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At Home CEO Lee Bird will retire effective Dec. 31, the company said Wednesday.

Bird, 58, has been at the company for 11 years and transformed it from a tired Houston-based brand called Garden Ridge into a fast-growing home superstore concept. He moved the headquarters to Plano and rebranded it At Home. A year ago the company moved into a new headquarters in Dallas.

The departure is a surprise and most expected Bird to at some point lead the company out of private equity ownership with an initial public offering. At Home was taken private after a proxy challenge in July 2021 by Hellman & Friedman in a deal valued at $2.8 billion.

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At the time, Bird had said he believed At Home could more than double its store count to more than 600 locations and that it could do so faster as a private company.

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The latest on retail openings, closings and trends in D-FW.

A CEO search is on, the company said in a statement.

In the meantime, an office of the CEO has been formed to run the business with Jeff Evans, president and chief merchandising officer; Jerry Murray, chief financial officer; and Ashley Sheetz, chief operating officer.

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Erik Ragatz, At Home’s lead director, will be the executive chairman. Ragatz was formerly a partner at Hellman & Friedman where he worked for more than 20 years and is listed as a senior adviser on H&F’s website.

“On behalf of the company, I want to thank Lee for his tremendous leadership of At Home over the last decade,” Ragatz said. “Lee helped build At Home into one of the great retailers across industries. As a leader and mentor, Lee has had a profound impact on At Home’s thousands of employees and will remain an important member of the At Home family for years to come.”

At Home CEO Lee Bird in the At Home store in Timber Creek Crossing shopping center last year. At Home took over a building left vacant by JCPenney. (Juan Figueroa / Staff Photographer)
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Bird joined the company as CEO in December 2012 after executive positions at Gap, Old Navy and Nike. He led At Home from a chain of 58 stores and $364 million in revenue to 268 stores with almost $2 billion in annual sales. It went private after a successful period during the pandemic when Americans were sprucing up their homes. Sales increased 27.4% in 2020 to $1.74 billion.

Bird wasn’t available for an interview.

At Home’s sales topped $2 billion last year. Here’s why Dallas shoppers are just discovering it

“Helping At Home become one of the nation’s top home decor retailers is one of the great honors of my career,” Bird said in a press release. He thanked staff who contributed to the company’s achievements.

“Together, we have created a valuable, differentiated business with even more room for growth, and I’m confident in this team’s ability to continue to build on At Home’s track record of success,” Bird said.

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Source: dallasnews.com

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Phone interview questions often cover a lot of ground, from your professional motivations to your preferred style of being managed. Phone interviews also typically include several behavioral questions, too, in which you’re asked to recount specific experiences from your previous jobs.

They can seem intimidating, but phone interview questions are a lot less scary when you’ve rehearsed your answers and prepared stories that demonstrate your strength as a candidate.

Below, you’ll find 20 questions commonly asked during phone interviews, as well as advice on how to best answer them.

Phone interview questions

In preparing for your phone interview, set aside a few hours to reflect on how you’d answer each question. Write or type out your answers, then practice answering each question out loud.

Focus on speaking slowly and clearly, and run through your answers several times — that’ll help you eliminate filler words and speak comfortably when you’re talking to the interviewer.

When you’re on the phone interview, smile while speaking, recommends Robert Half, a human resources consulting firm. Even though the interviewer can’t see you, you’ll sound more enthusiastic and confident.

You can also keep a cheat sheet with key dates, sales figures or other information you want to easily access. Don’t overly rely on them, though, and be prepared to complete the interview without having to visit your notes.

Question about the company or position

1. What are your qualifications for this position?

If you’re asked this question, talk about your hard skills or competencies learned through training or education, says Heather Livingston, a career advisor at University of Phoenix.

Bring up any specific qualifications you have that were in the job description. Such qualifications might include knowledge of a specific software, coding language or experience working with a certain type of customer.

Be sure to mention any professional certificates or licenses relevant to the position, too, Livingston says. You can also mention any college courses or professional training you’ve completed that relate to the role.

2. Why do you want to work for us?

To effectively answer this question, you’ll need to research the company, Livingston says. Familiarize yourself with its history, mission statement, purpose and leadership.

Mention explicit parts of the company’s mission that you agree with, and how helping the company achieve that mission aligns with your overall career goals.

3. What do you know about the company?

Similar to the question above, you’ll need to research the company to answer this question. Spend some time on the company’s website and read the “About Us” page. You can also visit the company’s LinkedIn page and see if it’s recently been in the news.

You don’t need to memorize every part of the company’s history, but make sure you’re aware of any major events — such as mergers, acquisitions or product launches — and can speak confidently about the company’s main product or service.

4. What do you see as the biggest challenge coming into this role?

It can be tough to answer questions that require you to admit your vulnerabilities. But employers know that even the best employees inevitably struggle with one or more aspects of any job.

“The key is to be honest,” Livingston says.

There’s a fine line between being honest and undermining yourself as a candidate, though. Avoid mentioning challenges that relate to critical components of the job.

For example, if you struggle with time management, and the job requires you to manage multiple deadlines, sharing that struggle might give the hiring manager pause. Similarly, sharing that you aren’t detail oriented might not be a great idea if you’re interviewing for a data-focused role.

On that note: If several key parts of the job sound like significant challenges, do some soul searching and think about whether the job is a good fit for your skillset.

Also, offer solutions to any potential challenges you foresee, Livingston says. If you tell the interviewer you might find a particular software challenging, for example, share your plan for overcoming that challenge.

5. Why should we hire you?

This can be a tricky question to answer; you want to sell yourself, but don’t want to appear cocky or entitled. Write and practice an elevator pitch for yourself as a candidate, Jennifer Preston, an HR consultant, told U.S. News and World Report.

Highlight your work experience that most closely aligns with the role and your strongest skills related to the job. Talk about the job objectives you’re most excited to accomplish, and tell the interviewer how you’d achieve those goals.

You can also mention the little things that distinguish you from other candidates, too — whether that’s your passion for building relationships or your long-term career goals that make you a good fit for the company.

Behavioral questions

6. Tell me about a tough decision you’ve had to make in the past.

Behavioral questions are designed to predict a candidate’s future job performance, according to the Journal of Business Research. So, for this and the remaining behavioral questions, answer with a workplace anecdote that illustrates how you behave in certain situations.

