If you’re wondering which mortgage company originated the most home loans last year, stop wondering and take a look.
Most people know Wells Fargo is king when it comes to mortgages, and 2015 was no different. But what about the other top 39 lenders?
Well, thanks to some great visualization software from Tableau and some generosity from Richey May and Co., we can see who the major (and slightly less major) players are.
The graphs below are based on Home Mortgage Disclosure Act (HMDA) data, which covers about 95% of all residential mortgages. The raw data was made readable thanks to the pair mentioned above.
Wells Fargo Remained Mortgage King in 2015
Unsurprisingly, San Francisco-based Wells Fargo retained its crown as the top residential mortgage originator in 2015, registering volume of $119.2 billion.
That gave it about 7.3% of the total market share in the United States. While it might not seem like a lot, its closest competitor had nearly half that share.
For the record, its market share has fallen for the past couple years, from 10.5% in 2013 to 7.8% in 2014.
Before we talk about the others, let me add that Wells’s production was 88% conventional and just 5% FHA. There was a sliver of USDA lending in there too.
As far as transaction type, 52% was for a home purchase and 48% was for a refinance.
Quicken Grabbed the Second Spot
Coming in a relatively close second was Quicken Loans, with $74.6 billion in total volume representing a 4.6% market share.
The nonbank mortgage lender saw its market share rise just slightly from a year earlier, but volume was way up from the $55.8 billion seen in 2014.
While conventional loans made up the lion’s share of its production (70%), FHA accounted for a decent chunk (19%) and VA home loans accounted for 11%.
After their very public lawsuit with the Department of Justice over alleged faulty FHA underwriting, my guess is FHA lending will be a lot lower in 2016.
More interestingly, 80% of their total production was refis, with just 20% of volume involving a home purchase. We’ll see if Rocket Mortgage can eventually propel them to the top.
Chase took the third position overall with $62.7 billion in total production, representing a 3.8% market share. That was up from $42.2 billion and 3.5% a year earlier, respectively.
The big New York City-based bank doesn’t seem to like FHA lending seeing that 98% of their production was conventional. It was split fairly evenly between refi (56%) and purchase (44%).
Bank of America came in fourth with $51.9 billion and 3.2% market share. Production was actually up from 2014 but market share still slipped slightly.
They too eschewed FHA, with 96% of production coming via the conventional route. Refis accounted for 59% of production with 41% purchases.
Rounding out the top five was Loan Depot, a nonbank that managed to grab about 1.6% of total market share on a healthy $25.8 billion in production.
The company exhibited a solid mix of lending, with 68% conventional, 18% FHA, 14% VA, and a bit of USDA as well.
They too had a heavy share of refis (67%) versus purchases (33%), which is common with the nonbanks.
People tend to get purchase mortgages from the big banks they already do business with, though it’s not always the case.
The lower half of the top 10 included the likes of US Bank, Flagstar, Citi, Freedom Mortgage, and Caliber Home Loans.
You can see the rest of the names in the graphic above.
Independent Mortgage Lenders Saw Gains in 2015
As you can see from this graph, independent mortgage lenders have been chalking gains over the past few years as the big boys lose market share.
The indie group saw its market share rise from 36% in 2013 to 45% last year. Part of that had to do with the rising number of independent mortgage companies. Perhaps they’ll surpass 50% in 2016.
Meanwhile, the large commercial banks saw their market share fall from 54% in 2013 to just 45% in 2015. The number of commercial banks has also dwindled, which could explain some of the decline.
Credit unions have held a fairly steady ~5% share for the past several years and mortgage companies owned or affiliated with a depository have held a similar share.
And now a few more interesting tidbits:
Top conventional mortgage lender in 2015: Wells Fargo Top FHA mortgage lender in 2015: Quicken Loans Top USDA mortgage lender in 2015: PrimeLending Top VA mortgage lender in 2015: Freedom Mortgage Top purchase mortgage lender in 2015: Wells Fargo Top refinance mortgage lender in 2015: Quicken Loans
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Term life insurance is an important investment that can protect your family’s assets at any stage of your life and getting affordable life insurance rates is important for protecting your budget right now.
Depending on your age though will also determine how much you need, how long you need it for, is term or a guaranteed policy the best.
Below is a quick guide on the different ages and what you should consider when buying life insurance. I’ve also included links to relative articles that go more in depth on each age bracket.
Here’s what you need to know to get cheap life insurance at any age.
Whether you are single or married, a part of a large family or a small one, purchasing insurance is a responsible step that everyone should take so that loved ones will be provided for.
Know your family’s budget and how the life insurance rates will fit within your budget. Knowing this dollar amount will keep you from being “oversold” by an agent trying to earn higher commissions. The premiums must fit within your budget.
Be aware that each person’s life insurance needs for death benefit amounts are different. We will look at this in more detail later, but just because your buddy or co-worker bought a million dollar life insurance policy doesn’t mean that you need to.
Understand that life insurance companies have different underwriting guidelines and that you HAVE to compare rates from different companies to be confident you’re getting the lowest life insurance rates available for you based on your lifestyle, your medical conditions, and your age. (We compare rates from different companies for you.)
Be thinking about the following numbers (to help determine the death benefit needed):
How much family debt you have (mortgages, credit cards, autos, etc.)
College education dollars needed for children in the household
Ongoing income dollars for a surviving spouse (if applicable)
Estimated amounts of funeral costs
Any philanthropic dollars you might wish to leave to a favorite charity
How much life insurance do you have now, for how long (ie, 20-year term), and is it a permanent policy like whole life or universal life
This is related to #3. It might not be in your best interests to buy life insurance from agents that only represent one company and can’t offer you quotes from several different companies. Some of these life insurance companies are Northwestern Mutual, New York Life, and others who have agents that only sell their life insurance plans.
Life Insurance Rates By Age
Purchasing life insurance is very important, and generally speaking, one of the main factors in pricing life insurance from the insurance company’s viewpoint is how old you are.
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Your age will help you determine how much death benefit you need to apply for, how long you need it for, and whether term or a guaranteed policy is the best plan that suits your needs.
Obviously, it just makes common sense that the older you are, the less number of years you are expected to live.
Life insurance companies call these “mortality tables”, and they use these mortality tables to actuarially determine how much they should charge for life insurance.
These CSO mortality tables have been adopted by most state insurance departments to allow companies to use them in determining the premiums they should be charging for their life insurance policies.@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-banner-1-0-asloadedmax-width:580px!important;max-height:400px!important
Remember though that even these life expectancy charts are used differently by different life insurance companies.
We can provide you with several life insurance company reviews such as Banner Life Insurance for you to learn more about what each company has to offer, so make sure to check those out as well!
