Lab Coat Agents

MAY 21, 2024

Understanding Assumable Mortgages Before diving into the recent changes in approval timelines, let’s first establish a clear understanding of what an assumable mortgage is and how it differs from traditional home loans. Types of Assumable Mortgages There are three primary types of assumable mortgages: VA Loans: Backed by the U.S.

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VA loan Mortgages Loans FHA loan 98

Housing Wire

OCTOBER 4, 2023

But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So About half of Ullmann’s production this year comes from VA and FHA loans as well as mortgages that require down payment assistance.

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FHA loan Loans Loan Officer Mortgages 432

Housing Wire

FEBRUARY 28, 2023

Virginia-based mortgage bank Prosperity Home Mortgage, LLC has acquired the assets of Arizona-based JFQ Lending, LLC to explore the direct-to-consumer channel. The company has 548 active loan officers and 379 branches, per the Modex data. The financial terms of the transaction were not disclosed.

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Lending VA loan Loan Officer Loans 309

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

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VA loan FHA loan Fixed-rate mortgage Banks 352

Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. Considering other loans require anywhere from 3% to 10% down at minimum, this can mean serious savings from the start. And who couldn’t use an extra $60,000 in the bank?). 15-year mortgages.

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Mortgages VA loan Loans Loan Officer 424

HomeLight

DECEMBER 19, 2023

But what if there was a way to bypass these rates by taking over an existing home loan? But can you buy someone’s mortgage from the bank? What does it mean to buy someone’s mortgage from the bank? VA loans: These loans, provided by the Veterans Affairs , can be assumed by both veterans and non-veterans.

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Banks Mortgages VA loan FHA loan 94

HomeLight

DECEMBER 29, 2023

Looking to sell a house “as is” in Minnesota? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. “A However, selling a house “as is” usually means accepting a lower offer, and it doesn’t always prevent buyers from trying to negotiate savings.

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As-is Inspection Finance Investor 87

Housing Wire

MARCH 30, 2023

With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. Why is this so important?

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VA loan Loans Banks Mortgages 479

Housing Wire

JANUARY 17, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory. . Justin Messer, CEO at Prosperity Home Mortgage.

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Mortgages VA loan Loans Banks 342

Housing Wire

OCTOBER 21, 2022

The Community Home Lenders Association , a trade group whose members are smaller independent mortgage banks, asked Ginnie to “show flexibility” in these requirements as it works with issuers “in order to avoid a potential adverse market impact which might result from issuers selling Ginnie Mae MSRs to meet the new requirements.”

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VA loan FHA loan Loans Banks 309

Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. The central bank raised the interest rat e by a half percentage point on Wednesday to reduce the $9 trillion asset portfolio that ballooned since the pandemic. from the previous week.

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Mortgages VA loan Fixed-rate mortgage Banks 356

Housing Wire

MARCH 29, 2022

Whether borrowers scan paper bank statements or upload PDFs retrieved from online banking, they must provide lenders with all statement pages, including those intentionally left blank by the financial institution. Perhaps the loan is associated with a construction project that could take an unknown number of months to complete.

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Lending Earnest money deposit VA loan Loans 289

Housing Wire

AUGUST 26, 2022

HousingWire recently spoke with Lee Smith and John Gibson at Flagstar Bank about what originators can do to align their mortgage products and services with the ebb and flow of the housing market and what Flagstar is doing to help clients remain at the top of their game during this turbulent time. Lee Smith: Definitely.

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Mortgages VA loan Loans Technology 321

Housing Wire

JANUARY 26, 2022

” According to the company, jumbo loans will be available for both 15-and-30-year cycles. For qualifying buyers, loans can be distributed in amounts up to $3 million. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans.

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Mortgages VA loan Pre-approval Lending 299

Housing Wire

MAY 3, 2023

The jumbo-conforming spread continues to narrow, an indication that there is reduced lender appetite for jumbo loans following the recent turmoil in the banking sector and heightened concerns about liquidity. Mortgage applications fell last week by 1.2% The 30-year fixed rate decreased five basis points to 6.5%

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Mortgages Fixed-rate mortgage Banks Lending 360

Housing Wire

JUNE 8, 2023

After the creation of title insurance, this practice remained prevalent in the conventional residential mortgages, until the rise of the GSEs and commercial banks setting up mortgage operations. Due to the large national footprint of both the GSEs and large commercial banks, title insurance quickly became de rigueur.

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Title VA loan Title search Commercial 279

Housing Wire

SEPTEMBER 23, 2020

The 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act introduced new loan forbearance requirements, with some guidelines issued subsequently by various agencies. They must do all that, while also remaining compliant in handling, notifying borrowers of options or modifying the loan. Consumers and fair servicing problems.

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Loans VA loan Lending Technology 322

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

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Closing Fixed-rate mortgage Debt-to-income ratio Lending 338

Housing Wire

JULY 12, 2022

The VA also faces challenges unrelated to the pandemic. The perception of VA loans as risky and logistically complicated — even if an outdated view — continues to impact the competitiveness of the borrowers it serves. But the VA is hoping to change that. How is the VA addressing this?

