RIS Media

APRIL 28, 2023

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. The 30-year fixed mortgage rate climbed modestly, according to the latest Primary Mortgage Market Survey® from Freddie Mac. Watch for it each Friday afternoon.

Mortgages 95

Mortgages Industrial As-is Marketing 95

Realty Biz

JULY 19, 2022

Along with having a down payment, your credit score is probably the most important factor for a home mortgage. Just like saving a down payment, it can also take some time to repair your credit score if you need to or improve it to obtain a better interest rate that translates into a lower monthly mortgage payment.

Mortgages 99

Mortgages FHA loan Bankruptcy Loans 99

Housing Wire

APRIL 25, 2024

Photo credit: AJ Canaria It was initially billed as a discussion centered on the “biggest threats to a healthy mortgage landscape for homebuyers,” but some breaking news disrupted some of those plans. The session featured Developer’s Mortgage Co. This pilot helps mitigate the risk of repurchase, he said.

Loans 314

Loans Staging Mortgages As-is 314

Housing Wire

JANUARY 9, 2024

Ohio-based mortgage lender CrossCountry Mortgage has adopted the updated credit scoring model FICO Score 10 T to support origination of non-conforming loans and issue mortgage-backed securities (MBS), the company announced on Tuesday. a competing model incorporating trended credit bureau data.

Loans 426

Loans Investor Mortgages Lending 426

Housing Wire

FEBRUARY 9, 2024

The availability of mortgage credit increased in January, according to a report issued by the Mortgage Bankers Association (MBA) based on data sourced from ICE Mortgage Technology. The MBA’s Mortgage Credit Availability Index (MCAI) increased in January to 92.7, and the Conforming MCAI rose by 0.2%

Mortgages 408

Mortgages Lending Loans Technology 408

Housing Wire

FEBRUARY 8, 2024

housing credit looks very different than in 2005, 2006, 2007 or 2008. Homeowners have actually never looked better and the data from the Federal Reserve ‘s Quarterly Report on Household Debt and Credit shows why. Renters, younger renter households and those with lower FICO scores are the ones showing credit stress today.

Bankruptcy 426

Bankruptcy Equity Loans Mortgages 426

Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. The 10 T model can expand mortgage approval rates by up to 5% relative to classic versions without adding incremental risk, according to FICO.

Lending 368

Lending Mortgages Loans Banks 368

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report.

Mortgages 351

Mortgages VA loan FHA loan Lending 351

Housing Wire

APRIL 18, 2024

The challenges in today’s mortgage market have caused many originators to expand their loan product offerings outside of qualified mortgage (QM) criteria set by the Consumer Financial Protection Bureau (CFPB). Non-QM loans perform well, and the credit quality is sound. workforce is changing. today – and growing.

Marketing 382

Marketing Loans Investor Banks 382

Housing Wire

APRIL 5, 2024

mortgage industry recently had to remind itself of this fact when a CNN analysis found that the nation’s largest credit union, Navy Federal, has the widest disparity in mortgage approval rates between white and black borrowers of any major lender. Is the mortgage industry offering fair access to loans?

Mortgages 358

Mortgages Lending Banks Loans 358

Housing Wire

APRIL 22, 2024

Earlier this month, California-based multichannel mortgage lender CMG Financial announced that it had acquired Norcom Mortgage ’s retail assets to expand its operations in the Northeast. Duffy said this also helps demonstrate the need for the reverse mortgage product. And I was offered a wonderful opportunity at CMG.

Lending 374

Lending Mortgages Loans Land 374

Housing Wire

MARCH 12, 2024

Wells Fargo -backed mortgage fintech Maxwell rolled out a point-of-sale (POS) feature that offers tailored workflows and integrations. The Blueprint Builder features more than 60 third-party integrations, allowing lending teams to connect with other pieces of their workflow, from credit and verifications to pricing and disclosures.

Lending 372

Lending Technology Loans Equity 372

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

Banks 397

Banks Loan Officer Lending Loans 397

Realty Biz

AUGUST 17, 2022

Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers, especially those with lower credit scores. A buyer’s credit profile plays an important role in how much a home ultimately costs. home than they would have a year ago. home ($354,165).

Mortgages 85

Mortgages Fixed-rate mortgage Loans Banks 85

Housing Wire

MARCH 28, 2024

The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Credit standards for home-only applicants are much higher than for buyers seeking a mortgage, and this helps explain the high denial rates. Yet help might be on the way.

Title 426

Title Finance Lending Loans 426

Housing Wire

APRIL 18, 2024

Its mission statement included a desire to “champion groundbreaking research focused on reverse mortgages.” It continued to contribute data and academic information about the reverse mortgage product and its potential use as a retirement planning tool. “We

Equity 348

Equity Loan Officer Mortgages Industrial 348

Housing Wire

APRIL 18, 2024

Digital mortgage automation solutions provider Floify is partnering with Truv , a consumer-permissioned data platform, the company announced on Wednesday. The integration allows mortgage lenders to verify income and employment seamlessly as borrowers apply for a loan.

Banks 367

Banks Mortgages Loans Sales 367

Housing Wire

APRIL 8, 2021

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index rose.6% 4%, the MBA said.