Many people put off buying life insurance because it doesn’t seem to be an immediate need or priority to fit in the family budget.@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-large-leaderboard-2-0-asloadedmax-width:300px!important;max-height:250px!important
Here are 3 critical reasons to apply for life insurance now and to not put it off any longer:
You really aren’t getting younger. As just mentioned above, as you get older your rates are going to increase. The best day to buy life insurance is today.
If you don’t have any major health conditions that would cause your life insurance rates to be surcharged, get your life insurance now while you are in good health. If you do have medical conditions, get your life insurance now before your health gets worse. If it improves later, then you can always reapply for lower rates.
You never know what the future holds. Take care of your loved ones now and go ahead and check “buying life insurance” off your list. Whether you end up getting quotes from us (Compare Rates form on the right), or from someone else, go ahead and do it.
Now, let’s discuss issues based on various ages. We will first start with the Millennials……
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Life Insurance for Your 20s
In your 20s, life insurance is inexpensive and easy to get. At this age, you can expect an enormous number of term life options at affordable prices. By getting life insurance at this early stage, you can protect a young and growing family from financial hardships and do so inexpensively.
Going ahead and buying life insurance now is a great decision to make at this young age. It is better than waiting until you are older, possibly having health issues and having to look into the option of life insurance without a medical exam, which is defaulted to a higher rate because of the poor health you may have at older ages. Starting young and healthy is the way to go!
Depending on your income and family budget, you could consider both permanent life insurance or inexpensive term life insurance.
If you don’t have children or large assets to protect, choose a policy of at least four times your annual income. If you do have children, the number of children, your spouse’s income and your other debts should all factor into the amount of insurance you purchase.
Read more on buying Term Life Insurance in Your 20’s
Life Insurance for Your 30s
In your 30s, you likely have a family and assets that need to be protected with a life insurance policy. Your income may be higher during this period, necessitating a larger policy to meet bigger financial needs. Some life insurance buyers purchase a second policy in their 30s to supplement the policy bought in their 20s.
If this is your first time to purchase term life insurance, be sure to get enough to cover your family’s needs and to pay off your home and other large debts. A general rule is to purchase at least 10 times your annual income, and in your 30s this is generally an affordable option.
@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-leader-1-0-asloadedmax-width:728px!important;max-height:90px!importantThis amount of death benefit may seem to be higher than what you would normally consider, however, if you lose one of your family incomes due to death, there would be a huge financial pressure to try and make up the difference, or either the surviving spouse would have to drastically reduce expenses.
The mortgage still needs to be paid, most kids still need to go to college, there would be funeral expenses, etc. Speaking of mortgages, we typically do not recommend buying mortgage life insurance from the letters you get in the mail from life insurance companies just after you have refinanced your house, for example.
They are usually overpriced. You can normally get much better rates by using our Compare Quotes tool as we compare rates with many different insurance companies.
During these years would also be a good time to consider a permanent life insurance policy, which begins to build some cash value. This would be a good discussion question for your life insurance advisor.
By your 40s, you likely have significant assets to protect. If you have not bought a life insurance policy yet, it’s important to do so before the rates rise even more in your 50s or future health conditions, such as diabetes, make it more difficult to get insurance.
Financial experts agree that even if you already have a policy in place, your 40s is a good time to sit down with your finances and reevaluate your insurance needs. You may find that you need a supplemental policy to take care of new responsibilities that weren’t present in your 30s.
With today’s economy and lifestyles (increase in divorce rates), many individuals and families are still deep in debt. This is not a time to be slack in taking care of potential financial disasters (such as the loss of a spouse and their income), but rather a time to take care of life insurance needs.
Read more on buying Term Life Insurance in Your 40’s
Life Insurance for Your 50s
As you enter your 50s, you will have different insurance needs than you did in years past. You may have grown children who can provide for themselves. Your house may be paid off, and you may need to cancel that mortgage insurance policy if you had one.
However, there are still many expenses that a term life policy can assist your family with paying. A term policy can be used to fund a trust, to provide your family with inheritance and to provide a liquid asset for your estate. Life insurance will be more expensive at this age, and that expense will go up if you have significant health problems. However, even at the increased rates, term life insurance is still an affordable insurance option.
You may find yourself at this point either experiencing or have experienced the loss of a parent or loved one, and personally now understanding the financial aspects of that event whether good or bad.
@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-large-mobile-banner-1-0-asloadedmax-width:336px!important;max-height:280px!importantIf you have experienced that situation, you will have found out that life insurance proceeds are handled outside Probate Court, and are much easier to deal with than all the other legal issues of handling someone’s estate.
One other important issue to consider during this stage of life is if you might have some type of business life insurance need. This could be from a Key Man life insurance standpoint, or maybe life insurance to fund a Buy-Sell contract between partners that own a business. Additionally, if you are a Sole Proprietor that owns a business, you might want to have a one-way Buy Sell arrangement with a friendly competitor.
Life insurance rates for business policies may generally be lower per thousand dollars of death benefit because usually these type plans having higher death benefits. Companies usually have “life insurance rate bands” and there are discounts as the death benefits get higher.
Any of the above business life insurance needs are very critical, and can also help a surviving spouse if you have some type of “business will”. A death of a spouse is a traumatic event, even if expected, so minimize the additional responsibilities that person may have to deal with as much as possible by prior planning.
Read More On Buying:
Life Insurance for Your 60s
In your 60s, you may not have dependents who need your income, but term life insurance can still provide a level of support for your loved ones in the future. If you don’t have enough death benefit coverage by the time you reach your 60s, purchasing a policy as soon as possible is vital.
Hopefully during these years most of your debt is reduced to a manageable level, college debts for your kids have been taken care of, and your main need for life insurance would be to help pay for final burial expenses, ongoing income to supplement social security benefits for a surviving spouse, as well as to provide a charitable gift for a local nonprofit you might be actively involved in.
If you wait until age 65, you will have far fewer insurance options. Some companies simply won’t sell a policy to anyone 65 or older. At this stage of life, you can expect rates to be more expensive, but they will still cost significantly less than whole life policies.
Read More On Buying:
Affordable Life Insurance Rates For Seniors
Even seniors age 80 need life insurance coverage. With advances in medicine and health care facilities, people are living much longer. Some of the needs for life insurance for seniors are the same as those mentioned for folks in their 60’s.
Rates for life insurance for seniors do not have to bust your budget, however. It’s still possible to get affordable life insurance as a senior citizen.
Many times there are medical issues that do cause life insurance rates to be higher than they are for those without medical conditions.
However, even with medical conditions, there are many good guaranteed life insurance policies for the elderly.
If you’re ready to see real pricing, get a life insurance quote now.
An eye-popping structure in Glastonbury, CT, that appears to be floating among the trees is this week’s most popular home on Realtor.com®.
The Cedar Bridge House was designed by architect Wilfred Armster and appears to hover some 50 feet above the wooded lot, anchored to a steel support structure above the garage.
