Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HousingWire: What is the current home insurance market like? In 2022, property and casualty insurers recorded a combined ratio of 102.4%

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Insurance Marketing Business Mortgage 370

Housing Wire

MAY 16, 2022

Polly , a software-as-service mortgage technology firm that operates a loan-trading platform, integrated with six mortgage insurance providers to streamline the mortgage process for loan officers and mortgage lenders. .

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Insurance Mortgage Investors Tools 370

Housing Wire

JULY 26, 2023

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We Insurance policies for homeowners are skyrocketing. In Florida, agents are also grappling with insurability issues that are relatively new and vexing.

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Insurance Housing Market Marketing Supply Chain 370

Housing Wire

OCTOBER 3, 2024

that attempt to address the rising costs of origination, including legislative action to change loan officer compensation rules. “There are thoughts and ideas about creating greater incentives for IMBs to participate in those lower-end loan cost structures,” he said. I don’t have an answer.” ”

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Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

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Appraisal Buzz

OCTOBER 28, 2021

a vertical software and InsurTech company, has acquired Floify , a provider of digital mortgage automation and point-of-sale software for mortgage companies and loan officers. Based in Colorado, Floify helps mortgage companies and loan officers create a better mortgage and. Porch Group Inc. ,

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Housing Wire

JUNE 11, 2024

In practice, the direct endorsement authority allows lenders to underwrite single-family mortgages and submit them to FHA for insurance endorsement. Open Mortgage’s termination is based on the “poor performance” of these loans, HUD stated. Iowa was responsible for 3.4% of the total, Modex data shows.

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Mortgage Insurance Loan Officers Lending 475

Housing Wire

OCTOBER 4, 2022

Closing fee-related compliance tool provider LodeStar is integrating with title insurance provider Stewart , the companies said Monday.

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Housing Wire

SEPTEMBER 13, 2024

Head will be responsible for expanding the firm’s market share as he moves over from Enact Mortgage Insurance , where he served for 12 years as a strategic accounts representative. During his time at Enact, he managed the first $3 billion national mortgage banker account in company history.

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Mortgage Loan Officers Technology Insurance 435

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender.

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Housing Wire

MARCH 11, 2024

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said.

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Mortgage Loan Officers Real Estate Agent Design 448

Housing Wire

MAY 26, 2022

A Florida-based loan officer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment. Her place of work was not disclosed.

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Loan Officers Clients Design Insurance 435

Housing Wire

SEPTEMBER 11, 2024

Other holding costs for real estate include taxes and insurance. According to S&P Global, insurance premiums increased nationally by 34% between 2017 and 2023, with even more increases hitting homeowners in 2024. In particular, insurance can be a significant portion of monthly payments.

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Mortgage Insurance Inventory Buyers 468

Housing Wire

JULY 16, 2024

Mortgage insurer Radian Group plans to lay off 70 employees in Pennsylvania in September, according to a Worker Adjustment and Retraining Notification (WARN) sent to the state’s Department of Labor and Industry. Private mortgage insurance protects lenders from payment defaults when borrower down payments are less than 20%.

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Housing Wire

JANUARY 2, 2024

“They have let branch managers and loan officers go and say they are transitioning to a broker [shop].” ” A former processor confirmed that “all staff was let go, from operations to loan officers.” Purchases comprised about 66%, conventional loans were 45% and 95% were banked loans.

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Housing Wire

MAY 24, 2024

Thompson, recognized as a HousingWire Rising Star in 2018 , will oversee more than 60 loan officers across Texas , Oklahoma and New Mexico. The lender also provides rate-and-term and cash-out refinancing, along with construction and renovation loans.

Mortgage 445

Mortgage Renovations Loan Officers Retail 445

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

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Housing Wire

FEBRUARY 19, 2021

Home insurance hiccups. Your lender is going to require an adequate home insurance policy before they’ll close on your loan. There also may be cases when a home isn’t insurable. This might occur if the previous homeowner made an insurance claim for some sort of high-risk condition — like mold or severe water damage.

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Insurance Loan Officers Housing Market Appraisal 535

Housing Wire

APRIL 26, 2023

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Niche loans consist of about 5% of Parkinson’s business. “It’s Being on multiple builders’ lists is a way to rack up more deals for loan officers. “A

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Loan Officers Mortgage Inventory Clients 418

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. In 2023, he closed $925 million in loan origination volume, with 1,617 loans, which put him as the top originator on Scotsman Guide ’s top originators list. “We

Realty 433

Realty Loan Officers Retail Real Estate 433

Housing Wire

NOVEMBER 16, 2020

FHA mortgages are insured by the Federal Housing Administration. They allow for lower credit scores than most other loans. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. Are you confused about your mortgage options?

