Have you ever thought about the mortgage loan process? If you’re in the market for a home, you may be shopping for the perfect mortgage option. Understanding where the process originates can help you map out your homebuying timeline and identify the professional institutions you’ll work with to secure your loan.
What is a mortgage origination company?
A mortgage origination company is a business working closely with underwriters to complete the first and finalizing steps for mortgage loans. They gather documents, personal information and signatures to make sure the process runs smoothly.
What are mortgage loan origination activities?
Mortgage origination is the first company (originator) who starts the loan process. This can be but is not limited to mortgage brokers, retail banks and other mortgage lending institutions. They gather documents such as W-2s, personal ID’s and credit history to determine if applicants are qualified to receive a loan.
How many people have mortgages in the US?
For most homeowners, financing through a mortgage loan was the best way to secure a property. Recent mortgage statistics have found over 64 percent of homeowners financed their home purchase through a mortgage loan.
How much of the US debt is in mortgages?
For many homeowners, mortgage debt constitutes the largest portion of money owed to any institution. Currently, around 70 percent of US debt stems from mortgages.
Taking on a mortgage is a large responsibility, so it’s wise to do research on the mortgage industry to best understand mortgage rates and trends. Doing so can help you find the best deals to finance your home purchase.
About the Author
Joseph Nuzzolo
Joe was Born and raised in New York and came to LA when he was 25 years old. He started in the fine arts industry with tremendous success. As a Sales Expert, he has closed over 11,000 art deals. It was his love of working with fine art, his creative mindset – and a succession of personal real estate investment deals – that led him into the world of real estate. He was the top agent for 3 Leaf Realty before opening his own firm.
In 2017 Joe decided to branch out on his own and launch his long planned and awaited, Thompson Team Real Estate based in Torrance. Where he and his team of hand picked agents cater to a discerning clientele. Through his 30 years of sales experience, Joe has built a strong and formidable reputation with clients, industry professionals and peers. He utilizes the latest technologies, market research and business strategies to exceed his client’s expectations. More importantly, he listens and finds solutions that are tailored to each client’s specific needs.