Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business.

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Loan Officers Real Estate Agent Real Estate Finance 418

Housing Wire

OCTOBER 10, 2024

Two weeks after Helene hit, Movement Mortgage loan officer Mitch Davidson still has no power or running water at his Asheville home — and he says it could be months before they return. “Whether you’re a loan officer like me, or a Realtor, we’re all pretty worried about income,” he said.

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Agents Insurance Housing Market New Listings 433

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. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

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Business Mortgage Loan Officers Inventory 459

Housing Wire

MAY 22, 2024

H4P endorsements accounted for roughly 6% of the 32,963 HECMs endorsed for Federal Housing Administration (FHA) insurance that fiscal year. The inventory is so low, so people are wanting to figure out how they can move into a home.” On the other hand, increased interest has led the company to close more H4P loans, she said. “We’ve

Mortgage 458

Mortgage Loan Officers Lending Business 458

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Brown anticipates more consolidation in the industry on the mortgage production side, as “there’s less than one loan being done by a loan officer per month on average,” he said.

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Housing Market Marketing Insurance Mortgage 476

Housing Wire

APRIL 4, 2022

Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

Insurance 370

Insurance Loan Officers Sellers Mortgage 370

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 based think tank Urban Institute to hear their takes. In March, FHA Commissioner Julia Gordon made it a little cheaper.

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Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

NOVEMBER 4, 2024

Finding an agent Like 43% of homebuyers , I began my search online, as I worked to get a sense for what the inventory in my preferred areas and in my price range looked like. I wanted to make sure I was comfortable with what the inventory in my price range might look like before I began taking up an agent’s valuable time.

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Agents Inspection Real Estate Sellers 435

Housing Wire

JANUARY 25, 2022

This includes how much cash is used to fund new loans, cycle time on loans in inventory, and how fast you’re selling loans. For instance, you need to pay loan officer commissions when loans are closed, even though you may not have sold the loan yet to generate the cash needed to pay a commission.

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Mortgage Inventory Business Loan Officers 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 8, 2023

I was tired of fighting with mortgage lenders about self-employment income, high-interest rates , and dealing with scarce inventory that fit our family’s needs. I have been in the mortgage industry for nine years, with my loan officer in the industry for 19 years and my Realtor for over 10 years. I was beyond done.

Mortgage 418

Mortgage Marketing Realtors Sellers 418

Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. With a deadly combination of the tight housing inventory , reduction in refis and surging mortgage rates, consolidation seems to be the natural path. million in the first quarter of 2022.

Mortgage 397

Mortgage Technology Loan Officers Investing 397

Housing Wire

NOVEMBER 8, 2021

He will also inform the listing agent that he is a veteran himself and implores them to ask any questions or express concerns they have about VA loans. Alex Naumovych, a loan officer at Draper & Kramer , has noticed similar trends in his work at a lender.

Clients 418

Clients Agents Buyers Sellers 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

Housing Wire

SEPTEMBER 5, 2023

TB: It seems like each mortgage process should be relatively standardized because we’re manufacturing loans — the vast majority of which will be purchased by the two GSEs or insured by FHA , VA or USDA. And then closing as fast as possible because we’re still in a tight housing market with tight inventory.

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Technology Mortgage Tools Insurance 418

Housing Wire

SEPTEMBER 23, 2022

“This creates a very challenging environment for volume-sensitive businesses such as mortgage originators and title insurers,” the analysts said. While the nation suffers from a severe housing shortage, lower mobility can make housing inventory even tighter and cause home prices to continue escalating.”

Housing Market 370

Housing Market Marketing Mortgage Buyers 370

Housing Wire

OCTOBER 5, 2023

These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” billion, according to offering documents.

Housing Market 448

Housing Market Marketing Contracts Finance 448

Housing Wire

JUNE 28, 2024

When thinking about improving the efficiency of work that people are doing and that can’t be moved to technology, lenders often focus on allowing those people to focus (there are elaborate solutions, like workflow systems, and simple solutions, like not letting your loan officers instant message your underwriters).

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Lending Mortgage Technology Training 413

Housing Wire

JUNE 15, 2022

Lenders, loan officers and economists who spoke to HousingWire this week said that the current volatility in the markets will reduce originations even further in 2022, bringing additional rounds of layoffs. Dominguez said his origination volume is up over the past few weeks due to increased inventory. More layoffs to come.

Mortgage 397

Mortgage Investors Clients Marketing 397

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. The nation’s biggest banks stepped in to stabilize the lender with $30 billion of their own money, giving the Federal Depository Insurance Corporation time to find a buyer. After a weekend of negotiations, the FDIC sold First Republic to JPMorgan.

Marketing 370

Marketing Retail Mortgage Investors 370

Miller Samuel

FEBRUARY 12, 2019

Overall inventory is up by about 17%, with a significant amount of supply coming from the studio and 1-bedroom market. Studio inventory is up 21% percent. For the last two years, Miller has said that the NYC market is softer at the top and tighter as you move lower in price. The mortgage industry is trying to widgetize the appraiser.”.

