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Multigenerational housing, once a rarity, is now becoming commonplace and reshaping not just how we live, but also how we lend and borrow. Imagine a young couple, burdened by student loan debt, and discouraged by the competitive housing market. Amid the whirlwind of economic forces impacting the housing market, one trend stands out.
It’s a tough time to be a loanofficer. Amid all the chaos, loanofficers may be pressed to get creative when it comes to generating new business. Amid all the chaos, loanofficers may be pressed to get creative when it comes to generating new business. There are thousands of loanofficers out there.
According to zippia.com, of the nearly 240,000 LoanOfficers in the U.S. While that is an indicator that have made some healthy inroads into the business, those roles are traditionally lower paying than the more lucrative loanofficer and executive roles and are usually the first to experience a layoff when business contracts.
At their best, LoanOfficers (LOs) should act as financial guides to their customers, helping them see and help surface opportunities that they did not know existed. The post Driving Growth: Leveraging Home Equity to Expand LoanOfficer Opportunities first appeared on The MortgagePoint.
Planet Home Lending Area Sales Manager Tom Reber National mortgage lender and servicer Planet Home Lending has hired Tom Reber as Area Sales Manager in Jacksonville, Florida. Reber’s Jacksonville team will include Mortgage Loan Originators Allen Lewis and Jeromy Peters, and LoanOfficer Assistants Nicole Crabtree and Priscilla DeMasi.
Rocket and Redfins approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical, said Kelman. Rocket will match homebuyers with the best real estate agents and the best loanofficers across the combined companies.
Appraisers have been accused of being “speed bumps” in the lending process. We frustrate buyers, sellers, loanofficers and, sometimes, real estate agents. In some ways, I can understand their. Read More.
Panasis will also lead the branchs growth initiatives, including immediately recruiting loanofficers and developing relationships with real estate brokerages, homebuilders and financial advisors. Panasis previously served as a loan originator for The Mortgage Firm and TD Bank.
These options give loanofficers the opportunity to fill a large. The post Deephaven Looks to Increase Partners’ Non-Agency Lending Opportunities appeared first on Appraisal Buzz.
Acra Lending , a private mortgage lender, announced its integration with Tavant ’s Touchless Lending Collateral Analysis. This partnership marks a milestone in Tavant’s expansion into non-QM lending. Collateral Analysis is a proprietary product of Tavant’s Touchless Lending automation platform.
Jay Crowell has been promoted to the newly created position of president of national retail division at Cornerstone Home Lending. Crowell joined Cornerstone Home Lending in 2009 and most recently served as president of the Pacific Northwest region. million in loan volume per loanofficer, according to data from Modex.
Allen as President of its Reverse Mortgage Division, and Greg Pahel as EVP Consumer Direct Reverse Lending. Rate’s entrepreneurial and innovative culture prioritizes the customer and loanofficer at the heart of all operations,” Allen said. The post Rate Adds Two Reverse Mortgage Execs appeared first on Appraisal Buzz.
Touchless Lending. Touchless Lending is an AI-Powered Lending-as-a-service platform that provides end-to-end mortgage manufacturing. Touchless Lending integrates effortlessly with your existing systems, including the LOS, and automates loan production. Product Fast Facts. #1. Get More Info.
However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. And as a loanofficer (LO), why should I care? A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years.
What should appraisers know before they sign the appraisal report and deliver their professional opinion of value? Many appraisers working in today’s marketplaces are about to find out how important this is. This is important information for appraisers, though it may not appear so at first. Appraisers track such data.
At each stage of the buying process, there are multiple siloed transactions, from appraisals, inspections and settlements to mortgage payments and homeowners’ insurance. Digitalization in the home lending industry does not always require companies to entirely invent new technology solutions. However, it’s important.
A hidden benefit of upgraded technology is that it can also be a potent recruitment tool, attracting experienced loanofficers who are drawn to sophisticated tools that help build their businesses. Brand your recruitment efforts: To attract top-tier loanofficers, understand what environment fosters their success.
Today, technology is driving differentiation across the customer experience, loanofficer experience, and overall operational efficiency. Moving Beyond Integrations appeared first on Appraisal Buzz. The post Mortgage Digitalization 2.0: Moving Beyond Integrations first appeared on The MortgagePoint.
Cornerstone Home Lending President–National Retail Division Jay Crowell Cornerstone Home Lending , a division of Cornerstone Capital Bank , has announced the promotion of Jay Crowell to the newly created role of President–National Retail Division. million in loan volume per loanofficer, according to data from Modex.
This shift requires not only technological adjustments, but also a top-to-bottom cultural transformation within lending institutions and their missions. The post Reimagining Credit and Verification Workflows appeared first on Appraisal Buzz. The post Reimagining Credit and Verification Workflows first appeared on The MortgagePoint.