Think about difficult decisions you’ve made on the job. Have you ever been asked to mislead a customer? Has a manager ever acted inappropriately, leaving you to decide whether to report them? Share a story that shows your integrity, work ethic or another quality that makes you a desirable employee.

7. Tell me about a time you failed.

This question isn’t meant to highlight your failures or mistakes. Instead, it’s a chance for the interviewer to see whether you learn from your mistakes, Livingston says.

“Failure is how we learn. And good employers, good bosses and good managers know this,” Livingston says. “Nobody’s perfect.”

Don’t be the candidate whose biggest failure is that they care too much. Be honest and candid, and talk about a genuine error you made on the job.

Avoid dwelling on the mistake itself — or the panic and consequences that followed — and instead emphasize the insights you gained, and how you grew from the experience, per the Harvard Business Review.

8. Tell me about a time you didn’t get along with a coworker or colleague.

The interviewer knows that nobody gets along with every person they encounter. They’re trying to see if you’re able to work with people you don’t particularly like, Livington says.

Don’t spend too much time explaining why you disliked a particular colleague. Focus on how you were able to put your differences aside and accomplish the task at hand.

9. Tell me about a time you had to work under pressure or stress.

Can you handle the heat, or do you collapse under pressure? That’s what the interviewer is trying to determine.

Talk about a time when you worked under tight deadlines or external stress. Specifically list the ways you handled that stress, whether it was by staying organized, building small mental health breaks into your day or eating well and getting plenty of sleep during busy weeks.

10. Tell me about a time when you took initiative.

Finally, an opportunity for a positive story! Share an instance in which you proactively completed a task or contributed to a project — ideally, without being instructed by your manager — that benefited your employer or made things easier for your team.

Work style questions

11. Do you prefer working on a team or alone?

There’s no right or wrong answer to this question. But given that most jobs involve some form of collaboration, your answer should make it clear that you’re able to work on teams, according to the Harvard Business Review.

You can also list the instances in which you prefer working alone or collaboratively, recommends the Harvard Business Review. For example, you could say that you love brainstorming ideas and developing sales pitches with your colleagues, but enjoy the freedom to work independently when on a deadline or during certain chunks of the day.

12. How do you manage stress to avoid burnout?

The interviewer isn’t looking for a specific method of stress management; they’re just making sure you know how to handle stress and won’t crumble under tight deadlines.

Share a work experience that illustrates how you effectively manage stress, recommends the Harvard Business Review. Feel free to get specific: If you utilize tools like meditation, journaling or morning runs to manage day-to-day stresses, say that.

13. How would people you’ve worked with describe you?

To effectively answer this question, first consider the qualities that might make someone successful in the role you’re interviewing for.

If the job requires a lot of collaboration, for example, say that your coworkers would describe you as communicative, accountable and a team player. If the job involves number-crunching, you could say that your colleagues would call you detail-oriented and conscientious. Think of past experiences you can mention that illustrate those qualities in action.

You can also use this question to highlight a few of your unique characteristics that aren’t directly tied to the role. Knowing that your coworkers would describe you as personable or funny, for example, can paint a more well-rounded picture of you as an employee.

14. What kind of management style works well for you?

Like many of these questions, you’ll want to answer honestly while keeping things relatively broad. Make it clear that you can work effectively under any manager, according to multiple career experts.

For example, instead of saying, “I prefer to work under managers with a hands-off leadership style, and can’t work well if my boss is always looking over my shoulder,” you could say, “While I prefer a hands-off managerial style, I’ve worked well with plenty of supervisors who prefer frequent check-ins and close collaboration.”

15. What are you passionate about? What motivates you?

Are you externally motivated by rewards, growth opportunities or bonuses? Or are you intrinsically motivated by doing work you believe in? Reflect on what motivates you in the workplace and honestly answer the question. You want your employer to understand what motivates you, according to BetterUp, a behavioral career coaching company.

To kickstart your reflecting, here are some potential motivators:

  • Promotions and leadership opportunities.

  • Contributing to a team.

  • Solving problems for customers and clients.

  • Learning new things.

  • Developing certain professional skills.

  • Making a difference.

“You can be passionate about things in your personal life, but whatever this answer is should show relevance to how it will enhance your success at this position in this company,” Livingston says.

16. What is your experience with remote work?

This question may not be relevant to you, depending on the job you’re interviewing for. But if you’re interviewing for a remote role, the employer may want to know if you can effectively manage your time and responsibilities.

Describe your experience with remote work — or lack of experience, if you’ve never worked from home — and make it clear that you can perform the job’s functions without reporting to an office or workplace.

Logistical questions

17. Are you currently employed, and why are you thinking about leaving your current job (or why did you leave your previous job)?

This can feel like a tricky question to answer. The key is to answer honestly without getting into too much detail. Saying that you’re looking for a job that better aligns with your goals, values and growth plans is typically a safe bet, Livingston says. Be prepared to talk about those goals and values, as the interviewer may ask follow-up questions about them.

Don’t badmouth anyone from your previous employer, though. It’s an unprofessional look. If you quit your job (or are planning to leave) because you don’t get along with your manager or another coworker, keep things broad, Livingston says.

“Say something very general to the effect of having different values and different goals,” Livingston says. “That way, you’re not saying something bad about the previous employer or manager. You never want to do that.”

18. Are you interviewing with other companies?

Most candidates in the job market are applying for and interviewing with multiple companies. If you’re interviewing with other companies, you should feel comfortable sharing that, Livingston says. You don’t need to mention which companies or roles you’re interviewing for, though.

Also, be sure to emphasize your excitement for the role you’re discussing with the interviewer. You can say something like, “At this time, I am interviewing for other positions, but this is the role that best aligns with my interests and career goals.”

19. What salary range are you looking for?

There are a few ways you can answer this question.

First, you can provide an ideal salary range. To avoid giving a range that’s unrealistically high (or lower than you could get), research salaries for similar positions in your industry and city. Then, provide a salary range with around $10,000 of wiggle room, Livingston says. If your ideal salary is $75,000, tell the interviewer you’re looking for compensation between $75,000 and $85,000.

If you’d like to buy some time before sharing an ideal salary, another option is telling the interviewer that you’d like more information on the role, according to U.S. News & World Report.