Other offerings you clicked on this week include an affordable tiny home in Colorado, a retro residence in Vermont, and the former home of the Galveston Wedding Chapel in Texas.
For a full look at this week’s 10 most popular homes, keep on scrolling.
Price: $829,000 Why it’s here: This Normandy-style Tudor features many period details: casement, boxed-out windows; stone parapet walls; exposed-beam ceilings; preserved hardwood flooring; and even a window seat.
Offering five bedrooms, this petite castle was built in the 1930s. The living room comes with a stone fireplace and built-in seating.
On the market for just 11 days, the home is already pending sale.
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Price: $210,000 Why it’s here: This adorable and affordable tiny home boasts a modern interior.
Built in 2021, this two-bedroom abode is part of a small-home community. Offering just 670 square feet of living space, the home is bright and airy and features many modern amenities. A floor-to-ceiling electric fireplace can be found in the combined living-dining area.
The first-floor primary bedroom has direct access to a patio. A spiral staircase leads to a second bedroom/loft area. The property is pending sale.
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Price: $149,000 Why it’s here: What a deal! This modestly priced farmhouse needs some TLC, but there’s a lot of charm and character.
The three-bedroom home was built in 1878. Period details include wide-plank floors and arched ceilings. Recent updates include a new metal roof and a modernized kitchen with lots of cabinet space.
The 2.6-acre lot comes with a detached barn with a workshop. The property is pending sale.
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Price: $499,000 Why it’s here: The bland exterior of this home hides a surprising log cabin interior.
The three-bedroom home was custom-built in 2015 on a 10-acre wooded parcel. The two-story living room features a floor-to-ceiling stone fireplace, and the large windows let in plenty of natural light. Out back, there’s a hot tub.
The home is pending sale.
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Price: $4,900,000 Why it’s here: This enormous, seven-bedroom estate comes with a brick-walled wine cellar, cozy bar, spa with indoor lap pool, fitness center, and home theater.
The 10,159-square-foot floor plan boasts custom millwork and six fireplaces. The wood-paneled library has a coffered ceiling, built-in bookshelves, and a fireplace with an ornate mantelpiece.
The 16-acre lot also features six garages, a carriage house with two apartments, and a tennis court.
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Price: $625,000 Why it’s here: Inspired by midcentury modern style, this home was designed by architect Charles Marks.
The home was built in 1974 on a 14-acre parcel in the Green Mountain State. The bright living room is lined with windows and built-ins, and features a fireplace. The 3,000 square feet of living space includes a dining area with a raised ceiling and sliders that open to a bluestone terrace with an in-ground pool.
The primary suite has a fireplace, built-in bed, and bathroom with cedar walls. The property is pending sale.
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Price: $510,000 Why it’s here: This large, log cabin comes with a matching, four-car garage.
The three-bedroom home features vaulted ceilings and hardwood floors. The great room boasts a floor-to-ceiling stone fireplace, and the spacious kitchen comes with a curved island with seating. Two en suite bedrooms are upstairs, and the third is located on the lower level.
The 1.4-acre lot is private and wooded.
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Price: $799,900 Why it’s here: This fabulous farmhouse on 6 waterfront acres overlooks the Clinch River. The spot is ideal for launching a boat, kayaking, or fishing.
The three-bedroom, 1,857-square-foot home boasts a two-story family room with a stone fireplace and a kitchen with custom cabinets. Two bedrooms are located on the main level, and the primary suite with a private balcony can be found upstairs.
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Price: $799,500 Why it’s here: Here comes the chance to live at the former site of the Galveston Wedding Chapel!
While the wedding business itself is not for sale, all of the furnishings of the turnkey place are negotiable, according to the listing.
The waterfront property offers Gulf views from the top floors. The chapel is on the main level, and two bedrooms are upstairs.
The 2,211-square-foot interior also includes a formal parlor for cocktails, an elevated area for ceremonies, and an outdoor gazebo for photos.
There are also multiple terraces and patios to take in the views.
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Price: $497,000 Why it’s here: The innovative Cedar Bridge House, designed by architect Wilfred Armster, appears to float among the trees.
Built in 1983, the two-bedroom residence has been on and off the market over the past three years, with an original list price of $530,000. As several calls to the listing agent have gone unreturned, we (and social media) are left wondering why this modern marvel hasn’t sold.
The unconventional, bridge-like design features 2,118 square feet of living space filled with skylights and windows. The stylish kitchen has granite counters, a wine cooler, and high-end stainless-steel appliances, according to the listing. The minimalist living room offers a sleek fireplace.
The primary bedroom includes access to one of two decks. A third deck boasts a hot tub and views of the 3-acre lot.
A 20-year battle over the fate of a rugged, verdant hillside in Los Angeles is barreling toward an epic conclusion as developers move forward with plans to construct a luxury housing project in the Verdugo Mountains, above the Sunland-Tujunga neighborhood.
The Canyon Hills development project, approved by the Los Angeles City Council in 2005, is awaiting one final rubber stamp before crews can begin clearing hundreds of acres to make way for 221 homes.
Nevada-based developer Whitebird Inc. says it is within its rights to proceed with the project, which was granted a 20-year window of completion when it was initially approved nearly two decades ago.
But community members, neighborhood officials and other opponents say a lot has changed since then, and insist the development will harm wildlife in the area and put residents in the path of worsening wildfires. They’re calling for the project to be halted — or at least delayed — until a new environmental impact report can be conducted.
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“I just think 20 years is a long time in terms of climate conversations and environmental concerns,” said Emma Kemp, a Tujunga resident and co-founder of the group No Canyon Hills, which began a campaign opposing the project. A petition it started in February has more than 165,000 signatures.
“Before you start chopping down this mountain based on a report that was conducted in 2003, can we just reassess so we can make sure that we are taking really responsible precautions?” she asked. “You know, once you cut it up, you can’t go back.”
The project site runs north of the 210 Freeway and offers sweeping vistas of Los Angeles. On a recent hike around the area, the landscape was alive and buzzing with insects and green vegetation fueled by this year’s wet winter.
Adam Gelbart and Devon Christian, two amateur naturalists who regularly comb the hills there, have spotted a number of plants and critters they say would be threatened by the project, including live oak trees, rare bumble bees and lizards, and the critically imperiled Davidson’s bush mallow plant, which grows only along the Central Coast and in the hills around Tujunga.
“These are the last crumbs of a much larger ecosystem,” Christian said as he swished through chaparral and knee-high brush. “These ecosystems support a myriad of life — not only insects but also birds, larger carnivores. It’s all tied together, and if you see it within the larger context of biodiversity loss across the planet, we really need to fight to protect any last scrap of biodiversity that’s out there.”
