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New American Funding Announces New Mortgage Programs for Self-Employed & Non-Traditional Income Borrowers

New American Funding Announces New Mortgage Programs for Self-Employed & Non-Traditional Income Borrowers

Thursday, 11 April 2019
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National Mortgage Lender New American Funding, announces today the launch of a new home loan program, Non-Qualified Mortgage (Non-QM). This loan program fills a growing demand of credit worthy borrowers who are self-employed, have non-traditional incomes, have assets and no income, or have had difficulty qualifying for a traditional mortgage. "We're dedicated to making sure… Read more...
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Shifting Lending Strategies in a Changing Market

Shifting Lending Strategies in a Changing Market

Thursday, 11 April 2019
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One thing that was evident at this weeks’ New Jersey Mortgage Bankers Regional Conference in Atlantic City was that the industry pivot into non-QM lending continues. As business owners, lenders have to make strategic decisions such as are they going to cut their price, are they going to open up Non-QM or are they going… Read more...
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Guess What, There’s No Silver Bullet

Guess What, There’s No Silver Bullet

Thursday, 11 April 2019
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  While at the New Jersey Mortgage Bankers Associations show today in Atlantic City, Genworth’s Steve Richman was discussing ways for lenders to drive more business. “Customers do business with you for a number of reasons. They do business with you because of your corporate brand, they do business with you because of your personal… Read more...
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Pulte Mortgage, Finicity Fighting Paper Bulge

Pulte Mortgage, Finicity Fighting Paper Bulge

Wednesday, 10 April 2019
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Pulte Mortgage is partnering with Finicity, a leading provider of real-time financial data access and insights, to provide its borrowers with a faster, simpler and more secure way to complete the mortgage process. Pulte Mortgage is a wholly-owned subsidiary of PulteGroup Inc. that finances new home construction for customers of Pulte Homes, Centex, Del Webb,… Read more...
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Residential Capital Acquires 3L Finance

Residential Capital Acquires 3L Finance

Tuesday, 09 April 2019
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Residential Capital Partners has acquired 3L Finance, a subsidiary of 2020 REI Group. In the wake of the acquisition, the lender is now the national hard money and rental finance lending partner to 2020 REI Group. Residential Capital Partners and 3L Finance have been active in the single-family rehab financing space for more than 10… Read more...
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Are Management Teams Dumbing Down Sales Standards?

Are Management Teams Dumbing Down Sales Standards?

Monday, 08 April 2019
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By Pat Sherlock In a recent conversation, a mortgage coach told me she was asked to coach an experienced originator who was considered high potential for a sales team. When the coach met with the originator, she found out the individual was only producing two units a month and only worked four days a week.… Read more...
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Ask Brian: How Do You Get Borrowers During Pre-Qualification To Share Their Information

Ask Brian: How Do You Get Borrowers During Pre-Qualification To Share Their Information

Monday, 08 April 2019
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[caption id="attachment_11630" align="aligncenter" width="185"] Brian Sacks[/caption] Dear Brian, I am having challenges getting buyers who I am pre qualifying to share accurate information with me. Any suggestions? Tammy P Detroit Dear Tammy, Thanks so much for writing in and asking your question. Of course, every originator including me has struggled with this question. Take a… Read more...
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NewRez Live with New Product, Pricing Engine

NewRez Live with New Product, Pricing Engine

Thursday, 04 April 2019
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National mortgage lender NewRez has gone live with LoanNEX, providing lenders expanded access to the lender’s non-quality mortgage and other products. With the addition of the LoanNEX platform, a pricing and eligibility engine, NewRez lenders are able to quickly and confidently find a fit across NewRez’s non-QM loan programs and serve more borrowers who don’t… Read more...
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Do Your Originators Sell As Teachers or Leaders?

Do Your Originators Sell As Teachers or Leaders?

Friday, 05 April 2019
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By Pat Sherlock Today, many sales training firms advise originators to adopt a “teaching” sales model as a way to win with a more knowledgeable customer. While this seems like a logical, reasonable approach, the sales process can be anything but. There in likes the rub. Let me explain. Originators who operate as teachers believe… Read more...
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Housing Market Reminds Bodnar of Goldilocks Fable: Not Too Hot, or Cold, But Just Right

Housing Market Reminds Bodnar of Goldilocks Fable: Not Too Hot, or Cold, But Just Right

Wednesday, 03 April 2019
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https://youtu.be/MkzfYueEr0k Hi Bill Bodnar here with the Mortgage Market Guide. Thanks for tuning in to the MMG recap. So up on the screen, you can see another week and another week of low rates. Rates continue to hover near 14-month lows. We came a little bit off the best levels last week. But again, just… Read more...
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