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The DOJ also claims that bank loanofficers did not serve the credit needs of majority-Black and Hispanic neighborhoods, and that Cadence’s outreach and marketing avoided minority neighborhoods. . Mortgage lending in the Houston area accounts for approximately 40% of the company’s total home mortgage business, the DOJ said.
Mortgage Coach , a mortgage platform that enables lenders to educate borrowers with home loan presentations, announced that its platform will be integrated with Insellerate, a customer relationship management (CRM) platform.
The watchdog agency found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. In the lender’s direct marketing and openhouse materials, the models were white. Presented by: iEmergent.
On Wednesday, the Consumer Financial Protection Bureau (CFPB) said it will be tightening the screws on mortgage servicers and originators that violate consumer protection laws — including redlining, the racist housing policy that effectively blocked many Black families from obtaining mortgages throughout the middle of the 20th century.
HousingWire interviewed a dozen loanofficers 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 loanofficer in this market needs a very capable qualified assistant.
Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loanofficer at Draper and Kramer Mortgage Corporation. A sales manager, who requested anonymity, said that he helps newbie LOs by reviewing their strategies to pull in business at openhouses.
Many are curious about buydowns but we are currently operating in what is still a seller’s market so not seeing many seller-funded buydowns,” a loanofficer in Boston noted. a loanofficer in Washington noted. Our goal is to strengthen our Realtor partners relative to their competitors.
Advertise openhouses Post about openhouses to both your grid and stories multiple times leading up to the event, as this ensures that it will reach the most people. It’s also important to include the details of the openhouse in the photo in addition to your caption.
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