You could say something like this: “Until I learn more about the job and its responsibilities, I’d rather not decide on a fair salary range. Could we discuss compensation at a later date, perhaps after I’ve spoken with other members of the team?”

When you do share an ideal salary range, ask for more money than you’re currently making. Changing jobs is often an effective way to significantly increase your salary.

Half of the American workers who switched jobs between April 2021 and March 2022 saw their wages increase 9.7%, according to a July 2022 Pew Research Center report. Meanwhile, the median worker who stayed in their job over that same period saw their wages fall 1.7%.

20. When can you start working?

Ideally, you want to give your interviewer a firm date. But if you’d have to submit a two weeks’ notice at your current job, simply tell the interviewer that.

Say that, out of respect for your employer, you’d like to help transition your responsibilities and complete any outstanding tasks before your departure. In most cases, the new employer will be fine with figuring out a start date later in the interview process.

Source: nerdwallet.com

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I’m excited to announce GEM Diamond’s newest Biz Intel series: Real Estate Data Intelligence.

Our goal is to summarize the top of the funnel for any data needs. Which companies offer various datasets, what format are they offered in, are they able to re-license their data, and even estimated costs in some cases.

Here’s the list of parts we have outlined so far:

  • Intro (Part I)
  • Property Data (Part II): Originating from more than 3,000 county recorder and assessor offices, property facts (beds, baths, square footage, etc) and tax assessed values, sales dates and prices.
  • MLS Data (Part III): Active listings, sales prices, and status changes. As well as agent and broker rosters. Controlled by more than 500 MLSs.
  • Local Data (Part IV): At the city, neighborhood, or ZIP code level, this includes data points such as median sale price, rental estimates, appreciation rates, school ratings, and crime statistics. Plus datasets such as neighborhood boundaries.
  • People Data (Part V): Owner contact details, mortgage information, and demographics.
  • Multi-family And CRE Data (Part V): Comps and multi-family rent rolls, plus revenue performance data to benchmark against.
  • Trend Data (Part VI): The lines, trends and forecasts of home values/sales, rents, population shifts, and office occupancy rates.

What data is missing? If you’re a data provider that services one of these categories, would love to hear from you…

GEM Diamond announcement. For non-members, more info in the latest Weekly Radar.

Source: geekestateblog.com

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Moms and dads love when their kids give them something with which they’ve put a lot of thought and effort. Whether you’re a parent, grandparent, teacher or friend, you’d be lucky to receive one of these DIY Christmas gifts from kids.

1. Framed family names crossword

Photo courtesy of diys.com

Instead of a normal family tree, you could have a family crossword! Made with Scrabble tiles and a picture frame, this personalized piece of work makes a house feel like a home.

Just glue Scrabble letters onto a board (cardboard works fine) covered in your choice of paper and frame it. Even if your family is still growing, it’s easy to keep adding onto the crossword of names.

2. Painted wooden cooking spoons

Photo courtesy of todaysparent.com

Every time you cook or bake and use one of these wooden spoons, you’ll think of the love that your kids put into making them for you. What’s better than a daily reminder that someone loves you? All you need is acrylic paint and wooden utensils to make these cute one-of-a-kind gifts.

3. Keyboard art

Photo courtesy of paperplateandplane.wordpress.com

It’s easy to get caught up in things and even get down on yourself as a parent. By having a short message in your room or office, you can always remember that your kids are on your side.

The best part is that these messages can be anything – “My mom is the nicest mom in the world,” “You’re the best dad ever,” or even a simple “I love you.”

4. Printed dish towels

Photo courtesy of toddlerapproved.com

Any time you dry your hands or wipe up a spill, you’ll use a colorful custom-designed hand towel that resembles your kids. These are quick to make and way better than store-bought designs.

5. Clay bowl

Photo courtesy of frogandsnailsandpuppydogtail.com

You’ll find a place for these anywhere at home or at work — holding bobby pins, paper clips, jewelry, etc. Your kids will be satisfied knowing you’re not only looking at their handiwork, but you’re using it each day.

6. Fingerprint magnets

Photo courtesy of rhythmsofplay.com

Replace the boring black magnets on your refrigerator with vibrant ones that feature the fingerprints of the kids. Parents can use these to display their children’s work from school or even art they create at home.

7. Dyed coasters

Photo courtesy of onelittleproject.com

Display these mini works of art on your coffee table for everyone to see. They’re a great conversation starter and everyone will love that your kids made them just for you.

They’re easy to create and aren’t meant to look perfect, so even the smallest children can make them without much trouble.

8. Custom wood letter

Photo courtesy of Jo-Lynne Shane

Add a new addition to your office or home decor that reminds you how much your kids love you. The best part is that there are so many options. You can write a note on them or decorate the letter with your parent’s favorite things. All you need is the letter of your choice and decorating material and you’ve got a great Christmas gift for parents.

9. Handprint key chains

Photo courtesy of grey house harbor

Replace the old key chain that you’ve had forever with this heartfelt handprint key chain. Although it’s simple to make, it’s super meaningful and fun. All you need is Shrinky Dink paper, some paint and you’re all set.

While you can’t stop time from moving forward, you can look back and think of your small child every time you use these handprint key chains. Each time you go to open your door, you’ll look down and see a tiny hand full of love.

10. Smiley plants

Photo courtesy of Parents.com

Everyone loves succulents and plants as decorations. While you could buy them at the local garden store in terra cotta pots, it’s a lot cuter and more memorable if you gift tiny succulents in hand-designed pots. You can use any kind of pot or even an empty egg carton.

All you need to do is get some paint and let the children decorate away. Once they’ve designed the pot, work together to plant succulents, and voila, you’ve got yourself a great DIY gift idea for kids. The best part about these plants is that their pots are designed uniquely for you.

11. Spa jar

Photo courtesy of Parents.com

This spa jar is a great gift that’ll remind you how much your kids appreciate everything you do, even at the end of an extremely long day. It also reminds you that every once in a while, you need to take some time to care for yourself.

Maybe have a girls night and do masks, pedicures and manicures together. You just need to get their favorite things and put them together in a mason jar, and you have a thoughtful, relaxing gift.

