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Driving Growth: Leveraging Home Equity to Expand Loan Officer Opportunities

Appraisal Buzz

At their best, Loan Officers (LOs) should act as financial guides to their customers, helping them see and help surface opportunities that they did not know existed. The Power of Reverse Mortgages for Seniors Reverse mortgages can be a great way to help seniors improve the quality of life in their sunset years.

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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. According to one broker, Parkside Lending and Stearns Lending are offering a 15-year-fixed rate as low as 1.75% to some mortgage brokers, depending on the relationship. (We He pointed out that there are restrictions.

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Patriot Bank to pay $1.9M to settle DOJ’s redlining accusations

Housing Wire

In addition, Patriot Bank is required to have at least two mortgage loan officers to serve majority-Black and Hispanic neighborhoods in the Bank’s service area and employ a director of community lending – responsible for development of lending in communities of color.

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First Financial Bank to invest $700M by 2028 in affordable mortgages

Housing Wire

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

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OceanFirst Bank will pay $15M to resolve redlining allegations

Housing Wire

“HUD’s investigation was conducted alongside the [DOJ] after a referral from the Office of the Comptroller of the Currency (OCC), the bank’s regulator.” We look forward to continuing the Bank’s efforts in the New Brunswick-Lakewood market to help meet the lending and banking needs of families, businesses, schools and organizations.”

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. The closer, the better.

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How LOs, mortgage execs are preparing for 2024

Housing Wire

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

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