Residents have also spotted mountain lions in the area, which alone should be enough to warrant a new environmental impact report, opponents say. Southern California’s mountain lions have reached a critical threshold in recent years as human development squeezes the landscape and leaves lions in the path of speeding cars.
The environmental impact report, finalized in 2004, found no evidence of mountain lions or bobcats at the time. And while the city’s development agreement acknowledges that “significant and unavoidable impacts will result from implementation of the project,” it concludes that “the benefits outweigh and override” such impacts.
Cited benefits include providing a substantial amount of high-quality housing to accommodate population growth in the area, as well as the creation of hundreds of construction jobs. The agreement also states that the project will replace old oak trees with new plantings that will benefit the habitat, and will decrease fire risk in the area by introducing fuel modification zones.
But in the nearly two decades since that agreement was approved, at least three wildfires have seared the area, including the La Tuna fire of 2017, which burned about 7,200 acres and destroyed five homes. The remnants of charred trees and structures can still be seen in the hills today.
The community was also threatened by the Station fire of 2009 and the Sand fire of 2016, both of which prompted the evacuations of thousands of people. Sunland-Tujunga Neighborhood Council President Lydia Grant said she fears the project will leave more residents in harm’s way.
“Our community is a high fire danger area, and we do everything we can to keep the building off the hillsides because it’s just not safe,” she said. The Los Angeles Fire Department ranks the area as a very high fire hazard severity zone.
Grant said adding more homes and people to the wildland-urban interface could also put pressure on the community during an evacuation. The two major arteries in the area, Foothill Boulevard and La Tuna Canyon Road, have both been “road-dieted” from two lanes to one in recent years, she said.
“Now you’re adding that onto one lane in a high fire danger area. … This is just adding gasoline to a fire,” Grant said.
Such conditions are not unlike those that spurred a judge to pause a luxury development project in Lake County last year until further assessments of wildfire evacuation routes could be completed. Judges in recent years have also halted developments in a fire-prone part of San Diego County and the Tehachapi Mountains in Los Angeles County due to fire risk.
Grant said she has not heard from any community members in favor of the development. Los Angeles City Councilwoman Monica Rodriguez, who represents the area, declined to speak with The Times about the project.
Jack Rubens, an attorney for the developer, rejected the claims about fire danger, saying the project will in fact reduce the wildfire risk for existing residents to the north and east of the site by providing a new southern evacuation route to La Tuna Canyon Road and the freeway.
The project will also include a new million-gallon water tank close to the existing neighborhoods, which can be used by firefighters “who will have far superior access to the hillside after the project’s road system is constructed,” Rubens said. He added that future residents of the development will also be protected by a 200-foot-wide fuel modification zone that includes about 100 acres of land.
Rubens said concerns about mountain lions are similarly unfounded and noted that the original environmental impact report determined that the project would not interfere with local or regional movement of the animal. Should such movement occur, it would be outside of the development area, he said.
He added that in the wake of the initial approval, Whitebird and developer Rick Percell agreed to eliminate a portion of the project site south of the 210 Freeway, donating about 600 acres of land to an affiliate of the Santa Monica Mountains Conservancy for permanent preservation, so “the public has therefore already received an enormous public benefit,” he said.
Paul Edelman, deputy director of the Santa Monica Mountains Conservancy, said developing the remaining acres would still amount to a considerable ecological loss.
“As a mountain range, [the Verdugos] are big enough to sustain subpopulations of all the animals we’re concerned about, and that is the key, because they’re just big enough to do that,” he said.
“As you start to take big chunks out of it, it degrades the whole system — you don’t have enough critical mass for one or two mountain lions or a healthy bobcat population,” he said. “It’s already so small that taking a big chunk out of it hurts a lot more than, say, if the equivalent-sized development happened in the Santa Monica Mountains.”
He and other opponents of the project acknowledged that the city’s hands are probably tied by the agreement, especially in this eleventh hour.
Whitebird recently pulled a grading permit that would allow it to begin leveling the pads for properties as soon as it’s approved. City officials could face a lawsuit from the developer should they try to intervene.
Under the agreement, additional environmental clearance could be required under the California Environmental Quality Act if there are substantial changes in the project, including new information showing that the project will have “new or more severe significant effects” than those described in the original environmental impact report.
Rubens said that’s a moot point. A second report cannot be lawfully required as the project is “fully entitled and doesn’t require any further discretionary approval simply because its development has been delayed,” he said.
“The project was approved after a five-year administrative process with significant community involvement and, by the way, those approvals were not challenged in court,” he added.
Dean Wallraff, an attorney who has been fighting the development for decades, said the city probably will agree. But it’s possible some elements of the grading permit could contain enough modifications to trigger a new report.
“Twenty years ago, they approved this project that has now all kinds of extra environmental effects, and it’s in this kind of sensitive area in the middle of the city, and if this goes forward now without anybody looking at it again — that doesn’t make sense,” said Wallraff, executive director of Advocates for the Environment.
The Verdugo Mountains and surrounding areas were originally home to the Chumash, Gabrielino/Tongva and Fernandeño Tataviam tribes, and some members have spoken against the project.
“We believe in protecting the last remaining open spaces of L.A. County,” said Nathan Nuñez, Gabrielino Indigenous cultural keeper. “These places are important to our people, but they’re also important to the broader community. We have to do the work that we can do now to protect these places before they get lost to development.”
He worried about the potential presence of archaeological artifacts in the area because the hills and nearby areas once served as transportation corridors, campsites and places for gathering, hunting and ceremonies for the tribe.
His father, cultural bearer Kevin Nuñez, said he understands that the situation is complicated, but hoped politicians and decision makers would “pump the brakes.”
“I think there are options, but it takes some diligence, it takes some intestinal fortitude, to step up and say hold on, we’re going to vet this well,” he said.
Kemp, of the No Canyon Hills group, said the average lot size for the planned homes is about 17,000 square feet, with some as large as 100,000 square feet. It’s an equity issue as much as it is an environmental one, she said.
“Tujunga is one of the more affordable neighborhoods in and around urban L.A., and it is more rural and it’s definitely more working class … so how can you justify putting in a gated community of luxury mansions in this area?” she said. “What is the benefit to our community?”
However, she said she does not see the group expressing NIMBYism, an anti-development stance that stands for “not in my backyard.”
“I do understand that this developer has his project approved, and he wants to proceed with his plan. I do understand that,” she said. “It just feels that we have this very slim opportunity to do better by the environment, by current community members, by plants, animals and other species, and just to ensure that this is a viable and responsible and worthy project.
“And if things need to change about it,” she added, “then we can make those changes and find a position that works for everyone.”
Hiking through the brush, Gelbart and Christian, the naturalists, said California’s climate conditions are changing so rapidly that it’s difficult for even ecological experts to keep up — much less developers. The pair recently found a massive hollyleaf cherry tree growing in the hills that they hadn’t seen before.
