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Urban Institute's Index Shows Credit Easing Has Room to Increase

Urban Institute's Index Shows Credit Easing Has Room to Increase

Tuesday, 23 April 2019
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The Urban Institute’s Housing Finance Policy Center updated their Housing Credit Availability Index (HCAI) last Friday. The HCAI measures the percentage of owner-occupied home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and… Read more...
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Ask the Expert: Build a Relationship Before Answering Phone Questions

Ask the Expert: Build a Relationship Before Answering Phone Questions

Monday, 22 April 2019
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I keep getting the same question over the phone—what is your rate on a 30-year fixed mortgage? How do I reply in a way that will assure that I get the loan? Eddie from New Hampshire This question goes to the crux of sales within the industry. It is so important that I may take… Read more...
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What Percentage Of Your Originators Are Really Producing?

What Percentage Of Your Originators Are Really Producing?

Monday, 22 April 2019
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By Pat Sherlock In recent conversations with a Board Chairman and the President of a mortgage company, I asked each one separately “What percent of your sales staff meet the company’s annual volume goals?” This productivity percentage is a critical standard for any mortgage company because it is a predictor of profitability. The Board Chairman… Read more...
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Quicken Loans Using Short Term Rental Income For DTI Calculation

Quicken Loans Using Short Term Rental Income For DTI Calculation

Sunday, 21 April 2019
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Detroit-based Quicken Loans has partnered with Vrbo®, a world leader in vacation rentals, to allow rental income earned through Vrbo to be used to qualify for a mortgage refinance. This program uses confirmed and documented rental income so homeowners can more accurately illustrate their full income stream. Mortgages for primary residences, vacation homes and investment… Read more...
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Bill Bodnar’s Mortgage Market Recap

Bill Bodnar’s Mortgage Market Recap

Wednesday, 17 April 2019
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https://youtu.be/hJ0SnZFePfU Rates rose this week and U.S. market is resurgent and so is China. The economy is reinvigorated. The spring season is the largest in nine years. Employees are not getting fired because the job market is so tight. [adbutler zone_id="326324"] [adbutler zone_id="326327"] Recession occur 13 months after the low, but the economy keeps making… Read more...
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Ally Financial Partners with Better.com to Create End-to-End Digital Mortgage Experience

Ally Financial Partners with Better.com to Create End-to-End Digital Mortgage Experience

Thursday, 18 April 2019
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Ally Financial Inc. (Ally) today announced a partnership with Better.com to create a new end-to-end digital experience for consumers looking for a mortgage loan from Ally. In addition to the partnership, strategic-investment arm Ally Ventures has announced an add-on investment to Better.com’s recent Series C funding, significantly increasing Ally’s overall ownership in the company. In… Read more...
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Ask Brian: Creating a Networking Group

Ask Brian: Creating a Networking Group

Thursday, 18 April 2019
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Dear Brian, I love your column and you seem to be very knowledgeable and sincere. I have only been originating for a few years and it’s hard for me to network. I am considering joining a networking group and wanted your opinion. Scott J. Boston Dear Scott, I know as a reader you may find… Read more...
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Hybrid Products Being Developed For HELOC's

Hybrid Products Being Developed For HELOC's

Wednesday, 17 April 2019
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Premium Title, a national provider of title and escrow services, and Springhouse, a full-service valuation solutions and appraisal management company, today announced the launch of HomeVal, a home equity line of credit (HELOC) hybrid solution that provides combined title search and valuation data for lenders. Consolidation of title and valuation information in one report can… Read more...
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LendingTree Survey: 61% of First-Time Homebuyers Struggling to Find Affordable Homes

LendingTree Survey: 61% of First-Time Homebuyers Struggling to Find Affordable Homes

Tuesday, 16 April 2019
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Young adults are getting married later than previous generations. In 1980, the median age for men and women at their first marriage was 24.7 and 22, respectively. In 2018, the ages increased to 29.8 and 27.8, for men and women, respectively. But this delay in marriage isn’t deterring them from homeownership, though. Almost a quarter… Read more...
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March Sales Signal Slowest Start to Spring Homebuying Since 2014

March Sales Signal Slowest Start to Spring Homebuying Since 2014

Tuesday, 16 April 2019
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Kicking off the spring homebuying season, March sales climbed almost 29% over February, according to the RE/MAX National Housing Report. But this remains the slowest start in five years, with March sales 8.6% lower than March 2018. March was the eighth consecutive month of year-over-year sales declines and the sixth straight month of year-over-year inventory… Read more...
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