow play to close.

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Loan Officer Loans Pre-approval Mortgages 370

Housing Wire

AUGUST 31, 2023

And as a loan officer (LO), why should I care? A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. This efficiency enhances the overall lending process, allowing LOs to accelerate their workflow and reduce the time it takes to close deals.

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Loans Inspection Lending Technology 418

HomeLight

JUNE 20, 2023

Closing is a vastly different experience for homebuyers and home sellers. Selling a house involves many steps, such as prepping and staging the house, showing it, and negotiating the deal. Closing signifies the end: a time to cash the check and move on. Buyers must bring a passel of documents and a cashier’s check to closing.

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HomeLight

JUNE 15, 2023

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

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Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. The bank closed its wholesale mortgage businesses it inherited through the acquisition of MUFG Union Bank in December 2022 and laid off staffers in July. In the secondary market, Wall Street firms have shown more appetite for these mortgages.

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Banks Marketing Loans Mortgages 370

HomeLight

SEPTEMBER 16, 2024

Review the loan terms After approval, carefully review the loan’s terms, including the interest rate, repayment period, and any fees. Ask questions if anything is unclear, and make sure the loan fits within your budget. Close the loan If everything checks out, you’ll move on to closing.

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Equity Loans Loan Officer Lending 111

Realtor.com

MARCH 8, 2021

Plus, along with evaluating your credit score and overall financial situation, lenders will also closely examine your builder. And, it’s a good idea to meet with a loan officer as early as possible in the process to understand what documentation you’ll be required to provide.

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Loans Construction Land Finance 120

RIS Media

APRIL 18, 2022

Ribbon’s model allows buyers to work with their preferred real estate agent and loan officer of choice. Weekly active agents and loan officers up by over 500% on the Ribbon Offers platform. We see every close as ensuring wealth and equity stay with the local community of buyers, and small businesses” Bryant said.

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