Housing Wire

MAY 14, 2024

With the Fed 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.

FHA loan 292

FHA loan Loans Title Mortgages 292

HomeLight

JUNE 16, 2023

If you’re selling to a buyer backed by an FHA loan , your home must clear an FHA appraisal for the loan to close. The FHA appraisal determines a property’s market value and ensures that the property meets the U.S. Department of Housing and Urban Development’s (HUD) minimum property requirements.

FHA loan 90

FHA loan Loans Inspection Debt-to-income ratio 90

Housing Wire

FEBRUARY 27, 2024

of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. were FHA loans.

FHA loan 375

FHA loan Loan Officer Loans Staging 375

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.

FHA loan 107

FHA loan Loans Pre-approval Pre-qualification 107

HomeLight

AUGUST 31, 2021

Department of Housing and Urban Development (HUD) that offers first-time buyer support. The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. But FHA guidelines are a little more relaxed.

FHA loan 79

FHA loan Loans Debt-to-income ratio Banks 79

Housing Wire

JANUARY 19, 2024

6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. It also says it processes, underwrites and funds loans in-house. More than 50 mortgage loan officers were let go.

Mortgages 373

Mortgages FHA loan Loan Officer Loans 373

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

VA loan 434

VA loan Agents Seller concession FHA loan 434

Housing Wire

JANUARY 5, 2021

For example, some loans require as little as 3% down. . What type of loan: Conventional loan. Conventional loans aren’t insured by the government but are backed by private lenders. These loans are some of the most common because prospective homebuyers can put down as little as 3%. What type of loan: FHA loan.

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FHA loan VA loan Loans Mortgages 546

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. In fact, it was fairly common a few decades ago.

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FHA loan Mortgages Loan Officer VA loan 358

Housing Wire

JUNE 30, 2023

According to the company’s statement, “The relevant loans, some dating back 15 years, make up less than a half percent of our total federal loans originated during this time frame. Like its peers, Movement has the authority to originate and underwrite loans without first having the government review them.

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Loans Mortgages Land Development 363

Housing Wire

APRIL 11, 2023

The FHA announced a final rule last month that allows mortgagees to increase the maximum FHA-insured mortgage loan modification term from 360 months to 480 months following a default. You can go out and get a bigger house now because you have higher borrower power at 3% down because your loan term has increased to 40 years.”

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FHA loan Mortgages Loans Development 377

Housing Wire

APRIL 15, 2024

Louis that compares the median home price in Nevada at the time Biden took office ($342,995) to the figure as of January 2024 ($460,000), and illustrated increases in monthly payment obligations for Federal Housing Administration (FHA) borrowers. Utilizing a 3.5% at the market interest rate of 2.82%,” Gov. Lombardo said in his letter.

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FHA loan Land Principal Development 368

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. 55% and get rid of its life of loan premium policy.

FHA loan 334

FHA loan Loans Mortgages Banks 334

Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. The trade groups in tandem applauded the FHA for moving to align its loss mitigation policy with other housing agencies, including Fannie Mae and Freddie Mac.

Loans 412

Loans Industrial Mortgages Real-estate owned 412

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.

FHA loan 91

FHA loan Loans Inspection Renovation 91

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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FHA loan Mortgages Loans Principal 332

Housing Wire

JANUARY 8, 2024

With no appropriations, the Federal Housing Administration (FHA) would be unable to endorse new Home Equity Conversion Mortgage (HECM) loans for FHA insurance, though other FHA loans would still be eligible for endorsement.

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FHA loan Loans Equity Mortgages 312

Housing Wire

AUGUST 22, 2022

By product type, conventional loans composed 70.7% of loan applications, FHA loans composed 17.7%, RHS/USDA loans composed 0.2% and VA loans composed 11.4%. The average loan size of new homes decreased from $423,221 in June to $416,029 in July. Department of Housing and Urban Development.

VA loan 370

VA loan FHA loan New Construction Loans 370

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan 354

FHA loan Debt-to-income ratio Pre-approval VA loan 354

Housing Wire

MAY 19, 2022

Department of Housing and Urban Development. The average loan size rose to a new survey high of $436,576. Over half of the applications were for loan amounts greater than $400,000, the MBA said. Conventional loans accounted for 76.7% of loan applications. Conventional loans accounted for 76.7%

VA loan 418

VA loan FHA loan Construction Loans 418

Housing Wire

MAY 4, 2021

Consumers also reported long delays in having their loan modified so that they could resume payments on the mortgage. In other cases, consumers said servicers provided conflicting information about what options were available and the consumer’s eligibility for loan modification.

Mortgages 440

Mortgages FHA loan Loans Title 440

Housing Wire

NOVEMBER 21, 2022

Department of Housing and Urban Development , through the FHA, announced on Monday that the change will go into effect on December 21, 2022. The final rule was published in the Federal Register and in a companion mortgagee letter that provides implementation guidance for FHA-approved lenders. .

