Thanksgiving to early spring is known as “LO recruiting season” in some corners of the industry. And in a softer origination market, that theoretically means mortgage executives can reduce compensation packages for loan originator sales staff. Not necessarily. Yes, originations are on a downward trend, but some entrepreneurial-minded CEOs might argue that in a tough market top-performing loan officers are worth their weight in gold. Included in that camp is Paul Rozo, CEO of ...
The use of online remote notarization for mortgage closing looks likely to increase as uniform state legislation was drafted recently and many title agents see the tech as a difference maker. Last week, the Uniform Law Commission updated its Revised Uniform Law on Notarial Acts. In states that adopt the updated legislation, notary publics would be allowed to complete notarizations remotely, including mortgage closings. Among other provisions, the law provides remote online notarizations ...
Genworth Mortgage Insurance has joined the private MI fledgling risk-based pricing club with the launch of its new proprietary risk-based pricing engine, GenRATE. GenRATE allows customers to opt for risk-based pricing or choose from Genworth’s standard published rate card. “Demand for more dynamic pricing is growing,” said Rohit Gupta, Genworth’s president and chief executive officer. “Offering the option of either rate card or risk-based pricing is the best way to show lenders that ...
Regardless of race and gender, the likelihood of a young adult becoming a homeowner depends significantly on how wealthy his or her parents are, according to a new study by The Urban Institute. The analysis found that parental homeownership alone increases a young adult’s likelihood of owning a home by 7 to 8 percent. The report found that compared to prior generations, millennials are less likely to be homeowners. Researchers also found persistent racial and ethnic disparities ...
Cracks began to appear in the housing market during the third quarter of 2018, leading to a modest decline in purchase-mortgage originations, but industry experts continue to predict a rebound next year. [Includes four data charts.]
Purchase loans accounted for over 80.0 percent of third-quarter production at Wells Fargo, PennyMac Financial, Caliber Home Loans, U.S. Bank and Amerihome…
The volume of purchase mortgage originations will increase in 2019 even though interest rates will be higher, according to industry economists. Purchase mortgage originations will be boosted to some extent by a rise in employment and wages along with demographic shifts.
The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.
RSS