“The land has value beyond what humans use it for,” Gelbart said as he surveyed the view. “And once this is gone, you can never put it back together.”
If you live in Montana or surrounding states, you may have come across Mann Mortgage, a Kalispell, Montana-based mortgage lender.
They appear to be one of the main mortgage players in the Treasure State, having closed over $300 million in home loans there just last year.
The company also does quite a bit of volume in nearby states, with a big focus on home purchase financing. Let’s discover more about this small town, tech-savvy mortgage lender.
Mann Mortgage Fast Facts
Direct-to-consumer retail mortgage lender based in Kalispell, Montana
Founded in 1989 by North Dakota native Don Mann
Funded roughly $1.1 billion in home loans last year
Much of their loan volume comes from Montana and the Pacific Northwest
Currently licensed in 21 states and the District of Columbia
Offer home purchase loans, rate and term refis, and cash out refis
Mann Mortgage got its start all the way back in the late 1980s, founded by North Dakota native Don Mann.
He modeled the eponymous business after 1950s era farming co-ops, whereby resources were pooled to keep lending “personal and local.”
Today, the company boasts 500+ employees across 55 branch locations, and funded more than $1 billion in home loans in 2019.
A good chunk came from the company’s home state of Montana, along with the nearby states of Idaho, Oregon, and Washington.
At the moment, they are licensed in the following states: Alaska, Arizona, California, Colorado, District of Columbia, Hawaii, Idaho, Maryland, Minnesota, Montana, Nevada, New Mexico, North Carolina, North Dakota, Oregon, South Dakota, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.
Roughly 70% of the company’s 2019 loan volume was home purchase mortgages, with the remainder split almost evenly between rate and term refinances and cash out refis.
Getting a Home Loan with Mann Mortgage
They offer a digital mortgage solution known as SimpleApp powered by Ellie Mae
Allows borrowers to apply for a home loan from anywhere including desktop, smartphone, or tablet
Can securely upload documents or link financial accounts to quickly complete the process in less than 10 minutes
Borrowers are also able to visit a branch or get on the phone with one of their loan officers
They say you can apply for a home loan in 10 minutes or less thanks to their online mortgage application known as SimpleApp.
Once at their website, you simply click on “Apply Now,” at which point you’ll be asked to select your state.
Then you select a branch location and you’ll be sent to their digital mortgage application powered by Ellie Mae.
It allows you to input all of your information quickly and securely, compare loan options and loan rates, upload documents, link financial accounts, and save your progress as you move along.
You can opt-in to receive status updates and reach out to a loan officer at any time if you need assistance.
Their goal is to streamline the mortgage application process while also providing human support if and when you need it.
Mann Mortgage also has a loan officer directory and branch locator on their website if you’ve been referred to someone specific or prefer to get in touch with a loan officer first.
In summary, you’ve got options when it comes to applying for a mortgage, whether you’re tech savvy or not.
Loan Types Offered by Mann Mortgage
Mann Mortgage Rates
For one reason or another, Mann Mortgage does not display their mortgage rates on its website.
This is completely normal and ultimately some lenders do and some don’t. It doesn’t mean their rates are good or bad or average, it’s just that they don’t advertise them.
As such, you’ll need to either apply for a mortgage or get in touch with a Mann Mortgage loan officer to receive pricing.
I generally recommend that you get pricing before applying with a certain mortgage lender just to ensure they offer low rates and fees.
The same goes for their lender fees – there isn’t any mention of them on their website, so again you’ll need to inquire about things like a loan origination fee, underwriting and processing fees, and so on.
The good news is they seem to be very well-liked and have excellent customer satisfaction, so there’s a good chance their interest rates and fees are competitive, otherwise former customers probably wouldn’t be so positive.
But always put in the time to shop around if you want to be absolutely sure you’re getting the best deal out there.
Mann Mortgage Reviews
The company has over 14,000 reviews on SocialSurvey with a 4.89-star rating out of 5, which is beyond excellent.
Mann Mortgage also landed in the top-10 for medium-sized mortgage lenders in terms of customer satisfaction.
On Zillow, they have an even better 4.96-star rating out of 5 based on over 700 customer reviews, which often say the mortgage rate was lowered than expected.
On LendingTree, they have a 4.7-star rating out of 5 on about 60 reviews, with 92% of customers recommending them.
While they aren’t a Better Business Bureau accredited company, they do have an A+ BBB rating, which is based on complaint history (none at the time of this writing).
All in all, Mann Mortgage appears to offer a good mix of technology with a local, small business feel that hopefully isn’t too corporate or bureaucratic.
If you live in one of the states they’re licensed in, they could be a good fit for your home loan needs.
Mann Mortgage Pros and Cons
The Pros
Digital mortgage application powered by Ellie Mae
Excellent customer reviews across several ratings websites
Physical branch locations for those who prefer face-to-face consultation
Lots of loan programs to choose from
A+ BBB rating
The Cons
Not licensed in all states
Do not advertise mortgage rates or lender fees
Will likely transfer servicing rights to a different loan servicer
The Bank of England raised interest rates in June from 4.5% to 5%.
The significant 0.50 percentage point increase had been widely feared following the announcement from the Office for National Statistics that inflation had remained at 8.7% in May – more than four times the government’s target.
June’s rate rise marks the 13th since December 2021 when Bank rate stood at just 0.1%. It puts Bank rate at its highest level since 2008 and has applied further pressure on the cost of borrowing.
Volatility and uncertainty
Mortgage rates first rocketed after last September’s mini-Budget, which triggered market uncertainty and sent the pound crashing to historic lows. At the time, major lenders including NatWest, Barclays, Halifax and Virgin Money pulled deals and brought them back to market at higher prices.
While mortgages costs have undergone a correction since then, there’s been a more recent flurry of lenders putting up the cost of deals as Bank rate continues its relentless climb in the face of high inflation (more on this below).
Free Mortgage Advice
Better.co.uk is a 5-star Trustpilot rated online mortgage adviser that can help you find the right mortgage – and do all the hard work with the lender to secure it. *Your home may be repossessed if you do not keep up repayments on your mortgage.
Average and best costs of popular deals
According to our mortgage partner, Better.co.uk, the average cost* of a two-year fixed rate deal today stands at 5.69%. The average cost of a three-year deal is 5.39%, while five-year fixes now stand at 5.31%. Just yesterday, both three- and five-year deals were priced at 5.29% on average.
Many mortgage lenders had already ‘priced in’ the most recent Bank rate rise into their costs. However, lenders across the board are continuing to raise fixed rates and pull deals.
According to Better.co.uk, the most competitive two-year fixed rate today stands at 4.99%. The best three-year fix is priced at 4.93%, and the best five-year at 4.82%. The average two-year tracker rate today is at 5.43%, which compares to 4.89% for the leading deal of its kind.
