The mortgage industry – and mortgage underwriting, in particular – seems to have been playing catch up with many other industries in terms of technology. It’s still such a paper-intensive process. The great news is, there are steps you can take – both technologically and not – to improve your mortgage underwriting process to […]
Depending on your business, your underwriting team may choose to underwrite the MI in-house (delegated) or send the file to Enact (non-delegated). No matter how your business underwrites, it’s always important to have a complete loan file. In most cases, you can expect smooth sailing with the MI underwriting process. However, there are cases where […]
This article first appeared in the June issue of National Mortgage Professional Magazine. The home appraisal has been requested…the waiting begins. As a lender, many questions race through your mind; “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser […]
Seventy seven percent of adults in the U.S. own a smartphone. If you own a smartphone, you likely rely on it heavily to follow directions, keep track of tasks, and do research. As part of their diligence when looking for a home, your borrowers will want to do research on a potential home’s area, what […]
One of the greatest obstacles for first-time homebuyers is the initial down payment. The down payment obstacle often seems insurmountable to first-time homebuyers, especially because so few realize they can buy a house with as little as 3% down. But even saving that 3% on top of everyday expenses like rent, groceries, and gas can […]
Although the market indicates occurrences of mortgage fraud are at a steady low rate, mortgage professionals should remain vigilant in efforts to detect and prevent individuals and organizations seeking to profit by obtaining properties. Here’s one such example of mortgage fraud that was recently investigated. An Opportune Moment Everything in the file looked to be […]
As a loan officer, you’ve got a ton to do every day – help potential customers find the right loan, create ads to market your services, go to networking events, etc. But if you’re doing all these activities without a clearly defined loan officer value prop, your efforts won’t be nearly as effective as they […]
Perhaps one of the greatest obstacles you might have in discussing ARM loans with borrowers is all the ARM loan myths that persist today. In our last post, we discussed ARM loans and how their structure can be beneficial to borrowers. Today, we want to discuss the most prevalent ARM loan myths and how you […]
If you pay attention to the overall mortgage lending landscape, you’ve likely noticed an uptick in ARM lending. Perhaps you’ve even noticed it in your own lending shop. Thanks to rising interest rates, ARM loans are starting to look a bit more favorable to some lenders and savvy borrowers. The rest of the population, however, […]
First-time homebuyers…they’re oftentimes scared, confused, overwhelmed, and skeptical when it comes to the homebuying process. What that means is they usually need extra TLC from their loan officer when it comes to obtaining a mortgage. These borrowers come in all ages, and from all walks of life, so developing a customer-centric culture can help you give […]