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Mortgage Insurance Real Estate Agent Real Estate 501

Housing Wire

MAY 25, 2021

Mortgages would be subject to FHA loan limits. Homebuyers would pay an up-front mortgage insurance premium of 3.6 percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

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Finance Insurance Loan Officers Government 493

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

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Real Estate Agent Loan Officers Real Estate Agents 488

Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. Kostegian added that about 5,000 approved insurance agents can also originate a mortgage with Rocket, Lazerson wrote.

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Housing Wire

MAY 26, 2022

We do all sorts of analysis on each of our loan officers’ databases to provide them wonderful timely opportunities.”. Reich outlined that some of those opportunities may include the borrower being eligible to get rid of mortgage insurance or have a cash-out transaction.

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Loan Officers Finance Technology Insurance 418

Housing Wire

MAY 25, 2023

[They likely] would feel much more confident that they can keep a significant amount of the proceeds from their departure home and not have to make monthly mortgage payments, provided they continue to pay their taxes and insurance and maintain the home,” said Rob Cooper, National Purchase and Builders Sales Leader for Longbridge. “If

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Loan Officers Real Estate Agent Real Estate Finance 418

Housing Wire

OCTOBER 23, 2024

UWM has debuted a new cash-out refi product without mortgage insurance. On Wednesday, UWM unveiled a new cash-out refinance product —dubbed Cash-Out 90—that allows borrowers to refinance with a loan-to-value ratio of up to 89.99% without requiring mortgage insurance (MI). Loan amounts, however, cannot exceed conforming limits.

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Insurance Mortgage Investors Renovations 448

Housing Wire

JANUARY 8, 2024

Through the partnership, loan officers can introduce their clients to an RIA within Encompass. Borrowers will receive financial advice including – college savings plans if their household is expanding, additional life insurance and 401k at no cost.

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Clients Investing Mortgage Technology 459

Housing Wire

NOVEMBER 18, 2021

United Wholesale Mortgage (UWM) rolled out a new purchase product that will waive mortgage insurance payments if a borrower opts for a 10%-or-more down payment. Once that happens, mortgage insurance is usually waived. But borrowers would be wise to note that they’ll get hit with higher interest rates.

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Insurance Loan Officers Retail Mortgage 435

Housing Wire

MAY 28, 2024

The Federal Deposit Insurance Corp. Veterans and their families who were deceived into refinancing their VA loans were overcharged and did not receive the loan products promised, resulting in significant consumer harm,” Mark Pearce, director of FDIC’s division of depositor and consumer protection, said in a statement.

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Mortgage Law Real Estate Loan Officers 454

Housing Wire

JANUARY 10, 2024

Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Sue Haviland has also joined the division as a loan officer, coming off of a roughly three-year stint as Finance of America Reverse (FAR)’s national sales trainer in learning and development.

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Mortgage Lending Loan Officers Design 468

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 432

Appraisal Buzz

MAY 22, 2024

Technology firm Finaya has launched an AI-based homeownership marketplace super-app that integrates home buying and selling, mortgage, insurance, title, closing and other related services supported by a marketplace of on-demand realtors, loan brokers, lenders and service providers.

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Insurance Real Estate Agent Mortgage Real Estate 195

Housing Wire

NOVEMBER 1, 2022

Mortgage Coach, founded in 2009 and based in California, offers an interactive borrower education platform that lets loan officers guide borrowers through a visual presentation of their loan options. The goal is to help drum up business for lenders during an extremely challenging time in the industry. .

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Mortgage Project Management Insurance Loan Officers 459

Housing Wire

APRIL 29, 2024

. “Customers of Republic Bank should continue to use their existing branches until they receive notice from Fulton Bank that it has completed system changes that will allow its branch offices to process their accounts as well,” the Federal Deposit Insurance Corp. billion in loans. Republic Bank is adding $5.3

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Loan Officers Insurance Mortgage Lending 439

Housing Wire

NOVEMBER 1, 2021

” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. While some have highly specialized mortgage operations, most have disparate partners and technology vendors that handle home loans for them, the lender said.

Mortgage 448

Mortgage Loan Officers Lending Technology 448

Housing Wire

OCTOBER 28, 2021

With the most recent acquisition of Floify, Porch will expand “its early access to high-intent homebuyers who need key services including insurance, warranty and moving services,” the company said in a statement.

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