Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

Mortgages 388

Mortgages FHA loan Loan Officer Loans 388

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. By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% mortgage rate at the end of August. “At

Mortgages 471

Mortgages FHA loan Equity Loans 471

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

Loans 338

Loans FHA loan Principal Finance 338

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

FHA loan 338

FHA loan Loan Officer Loans Mortgages 338

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 441

VA loan Agents Seller concession FHA loan 441

Eye on Housing

AUGUST 3, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% Conventional loans financed 73.7%. in the second quarter of 2023. Read More ›

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FHA loan Loans Sales Finance 95

Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage. billion, did not have the required NFIP coverage.

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FHA loan Mortgages Loans Lending 355

Housing Wire

SEPTEMBER 27, 2022

Amid a decline in mortgage business, Wells Fargo last week notified Iowa state authorities of its plans to lay off 36 employees. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. As the U.S.

FHA loan 343

FHA loan Lending Banks Finance 343

Housing Wire

FEBRUARY 15, 2024

Garg expects that “a large percentage” of VA loan applicants through Better will also be able to qualify for the company’s One Day Mortgage program , which was launched a year ago and allows customers to apply for a mortgage, get preapproved, lock their rate and receive a commitment letter within 24 hours. billion in Q3 2022. “VA

VA loan 336

VA loan Loans Loan Officer FHA loan 336

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Loans 367

Loans Mortgages Loan Officer Pre-approval 367

Housing Wire

JUNE 28, 2023

It will be required for all FHA loan applications issued on or after August 28, 2023. Requiring the SCIF can inform a lender or mortgage servicer ’s provision of services in languages other than English and in accordance with a borrower’s understanding of the homebuying and mortgage lending processes,” the FHA said in an announcement.

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FHA loan Finance Mortgages Title 314

Housing Wire

MARCH 12, 2024

Financing options While the proportion of Latino buyers who used Federal Housing Administration ( FHA ) loans declined between 2018 and 2022, there may have been an uptick in 2023, according to NAHREP. Latinos have historically relied on low down payment mortgage options for home purchases.

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FHA loan Loans Finance Lending 443

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

MARCH 25, 2021

What it really comes down to is whether or not you feel comfortable paying a mortgage (and all the other fun expenses that come with having a home), while also paying off student loans. Here’s what to expect in the mortgage application process. 3 underrated mortgage products to consider. More for Real Estate Enthusiasts.

Debt-to-income ratio 493

Debt-to-income ratio Loans FHA loan Finance 493

Housing Wire

APRIL 17, 2023

has a Housing Finance Policy Center that does a significant amount of research and analysis on the housing market. First, the FHA program does more loans to minorities than any other agency or private label lending source — so much so that it dwarfs the GSEs, VA , and others. But who does the FHA loans today?

Marketing 366

Marketing FHA loan Banks Lending 366

Housing Wire

MAY 25, 2022

The most affordable manufactured homes are financed with private loans with higher interest rates, shorter terms and fewer consumer protections than mortgage loans. The homes financed by these loans come without land, like a car, and the homeowner typically rents the land beneath their home.

Finance 360

Finance FHA loan Loans Bankruptcy 360

HomeLight

AUGUST 31, 2021

The FHA doesn’t lend money itself. Instead, it insures mortgages made by lenders. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. But more than 80% of those FHA borrowers were first-time homebuyers.

FHA loan 84

FHA loan Loans Debt-to-income ratio Banks 84

Housing Wire

JUNE 12, 2023

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes.

Loans 399

Loans Mortgages Lending Marketing 399

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% of all mortgage originations. down payment.

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FHA loan Loans Pre-approval Pre-qualification 107

HomeLight

NOVEMBER 6, 2023

Skyrocketing mortgage interest rates can make homeownership seem like an elusive dream. For some home shoppers, there’s a potential solution: assumable mortgages. Assuming a mortgage allows you to step into the shoes of the seller and take over their loan, often at a lower interest rate. VA funding fee.

