Appraisal Buzz

AUGUST 23, 2024

Before embarking on a career in real estate, Shumaker worked as a Loan Officer, closing residential and commercial mortgages. He managed and sold more than 1,000 REO properties during the 2008 housing crisis. The post The Week Ahead: Expanding Into the World of Commercial REO appeared first on Appraisal Buzz.

Realty 393

Realty Loan Officers Real Estate Retail 393

Housing Wire

OCTOBER 13, 2021

Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

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Mortgage Investors Investing Loan Officers 421

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

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Business Mortgage Loan Officers Inventory 459

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based They’re trying to protect their portfolios and make good loans. based think tank Urban Institute to hear their takes.

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Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. The company’s average mortgage loan was about $1.45

Mortgage 370

Mortgage Loan Officers Insurance Business 370

Housing Wire

AUGUST 20, 2021

5000 since HousingWire’s earliest days (check out the HW’s 2008 Inc. Aaron Strawn, senior loan officer at Ruoff Mortgage (294% growth) pointed to his company’s leadership. “We Business Products & Services, Security, Financial Services, Insurance, IT Management, IT Services, IT Systems Dev, Software and Real Estate.

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Real Estate Realty Brokerage Mortgage 476

Housing Wire

MAY 6, 2024

Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer. During the housing crisis of 2008, the title industry suddenly emerged from obscurity into full view.

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Real Estate Agent Real Estate Project Management Agents 437

Housing Wire

SEPTEMBER 28, 2023

Now, if you’re in the wholesale business, you need to know what every broker is, what all their people are doing, what kind of loans each of them are doing, and what’s your wallet share with every lender. But now it’s like, we could have saved 59 loans if we would have followed this process: it means something.

Technology 482

Technology Loan Officers Lending Business 482

Housing Wire

NOVEMBER 10, 2022

“This creates a challenging environment for volume-sensitive businesses such as mortgage originators and title insurers.” It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. A massive job cut. billion in the last 12 months.

Mortgage 370

Mortgage Loan Officers Lending Business 370

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. Less business for lenders and real estate brokerages, in return, is hurting title companies, tech vendors, appraisers and mortgage insurance firms.

Housing Market 468

Housing Market Marketing Brokerage Real Estate 468

Housing Wire

MAY 7, 2023

didn’t go into recession until 2008. As you can see in the chart below, there is a big difference between the current housing market and those looking for a repeat of 2008. From the Department of Labor : Initial claims for unemployment insurance benefits increased by 13,000 in the week ended April 29, to 242,000.

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Inventory Housing Market Marketing New Listings 505

Housing Wire

OCTOBER 4, 2024

That’s where a mortgage loan officer (MLO) comes in. Mortgage loan officers, also known as mortgage loan originators or lending officers, generally make salary-based income with commission. The lender must notify the borrower of the credit decision within 30 days of receiving the loan application.

Real Estate 448

Real Estate Loan Officers Tools Law 448

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Just a little less vanilla. .”

Mortgage 418

Mortgage Loan Officers Finance Investors 418

Housing Wire

AUGUST 8, 2023

(The FHFA’s conforming loan limit was a baseline of $647,200 in 2022, and $726,200 in 2023.) In the secondary market, these jumbo loans are sold to other investors, such as real estate investment trusts, hedge funds and insurance companies. Targeting jumbos made sense for Busch as he is based in Washington, D.C.,

Insurance 370

Insurance Mortgage Lending Clients 370

Appraisal Today

MAY 10, 2024

The mortgage loan officer handling the loan? In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. To read the Fannie document, Click Here My comments: What will happen to owners and buyers who cannot get insurance or whose costs will go way up? Was it the borrower?

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Reconsideration of Value Appraisal Real Estate Insurance 75

Town & Country Residential Appraisals

JANUARY 24, 2020

That’s a step towards mortgage insurance fraud and a lost license. The financial collapse of 2008 was a prime example of what happens when various parts of the real estate machine stop functioning objectively and begin to “make deals work.” They ask you at the inspection “So, how much do you need this to come in at?”

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Appraisal Market Value Contracts Clients 36

Appraisal Today

OCTOBER 21, 2022

Check with your E&O insurance company to see if they offer tail coverage and what the requirements are. Some E&O Insurance companies offer free tail coverage with certain criteria, For example: Must be appraising for at least 20 years. Must be insured by the company for the past 5 consecutive years. Must be retiring.

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Appraisal Marketing Contracts Insurance 52

Appraisal Today

MAY 12, 2023

If not working use this link [link] An oldie from 2008 but a goodie ;> A blast from the past, pre-HVCC!! Remember what it was like during the crash after 2008, when there were very few loans, and appraisal volume severely declined? The insurance policies were based on reproduction cost, not replacement.

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Appraisal Architecture Business Contracts 52

Housing Wire

OCTOBER 29, 2021

Mark Jones: The 2008 financial crisis. As such, we were one of the few lenders in the country that refused to offer subprime loans. At the time, that decision cost us loan officers left and right as they departed for firms that would let them originate anything they wanted.

Loan Officers 369

Loan Officers Insurance Business Finance 369

Assurance Financial

JUNE 15, 2023

In the years leading up to the financial crisis of 2008 , Fannie Mae and Freddie Mac held a dominant position in the U.S. These are loans that meet Fannie Mae’s underwriting and eligibility standards and conform to loan limits set by the FHFA. and has specific loan products tailored to the needs of multifamily borrowers.

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Government Housing Market Mortgage Investors 36

Housing Wire

DECEMBER 10, 2024

In a recent episode of The Loan Officer Podcast, co-hosts Dustin Owen and John Coleman dive into the potential impacts of Elon Musks idea to disband the Consumer Finance Protection Bureau (CFPB). CFPB also regulates payday loans, credit cards and debt servicing. This conversation has been edited for length and clarity.

Housing Market 370

Housing Market Government Law Marketing 370

Housing Wire

OCTOBER 24, 2024

Trained counselors can bring much-needed clarity to a complex process, even when customers are dealing with a highly competent realtor or loan officer. The Biden First-Time Homebuyer Act of 2021 is a bill that aimed to revive a 2008 tax credit that expired. The Downpayment Toward Equity Act (H.R.

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Training Mortgage Reconsideration of Value Architecture 435

Housing Wire

NOVEMBER 5, 2020

When the talk was to get rid of mortgage brokers after the financial crisis, we testified on Capitol Hill, and when COVID first hit, we were first out of the gate because we didn’t want to see a repeat of what happened in 2008-2009. We’re also working on finding solutions for the qualified mortgage and on issues surrounding flood insurance.

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Mortgage Loan Officers Tools Training 482