Articles Tagged with ''Loan officer''

Nonbank mortgage lenders still misunderstood in mainstream media

United Wholesale Mortgage CEO speaks up for our community
[Op-ed] Mortgage lending is still often maligned in the mainstream press. When will coverage begin to accurately reflect all the hard work we, as lenders, put into getting Americans into homeownership? Here, Mat Ishbia, the CEO of United Wholesale Mortgage, calls out a CNN report that gets it so wrong.
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Explaining the disconnect between the rate borrowers want, and can get

You may need to break the rates process down for them
Most quoted industry rates are for a hypothetical borrower with prime credit who makes a 20% down payment. Yet, most borrowers do not fit this profile and often experience disappointment when the rate on their loan turns out to be meaningfully higher than what they believed prevailing rates to be. Many loan officers have likely experienced having to explain this discrepancy to borrowers with varying degrees of success.
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Sponsored By
New American Funding

How can loan officers succeed in this competitive environment?

New American Funding provides tech tools, marketing solutions and a streamlined process
The impact of providing tech and marketing assets to LOs is hard to overestimate. Instead of building websites, creating marketing materials from scratch, figuring out a social strategy or trying to generate positive reviews, loan officers can focus on their most important job: originating loans.
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From HW Magazine

Why do some mortgage professionals fail in their first year?

The factors that convince loan officers to leave the business
The 2017 Retention Report from Work Institute states that 34% of all turnover is from first-year employees. Additionally, a 2014 study across multiple industries from BambooHR states that roughly one third of employees quit within the first six months of starting a new job. Out of these, 16% to 17% quit within their first three months. That means one out of six employees lasts three months or less after accepting a new position. 
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Loan Officers: Are you a commodity or are you a brand?

Here's the difference
As those historical demographic boundaries fall, it gives you a tremendous opportunity to build a brand "for all time zones." Now is the time look at your marketing and how you are connecting to your database. Do an honest assessment and then ask yourself. Are you a commodity or a brand?
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Ask the Underwriter: My borrower owes a federal tax debt to the IRS… Is this mortgage deal dead?

Here's how to close that loan
Question: My borrower owes the IRS approximately $16,000 for tax years 2016 and 2017. They have $20,000 in savings, but were hoping to use that money as a down payment to purchase their first home. Is there a way to get them approved without making them pay off the entire tax debt first or is this a dead deal until it is paid? And the answer is...
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Loan Officers: Teach your Realtor partners how to fish

On Facebook, that is
[Op-ed] What I always tell my MLOs, is teach your Realtors how to fish. What do I mean by that? Simply stated, is that instead of giving them that "one-off lead," teach them a strategy or tactic that will get them multiple leads per year. In this case, learn how to do Facebook Lead Ads for Real Estate.
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Expert warns latest Ginnie Mae regs aren't improving FHA and VA pricing as intended

Questions remains exactly why this is happening
Brent Nyitray, director of capital markets for iServe Residential Lending, said in an email today that loan officers are taking note of “lousy” pricing for FHA and VAs higher up in the rate stack. But, Ginnie Mae just issued new regulations to prevent serial refinances. Why isn't it leading to higher demand?
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New homes sales at highest level in a decade

When will housing contribute to GDP?
While this is good news for the market, there may be a bigger, better knock-on effect for the national economy if this keeps up. Read more for the latest indicators and where housing stands as part of the greater national economy.
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