Veterans in Texas are being offered extended homebuying benefits from Competitive Home Lending, the company announced.
Buyers applying for a VA loan through CHL can qualify for a wholesale VA mortgage rate.
Wholesale rates are typically between 25 and 50 basis points lower than retail rates. This gives veterans the opportunity to buy a more expensive home without increasing their purchase price.
CHL has lowered its credit score requirements for veterans to as low as 500, offering 100% financing.
“Competitive Home Lending recognizes the sacrifice and service of our Veterans and wants to do everything possible to make homeownership more accessible for them,” said Raul Hernandez, Mortgage Broker of Competitive Home Lending.
CHL is also offering VA one-time close construction…
By KIMBERLEY HAAS
As sellers become savvier about return on investment opportunities before putting their house on the market, the presale home renovation company Revive is expanding nationally.
Leaders at the California-based business announced on Tuesday that they have partnered with NextHome, a real estate franchise with more than 5,500 agents in 610 offices across 48 states.
“Presale renovations offer homeowners a $300 billion additional profit opportunity,” Dalip Jaggi, Revive co-founder, said in a statement.
Sellers can leave between 15% and 20% of potential profits on the table when selling a home as-is and, on average, earn $186,000 more than the cost of their renovations, Jaggi noted.
Tuesday’s announcement comes less than a month after it became public that Revive…
Michelle DeHart has been appointed vice president of loan operations for escrow at Cenlar FSB, company leaders announced in a press release.
“I am excited to be part of the Cenlar team,” DeHart said. “My objective is to strengthen Cenlar’s escrow area by leveraging technology and automating wherever possible to enhance operational efficiencies and deliver the best outcomes for Cenlar, our clients, and their homeowners.”
DeHart will be in charge of all escrow functions including tax, insurance, flood insurance, and escrow analysis.
With 25 years of experience in mortgage banking and financial services, she will also lead additional operational efficiencies and risk mitigation initiatives.
“With Michelle’s breadth and depth of knowledge in the mortgage servicing industry, she is a valuable…
Just a few weeks after Better.com announced its One Day Mortgage product, Guaranteed Rate is trying to speed things up further with Same Day Mortgage.
Same Day Mortgage promises a loan approval in less than 24 hours, which Guaranteed Rate calls an “industry first.”
“Guaranteed Rate is known for revolutionizing the mortgage industry and making the home buying process easier – innovations like the first-ever digital mortgage that we launched in 2015,” said Guaranteed Rate President and Chief Executive Officer, Victor Ciardelli.
“Today we’re changing the game again with Same Day Mortgage. Customers expect services to be fast and easy, Same Day Mortgage delivers exactly that with cutting-edge technology and a totally efficient process.”
The program was tested with a…
Kurt Johnson and Christine Paxton have been appointed to c-suite positions at Mr. Cooper, the company announced in a press release.
Johnson has been named Chief Financial Officer, and Paxton named EVP and Chief Risk and Compliance Officer. Paxton was promoted to take Johnson’s place after his move to CFO.
Johnson has been with the company since 2015, having most recently served as Chief Risk and Compliance Officer. He has more than two decades of experience in originations, servicing treasury, portfolio management, and financial planning.
“With his decades of experience in mortgage banking, strong relationships with government and industry stakeholders, and a detailed understanding of our platform, Kurt is already a major force at the company and in the industry.…
By KIMBERLEY HAAS
Leaders at Rocket Pro TPO are extending their promotion on 30-year conventional purchase loans at or under $200,000 as they gear up to be more competitive in that market this year.
During an IGNITE: Live! webinar on Monday, Executive Vice President Mike Fawaz announced that they are continuing their 37.5 BPS credit on these loans.
Fawaz said they want to make sure that they listen to their broker partners and their feedback.
“This is something we have been extending every single month since December. And the feedback continues to be incredible and positive and broker partners want it,” Fawaz said.
Fawaz explained the philosophy behind the promotion.
“When you think about it, we are very competitive when…
Churchill Mortgage announced two key executive changes as the company refines its workforce despite the housing slowdown.
Jesse Vazquez joined the company as VP of Talent Acquisition and Kelly Lee was promoted to EVP of National Production.
Lee joined Churchhill in June 2022 as SVP of Production for the Pacific Northwest. Prior to that, he served as EVP and Divisional Manager at PrimeLending, during which time the company’s West Coast presence grew from $280 million to $3.1 billion.
“I’m grateful for the opportunity to lead our national sales team and ensure we are hitting our production goals, while also remaining true to the values that have allowed Churchill to thrive for over 30 years,” said Lee. “Achieving sustainable and meaningful…
The FinTech company Knock is partnering with lenders and real estate agents to offer homeowners a chance to leverage the equity in their property so they can buy another house before selling their current one.
Based on the amount of equity in their property, a homeowner can use a Knock Home Swap Equity Advance loan for an up to 30% down payment, to buy down the mortgage rate, and to cover closing costs on their new house.
They can also use that equity to cover up to $35,000 in renovations and to pay up to six months of mortgage payments on their current property, according to a press release.
Knock was founded by CEO Sean Black, COO Jamie Glenn, and…
Is the real estate industry ready for artificial intelligence? Sun West Mortgage is betting yes.
Paval Agarwal, CEO of both Sun West Mortgage and its affiliate Celligence, has created a 24/7 personal assistant A.I. platform called MORGAN, and he’s ready to teach the world how to use it.
MORGAN is designed to automate certain tasks for real estate professionals, primarily in lead follow-up and marketing.
Borrowers can apply for a loan through MORGAN, which analyzes their loan documents immediately to calculate their options. Potential clients will receive automatic follow-up emails and calls four days after contacting a realtor, according to information provided by company leaders.
On the marketing side, MORGAN can create listings in minutes, with realtors needing only to…
FormFree is entering a new era, having strategically divested itself of asset-verification service AccountChek and naming a new president.
Eric Lapin, who joined FormFree in 2022 as chief strategy officer, was promoted to president, the company announced.
“FormFree is proud to have pioneered the mortgage industry’s first asset verification service, and that revolutionary spirit will propel the next phase of our growth,” said Lapin.
“Moving forward with a laser focus on the future will allow FormFree to innovate with the agility of a startup while benefitting from all the experience and wisdom we have accumulated over nearly two decades in business.”
Lapin said the company will now focus more on future innovators like blockchain and decentralized Web3 technologies. FormFree already…