12. Nail polish marbled coffee mugs

Photo courtesy of DIY Candy

At one point, you may have had a beautiful matching set of china dishes you registered for when you got married. However, as your family grows your matching dishes may diminish and become replaced with DIY mugs. But, that’s OK!

Not only are these mugs adorable, but they’re also really fun and easy to make. With a couple of steps, you can have a great mug that everyone will be asking you where you got it, making it all the more special when you tell them your kids made it for you.

13. Flower art

Photo courtesy of Better Homes & Gardens

What parent doesn’t love getting fresh flowers as a gift? The only downside is they don’t last forever. Well worry no more, with this pressed flower art you never have to worry about that again. Each time you see these hand-pressed flowers that your child picked and flattened, you’ll smile.

14. Potpourri

Photo courtesy of Tidbits

Everyone loves a house that smells good. Candles can do the trick, but can also be a safety hazard. So, you can make your house smell delicious year-round with some homemade potpourri.

Pick your parents’ favorite smells and design a custom blend just for them. Not only is it a fun activity, but it’s useful and everyone will enjoy the gift for weeks to come!

DIY Christmas gifts for parents

Getting a beautifully wrapped, expensive gift for the holidays is always nice, but it’s the heartfelt, DIY projects that you’ll remember forever. These DIY gifts for kids are all easy-to-make, fun for the kids and memorable for you for years to come.

Ashley Singleton is a writer who loves following and writing about current lifestyle, DIY and home improvement trends. You can read some of her other work on the Lady Spike Media website. In her spare time, she performs stand-up comedy in Los Angeles.

Source: rent.com

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I’m obsessed with a TV show called “Japan Railway Journal.” It’s a half-hour English-language show dedicated to new trains and rail lines opening throughout Japan.

Sounds pretty niche, right? Yet snippets of the show are posted to NHK World-Japan’s YouTube channel, which has over 2.5 million subscribers.

What’s striking about the show, beyond the popularity of cute, pink rail cars, is how much pride the locals take in their railways. Being into trains is a thing in Japan.

Contrast that with the U.S., where not only do we lack a single Hello Kitty-themed train line, but also many of us forget about railways when considering travel options. I’ve been writing about travel for over five years now and have written about rail travel — let me check my notes — zero times.

Jokes aside, this nationwide disinterest in trains could have major consequences as we try to reduce the climate impact of transportation. Air travel contributes 11% of total transportation-related emissions in the U.S., according to a White House fact sheet from September 2021, with the trend only going higher. Yet, there’s currently no clear path to making aviation sustainable.

Contrast that with rail travel, which is one of the least carbon-intensive means of travel, according to a December 2022 report from the Congressional Budget Office.

That means we either have to invent a new transportation modality that burns less carbon, or go back to one invented during the Industrial Revolution: railways.

But boosting train ridership isn’t going to be easy.

How many billions?

There is at least one notable U.S. resident who’s a total rail geek: “Amtrak Joe” Biden, who famously commuted between Delaware and Washington, D.C., by train for years.

Biden recently pushed through billions of dollars in funding for Amtrak as part of a larger infrastructure spending effort. That might sound like a big deal for train travel in this country, until you dig into the details.

The spending only affects the Northeast Corridor train line (yes, a single line). A full $3.8 billion is being spent to rehabilitate a tunnel connecting New York to New Jersey. And not a single Pokemon-themed car is included in the enormous spending package.

Basically, this money is being spent to keep the lights on, rather than to make huge improvements that will improve ridership and — by extension — sustainability.

If the federal government spending billions of dollars on railway infrastructure without having much to show for it sounds familiar, you might remember the Obama administration’s efforts to expand high-speed rail. Over a decade later, the U.S. still lacks a single high-speed line (Amtrak’s Acela doesn’t go fast enough to be considered true “high speed”).

Optimists will point to the many high-speed projects under construction or consideration as evidence that rail travel has a future in the U.S. But history seems to indicate that it will take more than a few measly billion dollars to kick America’s flying habit.

One step forward

Technology is changing and improving our lives at a dizzying rate. Chatbots are almost human. Cars are quickly electrifying. Yet technology hasn’t improved long-distance travel much in recent decades. In fact, it may be regressing. According to a recent article in the New York Times, nearly every aspect of traveling — from flying to driving — actually takes longer now than it did in the 1970s.

Meanwhile, the travel industry faces an enormous climate dilemma. Commercial aviation emits, on its own, as much carbon dioxide as a large industrial nation on a yearly basis. We can’t keep flying this much without burning way more fossil fuels. Something has to give.

Train travel is hardly cutting-edge technology. When the first commercial steam locomotive was introduced, James Madison was president and the U.S. was at war with Britain. Yet it may be one of our best bets for making travel more sustainable.

But the odds are long. Billions of dollars have already been poured into the country’s rail infrastructure, with billions more on the way. Yet no significant changes to where or how quickly we can travel by train are set to come over the horizon.

And we still don’t have a single cute pink train.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:

Source: nerdwallet.com

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Super Jumbo, HELOC, DSCR, CRM Texting, Servicing Rights, QC Products; Fannie/Freddie Updates

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Super Jumbo, HELOC, DSCR, CRM Texting, Servicing Rights, QC Products; Fannie/Freddie Updates

By:
Rob Chrisman

Tue, Dec 12 2023, 10:14 AM

Today I head to Northern California, home of plenty of technology. The other day I went to the doctor and the receptionist handed me a tablet and said, “Please fill out these medical forms on the screen, which are identical to the ones you filled out earlier online, and have the exact same questions your doctor will ask you later in the exam room.” Great. There’s nothing like old-fashioned printed things. I am sure that menu Quick Response (QR) codes are fine, but plenty of other QR codes are not: beware! “The Federal Trade Commission (FTC) warned the public against scanning any old QR code in a consumer alerts blog last week. Naturally, the warning comes down to security and privacy: bad actors can put QR codes in inconspicuous places or send them via text or email, then just sit back and wait for a payday in the form of money, logins, or other sensitive information. Lord knows that the mortgage industry has enough challenges from lousy characters without more of it coming our way! (Today’s podcast can be found here, and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades. Today’s has an interview with Clear Capital’s Kenon Chen putting a bow on the real estate market in 2023 and why 2024 brings reasons for optimism.)

