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Opportunity Zones: A Great Opportunity for Bridge Lenders

2022-01-29T21:59:00-08:00Private Money Lending|

Several benefits come from investing in Opportunity Zones, including high gains by removing federal capital profit taxes during reviving underserved communities. Opportunity Zones offer numerous benefits for investors, but their distinct structure presents significant importance for bridge lenders. Opportunity Zones are designated locations across [...]

Mortgage Applications Goes 2.3% Higher, with a New Record Average Loan Size

2022-01-29T21:55:19-08:00Timely|

According to the Mortgage Bankers Association (MBA) poll for the week ending Jan. 14, mortgage applications jumped 2.3% from the previous week, majorly due to a robust purchase market. The seasonally adjusted Purchase Index increased 7.9% from the past week, while the Refinance Index [...]

Insurance Requirements for Lenders and What to do When Coverage is Inadequate

2022-01-21T01:22:41-08:00Private Money Lending|

Uncertainty continues to rise in the private lending industry, making it more critical than ever to be certain of the insurance coverage of borrowers as lenders look to protect themselves and their capital. Unfortunately, private lenders, in particular, are far too frequently falling short [...]

Closing Protection Letters: When and Why They are Important

2022-01-21T01:22:23-08:00Private Money Lending|

Lenders often understand the necessary endorsements and particular policy coverages covered by a transaction funded by a Small Business Administration Loan (SBA), which could differ depending on the nature of the transaction involved. However, the majority of lenders may not be used to the [...]

Mortgage Delinquency Rate Goes Back to Pre-pandemic Levels

2022-01-21T01:22:11-08:00Timely|

According to CoreLogic's recent Loan Performance Report, mortgage delinquency rates reached pre-pandemic levels in October due to labor market developments and home equity growth. During the year 2022, rates are expected to continue to fall. In October 2019, 3.8% of mortgages were 30 days [...]

Homebot Aims to Put Lenders at the Forefront of Online Search

2022-01-21T01:27:50-08:00Private Money Lending|

In a recent conversation with the CEO and Co-Founder of Homebot, Ernie Graham, on what it means for professionals in the lending industry to provide clients forever and how Homebot is involved through the entire home buying process, particularly with the home search, he [...]

FHFA Hikes Fees for High Balance and Second Home Loans

2022-01-21T01:21:09-08:00Timely|

On January 5, 2022, the Federal Housing Finance Agency implemented additional upfront fees for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Fees for high-balance loans will rise by 0.25% to 0.75%, depending on the loan-to-value ratio. The upfront fees [...]

Mortgage Cadence Releases Next Generation Loan Origination Software (LOS)

2022-01-16T19:39:51-08:00Private Money Lending|

As a lender looking to compete further in the market, employing several technological tools and inventions in your day-to-day operations is a must. One of such technological tools is the Loan Origination Software (LOS), a platform for coordinating and automating various stages of the [...]

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