FHA loan 346

FHA loan Mortgages Loans Lending 346

Housing Wire

MARCH 12, 2024

Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Total loan volume projected for all MMI programs for 2025 is $237.9 It would remove the cap on the number of HECM loans that can be insured by FHA.

Mortgages 320

Mortgages FHA loan Loans Lending 320

Housing Wire

MAY 31, 2023

The Federal Housing Administration (FHA) submitted for public comment on Wednesday its proposal to create a new partial claim option, a result of its acknowledgment that its current loss mitigation toolkit isn’t enough to support struggling borrowers as rates surge. A partial claim is an interest-free loan from the U.S.

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FHA loan Loans Principal Mortgages 324

Housing Wire

FEBRUARY 25, 2022

The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development ’s Single Family Mortgage Asset Recovery Technology (SMART) system. I feel really good about where we are with FHA Catalyst,” she told HousingWire.

FHA loan 391

FHA loan Title Principal Development 391

Housing Wire

JUNE 17, 2021

Lack of inventory and sweltering home prices have become a market norm for much of the industry, and May’s loan size data reported the trend has yet to abate. According to the BAS, the average loan size rose from $377,434 in April to $384,000 in May ?the the fourth consecutive month of rising loan sizes and a new survey high.

Sales 490

Sales VA loan FHA loan Loans 490

Housing Wire

MARCH 17, 2022

Instead of increasing the upfront premium to minimize the impact on FHA borrowers, HUD took the unprecedented step of increasing the annual premium significantly and later adding the life-of-loan requirement. FHA’s recapture rate (i.e. The life-of-loan policy has always been at the heart of the debate about FHA premiums.

FHA loan 385

FHA loan Loans Finance Mortgages 385

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Industrial 498

Industrial Seller concession Purchase and sale agreement Agents 498

Housing Wire

AUGUST 3, 2023

Department of Housing and Urban Development (HUD) Marcia Fudge “fired up” the crowd during her keynote speech at the 2023 National Association of Real Estate Brokers (NAREB) Annual Conference when she spoke about the recently-announced HUD-NAREB partnership designed to tackle appraisal bias. Secretary of the U.S.

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FHA loan Finance Development Loans 290

Housing Wire

SEPTEMBER 27, 2022

The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. More than 240 positions were eliminated from the Iowa offices this year and an additional 75 employees will be laid off in October, according to the Iowa Workforce Development. .

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FHA loan Lending Banks Finance 330

Housing Wire

OCTOBER 19, 2022

Large IMBs with portfolio holdings or a non-qualified mortgage (non-QM) loan focus have more risk than smaller IMBs, concluded the CHLA’s latest report, which was issued Wednesday. IMBs’ highest priority is to reduce and align expenses with shrinking loan volume and reduced profit margins.

VA loan 352

VA loan FHA loan Fixed-rate mortgage Banks 352

Housing Wire

JANUARY 1, 2024

Biggest affordability developments of 2023 When asked what they see as the biggest developments on the housing affordability front, all three cited the paltry level of inventory “[The inventory issue] is made worse by today’s high interest rate market,” Broeksmit said. Let’s say I have more than 20 or 25% equity in my house.

Loans 409

Loans FHA loan Mortgages Equity 409

Housing Wire

MAY 13, 2021

Amid continued competition from borrowers, the average loan size of a new home reached its highest level in the survey’s history at $377,434. By loan type, conventional loans backed by Fannie Mae and Freddie Mac took the lion’s share at 72.9% of loan applications, followed by just 15.8% of FHA loans, 10.3%

Sales 426

Sales FHA loan Loans Construction 426

Housing Wire

NOVEMBER 30, 2023

DPAs can take various forms, such as grants, loans or second mortgages, and they are typically tailored to meet the specific needs of the target demographic. Loans: Second mortgages that are paid monthly along with your primary mortgage. With an FHA loan , borrowers can put down as little as 3.5% Many states in the U.S.

FHA loan 346

FHA loan Loans Equity Mortgages 346

Housing Wire

FEBRUARY 22, 2023

Housing and Urban Development (HUD) Secretary Marcia Fudge will make the official announcement with Vice President Kamala Harris Wednesday afternoon at Bowie State University in Maryland. “This will especially help minority homebuyers and low-and moderate-income households who are predominantly served by FHA loans.”

Industrial 450

Industrial Mortgages FHA loan Finance 450

Housing Wire

JUNE 8, 2022

Unlike large lenders, which often have their own proprietary systems, it’s often not financially feasible for smaller firms to develop their own software. Those services and systems are also used for regulatory, pricing, training and other critical functions — not just loan originating and servicing, the CHLA wrote.

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FHA loan Banks Loans Mortgages 326

Housing Wire

NOVEMBER 4, 2022

A similar announcement was made by former HUD Secretary Andrew Cuomo a week before the 2000 presidential election when FHA lowered the up-front premium and reduced the “life of loan” premium once a borrower reached 22% equity in the home. At least 137,000 of those borrowers have FHA-insured loans.

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FHA loan Loans Equity Mortgages 320