Lender and Broker Products, Programs, and Services

Are you missing out on originating more government-backed loans? A whopping 44 percent of purchase loans for 1–4-unit properties in the top 10 MSAs in the United States would be potentially eligible for down payment assistance. That’s according to a newly released Urban Institute (UI) study. UI partnered with Down Payment Resource (DPR) to analyze 2022 HMDA data and DPA data from the 10 largest MSAs. Among the findings, the report says that across channels, FHA and USDA loans are most likely to be eligible at 80 and 82 percent, respectively and that FHA and USDA loans are generally eligible for a greater number of programs than conventional or VA loans. For more insight into how DPA programs could help you fund more government-insured mortgages, schedule a demo with the DPR team.

TENA Companies, Inc. is your partner for achieving Mortgage Quality Control excellence in 2024 and beyond! In today’s challenging market, Quality Control remains paramount. Protecting the integrity of your firm’s portfolio, maintaining compliance, and reducing risk is critical in the current lending environment. TENA’s industry-leading team of skilled auditors have unmatched experience and knowledge of every facet of Mortgage Quality Control operations, ensuring your firm minimizes risk and stays compliant from Pre-Funding to Post-Closing to Servicing. Our tailored Mortgage QC services and SecondLook Software deliver all the tools needed to ensure loan quality remains high, providing your firm with peace of mind as we enter the New Year. Don’t just adapt; lead with confidence. Contact TENA today to get started and position your firm for Quality Control success in 2024!

“Technology for technology’s sake is useless.” That’s the mindset that drives the mortgage technology experts at ICE as they modernize the American homebuying process via digital solutions built with a purpose. Watch here as HousingWire’s CEO Clayton Collins sits down with Sandra Madigan, EVP of Product Strategy at ICE Mortgage Technology, to discuss the careful consideration it takes to effectively “digitalize” the mortgage industry. You’ll learn how ICE is unifying all parts of the homebuying journey and how that digitalization impacts homeowners, as well as back-office teams who support consumers. Catch the full interview here to hear how ICE is approaching product development and helping to improve the homebuying and homeownership process end-to-end, and which aspects of the mortgage experience the industry needs to digitalize next.

“If Fed fund futures are right, by the time we all meet at next year’s MBA Secondary, the Fed may have already cut once and may even be on their way to a second cut! Right now, MSR valuations are “hanging in there” but Fed cuts will likely erode some of the value from ‘float’ on escrow. Blue Water (“Blue Water Financial Technologies Services, LLC”) can assist lenders to sell bulk MSR, regardless of size. With BlueRATE™, a lender can obtain an instant portfolio valuation and then determine what to sell – whether it be a small geo carve or the entire MSR portfolio. Blue Water can also assist in moving your product quickly with Blue Water’s proprietary SuperTransfer™. With SuperTransfer™, transferring the portfolio to a buyer is easier than ever. Connect with our expert Sales Team to learn more.”

Have you heard about the laws the FCC and the TCPA have implemented for the new A2P 10DLC requirements, to try and stop the junk texting? Hopefully, you have because the fines for noncompliance are serious. Are your salespeople texting their databases? Since ALL texting through mortgage CRMs falls under this federal law, it is imperative that you utilize texting legally and compliantly. What have your CRM providers done to help you navigate this challenging compliance landscape? Usherpa is pioneering the way on this front, making sure they’re texting platform was built to the letter of the law, ensuring that their clients are not exposed and are utilizing texting legally. Click here to learn more about the regulations and what you need to do to be compliant. Share this Infographic with your team.

Correspondent and Wholesale Programs

“Long-term Rental or Vacation Rental? Visio Lending is the nation’s leader in Non-QM Investor DSCR loans for buy and hold SFR rentals with nearly a decade of experience and over $2.5 billion in originations. No-DTI, 30-year terms, rate buy downs, free 45-day rate locks; I/O and Sub-1 DSCR options available. Through our top-notch Broker Program, brokers are able to earn up to 2 points YSP, and 5 points total. Visio Brokers can count on a designated Account Executive and in-house processing.”

Yesterday, December 11, Symmetry Lending launched its new First Lien HELOC! This new solution presents an opportunity for mortgage brokers and loan officers to extend their reach and offerings to even more of their client base, helping to drive new business and extend borrower relationships in a still-challenging market. In addition, brokers will be able to collect 1.5 percent on the draw amount (with no maximum!) for Symmetry’s First Lien HELOCs! This new product launch is a major win for brokers, loan officers, and borrowers alike. Contact your Symmetry Area Manager for more product details and support with presenting this product to your clients.

“Axos Bank’s Wholesale & Correspondent and Warehouse lending teams wish you and yours a happy and prosperous 2024! Our teams are here to help you achieve your goals in the year ahead. Axos’ innovative mortgage solutions include Super Jumbo ($3MM+) loans, buy-before-sell options, and cross-collateralization programs. Check out our rates on our Quick Pricer today or contact J Shoop, National Sales Director, for additional details. And our Warehouse Lending team can help you gain the flexibility and liquidity that’s needed to become a top originator in today’s market. With our expanded product eligibility, investor relationships, and extended cutoff times (6:15 p.m. ET), achieving success has never been easier. Take the opportunity to meet our team at the IMB conference in New Orleans Jan. 22-24. To secure a meeting time, simply reach out to Eric Nelepovitz and Justin Castillo via email, or call 888-764-7080.

Conforming Conventional News

Freddie Mac has launched DPA One® to help mortgage lenders quickly find and match borrowers to down payment assistance programs nationwide. DPA One is an innovative new tool that aggregates and showcases down payment assistance programs in a single, standardized, insights-rich tool so lenders can quickly and efficiently access and compare programs to help make home possible for more families. Loan officers and down payment assistance program providers can visit the DPA One website for more information and to request a demo.

Fannie Mae posted Lender Letter LL-2023-09, confirming Conforming Loan Limit Values for 2024. The new loan limit for most of the country will be $766,550 — a 5.56 percent increase over the 2023 limit and is effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2024. View the Loan Limit Look-Up Table.

Fannie Mae is partnering with Freddie Mac to develop standardized subordinate lien documents. This is part of a comprehensive effort to expand access to down payment and closing costs assistance programs. Access down payment assistance information.

