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.
How are things at LodeStar and SettleWise? Good, actually. Jim and Alayna sit down to talk about things are going as we anticipate fall conference season and other new, exciting changes.
So this is our 100th Deeper Thoughts. Almost two years of content. LodeStar Reports is even older than that. Hopefully, you’ve seen the quality of content grow as our company and subscriber/readership base has. The more we’ve listened to you, the more things we’ve written about and the more, hopefully, we’ve all learned.
We recently hosted Wes Williams, an attorney and leading expert on cryptocurrency and blockchain, on LLL. The conversation was fascinating—you should check it out if you get the chance.
We’ve gotten a lot of great news here at LodeStar recently. Some of it we’ll share soon. But for starters, we’ve just learned that, for the second straight year, we’re a member of the Philadelphia100®. You may recall that this list is comprised of the 100 fastest growing, privately held businesses in the greater Philadelphia region.
By now, you probably know that LodeStar has launched our new website and, with it, rounded out our mission statement. That’s built upon what we call “The Three C’s:” Clarity, Connectivity and Community.
This week, we’re going to deviate from our typical conversation and offer up our own version of a mortgage trends report! However, it’s a topic that could become increasingly important, even though few are discussing it—yet.
We’re going to hit “pause” on our usual content stream for a moment. So we won’t be talking much about closing cost calculators, TRID guidelines or mortgage compliance this week. This is actually much more important (not that those other things aren’t important…).
It really astonishes us that more mortgage-related businesses aren’t fully taking advantage of the wonderful marketing lever that social media can be. We see some brands spending thousands upon thousands on outdated or downright bad lists.
We throw the term “mortgage lenders” around a bit casually here at Deeper Thoughts. In most cases, it suits the purpose. However, when you get down to it, all mortgage lenders are not created equally.
The power of clarity, one of the beats to which the LodeStar brand marches, is never more pronounced than during the closing process of a mortgage transaction. Unfortunately, it’s usually the lack of clarity that lenders and title agents hear about from borrowers and REALTORS.
Read our CEO Jim Paolino’s Deeper Thoughts and get the latest mortgage industry news.