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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

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5 “back to basics” business actions loan officers should take today

Housing Wire

It’s a tough time to be a loan officer. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. Amid all the chaos, loan officers may be pressed to get creative when it comes to generating new business. What makes you the best loan officer?

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Take more time, ask better questions: How loan officers are getting clients in homes as rates soar

Housing Wire

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. With rates around 6.9%

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Will AI replace the loan officer?

Housing Wire

The industry fears AI will ultimately replace everyone, from operations to loan officers. As a loan officer , I am not losing any sleep, and here is why you should not, either. was curious about what he was doing as I always looked for ways to improve my client experience.On The experience was terrible. (and

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Zillow’s mortgage business is growing. Lenders beware

Housing Wire

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. billion in purchase mortgage business, not far off a top 50 spot on the mortgage leaderboard. That’s an annualized $3.2 Not even close.

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How loan officers are dealing with surging rates and record-low inventory 

Housing Wire

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. Wax said about 50 to 60% of his clients are first-time homebuyers. of loans in October, according to the MBA.

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Revolution Mortgage snags top loanDepot loan officers

Housing Wire

Providing presentations on whether to opt for a conventional loan, Federal Housing Administration (FHA) loan, Fannie Mae ’s HomeReady or Freddie Mac ’s HomePossible loans while winning over contracts in a multiple bid environment are key to creating client stickiness, Lotsoff added.