Freddie Mac Guide Bulletin 2023-24 announced updates pertaining to 2024 conforming loan limit values, An additional 10-day pre-closing verification type, Cash-out refinance mortgages, Condominium projects, GreenCHOICE Mortgage® enhancements, Market condition adjustments. Watch the Q4 2023 Policy Highlights Video. See highlights from all of the Guide updates this quarter in the Q4 2023 Policy Highlights video.

The Uniform Property Dataset (UPD) was implemented into Fannie Mae’s Property Data API on December 1st and is now available for lenders to use with Fannie Mae’s value acceptance + property data offers. Use of the UPD will be required as of April 1, 2024, when Fannie Mae’s proprietary Property Data Standards v6 will be retired. Visit the UPD page for more information.

Capital Markets

Hasbro, the toy company, is laying off 1,100 of its employees, equal to 20 percent of its workforce. An isolated situation or an indication of the overall economy?

The Fed’s Federal Open Market Committee’s two-day meeting kicks off today in Washington D.C. The Fed is nearly assured to maintain interest rates at current levels of 5.25 percent to 5.50 percent for its last decision of the year. The Fed’s policy statement will likely acknowledge the recent decline of inflation and the bank will release its latest dot plot, which will indicate how many rate cuts the Fed expects next year. Chair Powell will likely emphasize that the Fed is still willing to hike if inflation proves stickier than expected. Forecasts are for the Fed to make the first rate cut of this cycle in June.

Outside of the Fed, there was a 10-year note auction yesterday and there is a 30-year bond auction today. The $37 billion 10-year note auction met underwhelming interest, but the market held its ground. The 10-year Treasury yield has fallen around 80 basis points from its mid-October peak as more confidence that the Fed will start reducing interest rates in the next six months has been priced into the markets. Agency MBS have followed to some extent, but prepayment fears are not helping MBS investor appetites.

Prior to the start of the FOMC’s two-day meeting, today’s economic calendar kicked off with the NFIB Small Business Optimism Index for November. More importantly, the consumer price index for November is also out. Headline CPI came in +.1 percent, +3.1 percent year over year, versus 0.0 percent month-over-month and 3.2 percent year-over-year previously. Core CPI increased .3 percent as expected month-over-month and 4.0 percent year-over-year expectations. Later today brings the aforementioned $21 billion reopened 30-year bond auction and the Federal budget for November. Remember that the last 30-year bond auction was weak, so this one will be closely watched. We begin the day with Agency MBS prices better than Monday afternoon by a solid .250, the 10-year yielding 4.16 after closing yesterday at 4.24 percent, and the 2-year at 4.65.

Employment

Movement Mortgage is looking ahead to more in 2024! Movement is investing in LOs through its More in ’24 bootcamp, a ground-breaking curriculum designed to help build momentum in business and drive new levels of success in 2024. Weekly coaching call topics include mining for gold in your database, setting a strategy for your 2024 business plan, creating stellar follow-up systems, building referral partnerships that last and more. More in ’24 is just one of the ways Movement is helping LOs close out 2023 strong and set a plan to jump start 2024. Are YOU ready for more in ’24? Reach out to Sarah Middleton, Movement’s Chief Growth Officer, today to learn more about Movement! Plus, Movement offers new loan officer hires 90 days of free one-on-one coaching with Movement top producers. Reach out today and join the Movement!

A veteran group of mortgage bankers is interested in purchasing a small wholesaler in good standing and that has its “tickets” with Fannie, Freddie, and Ginnie. Loan production volume is not a priority. Interested parties should send me a confidential note for forwarding.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

Apache is functioning normally

The Bush Administration has failed to implement a sweeping plan to tackle the ongoing mortgage crisis, according to governors who are in Washington for the annual National Governors Association Winter Meeting.

The group said in a release that the two mortgage aid plans currently extended to struggling borrowers fall short because they are confusing, exclude a large number of homeowners, and don’t have “any reporting system to monitor participation and efficacy.”

“Homeownership is a cornerstone of the American Dream and serves as a basic foundation for our local, state and national economies,” said New York Governor Spitzer. “The federal government has failed to offer a solution that is broad enough and swift enough to aggressively stop this crisis from escalating.”

They noted that the Fed’s aid plans don’t have straightforward guidelines for the types of loan modifications or workouts that would be offered to homeowners, stymieing efforts that would likely lead to a higher success rate.

“I urge the Office of the Comptroller of the Currency ( OCC ) to compel the national banks and servicers to work with state governors and regulators by providing detailed loan information about delinquencies and potential foreclosures so that states and local governments can accurately assess the foreclosure impact on citizens and their communities,” Arizona Governor Janet Napolitano said.

The governors also want the federal government to get involved with the individual efforts set forth by states across the nation to help solve the problem and create a safety net for the future.

“Maryland, like other states, is taking steps to preserve homeownership and protect its families from this national foreclosure crisis,” said Governor Martin O’Malley.

“But Maryland cannot go it alone. We need a strong partnership with our federal government, which includes passage of strong housing legislation, to help us keep our families in their homes and protect our middle class. The federal government has to work with our states to provide the tools necessary to overcome this national crisis.”

We all know that borrowers and mortgage lenders/servicers have a tough enough time connecting, so any added transparency would likely improve matters for everyone involved.

“The crisis in the sub-prime mortgage market has had a devastating impact on homeowners and entire communities across our country,” Illinois Governor Rod R. Blagojevich said. “In Illinois alone, it is possible that up to 70,000 homeowners will face foreclosure this year. A real solution will require lenders, consumers, advocates and public policy makers to all work together.”

Last week, Illinois unveiled the Homeowners’ Assistance Initiative, a program aimed at helping homeowners trapped in subprime adjustable-rate mortages refinance into fixed-rate mortgages by working directly with the lenders.

(photo: nictalopen)

Source: thetruthaboutmortgage.com

Apache is functioning normally

If your parents are high earners, you might assume you won’t get any financial aid to help pay for college. But that’s not necessarily the case. The Department of Education doesn’t have an official income cutoff to qualify for federal financial aid. So, even if you think your parents’ income is too high, it’s still worth applying (it’s also free to do so).

Read on to learn how to get financial aid for college when you think your parents make too much money, as well as how to pay for college costs if you don’t qualify for financial aid.

