Did Michael Strauss, accused of fraud, just start a new mortgage company?
After abruptly shutting down Sprout Mortgage and being accused of fraud, Strauss and his wife are linked to a new mortgage entity, Smart Rate Mortgage, LLC.
After abruptly shutting down Sprout Mortgage and being accused of fraud, Strauss and his wife are linked to a new mortgage entity, Smart Rate Mortgage, LLC.
The last two weeks have been crazy in the mortgage world. In early March, the industry celebrated as mortgage rates hit record lows. Per Freddie Macâs weekly survey, the 30-year fixed fell to 3.29%, its lowest point since tracking began in 1971. It narrowly beat out the record low of 3.31% set in late 2012,… Read More »Now More Than Ever You Need to Compare Mortgage Rates
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Did Michael Strauss, accused of fraud, just start a new mortgage … HousingWire
As we bid farewell to 2022 (like peace the heck out!) and gear up for 2023, the key to success will be enduring the next 100 days.
A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, âAbout half an hour.â Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medicare costs. A major study concluded that older people are easier to catch, offer less resistance, and, more importantly, will not remember how to get back home. In actual news, lenders who own servicing continue to peel it off because it either doesnât fit their portfolio, or they need the cash. The owners of lenders continue to examine various business strategies as we start 2023, with some thinking that it doesnât make sense to remain the size they are. There was a lot of mergers and acquisition activity last year, big and small. I am told by my M&A friends at STRATMOR (Garth & David) that 2023 is lining up for even more. (Both will be in San Diego at the IMB Conference if you want to confidentially meet up.) This weekâs podcast is sponsored by Candor. Candorâs patented automated underwriting decision engine, CogniTechâ¢, is a state-of-the-art, 100% machine platform that can handle infinite loan scenarios. Todayâs has Part Two of an interview with Tom Booker and Tom Showalter on how every underwrite is an anomaly.
Mortgage Q&A: âWhat mortgage rate can I expect?â The thing with mortgage rates is that they can vary greatly depending on a number of market forces and borrower-specific factors. That’s why it’s impossible to just throw a random interest rate out there such as 2.99% or 3.99%. Sure, a handful of borrowers may qualify for… Read More »What Mortgage Rate Can I Expect? Answer These Questions First
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These hopes for a declining rate have many loan officers feeling optimistic about 2023âs business prospects after experiencing lower volumes last year. But as we enter the first quarter of the year, LOs need to balance their hopes with on-the-ground action to prepare for whatever does lie ahead.
National Mortgage News is pleased to announce the launch of the 2023 Top Producers Survey. IMPORTANT: All entries MUST be completed by the individual loan officer. Any entry found not to be completed by the individual named will be disqualified. Unless noted, a response is required for all questions. Click here to access the online … [Read more…]
Mortgage Q&A: âWhat is a lender credit?â If you’ve recently been shopping mortgage rates, whether for a new home purchase or a mortgage refinance, you’ve likely come across the term âlender credit.â Let’s learn more about what it is, how it works, and why it can save you money, or conversely, cost you money via… Read More »Lender Credits: The Opposite of Paying Points on Your Mortgage
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