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.

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Why 28% of mortgage applicants never close the loan

Housing Wire

I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado. Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4

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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.

Title 239

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.

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.

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.

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.

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.

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.

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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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.

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.

Loans 81

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.

Ben Cohen becomes second Guaranteed Rate LO to originate $1 billion

Housing Wire

A few short months after Shant Banosian became Guaranteed Rate ’s first loan officer to originate $1 billion in a year , another Guaranteed Rate loan officer has joined that exclusive club.

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.

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.

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.

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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How to tackle the affordable housing crisis in 2021

Housing Wire

As part of its outreach efforts, Freddie Mac works with state and local housing finance agencies, as well as real estate professionals, loan officers and nonprofit organizations. The COVID-19 pandemic has exacerbated the issues around affordable housing and access to it.

2020 HW Tech Trendsetter: Paul Akinmade

Housing Wire

Paul Akinmade, Chief Strategy Officer, CMG Financial. Within four years, Akinmade and his team have built a robust, automated marketing platform, which is driven by investment in technology, to give retail loan officers a competitive edge.

SimpleNexus secures $108 million in Series B funding round

Housing Wire

The platform allows loan officers to become “mobile originators,” using their smartphones to view applications, pull credit reports and oversee all aspects of the loan process while connecting in real-time to their LOS.

What role can mortgage brokers play in fair housing?

Housing Wire

That’s one reason that starting in January, loan officers will be able to take 16 hours of courses through NAMB University at a rate that is affordable for the first-time loan officer.

The differences between home and mortgage insurance

Housing Wire

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Instead, these policies pay for the lender’s losses if you fall behind on your mortgage and fail to repay your loan.

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.

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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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.

Fannie Mae’s Henry Cason becomes CEO of FinLocker

Housing Wire

He explained that as consumers use the tool to prepare their finances to get a mortgage, loan officers will also be able to see at a glance if the consumer is ready, simplifying the mortgage application process.