INSTANT QUOTE
SUBMIT A LOAN
INSTANT QUOTE
SUBMIT A LOAN

Best Practices for a Quick Home Appraisal Process

2023-01-27T13:37:03-08:00private mortgage loan servicing companies, private mortgage servicing companies|

The appraisal process for a home purchase can be lengthy and stressful for all parties involved. However, there are some best practices that can help to speed up the process. For buyers, it is important to be prepared with all required documentation upfront. This includes a loan application, proof of income, and a credit report. Sellers can help by providing a list of recent home improvements, as well as any relevant HOA documents. Appraisers will need access to the property, so it is important to clear any obstacles in advance. Lastly, everyone should be available to communicate throughout the process to avoid delays. By following these best practices, the appraisal process can be much smoother and quicker for all involved.

Read More

Enforcement Relief for HMDA Final Rule Announced by CFPB for 2021

2023-01-27T13:42:17-08:00private lender servicing, private mortgage servicing companies|

The CFPB has announced that it will be relaxing its enforcement of the 2020 HMDA final rule in order to give financial institutions more time to comply with the new requirements. This enforcement relief will apply to both reporting and disclosure requirements, and will remain in place until December 31, 2021. This means that institutions will not be subject to penalties for non-compliance with the new rule during this time period.

Read More

Understanding & Patient Support for Small Businesses Filing for Bankruptcy

2023-01-27T13:37:25-08:00private lender loan servicing, private lender servicing|

Filing for bankruptcy is a difficult decision for anyone to make, and it can be an especially difficult time for small businesses. When your client files for bankruptcy, it is important to be understanding and patient. You may be tempted to immediately start working on a new project or trying to get paid, but it is important to remember that your client is going through a difficult time. It is important to be understanding and patient, and to work with your client to ensure that they are getting the help they need.

Read More

Current Mortgage Rates & Housing Market Trends: Low Rates Staying Here for the Foreseeable Future

2023-01-27T13:37:35-08:00private mortgage loan servicing, private mortgage servicing|

This article discusses the current state of mortgage rates and the housing market. It cites a number of sources that suggest that rates will remain low for the foreseeable future. This is good news for those looking to buy a home, as they will be able to get a lower rate. However, it is bad news for those who are currently in the process of selling a home, as they will likely have to accept a lower offer.

Read More

Inflation Slows Down: Good News for Borrowers as Interest Rates Remain Low

2023-01-27T13:38:07-08:00loan servicing for private money lenders, private lender servicing|

Inflation has been a worry for the Fed in recent months, as it has threatened to erode the purchasing power of American consumers. However, recent data shows that inflation has slowed down, which may lead the Fed to pause its rate hiking plans. This is good news for borrowers, as it means that interest rates will remain low.

Read More

Investing in Mortgage Tech: Making the Mortgage Process Easier and Faster in the 21st Century

2023-01-27T13:40:07-08:00private lender servicing|

As we move further into the 21st century, it's becoming increasingly clear that "mortgage tech" is something that we're going to have to start paying attention to. It's not just a fad or a gimmick – it's a genuine necessity, and those who are investing in it now are the forward thinkers who are going to be ahead of the curve in the years to come. What is mortgage tech? Essentially, it's any technology that can make the process of getting a mortgage easier, faster, and more efficient. This can include anything from online applications and digital signatures to automated underwriting and fraud detection. The benefits of investing in mortgage tech are obvious – it can make the process of getting a mortgage simpler and more straightforward, which is good for both borrowers and lenders. In addition, it can help to speed up the process and make it more efficient, which can save everyone involved a lot of time and money. So if you're thinking about getting a mortgage in the near future, it's definitely worth looking into some of the new mortgage tech that's out there. It could very well be the key to making the process as smooth and stress-free as possible.

Read More

Prepare for Home Sales Decline in 2023: Fannie Mae Warns of Decrease in Purchasing Power, Interest Rates, and Affordability

2023-01-27T13:41:15-08:00private loan servicing company, private mortgage loan servicing companies|

According to Fannie Mae, home sales are expected to nose dive in 2023. The decrease in sales is attributed to several factors including: the decrease in purchasing power for buyers, the rise in interest rates, and the decrease in affordability. In addition, the number of homes on the market is expected to decrease, further hindering buyers. Despite the decrease in sales, Fannie Mae expects prices to continue to rise due to strong demand and limited supply.

Read More

FHFA: Mortgage Loan Guarantee Fees Changed to Reduce Costs for Borrowers

2023-01-27T13:41:49-08:00private lender servicing, private mortgage loan servicing|

In an effort to make pricing more uniform and to reduce the overall costs of getting a mortgage, the Federal Housing Finance Agency (FHFA) is making changes to the way that guarantee fees (g-fees) are charged. Upfront g-fees will no longer be assessed on loans with terms of 15 years or less, and all other g-fees will be decreased by 10 basis points. This will result in savings for borrowers, especially those who are taking out shorter-term loans.

Read More

Expand Your Access to Credit with the New Credit Model from the FHFA

2023-01-27T13:41:58-08:00private lender loan servicing, private mortgage servicing companies|

The FHFA is set to replace the classic FICO score with a new credit model that is more inclusive of a wider range of borrowers. The new model will consider factors such as rent and utility payments, which are not currently included in the FICO score. This change is expected to help expand access to credit for millions of Americans who have been historically underserved by the financial system.

Read More

Find the Right Specialty Mortgage Product for Your Needs | Stay Competitive with the Best Mortgage Solutions

2023-01-27T13:47:35-08:00loan servicing for private money lenders, private mortgage loan servicing|

The most important thing for a mortgage lender to stay competitive is to offer specialty mortgage products. These products can be used to help people with bad credit, low incomes, or other special circumstances. There are many different types of specialty mortgage products, so it is important to research them and find the one that best suits your needs.

Read More
Go to Top