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
Angie Morales-Link
Military wife and mother of 2, Angie is a proud real estate agent in Clarksville, TN. She moved to Clarksville in 2016 when her husband's orders took them to Fort Campbell after completing nine years in Savannah, GA. She wanted to take her love for serving her community and renovating homes to a new level, so she decided to dive in head first into real estate. In the past six years, she has become an expert in VA home loans to help other military families, new construction homes and first time home buyers. She also invests in properties, flips, renovates, and runs Airbnb homes. She is ALL-IN when it comes to real estate and knows first hand the best approaches ensure your family makes a smart investment AND falls in love with Clarksville.
