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.

Business 459

Business Mortgage Loan Officers Inventory 459

Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.

Mortgage 476

Mortgage Loan Officers Inventory Business 476

Housing Wire

JUNE 20, 2024

The bridge loan estimate is being integrated into the lender’s workflow through an Encompass plugin. NFM loan officers will be automatically notified when a homeowner can tap into the equity of their current home to buy a new one before selling.

Lending 448

Lending Loan Officers Real Estate Agent Real Estate 448

Housing Wire

DECEMBER 14, 2023

Several loan officers on Thursday told HousingWire they were quoting borrowers in the mid-6% range on standard 30-year-fixed loans. This harms inventory as homeowners are reluctant to let go of their low mortgages. One LO said he quoted an FHA borrower at 5.7%.

Mortgage 501

Mortgage New Listings Loan Officers Inventory 501

Housing Wire

JUNE 4, 2021

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.” . The jumbo market for brokers is back in a huge way.

Marketing 508

Marketing Sellers Finance Loan Officers 508

Housing Wire

SEPTEMBER 22, 2022

Where ‘inventory’ was the big concern in 2021 and early 2022, the concern today is ‘affordability,’ with the combination of substantial price increases and rising rates simply pricing more and more Americans out of the market,” Green said. According to the NAR, there were 1.28

Mortgage 448

Mortgage Loan Officers Buyers Inventory 448

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

Buyers 418

Buyers Agents Loan Officers Real Estate 418

Appraisal Buzz

SEPTEMBER 25, 2024

The Fed’s initial cut is likely to bring more buyers and sellers to market, potentially opening the inventory floodgates and momentum for price competition. Traditionally, they would would ramp up hiring – more loan officers, processors, and contract underwriting. What will lenders do?

Mortgage 393

Mortgage Loan Officers Technology Contracts 393

Housing Wire

APRIL 7, 2021

Inversely, data from Zillow showed for-sale inventory climb the highest in four major real estate markets – Los Angeles, Chicago, San Francisco, and New York. Zillow also reported an uptick in movers to the South over the past year – specifically, to the Sun Belt cities of Phoenix, Charlotte, N.C., and Austin.

Housing Market 545

Housing Market Marketing Real Estate Technology 545

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. That’s a problem because mortgage LOs traditionally have not “forged as deep of inroads” with sellers’ agents.

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

SEPTEMBER 30, 2021

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Buyers “are waiving inspections, an appraisal contingency, and the latest trend is to pay closing costs usually done by the seller.” Kansas City, Missouri.

Housing Market 370

Housing Market Marketing Real Estate Agent Loan Officers 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.

Agents 435

Agents Inspection Real Estate Sellers 435

Housing Wire

FEBRUARY 7, 2023

And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. 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. So why is this program so rare?

Mortgage 397

Mortgage Loan Officers Government Buyers 397

Housing Wire

MAY 3, 2023

Unlike loan officers, whose commissions are highly regulated by the government, real estate agent commissions are based largely on long-standing industry practices and market forces. Relatedly, discount brokerages have promised big savings to sellers for decades. They were wrong. They’ve never caught on.

Agents 435

Agents Real Estate Agent Brokerage Real Estate 435

Housing Wire

MARCH 29, 2023

While lower cost of capital will likely bring buyers back in a meaningful way, the latest market instability and the Federal Reserve ’s federal funds rate hike will stress a lot of real estate agents, mortgage advisors and lenders to the core, said Daniel Arias, loan officer at We Fund LA , a division of New American Funding.

Mortgage 435

Mortgage Real Estate Agent Loan Officers Real Estate 435

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.

Loan Officers 418

Loan Officers Real Estate Agent Real Estate Finance 418

Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. Literally, we’re right back to being a seller’s market again.” The suburbs had a significant lack of inventory, and even the urban areas, there just wasn’t a lot of deals going on.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

Housing Wire

AUGUST 20, 2024

Earlier this month, some loan officers reported pricing in the high-5% to low-6% range on government loans and in the mid-6s for conventional loans. The recent decline in mortgage rates has stoked optimism across the real estate and mortgage sectors after a tepid spring and summer of home sales. home prices increased 6.8%

Mortgage 468

Mortgage Loan Officers Buyers Realtors 468

Housing Wire

APRIL 4, 2022

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. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

Insurance 370

Insurance Loan Officers Sellers Mortgage 370

Housing Wire

MARCH 2, 2023

I feel like we have some people sitting on the fence again,” said one loan officer in the Portland, Oregon market. “I There are two reasons for this price stability—record low inventory and record high equity. Applications have definitely slowed down in the last few weeks. He wants to wait and see where interest rates go.”

