Q2 2020 Senior Loan Officer Opinion Survey

Eye on Housing

The Federal Reserve’s latest release of the Senior Loan Officer Opinion Survey shows banks’ lending practices and households and businesses’ demand for various classes of loans as of the second quarter of 2020.

DataTrace launches market insight platform for title companies

Housing Wire

Other reports offered include trend, loan officer, and title/lender intersection reports that DataTrace said can be used to identify and compare relationships between title companies and lenders.

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This techie mortgage broker has cleared $1 billion in originations this year. And now Thuan Nguyen is scaling up

Housing Wire

In 2013, Thuan Nguyen was working out of his chaotic office in the heart of Silicon Valley. At that point, Loan Factory had about 200 loans and just 13 employees. The office was like a market,” Nguyen recalled. “It Quicken Loans , see how big they are?

Digital lender Beeline goes on a hiring spree

Housing Wire

According to Beeline, the company plans to unveil a new office in Charlotte in the fall of 2020 – followed by a new branch on the West Coast towards the end of the year. The company has developed an alternative to what is traditionally know as a loan officer role.

Veterans United Home Loans to host virtual career showcase Sept. 2

Housing Wire

Mortgage Research Center , which does business as Veterans United Home Loans , is holding a virtual career showcase Wednesday, September 2, for all interested job applicants. Louis, and its branch offices in about 25 states.

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LOs are only human — Tech is necessary to keep up with max loan volumes

Housing Wire

One of the drivers for a pivot to profit is that loans are expensive. According to the Mortgage Bankers Association, it costs an average of $7,535 to produce a loan. It also helps position LOs to better educate and advise customers on the right loan products for their needs.

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Helping low-income homeowners overcome barriers to refinancing

Inman

Mortgage Sponsored APR closing debt escrow fha financing freddie mac Helping low-income homeowners overcome barriers to refinancing Home Possible lender loan loan officer low-income mortgage my home pmi rates real estate refi refinance refinancing relief second mortgage titleWith mortgage rates still at record-lows, refinancing continues to be a powerful tool to lighten the debt burden of most homeowners.

Beeline will hire 120 employees for newest office in Charlotte

Housing Wire

office in Charlotte, N.C. Of its new hires, the team is looking to add close to 100 “loan guides,” an alternative role to what is traditionally known as a loan officer and marketed as a “dedicated real human guide for its customers.”

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Mortgage Tech Demo Day: Top of Mind

Housing Wire

Surefire CRM.

Manage leads, listings and loans with Townify

Inman

The agent operating system Townify combines a practical set of features and emphasizes loan-officer integration to keep agents on track of leads and listings.

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Mortgage Tech Virtual Demo Day: Capacity

Housing Wire

Thanks to 24/7 service, clients receive a superior experience throughout the loan process. Capacity features an inbound ticketing console to prioritize loan applicant inquiries, and guided conversations to automate borrower support through a conversational AI-powered chatbot. #2.

HousingWire Virtual Demo Day: Sales Boomerang

Housing Wire

Prescriptive Scenarios enable loan officers to connect a borrower with the right type of loan at the right time based on the borrower’s needs and qualifications. In 3 years, our lender clients produced $18B in new loan originations. #2. Prescriptive Scenarios. It levels the playing field between your low performers and your top performers creating a full team of super producers! Product Fast Facts: #1.

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Shant Banosian becomes Guaranteed Rate’s first LO to originate $1 billion

Housing Wire

1 loan originator, has become Guaranteed Rate ’s first loan officer to fund $1 billion in loan volume in one year. Over the course of his decade-long career, Banosian has generated more than $4 billion in funded loans. Shant Banosian, the nation’s No.

Making sense of ultra-low mortgage rates

Housing Wire

For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. s San Diego office, to get a better understanding since he originates a lot of UWM’s Conquest loans. Loans can only include the old loan balance, and not more.

Turn your record year into a record career by creating client-for-life relationships

Housing Wire

A loan officer’s behavior right now in the upcycle has the ability to position them to excel in the down cycle. At Homebot, we’ve learned just how expansive the insights and advice loan officers have are.

With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share.

How LOs are dealing with an explosion of activity in NYC’s suburbs

Housing Wire

Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City.

