Mortgage insurance (MI) comes in one shape and size, right? Not exactly! While all MI products serve as credit enhancements to protect lenders and investors in the event of borrower default, they come in various forms. These differences allow for lenders to select the right product to meet both their borrowers’ needs and their own business […]
As a loan officer, you might wonder if it’s important to build strong real estate agent relationships. These facts from the National Association of Realtors Profile of Homebuyers and Sellers 2017 provide insight to this question: 87% of homebuyers used a real estate agent 22% of buyers received a “Better Lender” list from their real […]
When many of us first entered the mortgage industry, we eventually had the same question, “what is mortgage insurance?” If we all asked that question, you’d better believe that your borrowers will ask the same thing. To answer this question, let’s start by defining what mortgage insurance is not. Mortgage Insurance Is Not…. We’re willing […]
You are ready to buy a home. You’re not rich. You know you are going to need a mortgage. So you do what anyone would do – you Google “mortgage lender”. Google returns 31,000,000 results. Yes, 31 million. Every one of those 31 million is fighting to get your business. Unfortunately, they are all saying […]
The home appraisal has been requested … and 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 familiar with the neighborhood? Will the appraiser use good comparables? […]