Table of Contents

It All Starts With the FAFSA®

The first step to knowing whether or not you qualify for any financial aid is to fill out the Free Application for Federal Student Aid (FAFSA). Even if you think your parents make too much to qualify for financial aid, it’s a smart idea to fill out and submit this form.

For one reason, there’s no income cutoff for federal student aid, so you may be surprised by what you are able to qualify for. For another, the FAFSA gives you access to non-need-based aid, such as Direct Unsubsidized Loans and institutional merit aid.
💡 Quick Tip: You’ll make no payments on some private student loans for six months after graduation.

Who Determines Aid Amount and Type?

The financial aid office at your chosen college or career school will determine how much financial aid you are eligible to receive. Here’s a look at what goes into the decision.

1. The first factor considered is the cost of attendance (COA), or what it costs a typical student to attend a particular college or university for one academic year. Cost of attendance includes tuition and fees, as well as books, lodging, food, transportation, loan fees, and eligible study-abroad programs.

2. Then the school considers your Student Aid Index, or SAI (formerly called Expected Family Contribution, or EFC). Your SAI is an eligibility index number that results from the information that you provide in your FAFSA.

3.   To determine how much need-based aid you can get, the school will subtract your SAI from the COA. Need-based aid includes Pell Grants, Direct Subsidized Loans, and federal work-study.

4. To determine how much non-need-based aid you qualify for, the school takes the COA and subtracts any financial aid you’ve already been awarded. Federal non-need-based aid includes Direct Unsubsidized Loans, Direct PLUS Loans, and TEACH Grants.

One big difference between subsidized and unsubsidized loans is when interest accrual starts. Because subsidized loans are need-based, the government covers any interest that accrues until loan repayment starts (typically six months after graduation). With unsubsidized loans, the interest starts to accrue from day one (though you don’t need to start making loan payments until six months after graduation).

You can estimate your eligibility for federal student aid by using either the Federal Student Aid Estimator or your school’s net price calculator (which you can find using the Department of Education’s search tool).

What Are Rules on Dependency, Divorce?

A student’s dependency status can make a big difference on their SAI. Not living with parents or being claimed on their taxes, however, does make you an independent student. To be considered independent for federal financial aid, a student must be at least 24 years of age, married, on active duty in the U.S. Armed Forces, financially supporting dependent children, an orphan (both parents deceased), a ward of the court, or an emancipated minor.

The rules regarding financial aid and divorce are changing for the 2024 – 2025 school year. The new FAFSA rules require the parent who provided the most financial support in the “prior-prior” tax year to complete the FAFSA application instead of the custodial parent. Prior-prior refers to the tax year two years ago from the beginning of the college semester. For the 2024 – 2025 award year, FAFSA would be looking at the 2022 tax year for this determination.

Other Routes to Meeting All Needs

The government isn’t the only path to money for school. Here are several other options you may want to consider.

Scholarships

The best thing about scholarships? You don’t need to pay them back. The second best thing is that they’re most often based on merit, not need.

So even if your parents make a good living, you may still be eligible. While many are awarded solely on academics, others are given for athletic talent, specific interests, or being a member of a specific group.

There are numerous college scholarships out there, offered by schools, employers, individuals, private companies, nonprofits, communities, religious groups, and professional and social organizations. To suss out scholarship opportunities you might be eligible for, talk to your high school guidance counselor, your college’s financial aid office, and/or check out one of the many online scholarships search tools.

An Appeal of Your SAI

If your financial aid offer is less than you need to be able to afford college, you are within your rights to appeal to the school’s financial aid director.

You might want to be prepared to back up your request with detailed information such as your SAI, the amount you’ll need to successfully attend school, or a change in circumstances that will affect your family’s actual ability to pay, such as a parent’s job loss.

Recommended: How To Write a Financial Aid Appeal Letter

Parent Loans

Parents can apply for a Parent Plus Loan through the Department of Education. These loans are available to parents regardless of income, provided they do not have an adverse credit history. For loans disbursed on or after July 1, 2023, and before July 1, 2024, the interest rate is 8.05%. This is a fixed interest rate for the life of the loan. There is also an origination fee of 4.228%, which is deducted from each loan disbursement.

Some private lenders also offer parent student loans. You can apply for a private parent student loan directly with the lender. Before signing up for a private parent loan, it’s a good idea to shop around to find the lowest student loan interest rate you qualify for. Some lenders have a pre-qualification process that allows you to see a personalized rate before the lender does a hard credit pull.

Both federal and private parent loans can be used to cover any gaps left over after scholarships, grants, and other financial aid have been applied, up to the full cost of attendance.
💡 Quick Tip: Parents and sponsors with strong credit and income may find much lower rates on no-fee private parent student loans than federal parent PLUS loans. Federal PLUS loans also come with an origination fee.

Private Student Loans

Private student loans are also available to students to help them cover the costs of higher education, and they could be a good Plan B if there’s a gap between the aid you received (including federal student loans) and the cost of attendance.

Private student loans don’t have federal benefits like income-driven repayment plans and forgiveness programs, and interest rates are typically higher than undergraduate federal student loans. However, unlike federal student loans, you can apply for them at any time of the year. Plus, you can typically borrow up the full cost of attendance, which gives you more borrowing power than you get with federal student loans.

Private student loans can have either a fixed or variable interest rate; rates are determined by the lender. Qualifying for a private student loan is based on the borrower’s creditworthiness rather than need.

The Takeaway

What happens if your parents make too much money to qualify for financial aid? You may have to shift course a little bit, but there are other ways to get help paying for all of the expenses of college, including merit-based scholarships, non-need-based federal student loans, and private student loans.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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Source: sofi.com

Apache is functioning normally

Today we’ll take a look at another home builder’s lender, K. Hovnanian American Mortgage.

They are the affiliated lender of K. Hovnanian Homes, which is a top-15 home builder nationally.

Like other builders, they created their own financing division to streamline their new home sales.

And to better control the customer experience from start to finish.

The biggest perk to using them is the financing specials you likely won’t find elsewhere. Read on to learn more.

K. Hovnanian American Mortgage Fast Facts

  • Affiliated mortgage lender for K. Hovnanian Homes
  • Provides home purchase loans for new home buyers
  • Founded in 2002, headquartered in Boynton Beach, FL
  • Parent company is one of the largest home builders nationwide
  • Licensed to do business in 14 states and the District of Columbia
  • Funded more than $1.1B in mortgages last year
  • Most active in the states of Arizona, California, Delaware, Texas, and Virginia

As noted, K. Hovnanian American Mortgage is the lending division of K. Hovnanian Homes, a top U.S. home builder.

