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 It was a similar story for Steve Miller, branch manager and senior loan officer at Embrace Home Loans.

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Realty Biz

MARCH 16, 2023

If qualifying for a conventional loan is difficult, and you aren't eligible for VA or USDA loans, an FHA loan could be the answer. FHA loans allow you to pay 3.5% But there are also downsides to FHA-insured loans. So is this type of loan right for you? What are FHA Loans?

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Maximum Exposure Real Estate

MARCH 13, 2023

What is an FHA Loan? Are you wondering what an FHA loan is and how they work? Over my thirty-seven years as a real estate agent, many clients have asked me about FHA loans and whether they would be a good mortgage choice. FHA mortgage loans are a staple for many homebuyers.

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Realtor.com

NOVEMBER 28, 2022

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan. So it’s win-win all round!

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Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

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Realty Biz

DECEMBER 29, 2021

Among the many mortgage options buyers have, the FHA loan is one of the most popular. Read on for a complete rundown of what an FHA loan is, how you qualify for one, and how an FHA loan compares to a conventional home loan. What Is an FHA loan? An FHA loan can be for up to 96.5%

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Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans.

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Maximum Exposure Real Estate

MARCH 23, 2023

The FHA 203K Loan Explained Over my years as a real estate agent, several home buyers have asked me about buying and fixing a house with one loan. The best method for doing so is an FHA 203k loan. 203k FHA loans are also referred to as FHA construction loans.

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FHA loan Loans Construction Agents 98

Housing Wire

SEPTEMBER 14, 2023

FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation. Department of Housing and Urban Development ( HUD ) called FHA Connection, a database used to insure and generate FHA case numbers associated with the borrower’s home loan application.

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Housing Wire

NOVEMBER 9, 2023

A total of 224 programs will fund certain upfront loan fees including the upfront mortgage insurance premium on FHA loans , the funding fee on VA loans and the guarantee fees on USDA loans. Of the 295 programs, 253 will fund permanent buydowns and 66 will subsidize temporary buydowns.

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Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

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Housing Wire

FEBRUARY 23, 2024

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. But experts also say the situation is not as bad as the one experienced during the COVID-19 pandemic.

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HomeLight

MAY 8, 2024

Selling a house “as is” in Louisiana? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes you may just want to skip repairs, get a fair cash offer for your property, and move on. If you’re selling a house “as is” in Lousiana, we’ve got you covered. No Is a real estate attorney required?

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Housing Wire

JANUARY 10, 2024

The increase in purchase and refinance applications for both conventional and government loans is promising to start the year but was likely due to some catch-up in activity after the holiday season and year-end rate declines,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. for the week ending Jan. from 14.5%

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HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

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RISMedia

DECEMBER 10, 2021

The FHA is now a go-to-place for moderate-to-low income workers with good credit histories. The post How to Get Approved for an FHA Loan appeared first on RISMedia's Housecall. By Lizzie Weakley Fo many years, the Federal Housing Administration was regarded as a destination for borrowers with low to zero credit scores.

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Housing Wire

DECEMBER 3, 2023

In 2024, roughly 75% of originations expected to come from purchase loans. Despite compressed volumes, cash-out refinance loans fueled what is left of the refinance market accounting for 92% of the third quarter activity. for FHA loans and 44.5% for VA loans. Borrowers withdrew a record $104,000 on average.

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Housing Wire

MARCH 22, 2023

The less competitive market has also resulted in more buyers using FHA and VA loans. In January, 16% of mortgaged home sales used an FHA loan , up from 13.3% a year ago, while the share of mortgaged sales using VA loans rose to 7.5% Detroit saw the highest share of FHA loans at 29.5% a year prior.

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Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. The DPA share in FHA’s total book of business, including refinances, was 27% as of October 2023.

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Housing Wire

MARCH 6, 2024

Of note, purchase volume — particularly for FHA loans — was up strongly, again showing how sensitive the first-time homebuyer segment is to relatively small changes in the direction of rates. Last week, refis accounted for 30.2% of all applications, down from 31.2% the previous week.