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VA loan Loans Industrial As-is 332

Housing Wire

SEPTEMBER 22, 2023

While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% Elevated mortgage rates will lead to more lenders spilling red ink in the latter half of the year, in contrast to the improved financial performance of independent mortgage banks in Q2. We don’t know what third-quarter growth was.

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FHA loan Bankruptcy Marketing Loans 414

HomeLight

MAY 23, 2022

Looking to sell a house “as is” in Wisconsin? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. Sell 'As Is' With a Cash Offer. HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Request Cash Offer.

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As-is Inspection Investor Closing costs 101

Realtor.com

NOVEMBER 10, 2022

You might not be able to bank on receiving multiple offers over your home’s asking price. ” Market your assumable VA loan. Getty Images Selling a home is no longer the easy feat it was last year—or even six months ago. But if you’re in a position to sell, there’s no reason to give up hope.

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VA loan Loans Land Mortgages 106

Housing Wire

OCTOBER 24, 2022

And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. The 10 offerings together involve Fannie Mae , Freddie Mac and Ginnie Mae loan pools valued collectively at $12.77 Over the first nine months of this year, banks have far outstripped nonbanks in buying up MSR packages.

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Principal Banks Loans Mortgages 256

Housing Wire

SEPTEMBER 21, 2020

Millions of homeowners still have a sizeable incentive to refinance, given the difference between the rate on their current loan and available market rates. 1, 2020, it was not unusual to see lenders quoting higher rates for refinances relative to purchase loans. Just how busy have lenders been? trillion MBA is forecasting for 2020.

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FHA loan Loans VA loan Mortgages 540

HomeLight

AUGUST 24, 2022

Looking to sell a house “as is” in Connecticut? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. However, selling a house “as is” usually means accepting a lower offer and it doesn’t always prevent buyers from trying to negotiate savings. Disclosures.

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As-is Inspection Investor Closing costs 92

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. “As banks reduce their willingness to hold jumbo loans, we expect this narrowing trend to continue,” Kan said. Rates for jumbo loans increased to 6.62% from 6.48% in the same period.

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Mortgages Fixed-rate mortgage Marketing Loans 341

HomeLight

MAY 19, 2022

Looking to sell a house “as is” in Maryland? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. There are some misconceptions about what “as is” means, says top-rated Maryland real estate agent Juan Umanzor. “I They want to sell as-is.”. Request Cash Offer.

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As-is Inspection Investor Closing costs 94

Housing Wire

JANUARY 3, 2023

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. That said, modernization is a good thing as well and should never be feared.

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VA loan Loans Due diligence HR 73

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record. You will pay a VA funding fee when the deal closes.

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Loans VA loan FHA loan Hard money loan 98

Housing Wire

SEPTEMBER 13, 2023

Tim Mayopoulos , former CEO of Fannie Mae , who was named CEO of Silicon Valley Bank N.A. It allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. in March, is also listed as a senior advisor.

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Mortgages Loans Banks Investor 383

HomeLight

APRIL 29, 2022

Selling your Washington home “as is”? Whether you’ve got a fixer-upper or recently inherited a relative’s home, you’ve likely decided that the goal is to skip repairs, get a fair offer, and move on. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds. Disclosures.

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As-is Purchase and sale agreement Investor Inspection 67

Housing Wire

NOVEMBER 29, 2022

As early as September, months ahead of the FHFA announcement, a group of mortgage lenders raised their ceilings to $715,000 (baseline) and $970,800 (high-cost areas), lower compared to the loan limits announced. Pennymac said the new FHFA conforming loan limits for its borrowers increased immediately following the announcement.

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Loans VA loan Mortgages Lending 232

HomeLight

MAY 28, 2021

You think it’s almost too good to be true when you see one crucial caveat: It’s selling “as-is.” Red flags pop immediately into your head; you assume that can only be a nightmare. But, while it’s true some as-is homes require work only a contractor would dream of taking on, there can be more to these properties than meets the eyes.

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As-is Inspection Title search Inspection contingency 67

Norada Real Estate

MAY 3, 2023

Real estate loans are a crucial part of the real estate industry, providing investors with the necessary funds to purchase, renovate, or refinance properties. From conventional loans to government-backed FHA and VA loans, there are various types of real estate loans available in the market.

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Loans VA loan FHA loan Hard money loan 52

Marco Santarelli

OCTOBER 6, 2023

The motivation behind this article is to educate you on the different kinds of loans you get for an investment property. Conventional Loans Conventional lending is the most popular source for mortgage lending in today’s 1 to 4 unit properties. down and a VA mortgage with no down payment.

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Loans Hard money loan Lending Investor 98

Housing Wire

JULY 12, 2023

Purchase loans continue to claim a larger share of the origination pipeline as refinance opportunities dwindle, according to Black Knight ’s originations market monitor report. In other words, nearly nine out of every 10 mortgages originated is a purchase loan. In June, purchase locks made up 88.4%

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Marketing Loans Lending Mortgages 295

Housing Wire

MAY 15, 2023

Researchers at the Federal Reserve Bank of New York estimate the size of this boom in a new report. Department of Veteran Affairs mortgages outstanding as of the first quarter of 2020 were refinanced by the end of 2021, compared to 25% of Fannie Mae and Freddie Mac mortgage loans and 22% of Federal Housing Administration mortgages.

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Equity Loans Mortgages Banks 312