Here’s some Q&A with regard to the home loan approval process: “What do underwriters do?” Once you actually apply for a home loan, your mortgage application will be organized by a loan processor and then sent along to a loan underwriter, who will determine if you qualify for a mortgage. The underwriter can be your… Read More »What Do Mortgage Underwriters Do? Decide If You’re Approved! The post What Do Mortgage Underwriters Do? Decide If You’re Approved! appeared first on The Truth About Mortgage ..read more

We’ve finally got data for 2023 and United Wholesale Mortgage (UWM) left no doubt that it was the top mortgage lender during the year. And by a wide margin. The Pontiac, Michigan-based company mustered an impressive $108.5 billion in home loan volume, despite only operating in the wholesale lending channel. That was more than enough… Read More »Top Mortgage Lenders of 2023: UWM Finally #1 After Rocket’s Reign Comes to an End The post Top Mortgage Lenders of 2023: UWM Finally #1 After Rocket’s Reign Comes to an End appeared first on The Truth About Mortgage ..read more

Well, so much for mortgage rates falling just in time for the spring home buying season. While many expected interest rates to be lower by now, they’ve proven to be pretty sticky at current levels. At last glance, the 30-year fixed is still hovering close to 7%, albeit better than October 2023 when it was… Read More »Fannie Mae and Freddie Mac Expect Mortgage Rates to Be Higher for Longer The post Fannie Mae and Freddie Mac Expect Mortgage Rates to Be Higher for Longer appeared first on The Truth About Mortgage ..read more

The Biden Administration has just unveiled a number of proposals to make homeownership more affordable. Aside from legislation to build and renovate more than two million homes, they are calling on Congress to approve a pair of new “mortgage relief credits.” One targets prospective home buyers grappling with significantly higher mortgage rates, while the other… Read More »President Biden Proposes New $10,000 Mortgage Relief Credits The post President Biden Proposes New $10,000 Mortgage Relief Credits appeared first on The Truth About Mortgage ..read more

Lately, mortgage rates have surged higher, climbing from as low as 2% to over 8% in some cases. Despite this, home builders have been enjoying healthy sales of newly-built homes. And somewhat incredibly, they haven’t had to lower their prices in many markets either. The question is how can they continue to charge full price… Read More »Why Don’t Home Builders Lower Prices If Mortgage Rates Are Way Higher? The post Why Don’t Home Builders Lower Prices If Mortgage Rates Are Way Higher? appeared first on The Truth About Mortgage ..read more

It’s official. United Wholesale Mortgage (UWM) is the nation’s largest mortgage lender. The Pontiac, Michigan-based wholesale lender took the top spot for all of 2023 after easily beating out former #1 lender Rocket Mortgage. In total, the company funded $108.3 billion in home loans during the year, compared to Rocket’s $78.7 billion tally. Crosstown rival… Read More »UWM Is Officially the Nation’s Largest Mortgage Lender The post UWM Is Officially the Nation’s Largest Mortgage Lender appeared first on The Truth About Mortgage ..read more

I had a conversation with a friend the other day about his current housing situation. In a nutshell, the home he resides in isn’t large enough for his family, nor does it have certain amenities like a swimming pool. At the same time, he loves his home and the very cheap mortgage attached. Like millions… Read More »Is Rent Out and Rent the New Way to Move to a Different House? The post Is Rent Out and Rent the New Way to Move to a Different House? appeared first on The Truth About Mortgage ..read more

If you’ve recently applied for a home loan and been bombarded by competing offers, a “trigger lead” might be to blame. Simply put, when your credit is pulled, other creditors may be alerted in real-time. Armed with your contact information and your intent, they can reach out with competing offers via phone, email, or even… Read More »What Is a Trigger Lead? The post What Is a Trigger Lead? appeared first on The Truth About Mortgage ..read more

With the winter break now finally behind us, it’s time to talk mortgage rates again. Lately, they’ve been on the minds of anyone even remotely interested in buying a home. Or selling a home for that matter, as that can affect home buyer demand as well. The good news is most forecasts are calling for… Read More »A Record High Share of Consumers Believe Mortgage Rates Will Go Down Over the Next 12 Months The post A Record High Share of Consumers Believe Mortgage Rates Will Go Down Over the Next 12 Months appeared first on The Truth About Mortgage ..read more

Well, another year is nearly in the books, which means it’s time to look ahead to what the next 365 days have in store. While 2022 felt like it couldn’t get any worse, 2023 surprised all of us by being an even rougher year. Thanks to the highest mortgage rates in nearly a century, loan… Read More »2024 Mortgage and Real Estate Predictions: Lower Rates and Falling Home Prices? The post 2024 Mortgage and Real Estate Predictions: Lower Rates and Falling Home Prices? appeared first on The Truth About Mortgage ..read more