Lenders’ typical standard variable rate (SVR) today stands at 7.34%, according to Better.co.uk. Average SVRs a year ago in May 2022 were just 4.53%.
On 1 June, there were 4,967 residential mortgage deals on the market, according to Moneyfacts. The number of available mortgages had plummeted to around 2,560 following last Autumn’s mini-Budget.
Interest rates and mortgages
So what does the latest June Bank rate rise mean for the cost of mortgages?
The estimated 1.4 million homeowners (according trade body, UK Finance) on variable rate deals, such as base rate trackers, will see an almost immediate rise in their monthly repayments following the latest Bank rate rise to 5%.
As an example, a tracker rate rising from 5% to 5.5% costs around an extra £58 a month on a £200,000 loan taken over 25 years, with monthly repayments rising from £1,170 to £1,228.
Borrowers on fixed-rate deals, where the interest rate is locked in for, say, two or five years, won’t see any difference in their monthly payments. However, when the deal expires – as will be the case for over 500,000 mortgage holders during the remainder of 2023 – available mortgage deals will be much more expensive.
You can work out the monthly cost of a mortgage against various interest rates with our Mortgage Calculator.
House prices and Stamp Duty
The latest major house price indices are all reporting falls in the value of UK property.
Nationwide’s house price report, published today (30 June), showed house prices fell by 3.5% in the 12 months to June, slightly steeper than the 3.4% annual drop posted in May. On a monthly basis, prices edged up 0.1% according the building society, taking average UK property prices to £262,239.
Halifax’s most recent house price report (published on 7 June) showed a fall in annual house prices for the first time since 2012. The cost of an average home in May (£286,532) was 1% lower than in May last year. On a monthly basis, prices remained flat, said Halifax.
Zoopla reported price falls of 1.3% in the six months to April, although still reports positive annual inflation of 1.9%.
Stamp Duty cuts announced in last Autumn’s mini-Budget raised the nil-rate band on the purchase of a property from £125,000 to £250,000. While u-turns were made on the other tax breaks announced under former Prime Minister Liz Truss, this one remained in place.
Why are interest rates rising?
The Bank’s MPC uses interest hikes as a means of cooling the economy and taming rising inflation.
The Consumer Prices Index (CPI) measure of inflation remained unbudged at 8.7% in the 12 months to May, the Office For National Statstics (ONS) announced today. While this is some way off its peak of 11.1% posted back in October, it should viewed in the context the government’s inflation target for the Bank of England which is just 2%.
One of the main longer-term drivers behind rising inflation is the cost of energy. Since 1 April, 2023 the energy price cap, as set by regulator Ofgem, has been pegged at £3,280. The cost refers to an annual bill for a dual fuel household paying by direct debit based on typical consumption.
However, the government’s own Energy Price Guarantee (EPG), which was implemented to protect households from rocketing energy costs, applies instead. Currently, the EPG is set at £2,500 a year.
The energy price cap will fall as of 1 July from £3,280 to £2,074. As this is below the level of the EPG, the price cap will once again apply and determine the cost of energy for households in England, Wales and Scotland until the end of September.
A new cap will then take effect from 1 October.
What mortgage deals are available?
With upwardly-mobile Bank rates, keeping track of mortgage costs is challenging – especially when rates change, and deals can be pulled, on a daily basis.
One simple way is use our mortgage tables, powered by Better.co.uk.
To find out what deals are available at today’s rates for the kind of mortgage you’re after, you’ll need to enter your personal criteria into the table below. Here’s what to do:
Select whether the mortgage is to fund a house purchase or if it’s a remortgage for an existing property
Enter the property value and the mortgage amount you require. This will automatically generate a percentage which is known as your ‘loan to value’. The lower your loan to value, the cheaper the mortgage rates available
Tick the relevant box if it’s a buy-to-let or interest-only mortgage (you’ll need a repayment strategy in place for these deals), or if you’re looking for a mortgage to fund a shared ownership property
Finally, filter your search by the type of mortgage you want, for example a two- or five-year fix or tracker. The filter is set to a complete mortgage term of 25 years but you can change this if required.
Here’s a live table of the mortgage deals available today.
What else do I need to know?
Mortgage deals offering the cheapest rates usually come with fees attached. You can opt to pay these upfront or add them to the loan. To factor in the cost of the fee, order your the results by ‘initial period cost’ (in the ‘Sorted by’ dropdown).
Alternatively, you can order results by initial rate, lowest fee or monthly repayment – even by the lender’s ‘follow on’ rate that the deal will revert to at the end of the term.
The very cheapest are reserved for bigger deposit amounts, usually of 60% of the property value or more. And, in all cases, you will need a sufficient income and clean credit history to be accepted for a mortgage.
If you want to see what your monthly mortgage payments might look like in different scenarios while overlaid with household bills, our Mortgage Calculator will crunch the numbers.
When can I start a remortgage?
Once issued, mortgage offers tend to be valid for six months, although a handful of lenders such as Skipton Building Society honour offers for up to 12 months. If you are looking to remortgage your current home, this means you can lock in a rate today – at no cost and with no strings attached.
How are average mortgage costs calculated?
*Average mortgage costs can vary between sources depending on how the data is gathered. Better.co.uk’s data refers to the average cost of the primary fixed rate mortgage recommendation that is issued to applicants based on their circumstances from its 100-plus panel of lenders.
The data counts remortgage and purchase loans but excludes SVRs, adverse credit, self-build and shared ownership. Data is collected at the end of each business day.
Better.co.uk targets applicants with a good credit history. Lower loan-to-values (under 85%) account for a significant portion of its business which can translate into cheaper loan rates.
Its average fixed rate costs may therefore appear lower than some others quoted on the market.
Building equity in a home takes time, and the amount of equity you’ve built can impact the amount you can borrow. If you need substantial funds for home improvements, education expenses or debt consolidation, Spring EQ home equity loans are an attractive option. Spring EQ reviews praise its ability to provide homeowners with access to a larger percentage of their home’s equity compared to many other lenders.
Unlike many other mortgage lenders who cap the amount of equity you can access at 85%, Spring EQ lets you borrow up to 95% of your home’s equity. We selected Spring EQ as one of the best home equity loan providers in large part because of its generous equity allowance. Its interest rates are also competitive, and its flexible terms make Spring EQ a good choice for many homeowners.
Spring EQ HELOC pros and cons
Before applying, you should consider the pros and cons of a home equity line of credit (HELOC).
Access to up to 95% of your equity
Flexible loan terms
Low minimum credit score
Not available in all states
Appraisal and title insurance required for some loans
No online payment option
Pros explained
Access to up to 95% of your equity
Spring EQ allows jmyou to access up to 95% of your home’s equity. In contrast, most lenders limit you to 85%. This 10% difference might seem small, but it can translate to a significant amount of funds when dealing with home values. With Spring EQ, you can tap into a higher percentage of your home’s worth, empowering you to accomplish more with your loan.