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Marketing Real Estate Appraisal Sellers 221

Realtor

OCTOBER 16, 2023

” However, keep in mind that you will have to pay private mortgage insurance if you put less than 20% down, which increases your monthly payments. Assuming you can get a loan instantly Many borrowers assume that in today’s instant-gratification culture, they can get a mortgage in days or even minutes. ” 9. .

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Mortgage Real Estate Agent Real Estate Buyers 190

Genworth MI Blog

JULY 13, 2023

The current housing market has been met with low housing inventory, yet demand is still relatively high. Plus, the high demand for housing mixed with low inventory has certainly created many obstacles for borrowers. Source: David Foster is a Senior Real Estate Appraiser at Enact Mortgage Insurance.

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Appraisal Inspection HOA Real Estate 78

Appraisal Today

MAY 10, 2024

The mortgage loan officer handling the loan? Appraisers must consider broader economic indicators, such as inflation rates and GDP growth, in tandem with localized market conditions, including inventory levels and median price changes, to provide accurate and timely valuations. Was it the borrower? A Zillow Zestimate?

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Reconsideration of Value Appraisal Real Estate Insurance 73

PennyMac

DECEMBER 22, 2020

In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s history with the property) these homes may be priced at a discount. During the appraisal, a licensed appraiser will take inventory of major systems (i.e., 10 Steps to Buying REO Properties. Step 10: Closing.

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Inspection Real Estate Agent Real Estate Agents 69

Appraisal Today

OCTOBER 14, 2022

Lenders want fire insurance for all mortgage loans. What if there is no insurance available, very limited coverage, or only very expensive insurance? Or insurance problems for flooding, hurricanes, or other natural disasters. For example, Florida homeowners have had many problems getting flood insurance.

Appraisal 52

Appraisal Insurance Real Estate Business 52

Appraisal Today

OCTOBER 21, 2022

Inventory levels. 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.

Appraisal 52

Appraisal Marketing Contracts Insurance 52

Housing Wire

APRIL 13, 2022

As a driver of the economy, housing should be bolstered by: Non-bank lending institutions to lend in lower-income areas and to minorities in the same way that CRA provides for banks Reducing government-insured and guaranteed mortgage loan fees. While home inventories remain low, the prospects for first-time buyers diminish.

Insurance 397

Insurance Construction Government Lending 397

PennyMac

SEPTEMBER 18, 2020

Do a door and lock inventory to make sure they all work—the only time a door should be unlocked is when someone is using it. Plus, adding monitored safety and security devices can often help homeowners dramatically lower their home insurance premiums.

Technology 36

Technology Tools Decorating Loan Officers 36

Housing Wire

NOVEMBER 7, 2023

One of the top concerns for homebuyers as well as agents right now is the historic lack of inventory. Change the search area, change the type of home or find an equally great school district to look in that has more inventory. More and more, you’ll start to compete for buyer business in a similar way you do for listings now.

Clients 459

Clients Buyers Real Estate Agent Real Estate 459

Appraisal Today

MAY 12, 2023

The residential lending appraisal business depends on low-interest rates, the same as for loan officers. The insurance policies were based on reproduction cost, not replacement. Lower rates from week to week have helped buyers in the market, but limited for-sale inventory remains a challenge for many homebuyers.

Appraisal 52

Appraisal Architecture Business Contracts 52

Housing Wire

OCTOBER 24, 2024

Nonetheless, America is still faced with low inventory, uncertain interest rates, and cash-strapped homebuyers. In addition to low housing inventory and uncertain rates, next year’s homebuyers are likely to be somewhat apprehensive about the “fear of missing out (FOMO).”

Training 435

Training Mortgage Reconsideration of Value Architecture 435

Appraisal Today

AUGUST 13, 2023

2023 E&O Insurance Brokers Risks of Expert Work by Claudia Gaglione, Esq A long article from Claudia with 4 very good case studies. The purchase index fell for the fourth consecutive week, as homebuyers continue to struggle with low for-sale inventory and elevated mortgage rates.” percent of total applications from 28.9

Appraisal 75

Appraisal Contracts Real Estate Agent Real Estate 75

Housing Wire

DECEMBER 16, 2024

The cost to originate loans rises, alongside appraisal fees, credit reports, FICO verification , digital verification and insurance. The pivotal question is, can I succeed and make sure my family grows and survives in an environment where costs are going up and inventory is down?

Technology 368

Technology Loan Officers Business Insurance 368

Housing Wire

DECEMBER 27, 2024

Asset purchases may seem simpler in theory because they do not involve a change in control, and the buyer avoids liability for past loans, which remains with the acquired company. These specialized platforms typically do not focus on conventional or government loan production. Hanson said.

Mortgage 397

Mortgage Retail Valuation Loan Officers 397

Housing Wire

OCTOBER 10, 2023

.” Kickbacks in a shrinking market A shrinking market, defined by high mortgage rates and low inventory levels , appears to have exacerbated the existing mortgage kickbacks problem, industry pros told HousingWire. That’s because real estate agents and loan officers are in survival mode and desperate to close new business.

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Real Estate Agent Loan Officers Real Estate Agents 476