Quicken Loans’ Austin Niemiec on Rocket Pro TPO rebrand impact

Housing Wire

On the heels of going public, Rocket Companies’ broker channel, Quicken Loans Mortgage Services (QLMS), made waves throughout the industry when it announced it would be rebranding to Rocket Pro TPO in an effort to closer align itself with the brand that has become ever-present in the lending space. Dan Gilbert started Quicken Loans as a small brokerage in the Detroit area 35 years ago and grew it into the nation’s largest mortgage lender.

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Academy Mortgage Inspires Hope

Housing Wire

Academy was built on a vision to Inspire Hope, Deliver Dreams and Build Prosperity — a set of values that are not simply listed in a mission statement hanging on an office wall. Jose Zuniga, a loan officer assistant based in Yakima, Wash.,

Better.com in talks to raise $100M at $4B valuation: report

Housing Wire

And with rates near-zero, about 70% of those loans were refinancings. One source told The Information that Better.com went from losing more than $10 million a month to “reaping significant monthly profits” due to heavier loan volumes.

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Tavant’s FinXperience brings all parties in the lending process onto one collaboration platform

Housing Wire

Borrowers, loan officers and the corresponding processors and underwriters are often working on entirely different systems. The platform is loan origination system-agnostic and is able to “surround and extend” loan origination systems to provide a more efficient lending experience.

Why Is It so Important to Be Pre-Approved in the Homebuying Process?

Keeping Current Matters

So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. You may have heard that pre-approval is a great first step in the homebuying process.

Are you overpromising real estate closing times?

Housing Wire

For the past two weeks, HousingWire took a deep dive into the effects an accelerated market can have on appraisal turn times and the delta between appraisal ratings and market forecasts.

Think these credit problems are stopping you from buying a house? Think again

Housing Wire

It influences what loans you’re eligible for, how much you can take out, and how much you’ll pay in interest over the life of your loan. Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means.

Mr. Cooper plans to hire 2,000 new team members to serve growing demand

Housing Wire

The company is hiring for positions with multiple experience levels including loan officers, mortgage underwriters and loan processors.

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What MBA’s forecast means for mortgage originators

Housing Wire

Here are some expectations and recommendations: First , the refi/purchase mix should be carefully evaluated down to the loan officer level.

In a super-low rate environment, how can lenders get purchase loans done without putting refis on the back burner?

Housing Wire

Lenders are faced with strong external pressures on both kinds of loans, but with purchase loans, there is a homeowner waiting to move into a house, which exerts its own kind of stress.

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Tips for Obtaining a Mortgage During Retirement – You Need a Strategy

Realty Biz

Fannie Mae and Freddie Mac backed loans come with requirements that lenders must follow. The place to start is by asking the loan officer if he or she has experience qualifying loans based on retirement income sources rather than only on steady monthly income.

OJO Labs acquires personal finance platform Digs

Housing Wire

It also enables OJO Labs to continue to add value for agents and loan officers by equipping them to better engage with consumers. The acquisition of Digs enables us to provide that much-needed, personalized guidance during the buying process and seamlessly transition the consumer to managing their home as an asset,” OJO Labs Chief Product Officer Charles Myslinsky said in a statement.

Refi Sugar High: How to balance your lending diet

Housing Wire

You’ve probably staffed up on loan officers equipped to handle this influx, and you may be shunning riskier, less immediately gratifying business. They are specialists when it comes to buying and servicing government loans.

The surprising future of mortgage technology

Housing Wire

Over the past few years, we’ve applied virtually all of our solutions to the front end of the mortgage loan origination process. Borrowers were not comfortable turning over their credentials to loan officers or processors. Loan Underwriting.

WFG reports its highest volume months ever during Q2 and Q3 of 2020

Housing Wire

Prior to forming WFG, Stone held C-level positions with three public companies and directorships on two Fortune 500 boards, including a software company, a real estate data and information company, and a national title insurance underwriter, where he oversaw 2,000 offices.

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CoreLogic AutomatIQ Borrower reimagines the underwriting process with automation and standardization

Housing Wire

Even as lenders make significant investments in new technology and digital infrastructure, they continue to struggle with increasing costs per loan and time-to-close metrics.

With the Origence Mortgage Platform, lenders can adapt their lending experience to meet borrowers’ needs

Housing Wire

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. We believe modern lending starts with modern technology,” said Roger Hull, chief product officer at Origence.

Blend reaches unicorn status with $75 million Series F raise

Housing Wire

Also, there’s no doubt that the economic situation around the COVID-19 pandemic has placed pressure on lenders to offer remote solutions while keeping up with record loan volumes. So far this year, it’s processed $771 billion in loan volume.

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