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Alterra Home Loans names Fernando Ospina as president

Housing Wire

Alterra Home Loans , a Nevada headquartered retail lender and a Panorama Mortgage Group company, has promoted Fernando Ospina to president. He originated more than $46 million in loans in 2022, the company said. billion across 3,900 loans in 2022, data from mortgage data platform Modex showed. The company originated $1.23

Loans 420
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Student loan payments to resume, will modestly impact mortgages: Moody’s 

Housing Wire

Federal student loan payments resuming on Oct. 1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. 1, repayments are due to restart on Department of Education (DOE) federal student loans (Direct Student Loans), which began accruing interest again on Sept.

Mortgages 289
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Ishbia urges FHFA to step in on GSE loan buyback issue

Housing Wire

Mat Ishbia, president and CEO of United Wholesale Mortgage , has echoed the frustration of mortgage industry experts and leaders with the increased volume of loan buybacks from the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. ” FHFA did not immediately respond to a request for comments.

Loans 411
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UWM expands bank statement loan offerings 

Housing Wire

United Wholesale Mortgage (UWM) announced this week that it has added four bank statement loan offerings for self-employed borrowers. To qualify for loans of up to $3 million with up to 90% loan-to-value (LTV), self-employed borrowers can now provide bank statements to verify income rather than tax returns, W2s or pay stubs.

Loans 360
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time.

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

Housing Wire

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. Because Gastelum’s client started a new job within 30 days, an underwriter at Nova decided that there was no interruption to his income and approved the loan.

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Zillow Home Loans rolls out 1% down payment option program

Housing Wire

The program is available for eligible borrowers in Arizona and will expand to additional markets, Zillow Home Loans said in a release. Total loan origination volume for the mortgage arm came in at $340 million in Q2, up from $330 million in Q2 2022. Purchase loan production was $336 of the total, a 73% increase from Q2 2022.

Loans 369