Not all mortgage loan submissions are the same! When you are submitting a file to underwriting without a Fannie Mae Desktop Underwriter® (DU®) or Freddie Mac Loan Product Advisor℠ (LPA℠) loan approval, compensating factors may make a difference in getting borrowers into a home. This may also include loans submitted as a manual underwrite and […]
The current housing market has been met with low housing inventory, yet demand is still relatively high. Prospective borrowers, especially first-time homebuyers, need to be ready for what they’ll encounter during the homebuying process, including home appraisals. That’s where you, the lenders, can step in and help. But with obstacles in the way for many, […]
June is National Homeownership Month, a time to celebrate the benefits that homeownership brings to families, neighborhoods, and communities across America. What is National Homeownership Month? National Homeownership Month has gone through many iterations to get to where it is today. 1920’s: The concept for celebrating homeownership begins as a week-long celebration thanks to local realtor associations […]
When working with borrowers, you must first determine if your borrower is eligible for a mortgage. Doing so may require extra research to identify whether your borrower is a legal U.S. resident, or if they were born outside of the U.S. If they are the latter, then there are factors that impact how a person’s […]
A version of this post originally appeared on MortgageOrb. With the hope of a busy spring homebuying season, mortgage lenders are getting ready for new business. While the market still poses a challenge for hopeful buyers, the key to success for lenders will be establishing and building relationships. Rates and inventory are beyond anyone’s control […]
Whether you’re the fastest or the most thorough, we’re all human… and mistakes can be made. That said, we’ve noticed some trending errors that may have surfaced from the challenging market many of us in the industry are facing. Eligibility requirements are more difficult to meet, and a smaller market might be impacting motivation for […]
A borrower wants to upgrade, update, add, or change their home, but what should they do to get a loan for this effort? Construction loans might be the first thing that come to mind… Sometimes homeowners may say they need a construction loan when they want to build an addition, such as adding a bathroom […]
[This 3-part series explores the 6 Steps to Creating a Successful Borrower Pipeline, Enact’s latest LO eBook. In today’s blog post, we’re giving you a list of great resources you can leverage and ways to implement all of the steps we’ve detailed to help you execute your action plan. Want the full eBook and to […]
[This 3-part series explores the 6 Steps to Creating a Successful Borrower Pipeline, Enact’s latest LO eBook. In today’s blog post, we’re detailing what you can do to determine and leverage your value prop using marketing tactics we’ve outlined below. Want the full eBook and to get a competitive edge in today’s market? Download the […]
Every borrower’s financial situation is different. So, at Enact, we offer a variety of MI premium payment plans to help you find an option that is best for your borrower. It’s important to get to know the many different MI premium options available to your borrowers. In this post, we’re highlighting Single Premium Borrower-Paid Mortgage […]