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FHA loan VA loan Mortgages Marketing 102

Housing Wire

NOVEMBER 17, 2021

Written by an independent third-party auditing firm, the study produces a net present value of the total FHA forward and reverse mortgage portfolios. Just look at HUD’s own data on FHA lending: 1. 84.61% of FHA loans are to first-time homebuyers. What is the capital reserve ratio?

Mortgages 387

Mortgages FHA loan Loans Equity 387

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

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Finance FHA loan Investor Loans 90

HomeLight

JUNE 9, 2023

Believe it or not, there are actually home sellers who offer to loan buyers the money to purchase their property: it’s called owner financing. Learn More What is owner financing? In some cases, this occurs because the buyer doesn’t want—or can’t qualify for—a traditional mortgage from a traditional lender.

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Finance Earnest money deposit Lending Loans 85

HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. How much house can you afford if you’re getting an FHA loan?

FHA loan 79

FHA loan Loans Debt-to-income ratio Closing costs 79

HomeLight

NOVEMBER 20, 2023

Finding an assumable mortgage is like a dual treasure hunt. As a buyer, you will not only be looking for the right home at the right price, but you’ll also be on an expedition to discover if the seller’s loan is assumable. There are typically fewer fees involved when you do an assumable mortgage rather than a new origination.

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FHA loan Mortgages VA loan Loans 93

Housing Wire

JUNE 22, 2023

Connecticut-based lender and servicer Planet Home Lending announced on Thursday a deal that boosts its servicing portfolio, which the company claims is already above the $90 billion mark. Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC.

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Closing Lending Loans Commercial 301

Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

Marketing 404

Marketing FHA loan Loans Mortgages 404

Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded We found an FHA-approved lender, and in no time, we were on our way to buying our first home with a government-backed loan. “Mortgage insurance?”

FHA loan 91

FHA loan Loans Inspection Renovation 91

Housing Wire

AUGUST 8, 2023

The California-based mortgage lender had its second consecutive double-digit revenue gain amid increasing origination volumes and margins. Changes in leadership came with the decision to consolidate LDI Digital, including mellohome, into its existing production channels, under the direction of LDI Mortgage President Jeff Walsh.

FHA loan 308

FHA loan Principal Lending Loans 308

Housing Wire

JUNE 21, 2022

Most financing to acquire a home in need of updating or repair is short-term and relatively expensive. Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. of all flipped homes in Q3 2021 went to FHA buyers.

Investor 392

Investor FHA loan Inspection Renovation 392

Housing Wire

FEBRUARY 7, 2022

Independent mortgage banks have been “completely blindsided” by the increase in enforcement activity, said Daniella Casseres, who leads the mortgage regulatory practice group at law firm Mitchell Sander. As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality.

Banks 340

Banks Lending Loans Mortgages 340

Housing Wire

DECEMBER 30, 2020

In October, the Conference of State Bank Supervisors made a controversial move to issue a final rule with proposed prudential standards for nonbank mortgage servicers – standards that, if enacted, have some stakeholders worried. What about mortgages that are not federally backed? This will be more effective and more efficient.

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FHA loan Lending Banks Loans 299

Housing Wire

DECEMBER 7, 2020

Quicken Loans Mortgage Services is proud to partner with a diverse set of brokers, which broadens the pool of potential clients they serve together. Presented by: Quicken Loans Mortgage Solutions. The typical agency financed nearly 3,000 loans that averaged about $7,200 in DPA, amounting to about 4.5%

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FHA loan Debt-to-income ratio Loans Equity 482

Housing Wire

MAY 17, 2022

Gordon already possessed a vast knowledge of the workings of the Federal Housing Administration , a complex agency within HUD, and the government’s premier mortgage financing product serving first-time homebuyers and borrowers of color. “I I always used to joke with her that she knew more about the program than I did,” Golding said.

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FHA loan Banks Industrial Mortgages 320

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

Loans 97

Loans Purchase and sale agreement VA loan Mortgages 97

HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. Why must there be so many lending companies, all of which have different requirements and terms? Everyone’s finances and circumstances are different.

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Debt-to-income ratio Mortgages FHA loan Loans 87

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available. Recent changes and technological advancements are shaping the lending landscape.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70