The mortgage industry has been abuzz with talk of the new Uniform Residential Loan Application, more commonly referred to as the URLA or 1003. With its mandatory use date fast approaching (March 1, 2021 in case you’re wondering!), we’re here to give you a quick overview of the application including its purpose and what each section […]
There are many mortgage products available to loan originators. However, the most successful originators tend to know every detail about three or four products and most of their customers end up in one of those products. To help you master your company’s most-used products, we’re going to run them all through a PEPPER analysis. But […]
Once you have a solid understanding of how the loans go through the origination process, you’ll have an easier time moving them through. Additionally, the better you can communicate the process to customers, the more satisfied they will be as they will know what to expect, who is working on the loan, and the time […]
Welcome to the mortgage industry. As a loan originator, your success truly depends on two independent and distinct entities: you and the company you work for. The first is obvious – you’re in control of your success through your actions and initiative. But perhaps you didn’t realize your company can either be an enhancement or […]
We face difficult situations both in our personal and professional lives all the time (although remember to not think of them as hard). It’s so easy to become overwhelmed by what you perceive to be solutions to those situations, especially if you find yourself in more than one at a time. Instead of getting overwhelmed […]
Ah 2020 – a year we certainly won’t forget any time soon. It’s a year that brought us a tremendous number of ups and downs, especially for us in the mortgage industry as we navigated forbearance plans with borrowers, record refi and purchase volumes, and fully remote workplaces to meet shutdown mandates. With everything 2020 […]
You’ve likely heard of the importance of social media for loan officers and wondered if it’s really a necessary marketing tactic for your business. In this highly digital world, using social media is a must for most every business, including for mortgage lenders. Whether your organization has a social media presence or not, there’s still […]
Since the inception of the Deferred Action for Childhood Arrivals (DACA) program, there have been many questions around DACA borrowers and the types of considerations given to their files. While you may not need to underwrite these types of files often, there are a few key things to know about DACA borrowers and how the […]
As a loan officer, creating a stellar lending experience for your borrowers should be a top concern for you. This is especially true for first-time homebuyers who likely have little knowledge of what to expect during the homebuying process – creating a better lending experience for them helps to create borrower loyalty for you and […]
This post first appeared in The MReport. Today, first-time homebuyers make up a significant segment of homebuyers, accounting for more than half of all purchase mortgage borrowers. For the third consecutive year, the number of first-time homebuyers exceeded 2 million. The size of this group is unprecedented, and this segment of the market simply cannot […]