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Housing Wire

AUGUST 11, 2023

In addition, FHA delinquencies rose 10 basis points compared to the year-earlier period, and on a non-seasonally adjusted basis, rose 13 basis points year over year and 71 basis points from the first quarter of 2023. “As

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Housing Wire

NOVEMBER 8, 2023

3, total home loan applications increased 2.5% Applications for both purchase and refinance loans were up over the week but remained at low levels,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “”The The share of Federal Housing Administration (FHA) loan activity remained unchanged at 14.7%.

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Housing Wire

JANUARY 19, 2024

More than 50 mortgage loan officers were let go. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A. Representatives at the company did not immediately reply to a request for comments. Steve Rose is the lender’s president, per the company’s website.

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Housing Wire

FEBRUARY 7, 2023

It essentially 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. The fees are typically lower than in new loans, and no appraisal is needed. The product, known as an assumable mortgage, is not new.

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HomeLight

JANUARY 22, 2024

Looking to sell a house “as is” in Virginia? 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. It’s the] same as, accounts are low but equity is high, and they want to just sell it as-is to get access to their equity,” he adds.

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Housing Wire

JUNE 1, 2022

The Community Home Lenders Association (CHLA), backed by 41 IMBs, sent a letter urging the FHA to streamline its servicing guidelines, increase permissible lender fees for executing an assumption of an FHA loan, and make changes to FHA’s condo rules.

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FHA loan Loans Mortgages Banks 384

Housing Wire

OCTOBER 4, 2023

The share of Federal Housing Administration (FHA) loan activity inched up to 14.5% Meanwhile, the share of Department of Veterans Affairs (VA) loan activity of total mortgage applications was 10.1%, down from 10.9% Mortgage applications ground to a halt for the week ending Sept. of total applications from 31.9% from 14.1%

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HomeLight

DECEMBER 31, 2023

Are you considering selling your home “as is” in Arizona? 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. Why sell your home “as is”? Billings has over 500 transactions in his market, with an average price of $354,000. “If

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Housing Wire

DECEMBER 27, 2022

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Those forces are now shaking the timbers of the federal loan-guarantee program. .

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FHA loan Loans Mortgages Equity 479

Housing Wire

OCTOBER 18, 2023

The share of Federal Housing Administration (FHA) loan activity inched up to 14.8% The share of Department of Veterans Affairs (VA) loan activity was 10.7%, up from 10.2% the week prior while the share of Department of Agriculture (USDA) loan activity held steady at 0.5%. Meanwhile, the ARM share was 9.3%, 0.1

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Housing Wire

MARCH 11, 2024

The index for Federal Housing Administration (FHA) loans rose 28 bps to 6.66%, while the U.S. Nonconforming loan products, including jumbo and non-QM loans , claimed an additional 183 bps of market share, ending the month with 11% of the total volume.

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Housing Wire

DECEMBER 18, 2020

Conventional loans. A conventional loan is a smart way to finance an income-earning property. The differences between FHA, VA, and USDA mortgages. If you plan to use the property as an investment (you’ll have to indicate so on your loan application), then you could face more stringent qualifying requirements.

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Housing Wire

JUNE 3, 2022

Since then, Lakeview has unveiled two additional PLS offerings involving pools of delinquent FHA loans also securitized via Ginnie Mae. The more recent offerings — Lakeview Trust 2022-EBO2, which closed in late April; and Lakeview Trust 2022-EBO3, set to close in early June — also involve EBO loans, according to KBRA ratings reports.

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Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded You can’t buy just any house with an FHA loan.

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Housing Wire

JANUARY 17, 2024

first brought the issue up by saying it is an important element to address for the kinds of people who most commonly make use of FHA mortgage programs. “I When asked about an MIP cut, NHC President and CEO David Dworkin said the “bigger issue” is the life of loan requirement, and that the MIP is currently “at a reasonable level.”

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Loans FHA loan Equity Mortgages 466

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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FHA loan Finance Loans Agents 431

Housing Wire

APRIL 10, 2023

The Federal Housing Administration (FHA) loan share increased to more than 20% of the pipeline in March, up from 18% at the start of the year and 12% from a year ago. “A cooling market lacking the multiple bids and all-cash offers of the recent past has made sellers more receptive to FHA offers.

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FHA loan Marketing Lending Mortgages 384