Vicki Lowe Withrow

When it comes to mortgage terminology, it may sound like a whole new language. Use our comprehensive mortgage glossary to understand key mortgage terms you may encounter throughout the loan process. https://lnkd.in/eEnD2h2b

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When it comes to mortgage terminology, it may sound like a whole new language. Use our comprehensive mortgage glossary to understand key mortgage terms you may encounter throughout the loan process. https://lnkd.in/eEnD2h2b

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When it comes to mortgage terminology, it may sound like a whole new language. Use our comprehensive mortgage glossary to understand key mortgage terms you may encounter throughout the loan process. https://lnkd.in/eEnD2h2b #strong #mortgage

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When it comes to mortgage terminology, it may sound like a whole new language. Use our comprehensive mortgage glossary to understand key mortgage terms you may encounter throughout the loan process. https://lnkd.in/eEnD2h2b #strong #mortgage

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Competitive rates and streamlined processes will heat up your mortgage production and leave your competition in the shade. ?? A few ways our sizzlin' service makes you shine: ?? We have ITIN loan options for Borrowers without a SSN. ?? We go up to 85% LTV on ITIN Loans. ?? You?can talk directly to decision-makers to drive efficiency. ?? We can close quickly with an average between 10-21 days. Find out more about the Community Alt-Doc and ITIN programs that will have you heating up your pipeline at https://lnkd.in/d739YaGi. #ITIN #AltDoc #NonQM #CommunitySavings

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Growth in the mortgage industry isn’t always a straight line. In fact - it almost never is. It can feel like a game of stops and starts, leaving many brokers feeling stuck and frustrated. But what if you could shift your perspective? What if those pauses are simply opportunities for reflection, learning, and recalibration? At Tango, we believe that maintaining forward momentum is key. Growth isn’t just about hitting the next milestone; it’s about building resilience and finding your path, even when the road gets bumpy. We understand the challenges you face, and that’s why we provide a curated suite of tools and resources designed to empower you, no matter where you are in your journey. With access to cutting-edge technology, ongoing training, and a supportive community, our agents can break through barriers and focus on what truly matters—nurturing client relationships and driving their business forward. If you’re ready to turn those stalls into stepping stones, let’s embrace the journey together. Your path to meaningful growth starts here. ??

Do state exam notifications make you feel like you've just been pulled over by the police in rush-hour traffic? If so, you're not alone. Prepare to navigate your next state examination with confidence! Don't let state exams catch you off guard. Our latest blog post offers a comprehensive guide to mastering the state examination process stress-free. From the initial notification to the final response, we provide actionable strategies to ensure your non-bank lending operations are fully compliant and inspection-ready. #MortgageCompliance #StateExamination #ComplianceManagement https://lnkd.in/esyhF7wK

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There’s no question mortgage production fell steeply when the refi boom went bust. But since current production volumes are about the same as they were in Q1 in 2019, why is the industry struggling so much more today than we were 5 years ago? A chart from the Mortgage Bankers Association’s latest Research Insights Quarterly (RIQ) report illuminates one reason for the current pain: runaway production expenses. Fully-loaded production expenses are now 34% higher than they were the last time average production volume was at the current level. Argyle can help combat rising origination costs. #Mortgage lenders using Argyle report 60–80% savings on #verification of income and employment, including free reverifications. Not to mention the time savings your team will enjoy with near-instant turnaround on VOIE reports! Learn more about how Argyle can help you get back in the black. https://lnkd.in/eXRtnaT6 #mortgagelending #fintech #data

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September is National Mortgage Professionals Month, so we're introducing you to some of our Single-Family Lending team who together worked to help more than 1,600 West Virginians purchase their first homes last year. Today we meet Mortgage Loan Originator Melissa Smith. Describe your job in a couple of sentences. I originate and process mortgage loans for first-time homebuyers or even buyers upgrading to a bigger home. I also originate preapproval applications for potential new homeowners. How long have you worked in the mortgage industry overall? 31 years and have seen many changes in this industry. What is your favorite thing about working in the mortgage industry? My favorite thing about this industry is hearing the joy of a first-time homebuyer who never thought they could buy a home and that our mortgage programs helped them achieve that dream. Also, when they tell you how easy we made the mortgage process for them. What is the top tip or advice you would give to someone who is in the process of buying their first home? My advice is before you start looking for a home to get preapproved so that you know what sales price to look at and what your estimated payment will be so that you are not overextending yourself. Also monitor your credit score through a reputable credit monitoring company and have some savings built up, because you are going to need funds to pay for items during the mortgage process. A good credit score and having money saved will increase your chances of getting preapproved to buy a home.

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How is your team tackling the spikes in #delinquency ?? #CreditUnions and Community #Banks are turning to Eltropy's #AI-Powered Conversations Platform to tackle rising delinquency rates in the lending industry. As delinquencies spike, our innovative solution is empowering financial institutions to navigate challenges and enhance customer interactions ?? Check out the full release ?? https://lnkd.in/ghkK5Gax

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The top five producers with the largest jumbo loan volume had an average dollar volume of more than $99 million in 2023. Read here for more about the dollar volume of the top 20 producers. #mortgage #topproducers

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How to Pay Off Your Mortgage Early: Biweekly Payments Explained ??? Ever get those offers from your bank about a biweekly payment program and think, "Is this even worth it?" The math can seem daunting, but don’t worry—we’ve done the homework for you! If you’ve got a mortgage, you’ll want to stick around for this one. Let's break it down! Most homeowners don't realize that they pay the most interest on their mortgage in the first seven years. If you look at your mortgage statement, you'll see a huge chunk of your payment goes towards interest, not the principal. Banks know most people sell their homes within seven years, so they front-load the interest to get their money first. Biweekly Payments: What’s the Deal? ?? Banks often offer a biweekly payment plan where you pay half of your monthly mortgage payment every two weeks. Here’s a quick math lesson: - Monthly Payment: Let's say your mortgage is $2,000 a month. That’s $24,000 a year. - Biweekly Payment: Instead of $2,000 monthly, you pay $1,000 every two weeks. Since there are 52 weeks in a year, you end up making 26 payments, totaling $26,000. By making that extra payment, more of your money goes towards the principal. Over time, this reduces the amount of interest you pay and shortens the life of your loan. You could cut six to eight years off a 30-year mortgage just by making these extra payments! Why DIY is Better ?? Instead of opting for the bank's biweekly payment plan, we want you to manage the extra payments yourself. Meaning, you'll pay an extra payment over the course of the year on your own terms. Why? - Consistency: Doing it this way allows you to keep one consistent mortgage payment rather than trying to figure out when and how to make the months with three payments work. - Flexibility: You control the timing and amount of extra payments. - Precision: Ensure extra payments are applied directly to the principal, not future interest. Steps to Make It Happen ?? 1. Do the Math: You'll want to take your mortgage payment and divide it by 12. Add that amount to your current mortgage payment and that's the number you need to hit to get in one full extra payment per year. 2. Check Your Budget: Determine if you can afford the extra payments. 3. Talk to Your Bank: Ensure any extra payments are applied to the principal, not future payments. 4. Automate: Set it and forget it. Make these payments automatic so you don’t have to think about it every month. Switching to budgeting extra payments might seem small, but it can lead to massive savings and financial freedom down the line. Remember, it’s all about making your money work smarter, not harder. You’ve got this! ?? Feel free to share this post with anyone who might benefit from these tips! ?? #MortgageTips #FinancialFreedom #SmartMoney #HomeOwnership

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