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FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Housing Wire

The FHA’s announcement in early September to waive a requirement that FHA-approved lenders flag rejected loans in the FHA Connection system is a step in the right direction since declined borrowers don’t have to overcome a stigma, loan officers said. The FHA/VA share in Q2 2023 stood at 22.9%

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“Last night, my Uber driver was a loan officer.”

Housing Wire

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. Charting the loan officer exit.

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Revolution Mortgage snags top loanDepot loan officers

Housing Wire

Revolution, on the other hand, has been expanding its footprint by scooping up top loan officers in local markets. Rapidly expanding Revolution In a rising rate environment, many lenders have downsized or have gone out of business.

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Knock reverses course on loan officer pay cut

Housing Wire

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources. The post Knock reverses course on loan officer pay cut appeared first on HousingWire.

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Take more time, ask better questions: How loan officers are getting clients in homes as rates soar

Housing Wire

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Loan officers need to take more time with borrowers and ask better questions to secure loans, Covey said. With rates around 6.9% versus a 6.5%

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How loan officers are dealing with surging rates and record-low inventory 

Housing Wire

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. For instance, most loan officers don’t see the point of their clients buying down rates by paying a lot of money upfront.

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5 “back to basics” business actions loan officers should take today

Housing Wire

It’s a tough time to be a loan officer. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. There are thousands of loan officers out there.