Today in Mortgages

Today, on "Today in Mortgages," we talk about Mortgage New Daily's article "Purchase Applications Increase as Rates Hit 10-Week Low." This has been a really tough year in the mortgage industry, but this is also a good opportunity to gain some ground with prospecting. This is traditionally a slower time of year for our industry, but loan applications are up and rates have come down a little so why not use this time to set yourself apart, gaining new business.

As mortgage professionals, we need to make sure we are informed about the housing market, so we can coach our borrowers and help them succeed! 

Listen in as we break down today's news!

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FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Today, on "Today in Mortgages," we talk about falling home prices, and its affect on buyers according to Newsweek's article "Home prices are falling. Are buyers biting?" While this article has good points, we discuss that home prices are only dropping in certain areas; not everywhere. Demand is still too high to have pricing fall. It's important to remember that this time of year sales typically decline with the busyness of the holidays.

As mortgage professionals, we need to make sure we are informed about the housing market, so we can coach our borrowers and help them succeed! 

Listen in as we break down today's news!

_______

Grow Your Business: https://join.nflp.com/
______

FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

_________ 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Today, on "Today in Mortgages," we look forward to what 2024 will look like in the mortgage industry. Today's article predicts home sales will rise next year and interest rates will lower. We weigh in on if we think these projections are realistic. 

As mortgage professionals, we need to make sure we are informed about the housing market, so we can coach our borrowers and help them succeed! 

Listen in as we break down today's news!

Article: https://finance.yahoo.com/news/mortgages-could-ultimately-become-more-150000225.html

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Grow Your Business: https://join.nflp.com/
______

FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

_________ 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Today, on "Today in Mortgages," we discuss a proposed change to credit reports by the FHFA. The FHFA wants to go from three credit scores that are typically pulled to two credit scores. We think more homebuyers could be left out, because not all creditors report to all three credit bureau. This could lead to lower credit score, higher rates and higher fees. But one less report could hopefully lower the cost to pull credit. The fees are typically over $100. 

As mortgage professionals, we need to make sure we know how to explain this potential change to credit reports to our borrowers. We want to coach them so that they can succeed and get into the home they want!

Article: https://finance.yahoo.com/news/mortgages-could-ultimately-become-more-150000225.html

_______

Grow Your Business: https://join.nflp.com/
______

FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

_________ 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Today, on "Today in Mortgages," we discuss renting to own your home and whether it's a good idea. This rising trend is used as a stepping stone to home ownership. The nice thing about renting to own, is you negotiate the purchase price today. In markets where prices are ever increasing, you can lock the price in today. A portion of your payment goes into escrow as savings toward a downpayment. 

This option isn't for everyone: If you can afford to buy, just buy. Usually those who choose this option have some credit work, and need to build up their savings.

As mortgage professionals, we need to make sure we know how to explain this option to our borrowers. We want to coach them so that they can succeed and get into the home they want!

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Welcome back, Dreammakers! Today, on "Today in Mortgages," we're talking about whether your primary residence is a good investment. An article from Yahoo Finance states that you shouldn't buy a home solely as an investment. Rich and I discuss this statement giving our opinions on the matter. We believe buying a home for most middle income families is their primary investment, and biggest wealth building tool. Especially when you plan to live in the house for many years. Historically, over the last 81 years there's only been 6 years where home have lost value. We would say that is a pretty good long term investment strategy. 

We know fears are high, and and as mortgage professionals, we need to coach our borrowers around these types of questions. We are here to help, so they can make the best decision for themselves and their families. 

If you found this episode informative, consider joining Rich Inside the Network for daily coaching and more resources to stay smart in the mortgage world. For now, thanks for tuning in to "Today in Mortgages." We appreciate you, and we'll catch you next time!

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Happy Halloween! 

Today, on "Today in Mortgages," we're just having fun talking about all things sPoOkY. We discuss a fun survey from Zillow that says up to 70% of Americans would buy a haunted house if it was at a reduced price. Would you do it? What would it take?

