PlainsCapital Bank National Warehouse Lending’s Post

Many lenders exited the HELOC origination market in the course of the last 2 years, due to the origination cost associated with HELOC or 2nd lien closed loan. Coming from the SFVEGAS conference, I see that rating agencies are softening on the requirements for HELOCs and 2nd liens. The origination cost should be and is less than $100. If you are paying more, there is an issue with your origination channel or vendors. HELOC or 2nd lien mortgage will need: Title search, AVM, Cedit and Flood check. Some lenders are also using transferable insurance wrapper to have an extra layer of protection on search errors and even 10% variance for AVM values. This is where ProTitleUSA plays today. We can get a Title Report with wrapper and AVM, if needed, to the lender in 24-48 hours and for an extra fee, 50% of US we can run within 4 hours. Some rating agencies or originators set the threshold for 2nd liens to get a Junior Title Policy, say any mortgage over > $250,000 or over $500,000, must most 2nd liens are under. We can coordinate that workflow as well. If you would like to discuss this further, DM me on Linked in to continue the discussion.

Loan originators in retail lending, are you looking to differentiate yourself from the competition? Consider making the switch to the broker channel! With multiple lenders, more product options, better rates, and faster closings, it's no wonder more retail MLO's are making the move. Contact me today and I can help you get introduced to the top mortgage brokers around the country. Let's take your business to the next level! #retaillending #mortgagebrokers #businessgrowth #brokersarebetter #fastereasiercheaper

🚨With the current market dynamics and inflationary environment, interest rates are trending down. ⬇️ Is now the time for you to refinance? Let’s take a look at your individual scenario and options for the best financial picture going forward. 📲954-849-3457 🌎www.joepalopoli.com

Referring Broker: "Do you think we can get a conditional loan approval in the next 24 hours?" . Me: "How do loan documents out to Escrow sound?" . If you are a lender and drop a line like that, you better deliver. Especially when there is a lot on the line for the referring party (THEIR REPUTATION). . Here is a recent funding we put together for a strong referring mortgage brokerage team in San Diego, CA. . Without a complete and organized submission, cooperative listing agents, and an equally strong Escrow/Title company, we could not have moved as quickly as we did on this file. . Timeline: Wednesday: File submitted to S&L Capital Group end of day Thursday: File underwritten with capital allocated Friday: Docs out to Escrow In a position to close the following week. . If 2023 was the year of lenders just drastically increasing pricing out the gate then 2024 has been the year of the re-trade. . I am not saying this is intentional but more so just a lack of understanding on where the end buyer of their paper needs to be. . As a direct asset based bridge lender, we understand that we are not always the first option, there are institutional lenders that can offer comparable leverage for a slightly lower interest rate. . Unfortunately that slightly lower interest rate may come with a dragged out loan committee resulting in a completely changed loan structure than what was detailed on the LOI. . At S&L Capital Group, we do not have a due diligence deposit requirement and have the ability to close in tight closing windows. . With that being said, we have been recommending mortgage brokers get us engaged early in the process as a back up option. That way their client isn't surprised by a new lender being introduced the day they were expecting loan documents. . It just starts with a call. . . . #SLCG #SLCapitalGroup #knowwhoyouworkwith #education #sharingiscaring #assetbasedlender #yourLOIsaidwhat #ABC #trusttheprocess

Direct lenders only have one program and you need to fit their box, they are in control. Not only do you have no comparison to know if their offer is competitive, but commercial lending is very specialized and many times there is a better-fitting lender for your goals. Many direct lender employees also work on salary, with no incentive to fight for your loan or expedite their process. Working with a mortgage broker you gain access to a multitude of lenders, a broker-managed bid process to ensure the best rates and terms, our experience and lender relationships to set you up for success from the start, solve any problems that may arise in the process, and get your loan closed successfully and quickly. Our team will be available to you and working on your loan 24/7 until closing - for no additional net cost. . . Learn More: https://lnkd.in/gesBW3tR . . #creativecommercialgroup #privatelending #commerciallending #privatelender #hardmoney #mortgagebroker #mortgagelender #hardmoneylender #privatemoney #loanshark

FINANCING OPTION FOR BORROWERS WITH "REALLY BAD CREDIT! - No Seasoning Requirement on BK Discharges, Prior Foreclosures, or Prior Derogatory Mortgage History   - Payoffs of Judgments, Charge Offs and/or Collections Not Required   - No Minimum Credit Tradelines Requirement - No Minimum Fico Score - Property types eligible……1-4 Family Investment Properties, Mixed Use, Multi Family, Retail, Office, Warehouse, Automotive (no gas stations)

Though it lost some market share in the fourth quarter, retail still reigns as the biggest source of single-family loans sold to Fannie Mae, Freddie Mac and Ginnie Mae: In 4Q23, 46.63% of all agency loan sales came from the retail channel. Inside Mortgage Finance’s Agency Channel Analysis data report delves into the channel usage of more than 1,500 lenders, reporting on the volume of originations they sourced from each channel — retail, correspondent and broker — for delivery to the three agencies. See what channel combinations are being used to fill the pipeline and use the data to plot out your own best channel choices. https://buff.ly/4cJ0292

Fannie Mae & Freddie Mac have notified a number of small-medium sized financial institutions that they will no longer have access to the secondary mortgage market. This change in policy at the GSEs is going to create additional strain on the balance sheets of local banks and credit unions which will impact the rates/terms available in our local communities. The obvious solution would be a correspondent partnership. However, most correspondent loan programs make it difficult for you to retain your mortgage servicing rights. Our correspondent program is developed with small financial institutions in mind. We want to help you retain that relationship with your member. If you're one of the many banks/credit unions impacted by these changes and you're looking for solutions, let me know. We're here to help!

With rates at the lowest level since May 2023, and a 59% YoY jump in refinance application volume, now is the perfect time for lenders to streamline their refinance loan origination processes. One important way for lenders to increase efficiency and protect against wire fraud is to actively manage their title and closing vendors, choosing to work with a smaller group of thoroughly vetted providers rather than allowing LOs to dictate the vendor choice. Of course, this requires a thoughtful approach to gaining LO buy in. Here's how one of our customers, a top 20 lender, handled this challenge, and experienced significant benefits from an operational and risk standpoint: https://lnkd.in/gFTRTBWv

In the first quarter of 2024, $205.92 billion of loans were sold to Fannie Mae, Freddie Mac and Ginnie Mae. But which channels — retail, broker, correspondent — are lenders using to source their loans? Inside Mortgage Finance’s Agency Channel Analysis data report delves into the channel usage of more than 1,500 lenders, reporting on the volume of originations they sourced from each channel for delivery to the three agencies. See what channel combinations are being used to fill the pipeline and use the data to plot out your own best channel choices. https://buff.ly/4fhuA3c