The national average total closing costs for a purchase mortgage transaction were $4,661. This amount consists of a national average of 1.06% of the home sales price.
For this special episode of the Full Disclosure podcast, Jim and Alayna are returning to their Lending Leaders roots and welcoming an exciting guest, Brian Vieaux, CMB, the new president of MISMO. Together they discuss the future of mortgage industry standards and how rapidly AI is changing the game.
Yes, the coming months will likely present some old and new problems for businesses in our space. Some will not be up to the challenge.
The substantial pivot we’re seeing in the mortgage market right now may provide us a new opportunity to accelerate the long, slow march to a more transparent and clearer process.
First, change is inevitable. Second, no business is “too small” to seek continuous improvement, especially in their own processes.
Some of the greatest examples of fulfillment and purpose through employment that I’ve heard about have happened for people working for small businesses.
we still see way too much of the strategy that demands mass hiring in robust markets, then mass layoffs when those market cycles change.
LodeStar is among the 5000 fastest growing private companies of 2022. Not just in the mortgage and real estate industry, but in the entire national economy. We’ve just been named to the Inc. 5000!
It’s rare that we see any type of progress—of any kind—happen in a consistent, linear fashion. That’s certainly the case with DEI efforts in our space. They’re happening. Progress is taking place.
It’s a poorly-kept secret that more than a few LOs still believe that it’s all about the rate, the rate and the rate—nothing more. And yet, somehow, the best LOs manage to produce in any market.
Read our CEO Jim Paolino’s Deeper Thoughts and get the latest mortgage industry news.