Sourcepoint ’s Post

In Q4, production revenue rose to 334 bps, while per-loan revenue dipped to $10,376. The purchase share hit 87%, outpacing the industry's 81%. Average loan balances fell to $336,757, and production expenses per loan climbed to $12,485. Productivity per employee dropped to 1.1 loans. Servicing income turned negative at $24 per loan. #FinancialTrends #MortgageIndustry #LoanProduction #Q4Earnings

New Account Originations Declined Across All Products Except Auto In February, new account originations declined across all products except Auto Loans, which rose modestly for the first time in nearly five months as high inventory levels drove incentives and promotions. Account Originations Insights: ✔️ Personal Loan originations declined the most month over month, down 0.31%. This was likely due to stricter lending requirements combined with higher interest rates. ✔️ Mortgage originations saw their fifth consecutive month of decline, while Credit Card originations fell across all generations except Silent (1928-1945), which saw a minor increase. To view the full CreditGauge report, visit the VantageScore website: https://lnkd.in/eVpUFtcy #VantageScore #CreditGauge #autoloan #credit #consumertrend #accountoriginations

Inflation + rising costs on everything = many people are facing more credit card debt. Although rates are higher than they were post-COVID, doing a cash out refinance can eliminate debt and at a much lower interest rate than the 21-25% most are paying on their credit cards. I am always happy to discuss refinancing options! teamdrudge.com 99.26% Customer Satisfaction Rating 15 Days or less average clear-to-close HomeNow 100% Down Payment Assistance Program Wide range of mortgage products 22 years+ of 5-star customer reviews

Credit scores are influenced by several factors, with the most impactful being: ⏩𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐇𝐢𝐬𝐭𝐨𝐫𝐲: Timely bill payments have the greatest impact, considering missed or late payments, duration of unpaid bills, and frequency. ⏩𝐀𝐦𝐨𝐮𝐧𝐭 𝐎𝐰𝐞𝐝: This includes overall debts to creditors, specific account balances, and the utilization of available credit. ⏩𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐂𝐫𝐞𝐝𝐢𝐭: The diversity and total number of accounts (credit cards, retail, mortgage, installment loans) play a role in shaping your credit score. ⏩𝐍𝐞𝐰 𝐋𝐨𝐚𝐧𝐬: Recent applications for credit, especially with various lenders in a short timeframe, may lower your score, especially for those with a relatively short credit history. ⏩𝐋𝐞𝐧𝐠𝐭𝐡 𝐨𝐟 𝐂𝐫𝐞𝐝𝐢𝐭 𝐇𝐢𝐬𝐭𝐨𝐫𝐲: The age of your oldest and newest accounts, along with the average age of all accounts, contributes to the calculation of your credit score. Reach out to me if you would like to know how to build and maintain your credit score! #mortgage #mortgagerates #interestrates #creditscore #creditrepair #firstimehomebuyer #financialliteracy #debtconsolidation

Is Consumer Credit Health Trending Up? Originations Rose and Delinquencies Continued to Drop According to April 2024 CreditGauge™ New accounts in Credit Cards and Personal Loans saw a significant increase in April, following three months of decline. Credit Cards rose 0.24% to 3.2% and Personal Loans rose 0.41% to 2.50%, outpacing other products. Auto Loan originations climbed for a third straight month, signaling a possible shift toward easier borrower qualifications for car loans amid a tough consumer credit landscape. New mortgages rose by 0.03% compared to the previous month as the spring buying season began. Read the full April 2024 VantageScore CreditGauge here: https://lnkd.in/eVpUFtcy #VantageScore #CreditGauge #credit #personalloan #creditcard #autoloan #mortgage #finance #originations

HOLY S#!$! MMI recently released data that is mind-blowing for the loan industry. In 2023, there were approximately 550K loan officers, but close to 500K of the licensed loan officers didn't close 2 loans a month! This means that if you closed 30 loans last year, you are in the top 10% of the industry. This data supports my thesis that we could lose 30% of loan officers to start 2024 and then again to start 2025. However, this could lead to a healthy and sustainable number of around 275K loan officers in 2025. Loan officers need to embrace these changes quickly. #mortgage #loanofficer #market

