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FHA Unveils 40-Year Loan Modification Option

2022-05-20T07:04:24-07:00Private Money Lending|

The Federal Housing Administration, under the Department of Housing and Urban Development, late last week, published a rule that will expand the COVID-19 mitigation loss of the Department. This 40-year loan modification option will comprehensively change the repayment provisions for FHA borrowers. This rule [...]

UWM Targets Real Estate Investors with New Loan Product

2022-05-20T07:04:14-07:00Private Money Lending|

The nation's largest wholesale lender, United Wholesale Mortgage (UWM), introduced a new product on Wednesday, the 23rd of March, that will qualify borrowers for investment properties based on monthly rental revenue rather than current income. This is the second non-QM product introduced by the [...]

Products Loan Originators Should Look into Mortgage Rates on the Rise

2022-05-08T06:33:13-07:00Private Money Lending|

With the mortgage rates constantly on the rise recently, and a considerable decline in refinance volume, loan originators need to start seeking other means of growing their business by looking into products that are less sensitive to interest rates. In this increasing rate climate, [...]

3 Questions Lenders Should Ask Before Implementing Non-QM

2022-03-24T07:44:58-07:00Private Money Lending|

With refinance volumes expected to drop by 62% this year and many originators facing layoffs, lenders seek non-QM products to broaden their offerings and obtain new business to stay profitable. So, what should lenders know before adding non-QM products to their portfolios? How are [...]

What Opportunities Do Lenders Miss Out On By Not Focusing On Credit?

2022-03-18T07:32:59-07:00Private Money Lending|

With loan volumes in the business already declining, lenders are looking for new ways to meet their growth targets. Several opportunities are available for lenders that focus on credit, especially early in the mortgage origination cycle, all across the consumer credit range, without exception [...]

What is an ALTA Extended Title Policy?

2022-12-05T22:26:17-08:00Private Money Lending|

The standard coverage policy of the American Land Title Association (ALTA) typically only relates to issues that can be discovered by carrying out a public records search. The standard ALTA policy guarantees protection in situations such as where the grantor of the loan cannot [...]

The Great Suburban Migration and its Effects on Private Lenders

2022-12-05T22:39:08-08:00Private Money Lending|

Recently, there has been a massive migration rate from major cities and metropolitans to the suburbs, rural areas, and other states. As the concept of a remote workplace grows in popularity, many employees no longer see reasons to be close by the physical location [...]

What is SNDA, and Why Does it Matter?

2022-12-05T22:35:30-08:00Private Money Lending|

Lenders in the commercial real estate industry most times need an SNDA which refers to Subordination, Non-Disturbance, and Attornment Agreement. An SNDA helps define the connection and interests of the lender, the borrower, and the renter of the asset used to secure the loan. [...]

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