Mortgage 468

Mortgage Buyers Loan Officers Marketing 468

Housing Wire

APRIL 16, 2024

Earlier in the year, RMD spoke to reverse mortgage managers and loan officers across the country, who did in fact report a more steady stream of inbound inquiries and product interest. When looking at H4P volumes over the years, interest rates have had very little to do with its success.

Retail 441

Retail Mortgage Business Loan Officers 441

Housing Wire

SEPTEMBER 30, 2022

To convince borrowers to take out a mortgage loan, some loan officers and lenders are highlighting how home prices are more affordable now than last year – and the ability of a borrower to refinance the loan when rates decline again. There is more inventory relative to demand, and deals can be found.

Buyers 482

Buyers Mortgage Loan Officers Retail 482

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.

Housing Market 476

Housing Market Marketing Insurance Mortgage 476

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

NOVEMBER 8, 2021

“This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. Next, he has his buyers write a letter to the seller, a practice that has come under scrutiny lately for creating potential biases.

Clients 418

Clients Agents Buyers Sellers 418

Housing Wire

DECEMBER 11, 2023

When rates go down by a point, people sit on the sidelines because the consumers and the sellers want to know what the market is going to be when they sell the house. And for originations business to pick up, a stability of low rates as well as a supply in inventory would have to work in tandem. “I in 2024 before declining to 6.9%

Mortgage 482

Mortgage Buyers Inventory Technology 482

Housing Wire

APRIL 14, 2022

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. of its originations were purchase loans last year. The closer, the better. in consumer direct and 2.3%

Mortgage 526

Mortgage Marketing Retail Lending 526

Housing Wire

JULY 25, 2022

Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. We were having like 20 to 30 offers every time we had a listing on the market and the offers would come in from day one until the seller said enough is enough. Rapid City, South Dakota.

Housing Market 370

Housing Market Marketing Real Estate Real Estate Agent 370

Housing Wire

JULY 25, 2023

Loan officers — myself included — need to strengthen their mindset. MW: As far as the inventory levels go, this is something that I’ve been focusing on and specializing in for years. So, if I can deliver faster than the other offer, the seller is going to select our offer over the competitor’s.

Real Estate Agent 353

Real Estate Agent Mortgage Real Estate Training 353

Cleveland Appraisal Blog

MARCH 30, 2021

There is a lot of demand out there, with very little inventory. It may be due to inventory levels continuing to drop. My advice to agents and sellers is to really analyze the properties that they are using to develop their asking price. This is not the only place people are shelling out a lot of bread! .

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Cleveland Appraisal Blog

OCTOBER 14, 2021

I remember loan officers telling me that I needed to be “creative” with my appraisals. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008. Before the pandemic, there was already a shortage of housing inventory in many parts of the country, including in Northeast Ohio.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Miller Samuel

FEBRUARY 12, 2019

In ’09, Miller said sellers were anchored to the “pre-Lehman, pre-financial crisis asking prices” and had to travel farther on price to meet a buyer. Meanwhile, sellers are anchored to another market completely, he said. The disconnect between buyers and sellers is measured by lower sales volume.”. In 2018 the discount was 5.2%.

Marketing 221

Marketing Real Estate Appraisal Sellers 221

Eppraisal

APRIL 20, 2021

It's a sizzling, fast-paced seller's real estate market right now. Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. Your loan officer may even put your file through an initial underwriting. Be prepared to offer at least asking price.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

Realtor

OCTOBER 16, 2023

This can give buyers the edge, as Ameer points out, “given today’s tight market with low inventory. Listing agents are going to recommend their seller ask for shorter time periods for loan approval.” ” 10. .

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Cornerstone

APRIL 30, 2021

It’s an ideal time for sellers to take advantage. Sellers who may have been reluctant to list in the past few years are now considering it. The fact that housing inventory is at record lows has driven up prices – and potential profits — by 14.1 But with rates still around record lows, homebuyer demand is even greater.

Sellers 68

Sellers Buyers Inventory Loan Officers 68

Genworth MI Blog

JANUARY 24, 2019

Whether you’re a loan officer, loan processor, or underwriter, you have the power to detect and report various types of fraud. Failure of loan officer/processor/underwriter to disclose pertinent info which could negatively impact the decision. Lack of due diligence by loan officers or others involved in process.

Loan Officers 78

Loan Officers Mortgage Buyers Real Estate Agent 78

Cornerstone

JULY 1, 2021

Here’s an overview of why selling your house now may be optimal: Because inventory is so tight and demand is so high, buyers are competing for limited listings as homes fly off the market. Housing inventory still sits far below the six-month supply threshold required to uphold a healthy market.*

Sellers 64

Sellers Buyers Real Estate Agent Inventory 64