Flexible terms
Spring EQ provides a range of flexible terms. You can repay your loan in increments of five to 30 years, or choose up to 10 years of interest-only payments. If you’re planning to do major home improvements, you can take advantage of this flexibility to avoid taking out a home improvement loan.
Low minimum credit score
Spring EQ offers home equity loans and home equity lines of credit with various credit score requirements. You’ll only need a minimum credit score of 640 to qualify for a home equity loan. If you want to take out a HELOC, you’ll need a credit score of 680. However, to borrow up to 95% of your home’s equity with a Spring EQ home equity loan, you will need a credit score of 700 or higher.
Cons explained
Not available in all states
Spring EQ does not offer home equity products to residents in Alaska, Hawaii, Idaho, Massachusetts, Missouri, Nevada, New York, North Dakota, South Dakota, West Virginia, Wyoming or Utah.
Appraisal and title insurance required for some loans
Spring EQ’s appraisal requirements depend on several factors, including how long you’ve owned your home and the date of your last appraisal report. You may be able to use a previous appraisal if it was done within the last 12 months. However, if your loan is over $175,000, you’ll need a full interior appraisal. If your loan is over $250,000, you’ll need title insurance as well.
No online payment option
Spring EQ doesn’t give you the option to make online payments, but that may be an option soon. For now, you can make a phone payment, set up recurring payments or mail in a payment.
Spring EQ HELOC offerings
Home equity loans
Spring EQ offers fixed-interest home equity loans with repayment terms from five to 30 years. You can access up to 95% of your home’s value with a loan amount of up to $500,000 without the need to refinance. With same-day approval and an average fund availability of 21 days, you’ll have quick access to your money.
Home equity lines of credit
Spring EQ also offers a home equity line of credit (HELOC) with a variable interest rate and a term of 30 years. With a HELOC, you can make interest-only payments for the first 10 years. One downside to Spring EQ’s HELOC is that you must take an initial draw of at least $50,000, which is higher than many other lenders. Your debt-to-income ratio must be 45% or lower, and the minimum credit score is 680 to qualify for a HELOC.
Home purchase loans
Although Spring EQ is primarily known for its HELOC and home equity loans, it also offers home purchase loans. The interest rates and loan terms for a home purchase loan will depend on your profile as a borrower. If you’re self-employed, you’ll need to provide more extensive documentation of your income. You’ll have to meet the underwriting guidelines for verifying your credit profile and debt-to-income ratio.
Home refinance loans
Spring EQ also offers traditional refinance loans if you prefer to refinance instead of taking out a home equity loan or HELOC. The guidelines and terms for refinancing are similar to those for a home purchase loan.
Spring EQ HELOC pricing
Spring EQ doesn’t list its minimum interest rate, nor does it publicly disclose its fees. However, in addition to applicable administration fees, you’ll have to pay for an appraisal and title insurance if needed.
Spring EQ HELOC financial stability
Spring EQ is a Pennsylvania-based home lending company that specializes in home equity loans and home equity lines of credit (HELOCs). It was established in 2016 and is accredited by the BBB with a rating of A+. It’s in good standing with the Department of Banking and Securities in Pennsylvania with a current license.
Spring EQ HELOC accessibility
Availability
Spring EQ’s loan products are not available in the following states:
Alaska
Hawaii
Idaho
Massachusetts
Missouri
Nevada
New York
North Dakota
South Dakota
West Virginia
Wyoming
Utah
In addition to residing in one of states that Spring EQ offers services in, you’ll need to meet certain underwriting guidelines, including:
Minimum credit score of 640 for home equity loans
Minimum credit score of 680 for HELOC
Minimum credit score of 700 for 95% equity loans
Documentation of income and other information in your application
Debt-to-income ratio of 45% or less (total monthly debt payments divided by total monthly gross income)
Contact information
Spring EQ can be contacted by:
Phone: Call Spring EQ at 1-855-463-7407 or 1-888-978-9978.
Mailing address: Mail a check or send any documents to Spring EQ, ATTN: Servicing, 100 W. Matsonford Road, Building 5, Suite 100, Radnor, Pennsylvania 19087.
Corporate address: Send corporate mail to 1 West Elm St., Suite 450, Conshohocken, Pennsylvania 19428.
User experience
Spring EQ offers preapproval based on your online application almost instantly, although your terms will depend on verification of the provided information. Submit an application on the website, or get in touch with a loan officer by calling 1-877-972-8873.
To apply for a loan, you’ll need to provide the following information:
Date of birth
Phone number
How much you want to borrow
Details of your financial history, including income, debts and past history of bankruptcies or defaults
Details about co-borrowers
Information about the property, including whether it’s your primary residence, how much you owe on it and if there are any liens on it
Once you’ve submitted this information, you’ll get prequalified for a loan amount. This is a preliminary step and isn’t binding until you submit the formal application and your information is verified. You can finish applying online or ask to be connected with a loan officer. After you submit a formal application, you’ll be asked to submit verifying documentation. You’ll generally have your funds available within 21 business days.
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Spring EQ HELOC customer satisfaction
Spring EQ reviews reveal an average customer satisfaction rating of 4.3 with the Better Business Bureau (BBB), indicating that most customers are satisfied with its service. Of its 193 customer reviews, only 42 are complaints, and 26 complaints have been closed in the past 12 months. Spring EQ responds promptly to customer reviews and provides a contact person to assist with complaints.
One customer complained that the lending guidelines changed during their application process, making them ineligible for a loan. Another complained that they received more of a draw on their HELOC than requested. Yet another complained the rate and payment were higher than expected. Given that Spring EQ responds promptly to all complaints and that many of the complaints were ultimately closed, it has an A+ rating with the BBB.
Some of the negative Spring EQ reviews mention that representatives didn’t communicate well, gave them a loan amount that was less than expected or took too long to approve their loan. However, most of the reviews are positive, with praise for the professional loan officers and the easy, convenient process.
Spring EQ HELOC FAQ
Is Spring EQ legit?
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Spring EQ is a legitimate loan originator. They’ve been in business for seven years, have an A+ rating from the Better Business Bureau and have an up-to-date license with the Department of Banking and Securities in Pennsylvania.
Who owns Spring EQ?
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Spring EQ is a privately owned company. It’s a limited liability corporation (LLC) based in Pennsylvania. While it’s not always possible to find out who owns an LLC, one of the investors is Saluda Grade Ventures. Jerry Schiano is a co-founder and chief executive officer, and James Curt is the senior vice president.
What is Spring EQ?