Mortgages 512

Mortgages Loans Lending Marketing 512

Housing Wire

FEBRUARY 6, 2024

The survey showed that nearly 15% net share of banks reported having tightened standards on non-qualified-mortgage (QM) jumbo residential loans (14.6%) and QM jumbo loans (15.4%) in the fourth quarter. A 50%-plus net share of all U.S. The survey showed that a net 25.5% of banks reported weaker demand for HELOCs.

Residential 474

Residential Lending Banks Mortgages 474

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Often, traditional mortgage products don’t meet their needs.

Debt-to-income ratio 374

Debt-to-income ratio Mortgages Banks Investor 374

Housing Wire

NOVEMBER 21, 2023

This groundbreaking state-specific law mandates that landlords who own or operate such properties offer their tenants the option to have their rental payments reported to credit bureaus. Despite this financial commitment, traditionally, renters have not seen their timely payments contribute to their credit history.

Development 414

Development Mortgages Equity Loans 414

Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. mortgage rate at the end of August. “At You’re probably thinking, “Uh, why on earth would she do that?”

Mortgages 475

Mortgages FHA loan Equity Loans 475

Housing Wire

FEBRUARY 23, 2024

The gap between Black and white renter families that could afford a mortgage narrowed significantly during the COVID-19 pandemic, according to a Zillow report released Friday. of Black renter families earned enough income in 2022 to afford a mortgage with a 3% down payment, compared to 12.5% About 7.8% percentage points. About 13.3%

Mortgages 400

Mortgages Lending Equity 400

Housing Wire

APRIL 15, 2024

Caregiving challenges can be compounded if there’s only one child in the family, but a reverse mortgage could offer a solution, according to a column published by Reuters. Industry educators have long aimed to position a reverse mortgage as a financial planning tool for retirement. The beneficiaries can get more.

Mortgages 444

Mortgages Equity Loans As-is 444

Housing Wire

JANUARY 30, 2024

A growing number of nonbank mortgage lenders have recently rolled out down payment assistance (DPA) programs to increase their origination share in a challenging mortgage environment. Most recently, loanDepot rolled out a new DPA program for Federal Housing Administration borrowers that enables them to put no money down upfront.

Closing costs 491

Closing costs Mortgages Investor Loans 491

Housing Wire

APRIL 17, 2024

One planner solicited for input thinks that a reverse mortgage could be a worthy consideration, among other options, according to a new blog. “I I used to dislike reverse mortgages. A 2023 study published by Mutual of Omaha Mortgage suggested that misunderstandings about reverse mortgages remain rampant.

Mortgages 420

Mortgages Equity Loans As-is 420

Housing Wire

FEBRUARY 28, 2024

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. They will also be offered closing cost credits of up to 0.5% They will also be offered closing cost credits of up to 0.5%

Closing costs 402

Closing costs Loan Officer Closing Loans 402

Housing Wire

APRIL 25, 2024

Photo credit: AJ Canaria Reverse mortgages became an unexpectedly prominent topic during certain parts of The Gathering by HousingWire , held earlier this week in Scottsdale, Arizona. Reverse mortgages for purchase are taking up more conversation on the reverse side of the business recently.

Mortgages 272

Mortgages Finance Equity Lending 272

Housing Wire

NOVEMBER 14, 2023

The program was launched in the fall of 2022, and helps renters build their credit history and improve their credit score as they prepare to enter the housing market or find a new rental. “We Meanwhile, 79% recognize that having a higher credit score will provide them with greater financial opportunities.

Pre-approval 433

Pre-approval Loans Finance Mortgages 433

Housing Wire

JANUARY 24, 2024

Fannie Mae has announced updates to its HomeReady product, including a temporary $2,500 credit for very low-income purchase borrowers to use for down payment and closing costs. Lenders will provide the credit to the borrower and be reimbursed by Fannie Mae through the standard LLPA credit process. 1, 2024, to Feb.

Closing costs 475

Closing costs Loans Closing Mortgages 475

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? One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. What does tighter credit mean for housing?

VA loan 513

VA loan Loans Banks Mortgages 513

Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

Mortgages 369

Mortgages Banks Equity Land 369

Housing Wire

NOVEMBER 28, 2023

HousingWire recently spoke with Mike Darne, vice president of marketing at CreditXpert , about credit optimization and how taking a closer look at consumer credit can benefit borrowers. HousingWire: You have advocated for giving consumer credit another look. HW: As a data science company, you’ve been looking at consumer credit.

Bankruptcy 375

Bankruptcy Loans Mortgages As-is 375

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options.

Fixed-rate mortgage 396

Fixed-rate mortgage Loans Mortgages Loan Officer 396

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. Consider this: The average rate on a 30-year fixed mortgage remains above 7%, the highest it’s been in more than 20 years. But it’s not all grim news.

Equity 392

Equity Lending Banks Loans 392

Housing Wire

OCTOBER 31, 2023

1 reason a mortgage loan applicant is denied for a loan is a problem with their credit score. In good times when qualified mortgage borrowers are plentiful, most originators don’t give a suboptimal credit score a second glance. But that won’t happen if the originator sends the applicant to credit counseling.

Bankruptcy 367

Bankruptcy Loans Mortgages As-is 367

Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations. The rule, originally proposed in March 2023 , takes into consideration stakeholder comments.

Mortgages 430

Mortgages Title Loans Lending 430