EQ Bank | Equitable Bank’s Post

Breaking: Acra Lending just lowered the bar! Our rates have been dropped by -0.250%, making our alternative income products even more attractive for mortgage professionals. Secure the best for your clients 👍 #AcraLowerRates #MortgageGameChanger #ClientSuccess

NEW IMF #DATA: For years, officials at Mr. Cooper Group touted a goal for the nonbank to top $1 trillion in primary servicing volume. Mr. Cooper achieved that goal in the first quarter of 2024 thanks to a significant increase in its portfolio even though growth in the servicing market overall was subdued. Some $14.04 trillion in single-family mortgage servicing was outstanding as of the end of March, up 0.3% from the end of December, according to estimates by Inside Mortgage Finance.

What's behind the current private mortgage lending surge? Things like the stress test qualification rules, the COVID-19 pandemic, and a volatile economic shift are huge influences. Get a more thorough understanding in CMI's latest blog: https://ow.ly/V4nl50SCmVv #privatemortgage #privatelending #privatelender #mortgagebroker #mortgagelending

Breaking: Acra Lending just lowered the bar! Our rates have been dropped by -0.250% AGAIN, making our alternative income products even more attractive for mortgage professionals. Secure the best for your clients. #AcraLowerRates #MortgageGameChanger #ClientSuccess

𝗡𝗼𝘁 𝗳𝗼𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝘂𝘀𝗲. 𝗙𝗼𝗿 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝗿𝘆 𝘂𝘀𝗲 𝗼𝗻𝗹𝘆. Our real-life lending approach is all about supporting less traditional mortgage applicants with complex incomes and challenging circumstances, including the growing self-employed demographic. And for one recent case, we really went the extra mile. Working closely with mortgage brokers Dynamo we put together an offer for a self-employed company director that combined remortgage with equity transfer from an ex-partner. By calculating affordability on pre-tax profits and the latest year’s figures, we were able to boost the customer’s borrowing power by £230k in just four days. Read on for more info here and to find out how we could help you with your next challenging case. https://bit.ly/3QC4UU8 #RealLifeLending #MortgageLending

Did you know that 78% of mortgage applications face delays or are declined due to incomplete or inaccurate credit information? Such errors can lead to frustrating delays in mortgage approvals. This statistic underscores the critical importance of precise credit and verification services in the mortgage lending sector. In a time where every moment in the home-buying process is crucial, having accurate credit information can be the difference between a smooth closing and a prolonged waiting period. To enhance lending decisions, consider the following strategies: - Utilize Reliable Credit Reports: Partners with reputable services like Factual Data to access accurate and consolidated credit reports from major CRAs. - Implement Pre-Qualification Checks: Conduct soft inquiries to assess client credit status without impacting their scores. - Monitor Debts Regularly: Stay informed about changes in client debt status to avoid surprises during approval. - Educate Borrowers: Guide clients on the impact of credit inquiries on their scores and proactive credit management. By ensuring the accuracy of credit data and adopting a proactive approach, you can effectively streamline the lending process, enhancing client satisfaction and trust. #mortgage #creditinformation #creditreport #mortgagelending #lendingdecisions #creditanalysis #homebuying #creditscores #reliability #borrowers #financial

The CFPB is investigating the recent surge in costs for credit reports and scoring models, especially concerning mortgage applications. Many mortgage lenders are now opting for soft inquiries over hard inquiries due to rising expenses. The primary reasons behind this shift are the escalating costs of credit reports and credit agencies selling customer information to competitors, potentially jeopardizing client relationships. In the recent past a soft inquiry report was less expensive than a hard inquiry report but those costs have increased as well. It is crucial to understand the implications of these changes in the lending landscape. #CFPB #CreditReports #MortgageApplications

The research in our new Specialist Lending Study offers some vital insights on how customers with adverse credit view the market - and suggest how you can help them find the right deal. Nearly half of people who’ve experienced adverse credit in the last 3 years are unaware that some mortgages are only available through brokers. Exactly 50% of the customers we surveyed had never even heard the term ‘specialist mortgage lender’. That’s a huge untapped market for brokers and lenders alike: help your customers find the right information, and you’ll be getting them closer to the right product for their needs. Read the full Specialist Lending Study to find out more: 👇 https://lnkd.in/ez6re3bb #Brokers #Mortgagebrokers #Specialistlending #PepperMoneyUK

Basecorp Finance has established a new commercial mortgage product with one of its key funding partners as it looks to diversify its offerings to encompass all types of non-bank mortgage lending. Managing director Warren Mayall and CFO John Moody explained the new product to NZ Adviser and what it means for advisers looking to diversify. https://lnkd.in/gfU7N_4Q #NZAdviser #commercialfinance #commercialNZ #diversification #advisernews

How are you keeping up? Home equity lines of credit commitments and closed-end second liens originated in the second quarter of 2024 were up 26.4% from the first quarter, according to a new ranking and analysis by Inside Mortgage Finance. The first half of 2024 showed a 5.9% increase from the first half of 2023. The biggest increases in home equity lending this year have been seen at nonbanks. Rocket Mortgage more than doubled its originations of closed-end second liens in the first half of 2024 from a year ago. #HELOC #MortgageLending #HomeEquity #HomeEquityLoans #RealEstateFinance