We know the housing market feels haunted, but it's not that scary! As always, we as professionals need to talk with borrowers about their fears, and help them navigate through the home buying process. 

Article: https://zillow.mediaroom.com/2023-10-24-Nearly-70-of-prospective-buyers-would-buy-a-haunted-house-if-it-checked-all-their-boxes 


_______

Grow Your Business: https://join.nflp.com/
______

FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

_________ 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Today, on "Today in Mortgages," we're continuing our conversation about what buyers are doing wrong when home shopping. 

We look at the second half of Tuesday's article today from Realtor.com "10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today."

6) Failing to check your credit score
7) Picking the wrong type of loan
8) Understanding fees involved outside of the downpayment
9) Not preparing for a low appraisal
10) Not shopping around for the right lender

As we mentioned before, as professionals we need to get ahead of these misconceptions, communicating the correct information on the front end to help your borrowers. 

If you found this episode informative, consider joining Rich Inside the Network for daily coaching and more resources to stay smart in the mortgage world. For now, thanks for tuning in to "Today in Mortgages." We appreciate you, and we'll catch you next time!

_______

Grow Your Business: https://join.nflp.com/
______

FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

_________ 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Welcome back, Dreammakers! Today, on "Today in Mortgages," we're talking about what buyers are doing wrong when home shopping. The old adage: consumers are always right is still correct, but the problem is, they don't aways know the answers. Our job as loan officers is to manage the borrowers fears and questions, while kindly advising them. 

We look at an article today that talks about "10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today," from Realtor.com. Some of these mistakes include:

1) Buyers focusing too much on high rates 
2) Assuming you need 20% down payment
3) Assuming you can get a loan instantly
4) Thinking pre-qualified means you are approved for the loan
5) Not considering home buyer programs

As professionals, we need to get ahead of these misconceptions, communicating the correct information on the front end to help your borrowers. 

We will look at the other 5 mistakes on Thursday!

If you found this episode informative, consider joining Rich Inside the Network for daily coaching and more resources to stay smart in the mortgage world. For now, thanks for tuning in to "Today in Mortgages." We appreciate you, and we'll catch you next time!

_______

Grow Your Business: https://join.nflp.com/
______

FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing

_________ 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Welcome back, Dreammakers! Today, on "Today in Mortgages," we're diving into the world of mortgage and real estate news to find out what's real, what's just hype, and what you should really be paying attention to. I'm feeling a little upside down in this world, but Rich is here to steer the ship, thank goodness. We've got a hot topic today - home foreclosures. Are they on the rise or on the decline? Let's find out!

Rich sheds light on the confusion sparked by recent news that home foreclosures are on the rise, despite previous episodes talking about record-low delinquencies. The key here is that many of the foreclosures happening now were already in the pipeline, thanks to a lengthy foreclosure process that takes an average of 1,200 days.

In 2019, foreclosure proceedings were at 0.36% of all U.S. households, which isn't too alarming. In 2022, that number dropped to 0.23%, showing a positive trend. The big foreclosure numbers were seen back in 2010 when a whopping 2.23% of U.S. households were in foreclosure. Foreclosures are typically a last resort for lenders, as it's a costly process that no one profits from.

Today, foreclosures are more likely to occur due to borrower fraud or misrepresentation. It's also essential to remember that catching up on delayed foreclosures from previous years can make the numbers seem inflated. In essence, the 34% increase in foreclosures from a year ago is due to these backlogged cases, not necessarily a fresh crisis.

So, don't panic! The majority of homeowners are in a stable position with lots of equity and secure jobs. Most of what's being talked about regarding foreclosures is hype. Rich's final thoughts? Mostly hype! Thanks for keeping us right side up, Rich.

If you found this episode informative, consider joining Rich Inside the Network for daily coaching and more resources to stay smart in the mortgage world. For now, thanks for tuning in to "Today in Mortgages." We appreciate you, and we'll catch you next time!

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GROW your business inside the network!

Link to the article discussed today from Fox Business 

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.