The 15 presidents, who oversee 10 mortgage companies, two AI technology companies, a title company, an insurance company, and the personal lending group, will continue to report to and work directly with Ciardelli as he partners with Banosian to elevate Rate Mortgage into the premier mortgage company in the industry.
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. Appraisals are of course going to be delayed, and then that can delay title orders, obviously. I’ll be brutally honest.
Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loanofficers and lending executives told HousingWire on Friday. That will create more demand, and with supply still being an issue, we’ll be seeing multiple-offer situations and appraisal gaps.”
Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. Today’s reality of affordability But imagine if Bob’s appraisal had been lowballed? Can you imagine if he did not even have the ability to apply for his home loan?
Candice McNaught has joined Planet Home Lending , a national mortgage lender, servicer, and asset manager, as senior vice president, business development and strategic initiatives for the distributed retail channel. In her previous role, McNaught oversaw 200 branch locations and a national network of more than 700 loanofficers.
Neighborhood Credit Union is using FirstClose to streamline its home equity lending operations. Last year, the credit union launched its home equity lending department and in just 12 months has originated over $1.3 Headquartered in Dallas, Neighborhood Credit Union has 14 branches throughout Texas serving more than 50,000 members.
M2 Lending Solutions is using LenderLogix ’ mortgage point-of-sale and automation software to provide an automated, digital-first borrower experience. Specifically, M2 lending has implemented LenderLogix’ QuickQual, LiteSpeed, and Milestone Text Updates solutions to provide borrowers high-touch, white-glove service.
Traditionally, they would would ramp up hiring – more loanofficers, processors, and contract underwriting. There has been considerable progress, even in the last 30 months, in terms of how technology is impacting fulfillment of loans and streamlining operations. What will lenders do?
The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . “I recently sold a home in Austin that was listed at $565,000 and closed at $715,000,” Dawson said.
For example, since home appraisals consider trends in past property values, BIPOC neighborhoods may be considered “risky” due to historic segregation and the cumulative effects of chronic underinvestment. Adapting to meet the needs of an evolving homebuyer pool is vital to success in mortgage lending.
The difference in appraisals has led to a $156 billion cumulative loss in value nationwide for majority-Black neighborhoods, the study claimed. The lender’s offices were concentrated in white neighborhoods, and nearly all of its loanofficers were white.
During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Many allegations related to appraisals that used inappropriate comparable sales that were used to “make” a deal work.
Lending technology out of focus. Focusing our efforts to leverage big data and smarter automation on the front end of the loan origination process made sense in the beginning when the mortgage industry was entering the digital age. Borrowers were not comfortable turning over their credentials to loanofficers or processors.
Planet Home Lending, LLC has arrived in Rockford, Illinois, with a new team run by Branch Manager Bruce Biggers. Joining him are Sales Manager Dennis Garcell, along with Mortgage Loan Originators Dave Zegunis, Marcia Patton, Nick Goza, John Hastings, Brian Pettry, Nick Goza, Jr.,
There’s no denying the complexity of the appraisal process. With so many people involved – including the appraisal desk, loan operations, loanofficers, underwriters, the IT/product team, borrowers and appraisal vendors – there’s room for error that could negatively impact the home buying experience.
The deal will allow Black Knight access to Top of Mind’s brain child, Surefire, a customer relationship management system and marketing automation software for the mortgage lending industry. ” The software boasts an all-in-one connectivity between LOSs, CRM, POSs, lead sources and sales acceleration systems.
National mortgage lender and servicer Planet Home Lending has deployed Total Expert’s CRM and customer engagement platform to increase loanofficer productivity, improve marketing and engagement efforts, and enhance customer experiences. With Total Expert, Planet Home Lending plans.
It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed. Tozer suggested “a fee of 1.3%
Tavant , a digital lending solutions provider, has launched V?LOX LOX NXT, an advanced edition of its AI-based digital lending platform. LOX digital lending. The post New Tavant Digital Lending Solution Enhances Mortgage Borrowing Experiences appeared first on Appraisal Buzz.
Appraisers have been accused of being “speed bumps” in the lending process. We frustrate buyers, sellers, loanofficers and, sometimes, real estate agents. The post Agents, Don’t Skip the Appraisal appeared first on Appraisal Buzz. In some ways, I can understand their … Read More.
Lenders that adopt artificial intelligence (AI) or machine learning (ML) into the mortgage lending landscape want to see operational efficiency, Fannie Mae ’s mortgage lender sentiment survey showed. A total of 242 senior executives from 219 lending institutions completed the survey between Aug.
Tom Reber recently joined Planet Home Lending as area sales manager for North Florida and Southern Georgia. He is renowned for his ability to drive excellence and build strong teams, Planet Home Lending says in a release. Reber is a 30-year mortgage industry veteran, with experience in retail mortgage banking.
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