Eight Best Marketing Practices to Fund New Loans Faster

Join our expert panelists to learn which best marketing practices will help you get to your customer quickly with your best offer – and win their business for another loan term.

engage.marketing event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Behind the executive exodus at Fannie Mae

What's behind the wave of executive departures at Fannie Mae? It's not just money, according to former employees of the GSE.

2021 Agent Rankings now live

Today RealTrends + Tom Ferry announce the 16th annual The Thousand of America's top 1,000 real estate sales and professionals and teams.

Appraisals & ValuationsInvestmentsMortgage

Why VA mortgage loans go to the bottom of the stack

Even with government guarantee, borrowers face headwinds

HW+ VA lending - couple buying home

It’s been rejection after rejection for Isabel Williams’ client, a military veteran in Port St. Lucie, Florida. Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times.

Williams, the broker-owner of We Save Loans, said her client has all but given up on buying an existing home with VA financing. Instead, she is looking to buy a newly constructed home from a large homebuilder.

Homebuilders, Williams said, are more concerned with the overall investment, and don’t have the same prejudices toward and misconceptions about VA financing that individuals do.

But it might be a while until Williams’ client could actually stop paying rent and move into a home. If she is unable to wait the six months or more it could take to finish construction, she may forgo her hard-earned government benefit altogether.

“She may have to change from VA to conventional to be more attuned to the current market,” Williams said. “When people are deciding which offer to accept, the pecking order is cash, conventional, FHA and then VA.”

For loan originators who represent VA borrowers, the aversion to VA deals is confounding. From a risk-profile perspective, in addition to the government guarantee that veteran borrowers command, VA borrowers have much lower default rates than FHA loans, another government-backed loan.

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    Mortgage forbearance drops as expiration date nears

    Mortgages in forbearance fell for the 15th consecutive week last week to 4.04% of servicers’ portfolio volume ― a 12 basis point decline, according to a survey from the Mortgage Bankers Association.

    Jun 14, 2021 By

    Latest Articles

    Mortgage applications increase as 30-year rate falls

    After three straight weeks of declines, mortgage applications increased 4.2% for the week ending June 11, 2021, according to the latest report from the MBA.

    Jun 16, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please