Last week I mentioned the Mortgage Bankers Association's Q124 Performance Report that said IMBs "only" lost $645 per loan, compared to the $2109 loss per loan in Q423. Freddie Mac also released its 2024 Cost to Originate Study and found that the top cost-effective retail lenders produce loans at half the industry average cost. Let's talk about how InGenius data can help you use these insights to your  maximum benefit.   #actionableintelligence #growthmultiplier #recruitright

Discover the NOVA difference in home buying or refinancing! Soft credit checks, advanced loan support, and FREE credit enhancement with "Home on the Horizon". Soft credit checks that protect your FICO score. Advanced qualification support for the best loan options and terms. FREE access to our "Home on the Horizon" program for credit enhancement. Connect with NOVA on a lending journey that genuinely prioritizes you. ??? #NOVAHomeDreams #SecureYourFuture #HomeBuyingMadeEasy

Executives, Managers and Loan Officers: We are all looking to lower costs, improve efficiencies and to close more loans. Every loan counts these days and they must close. Our bottom line is depending on it. So why are we doing the same things we have always done in the past? Now is the time to take a deep dive and look at the way we are doing business. If we don’t history will repeat itself and the industry will go through yet another cycle. It’s time to invest in your business. It’s time to achieve significant results, different from the past. The stats on this chart are real and time to invest in finding out how this can be achieved. The old adage is true TIME = MONEY. Take the next step and schedule a free 15 minute demo at: https://lnkd.in/gy2QyYAR LANIS TIER|ONE is the Cloud-Based Most Efficient Mortgage Prequalification, Presentation, and Compliance software available today. All Three Features must be in your software tool to improve Loan quality and the submit to close ratio. For a 15 Minute Executive overview schedule your time with this link: https://lnkd.in/gy2QyYAR It’s time to Change the Game and make 2024 a Great year! Don’t wait, schedule your executive overview today. https://lnkd.in/gy2QyYAR Randy Senzig Founder and CEO www.golanis.com  805-498-4843 rsenzig@golanis.com #mortgagebrokers

W𝗵𝘆 𝗣𝗮𝗿𝘁𝗻𝗲𝗿 𝘄𝗶𝘁𝗵 𝗔𝗣𝗠? ✔️𝟭. 𝗛𝗶𝗴𝗵𝗲𝗿 𝗥𝗲𝘁𝘂𝗿𝗻𝘀: Sophisticated Investors can access returns ranging from 𝟵.𝟱%–𝟭𝟬.𝟱% 𝗽.𝗮, 𝗶𝗻𝗰𝗼𝗺𝗲-𝘆𝗶𝗲𝗹𝗱𝗶𝗻𝗴 𝗖𝗥𝗘𝗗 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀, surpass traditional fixed-interest options. ✔️𝟮. 𝗙𝗶𝗿𝘀𝘁 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗔𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀: We offer secure lower risk; 1ST Mortgage loans generally geared around 66% loan to value ratio. These 𝘄𝗲𝗹𝗹-𝗳𝘂𝗻𝗱𝗲𝗱 𝗙𝗶𝗿𝘀𝘁 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗔𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀 are meticulously designed to cater to borrowers’ short-term funding needs, ensuring your investment is secure. ✔️𝟯. 𝗦𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Our focus is to provide high-quality loans that ensure stable Alternative Investments options. We address the void in First Mortgage lending that banks and secondary funders overlook, with an average of 𝟰𝟬% 𝗿𝗲𝗽𝗲𝗮𝘁 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿𝘀. Are you looking for Professional Guidance on Accessible Alternative Investment Opportunities? Rest assured, our highly experienced 𝗔𝗣𝗠 𝘁𝗲𝗮𝗺 𝗶𝘀 𝗵𝗲𝗿𝗲 𝘁𝗼 𝗽𝗿𝗼𝘃𝗶𝗱𝗲 𝘆𝗼𝘂 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗮𝗱𝘃𝗶𝗰𝗲 𝗮𝗻𝗱 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗟𝗲𝗻𝗱𝗶𝗻𝗴 𝗻𝗲𝗲𝗱𝘀. Notes: This loan is open to wholesale investors only. T&Cs apply. This post is not an offer, APM has the right to reject any investor that does not meet its requirements. #PrivateLending #CommercialRealEstateDebt #InvestmentOpportunities #CREDFinance #PropertyInvestment #CREDeals #RealEstateInvestor #CREDNetworking #PrivateMoneyLending #CREDInsights