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How the PLS market is making money on delinquent loans 

Housing Wire

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

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Could the assumable mortgage level the playing field?

Housing Wire

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. CMS is going heavy on a rarely used mortgage product to solve this market problem. 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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Nevada governor urges Biden to act on affordable housing

Housing Wire

A particularly acute concern to Nevadans is the housing market, which is reeling from the combined effects of high inflation and interest rates,” Lombardo said in the letter dated April 11. down payment through a [FHA] loan (principal/interest only) in January 2021, the monthly payment on a median home would have been $1,363.00

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

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%

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Rate buydowns are the cat’s meow in today’s market

Housing Wire

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. percentage points of the loan amount,” Nunziata said. The second year you’re going to save $250 a month as opposed to $60.

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FHFA rescinds controversial DTI LLPA

Housing Wire

” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. That’s the entire mortgage industry shouting, “hip, hip hooray!” ”

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What’s My Home Shopping Budget with an FHA Loan? How to Figure it Out

HomeLight

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?