Items Tagged with 'mortgage lending'

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  • Sponsored By
    New American Funding

    Company provides a vital link for purchase buyers reaching out through call centers

    New American Funding offers neighborhood data and connects homebuyers to real estate agents
    The homebuying process has changed drastically in the last decade, with buyers happy to self-serve as they look for homes and home loans. That process of self-education often lands them in an unusual space: loan call centers, which used to be the choice for homeowners looking for refinance loans, not first-time homebuyers reaching out for a purchase loan.
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  • Here's where to find some good news for mortgage lenders

    Refis down, mortgage profits down, true, but desire to buy homes is still growing
    Looking for some good lending news during a downturn? LendingLife has your back. Yes, it is true that rates are rising, per loan profits are down, credit feels tight and refinances are dipping. But, the good news is that the perception of homeownership as a good investment is on the rise. And that's not the only good news for lenders right now.
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  • Here’s why Bank of America’s mortgage banking revenue is shrinking

    Bank may not be pulling away from mortgage lending
    Bank of America is clearly seeing a decrease in its mortgage banking revenue, but the reasons why may not be because the bank is pulling away from mortgage lending. A deeper dive into one of the bank’s filings, and a talk with its CEO reveal why its mortgage banking revenue continues to shrink.
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  • Trend spotting: Appraisers take issue with Fannie Mae's Collateral Underwriter

    Still several mortgage lender benefits to using this tool
    [Op-ed] Is it fair to have 10 different appraiser's reports on a property and then for the lender to use that knowledge against an individual appraiser and question their ability to provide an accurate report? Appraisers seem to think it is unfair or perhaps altogether irrelevant. As an underwriter, here's one trend I'm seeing.
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  • Reimagining the mortgage lending experience

    Loan Officers: It's about more than your mortgage app!
    Are you talking about your new mortgage app, or your new digital mortgage app, going paperless, or portals? A lot of LOs are, which is why I believe they are completely missing the point.
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  • Should borrowers be charged AMC fees and appraiser fees separately?

    There are two sides to mortgage lending valuations at play here
    The appraisers I speak to paint the AMCs as part of some large conspiracy to nickel-and-dime their way to big profits. The AMCs I speak to believe they are vital to maintaining the arms-length regulatory requirements set forth by Dodd-Frank. Are the AMCs hiding something? Maybe, maybe not. But, there is certainly something missing.
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  • HarborOne Bank spins off Merrimack Mortgage business, founds HarborOne Mortgage

    Combines internal mortgage operation with Merrimack Mortgage
    Back in 2015, HarborOne Bank, a Massachusetts-based bank, boosted its mortgage business by acquiring Merrimack Mortgage Company, a privately held mortgage originator based in New Hampshire. Now, HarborOne is combining its internal mortgage operation with Merrimack Mortgage and establishing a new mortgage business, which will be called HarborOne Mortgage.
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  • Fannie Mae now allowing lenders to contribute to borrower closing costs

    Funds must be a gift and cannot be used toward down payment
    While it’s not quite the same as the down payment assistance that the government-sponsored enterprises used to allow, lenders now have a new way to help borrowers buy a home – closing cost assistance. Fannie Mae announced this week that it will now allow lenders to contribute to borrowers’ closing costs, as long as the money is a gift and is not used towards a borrower’s down payment. Click the headline to read more.
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  • Citi appoints new mortgage leadership team

    Promotes three of its own into new roles
    Earlier this year, Citigroup revealed that it was looking for a new person to run its U.S. mortgage business as the bank signaled it was moving back into mortgages. That move, and others, were seen as an indication that Citi may be moving back into the mortgage business, and now, the bank has identified the team that will lead its mortgage resurgence.
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