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Spring EQ is a loan originator, so it facilitates the process of acquiring a loan. Loan originators are involved in the initial stages of the loan process, and their responsibilities include:
Evaluating the borrower’s credit history, income, debts and other financial information to determine their ability to repay the loan
Informing the borrower of the various loan options available, including interest rates, loan terms and other conditions
Assisting the borrower in completing the loan application and gathering all the necessary documentation
Coordinating with underwriters, appraisers and other professionals to process the loan application (including verifying the information provided by the borrower and assessing the property value if the loan is secured by real estate)
Acting as the main point of contact for the borrower, keeping them informed on the status of the loan application and answering any questions they may have.
Coordinating the closing process, ensuring that all documents are in order and that the funds are disbursed to the borrower or the seller in case of a mortgage.
How long does Spring EQ take to underwrite?
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From approval to disbursement of funds, the entire process takes 21 days on average. However, the exact amount of time it takes will depend on various factors such as how quickly you provide documentation and if you need an appraisal or title insurance.
How we evaluated Spring EQ HELOC
To review Spring EQ, we considered the following criteria:
Pros and cons: We assessed the overall pros and cons of Spring EQ, including the features it offers and how it compares to other home equity loan originators.
Pricing: We evaluated how transparent Spring EQ is regarding interest rates, initiation and service fees, closing costs and additional costs such as appraisals.
Offerings: We examined the types of loans offered, the flexibility in terms, the minimum and maximum loan amounts and the borrowable amount of home equity.
Customer experience and satisfaction: We looked into complaints and reviews filed with the Better Business Bureau to evaluate how happy customers were with Spring EQ.
Accessibility: We checked the eligibility requirements, the application process, the minimum required credit score, what states Spring EQ services and how easy it is to contact them.
Summary of Money’s Spring EQ HELOC review
Spring EQ is a great option to access more of your home’s equity than you can with traditional lenders. They make the preapproval and application process convenient and quick. However, coverage is currently limited, so you must own property in one of the states they service. Additionally, they could be more transparent about both interest rates and fees associated with home equity loans and lines of credit.
This week, we interviewed Aaron Letzeiser from Obie.
Without further ado…
Who are you and what do you do?
My name is Aaron Letzeiser and I’m the Co-Founder and COO of Obie. Obie is an insurance and risk management platform for landlords.
What problem does your product/service solve?
Obie brings a fast, transparent, and consultative approach to the insurance process for investment properties. Insurance is one of a landlord’s largest expenses, but also the one they have the least amount of control and insight into. It’s been a black hole for far too long and when saving money means higher NOI and property value, it’s important to know you have market best pricing that didn’t take weeks or months to find and procure.
What are you most excited about right now?
I love seeing the collaboration between real estate tech platforms. Successful adoption of new and innovative solutions happens in the real estate space when a company recognizes a singular problem and attacks it head on. It makes it easy for clients to realize the ROI and it’s not super complicated to adopt the product and make the change. The magic happens when synergistic platforms start to collaborate and roll out additional complementary features to their clients. A leasing platform can syndicate out to a new marketplace. A property management platform can offer insurance. A brokerage management platform can sync with digital accounting and commission tracking. All of this helps to move the industry forward.
What’s next for you?
Instant insurance quotes. Home and auto insurance are easy to shop for from your couch. 3-5 minutes, 7-10 questions, and you’re done. We’re bringing that to the real estate investment space with the first instant insurance offerings.
What’s a cause you’re passionate about and why?
The intersection of technology and affordable housing, and the way that tech can play a role in new housing development strategies, streamlining the tenant experience and obligations, and cutting costs for landlords. When all three work together, there are ways to provide housing that’s affordable while also making a healthy return.
Thanks to Aaron for sharing his story. If you’d like to connect, find him on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop us a line (Community @ geekestate dot com).
Looking for tips on running a real estate team? If so, you won’t want to miss today’s podcast with Francie Malina. Just last year, Francie’s award-winning team sold the most homes in their county. That’s an impressive accomplishment for any team leader, but what’s more impressive is the fact that she’s never lost an agent. Listen and learn how to empower your team so that you and your agents can take on the competition together for years to come!
Listen to today’s show and learn:
About Francie Malina [3:44]
About the Westchester real estate market [4:58]
The inverse relationship between purchase price and taxes [7:54]
The benefits of buying over renting [9:11]
Francie’s philosophy on agent accountability [10:09]
Francie’s client-contact challenge [12:35]
A handy app for busy real estate agents: Slydial [14:05]
Why calling clients often isn’t the best option [16:54]
Tips on running a real estate team [19:20]
How running a real estate team can help improve your work-life balance [24:44]
Sage advice for real estate rookies [26:17]
The right time to start a real estate team [27:16]
Identifying the right agents when hiring for your team [28:46]
Opinions on where the real estate market is headed [31:30]
Why real estate isn’t just about the numbers [35:50]
Tips for staying top of mind and authentic [37:43]
Francie’s free download for listeners [42:19]
Where to find and follow Francie Malina [44:31]
Francie Malina
Francie Malina is more than an award-winning, top-producing agent, she’s a powerful force in the Westchester market and a highly sought-after industry thought leader.
As the No. 1 agent in the Rivertowns and consistently ranked among the top 5 in all of Westchester County, Francie brings unparalleled energy, knowledge, commitment and professionalism to everything she does. Her list of awards is impressive, but as her numerous, glowing client testimonials make clear, her reputation for honesty and integrity is far more important. As the leader of The Francie Malina Team, she insists on making client satisfaction the group’s highest priority and espouses a simple but compelling philosophy — professional, hassle-free service with a smile. Francie provides every buyer and seller with the same exceptional attention and loyalty that she expects when hiring a professional.
Francie is also a formidable industry presence and dynamic presenter with a nationwide reputation for her expertise and insights. Through her involvement as a Women of Compass Westchester Leader, Co-Founder of the Women of Compass Clubhouse and a Founding Member of Realm Global, a worldwide luxury real estate think tank, Francie keeps her finger on the pulse of issues affecting the market.
A successful Westchester realtor since 2010 and an active resident of the Rivertowns for over 28 years, Francie’s comprehensive knowledge of the market and all things Westchester gives her clients a tremendous advantage. Moreover, the financial savvy she gained through years at the Federal Reserve Bank of New York makes her a uniquely qualified partner and collaborator for buyers and sellers throughout the Rivertowns of Hastings, Dobbs Ferry, Irvington, Tarrytown, Sleepy Hollow and Ardsley.
Originally from Connecticut, Francie earned a bachelor’s degree in managerial economics from Union College and attended the NYU Stern School of Business. Married with two children, she transitioned from New York City to the Rivertowns in 1992 and has immersed herself in community life ever since. In her free time, Francie enjoys skiing, hiking and spending quality time with her family.
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Thank You Rockstars!
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email. -Aaron Amuchastegui