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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
Mergers and acquisitions are transactions in which a company's ownership is exchanged or combined with another firm. Businesses may seek to combine with a larger, more established organization to safeguard their long-term viability. The concept of mergers and acquisitions is prevalent in the 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. [...]
A deed of trust is a legal document commonly used in lending real estate transactions where either the buyer or the seller wants to lend money to purchase an asset and then use their property as collateral to secure the loan. Even though most [...]