Their parent company Hovnanian Enterprises, Inc. is a publicly traded company (NYSE:HOV), currently valued at nearly $1 billion dollars.

They’ve been around since 1959, and operate 128 residential communities across 14 different states.

Those states include Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, West Virginia, and Washington, D.C.

These are the places where K. Hovnanian American Mortgage is licensed to lend as well, since they only exist to serve their home buyer customers.

In fiscal year 2022, they delivered more than 6,000 homes to buyers across all markets, putting them in the top-15 largest homebuilding companies in the United States.

The lending unit got its start way back in 2002 and is headquartered in Boynton Beach, Florida. At present, they have 36 licensed mortgage loan originators working at the company, per the NMLS.

Because they are a home builder lender, they only offer home purchase loans. No mortgage refinances are available.

But they also operate a full-service title company called Eastern National Title Agency and Hovnanian Insurance Agency.

So you can get your new home, mortgage, title insurance, escrow services, and even homeowners insurance all from one umbrella company.

Of course, it can pay to shop around, so don’t overlook savings for convenience.

How to Apply for a Loan

To get started, you can visit a new home sales office or visit their website. Either way, you’ll be put in touch with a licensed loan officer.

They’ll be able to discuss pricing and loan options with you. If you like what you hear, you can proceed to the loan application.

It’s a digital app powered by ICE Mortgage Technology that can completed from any device, including a computer, tablet, or smartphone.

It allows you to link bank accounts and other financials, upload key documents, and eSign disclosures on the fly.

Once submitted, you’ll be able to check loan status 24/7 to determine what outstanding items still need to be completed. And you can get in touch with your lending team whenever you have questions.

Ultimately, they make it easy to apply for a home loan thanks to the latest tech, but also have a human lending team standing by.

Note that loans are sold off to a third party after closing because they are not a loan servicer.

Loan Programs Offered by K. Hovnanian American Mortgage

  • Home purchase loans
  • Conforming loans
  • Jumbo loans
  • FHA loans
  • VA loans
  • USDA loans
  • Fixed-rate loans: 30-year fixed, 15-year fixed
  • ARM loans: 5/6 ARM, 7/6 ARM
  • Buydown loans: 3/2/1 and 2/1 buydowns
  • State bond loans

Despite being a home builder lender, K. Hovnanian American Mortgage offers a good variety of loan programs, including conforming loans backed by Fannie Mae and Freddie Mac and jumbo loans.

They also offer all the major government-backed mortgages, including FHA loans, VA loans, and USDA loans.

In addition, you can get either a fixed-rate loan, such as a 30-year or 15-year fixed, or an adjustable-rate mortgage, such as a 5/6 ARM or 7/6 ARM.

Given the recent rise in mortgage rates, they also offer buydown loans, including a 3/2/1 buydown that discounts the rate a full three percentage points in year one.

You might also be able to get your hands on some homebuyer assistance via select state bond loans that offer lower down payments and government subsidies.

K. Hovnanian American Mortgage Rates

While some mortgage companies post their daily mortgage rates online, K. Hovnanian American Mortgage does not.

With regard to how their interest rates are, they simply say, “There is no way to accurately and honestly answer this question without first evaluating your individual situation and financing needs.”

In other words, mortgage rates vary by customer, based on loan parameters such as credit score, down payment, loan program, and so on.

The good news is they may offer special financing offers to their new home buyers, as is often the case with affiliated builder lenders.

Because builders often buy forward commitments in bulk, they can apply special discounts that are often hard for outside lenders to beat/match.

But these deals are often limited to certain homes in specific developments, and the funds are subject to running out.

They are also time-limited, meaning you must get under contract and/or close by X date to use these special funds.

When you speak to a new home buying rep or loan officer, be sure to inquire about deals such as permanent or temporary rate buydowns.

This may come in the form of a closing cost credit, which can be applied to a mortgage rate buydown.

These can make or break your decision to use the home builder’s lender or an outside bank/lender.

K. Hovnanian American Mortgage Reviews

There aren’t a ton of reviews for the lending arm of K. Hovnanian. But they do have a few kicking around.

They’ve got a 4.3/5-star rating from six reviews on Redfin, and a perfect 5/5 on a separate Redfin page from five reviews.

Meanwhile, their parent company has a 4.3/5 from nearly 4,000 reviews on NewHomeSource, which is a much better sample size.

And given the fact that most of the parent company’s home buyers are likely also mortgage customers, these should be relevant.

Of course, it’s not all perfect. Over at ConsumerAffairs they have a much more questionable 1.4/5 from over 250 customer reviews.

So a bit of a mixed bag, though some reviews may have to do with the properties themselves, not the mortgages.

Be sure to take the time to read through the reviews to determine potential hiccups that you might be able to avoid.

Lastly, they are an accredited company with the Better Business Bureau (BBB) and currently hold an ‘A+’ rating based on complaint history. Speaking of, they have zero complaints on file.

To sum things up, K. Hovnanian American Mortgage seems to offer a good mix of technology, a full loan menu for home buyers, and decent customer reviews.

They also have the huge advantage of offering below-market mortgage rates like other home builder lenders.

But always gather more than a single mortgage quote. While K. Hovnanian American Mortgage may offer the best pricing, there might be better deals out there.

And if you have competing quotes, they may be more willing to negotiate with you on rate and/or closing costs.

K. Hovnanian American Mortgage Pros and Cons

The Pros

  • Can apply for a home loan online
  • Digital mortgage application powered by ICE Mortgage Technology
  • Plenty of loan programs to choose from
  • Offer mortgage rate specials for home buyer customers
  • Lots of excellent customer reviews
  • A+ BBB rating, accredited company
  • Lots of free mortgage calculators on their website
  • Extensive mortgage glossary explaining key terms

The Cons

  • Only offer home purchase loans
  • Aren’t licensed in all states
  • Do not publicize mortgage rate or lender fees
  • Some mixed reviews for parent company
  • Do not service loans after closing

Source: thetruthaboutmortgage.com