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Originators Remain Trusted Advisors, Though Tech Is Changing Their Role

Originators Remain Trusted Advisors, Though Tech Is Changing Their Role

Tuesday, 19 February 2019
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By Pat Sherlock One of the most talked about topics in mortgage banking is whether the industry will evolve into a self-service business. Many managers are speculating whether purchasing a home loan will become an automated, point-and-click business similar to booking an airline flight or obtaining concert tickets. A number of high-level executives believe that… Read more...
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Define and Grow Your Sphere

Define and Grow Your Sphere

Monday, 18 February 2019
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By Dave Hershman In the previous column, we defined the term sphere. We now will go a little deeper and discuss the seven segments of one’s personal sphere. Friends, family and neighbors: This part of your sphere is comprised of those with whom you have the closest relationship. Covey would say that you have built… Read more...
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Three Types of Agent Partners

Three Types of Agent Partners

Monday, 18 February 2019
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By Brian Sacks When I first started originating many years ago, I was told to go visit real estate offices and meet and greet agents. Of course, this is much easier said than done these days. But back then you could walk into a real-estate office and there would be agents there. Our first basic… Read more...
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VA Has Established New Policies for Cash-Out Refis

VA Has Established New Policies for Cash-Out Refis

Friday, 15 February 2019
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Veterans Affairs has established new policies regarding guaranteed cash-out refinancing loans, including refinancing of construction loans. The policies determine when Veterans Affairs can guarantee a refinancing, as required under The Economic Growth, Regulatory Relief, and Consumer Protection Act. The new policies take effect Feb. 15. For loans being refinanced within one year from the date… Read more...
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Ellie Reports Earnings Rose to $116M in Q4

Ellie Reports Earnings Rose to $116M in Q4

Friday, 15 February 2019
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Ellie Mae reported revenues for the fourth quarter of 2018 of $116.0 million, compared to $112.9 million for the fourth quarter of 2017. Net income for the fourth quarter of 2018 was $0.1 million, or $0.00 per share, compared to $9.9 million, or $0.28 per diluted share, for the fourth quarter of 2017. Net income… Read more...
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Fixed-Rate Mortgages Achieve 12-Month Low

Fixed-Rate Mortgages Achieve 12-Month Low

Thursday, 14 February 2019
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Fixed-rate mortgages have fallen to their lowest levels since early 2018, according to the Primary Mortgage Market Survey from Freddie Mac. “The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year,” said Sam Khater, chief economist for Freddie. “While housing activity has… Read more...
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Bodnar: Bad News Could Lead to Good News

Bodnar: Bad News Could Lead to Good News

Wednesday, 13 February 2019
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Bill Bodnar from Mortgage Market Guide discusses the catalysts driving the mortgage market. This week the biggest news was the decline, 1.2 percent, in retail sales for December, and a significant decline, 3.9 percent in internet sales. Equity and bond markets were “spooked by the numbers,” yet the result could bode well for originators and… Read more...
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Operator of Mortgage Fraud Sent to Prison for Over 7 Years

Operator of Mortgage Fraud Sent to Prison for Over 7 Years

Thursday, 14 February 2019
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Prakashumar "Kash" Bhakta was sentenced for operating a mortgage fraud scheme throughout Southern California and the Inland Empire that preyed on homeowners facing foreclosure, Xavier Becerra, attorney general for California announced. [caption id="attachment_9983" align="alignleft" width="244"] Xavier Becerra[/caption] Bhakta was sentenced to seven years and eight months in state prison. Restitution will be ordered in the… Read more...
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7 Ways to Optimize Referral Sources for Loan Officers

7 Ways to Optimize Referral Sources for Loan Officers

Tuesday, 12 February 2019
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By Ben Smidt [caption id="attachment_9966" align="alignright" width="179"] Ben Smidt[/caption] Being a loan officer is about being savvy and open to new ways of increasing your referral sources. We all know the typical referral sources for loan officers — real estate professionals, educational institutions, financial planners, builders and so on. But how do loan officers effectively… Read more...
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Mortgage Applications Declined Last Week

Mortgage Applications Declined Last Week

Wednesday, 13 February 2019
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Mortgage applications decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Feb. 8, 2019. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis,… Read more...
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