TPO

Impac Mortgage Holdings repositions as broker shop 

Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac.

Guaranty Home Mortgage opens new retail branches in Tennessee

Guaranty Home Mortgage Corporation (GHMC) announced on Monday its retail expansion with three new licensed branches in Tennessee.

Non-QM, Marketing, HELOC Servicing, Automation Products ; Credit Trends

Here in Las Vegas (Why did the Dalai Lama go to Las Vegas? Because he loves Tibet) the population is about 650,000 with all manners of housing, subdivisions, and lifestyles. But around the nation and world, there are numerous ways and places to live. Here’s a story about a former NFL star who says he saved money by living inside Cincinnati Bengals stadium. What do Stowe, Vermont, Whitefish, Montana, and Lake Placid, New York have in common? The three U.S. towns made Travel & Leisure’s 25 Most Beautiful Small Towns. If you only want a house for part of the year, with elevated mortgage rates and home prices having risen considerably, the solution might be buying 1/6 of a house. Or sharing equity, which is what some of your borrowers and homeowner clients consider. “An Unlock HEA gives you cash in exchange for a portion of your home’s future value.” Or one can live underwater. (Today’s podcast can be found here and this week’s is sponsored by Built Technologies. Construction and real estate solutions for better financial management. Improve business performance with faster, smarter tools, for all stages of the property lifecycle. Today’s has an interview with Sasha Ramani, CEO of MPOWER Financing on companies beginning to ditch credit scores when loaning money. Broker and Lender Products and Services The Konami Code is one of the most well-known cheat codes in video game history. Unfortunately, lenders can’t just press a sequence of buttons to make productivity struggles disappear. But that doesn’t mean there isn’t a solution that’s nearly as simple and effective! SimpleNexus, an nCino company, is helping lenders hack the mortgage experience with its single-sign-on mobile homebuying application that connects lenders, real estate agents, and homebuyers from pre-application to close. If you’re attending ICE Experience 2023 this week, SimpleNexus invites you to “Level Up” at booth #125. Come for the free t-shirts and stay for the retro video games and illuminating discussions about the latest advancements in digital home lending. Want to put your name on the mortgage industry’s leaderboard? Earn a top score with SimpleNexus.

MSR Monitoring, Marketing, Lead Conversion Tools; USMI on the FHA MIP Cut

Remember, not all math puns are terrible…just sum. Analyzing residential servicing is a combination of math and psychology. If you were an institution thinking of buying mortgage servicing rights (MSR), or a lender running the numbers on retaining servicing rather than selling it to an aggregator like AmeriHome or Penny Mac, you don’t like hearing the saying, “Marry the house, date the rate.” You’d prefer that the loan stay “on your books” well into the future because you want the monthly cash flow. In 2020 and 2021 origination income was dominant. But in 2022 servicing income won the day for those who owned it. What will happen to servicing in 2023? No one has a crystal ball, but if rates stay in the 5’s or 6’s, loans funded in 2020 and 2021 still stick. Prepayments have plummeted: no one wants to pay off their 2.875 percent loan. Of course, there are numerous parties slicing and dicing the numbers. For example, Black Knight’s MSR Index takes a sample current note rate production portfolio and tracks the MSR performance throughout the month by comparing the current value to the first day of the month value. (Today’s podcast can be found here and this week’s is sponsored by Agile, bringing the mortgage capital markets into a new digital era. From lenders to dealers, Agile is the new way to quote MBS. Listen to an interview with entrepreneur and author Alexandra Nolan on launching and growing a successful business.) Lender and Broker Services and Products

AmeriSave Mortgage Review

AmeriSave at a glance APR Range Available products Fixed-rate loans Adjustable-rate loans FHA loans VA loans USDA loans Refinance loans Cash-out refinance loans Application fees $500 Loan terms 10, 15, 20, 25, and 30 years Loan limits $1.5 million What we like about AmeriSave  Available nationwide AmeriSave mortgages are available nationwide, in 49 states and […]

The post AmeriSave Mortgage Review appeared first on The Simple Dollar.

Guaranty rolls out GAssist, a new borrower application portal

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation (GHMC), rolled out its new borrower online application portal GAssist.

UWM gave brokers big discounts to play with. It could be risky

Lawyers raised compliance questions regarding UWM’s “Control your Price” initiative. Meanwhile, other lenders want to copy it.