Loan officers made insane money in Q4 2020

Housing Wire

Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years.

Latest Senior Loan Officer Opinion Survey Indicates Easing Credit Standards

Eyes on Housing

The latest results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021.

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Senior Loan Officer Opinion Survey Q3 2020

Eye on Housing

The Federal Reserve’s latest Senior Loan Officer Opinion Survey on Bank Lending Practices addresses changes in the standards and terms on, and demand for, bank loans to businesses and households.

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.

Senior Loan Officer Opinion Survey Q4 2020

Eye on Housing

The most recent edition of the Federal Reserve Board’s Senior Loan Officer Opinion Survey Practices addresses changes in the standards and terms on, and demand for, bank loans to businesses and households in the last quarter of 2020. Survey respondents (banks) reported a tightening of standards of both Commercial and Industrial (C&I) loans and Commercial Real Estate (CRE) loans to.

Propertybase launches new lead source for loan officers, small teams

Inman

BoldMortgage offers individuals and small teams access to many of the capabilities of Propertybase's enterprise-level mortgage business growth platform Unify. Mortgage Select Teams BoldLeads BoldMortgage mortgage leads Propertybase Tim Fessenden Unify

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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Who’s the customer in UWM’s wholesaler war?

Housing Wire

I’ve spent years asking top mortgage lending execs this question: who’s your primary customer, loan officers or consumers? market share of loans originated by brokers, per IMF), gave America’s brokers an ultimatum to dump two other wholesalers (with 17.8%

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.

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?

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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United Wholesale Mortgage to go public in largest SPAC deal ever

Inman

Mortgage News Brief Select Coronavirus Gores Holdings IV initial public offering ipo loan officers loan origination Mat Ishbia mergers and acquisitions mortgages United Wholesale Mortgage

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.

Mortgage Tech Demo Day: Adwerx

Housing Wire

The Adwerx Enterprise Platform is the only digital advertising solution designed specifically for mortgage brokerages and their loan officers. Reach home buyers before real estate agents with individualized, compliant ads for loan officers, built automatically. Provide unprecedented ad personalization for every loan officer at your brokerage without lifting a finger. Adwerx Enterprise Platform.

This underwriting solution improved lending satisfaction from the inside out

Housing Wire

And while Citizens was looking to improve turn times on loans, the lender ranked quality as its No. Prior to integrating FactCheck, the lender used an Excel spreadsheet that the underwriter and or loan officer would have to key information into.

How lenders can help borrowers improve their credit score

Housing Wire

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Some borrowers may qualify for a loan, but due to poor credit, the loan won’t come with the best terms.

Mortgage fintech firm FirstClose acquires HomeScout

Inman

The company hopes to transform real estate engagement for the consumer and industry professionals by creating a one-stop solution for finding loan officers and real estate agents.

2020 HW Tech Trendsetter: Paul Anastos

Housing Wire

Paul Anastos, CEO, Chief Innovation Officer Gateless, Guaranteed Rate. Paul Anastos has been on the forefront of innovation within the housing industry for over a decade, specializing in developing technology solutions and transforming businesses into industry powerhouses.

Mortgage Tech Demo Day: ActiveComply

Housing Wire

Easily find and monitor loan officer social media from one unified platform. We find loan officer and company accounts automatically and pull them into the system for your review. #3. Social media & website compliance for the financial industry. Social media compliance made easy for the financial industry.

Local housing markets across the country

Housing Wire

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their market. HousingWire Magazine delivered to your home or office.

Lenders, economists question first-time homebuyer bills

Housing Wire

Loan officers — who are monitoring the progress of both legislative efforts closely — aren’t in love with either of those options.

Guaranteed Rate acquires DTC lender Owning Corporation

Housing Wire

According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. Last year, the mortgage firm also had two loan originators produce over $1 billion in mortgages: Ben Cohen and Shant Banosian.

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Broker lawsuit targets UWM’s ultimatum

Housing Wire

UWM is stripping my freedom to be the best loan officer for my clients.”. The controversial ultimatum United Wholesale Mortgage (UWM) issued to brokers in March constituted a violation of the Sherman Act and a series of anti-competition laws in the state of Florida, a St.

NEXA Mortgage sued over broker’s alleged data theft

Housing Wire

In a lawsuit filed last week, a mortgage brokerage claimed that one of its former loan officers stole a database containing client names and information and brought it with him to a new job at NEXA Mortgage. At the end of 2018, the brokerage had 42 loan officers.

Successful mortgage lending starts with superior customer service

Housing Wire

Primary Mortgage Origination Satisfaction Study, mortgage originators’ shortcomings in self-service tools for application and approvals, frequent communication and extended loan processing times could negatively affect customer satisfaction over time.

Mortgage Tech Demo Day: Capacity

Housing Wire

Thanks to 24/7 service, clients receive a superior experience throughout the entire 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.

The Do’s and Don’ts after Applying for a Mortgage

Keeping Current Matters

You’re undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major life changes, consult your lender – someone who is qualified to tell you how your financial decisions may impact your home loan.

Mortgage Tech Demo Day: Top of Mind

Housing Wire

Surefire CRM.

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: CreditXpert

Housing Wire

Loan officers using CreditXpert® Wayfinder TM and What-If Simulator TM together are over 50% more likely to reach a higher mid-score category for the borrower than when using one tool. #3. CreditXpert. CreditXpert ® Wayfinder TM and What-If Simulator TM tools are used by mortgage originators to analyze and simulate a borrower’s mid-score potential and the plan on how to achieve it.

Mortgage Tech Demo Day: Sales Boomerang

Housing Wire

Sales Boomerang notifies a Lender when their borrower needs a loan. 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. Borrower Intelligence System.

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VA-like housing bill proposed for first responders, teachers

Housing Wire

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. Mortgages would be subject to FHA loan limits. Loan officers, too, sometimes have reservations about government-financed loans.

Should you refinance to a 15-year mortgage in 2021?

Housing Wire

The three primary reasons homeowners refinance to shorter-term loans are to save money on interest, to pay off the loan faster, and to build equity. But the possibility of reduced future earnings is another key reason some refinance into a 15-year loan.

Rocket Homes could be real estate’s sleeping giant

Housing Wire

The ads are mostly set not in a loan office, but a home showing.

How to Maintain a Successful Joint Venture Long-Term

RIS Media

When recruiting loan officers for the joint venture, it is vital to identify the loan officers who are already working successfully within your agent population. Converting these loan officers to your new joint venture is the fastest way to earn your agents’ trust.

How 2020 exposed a greater need for collaboration between real estate agents and LOs

Housing Wire

VL: The financial industry’s response has been swift and impactful, by lowering interest rates and providing fiscal stimulus – for the benefit of consumers and loan originators, of course.

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.

Scott Betley to speak at engage.marketing June 17

Housing Wire

While home-buying has been historically seen as difficult, the process is getting a rebrand as loan officers, real estate agents and industry experts answer the questions that Gen Z (and any generation that won’t willingly admit to using the app) have on TikTok’s platform.

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.