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%

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VA loan Agents Seller concession FHA loan 458

Housing Wire

NOVEMBER 22, 2023

Mortgage applications rose to their highest level in six weeks after the 30-year fixed mortgage rate fell to 7.44% last week. Total home loan applications increased 3% for the week ending Nov. 17 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). the previous week.

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VA loan FHA loan Mortgages Loans 466

Housing Wire

NOVEMBER 8, 2023

Mortgage applications picked up for the first time in four weeks as mortgage rates dropped by 25 basis points, to 7.61%. The Fed’s rate hike pause, combined with a softer October jobs report and the U.S Treasury’s issuance update, paved the way for rates to come down. For the week ending Nov.

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VA loan FHA loan Mortgages Loans 441

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. Typically, the fees are lower than those for new loans and no appraisal is needed. Raunaq Singh About $8.5

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VA loan Mortgages Loans Agents 441

Housing Wire

MARCH 29, 2022

Origination volume in the Veterans Affairs (VA) universe amounted to $388 billion in 2021, an analysis of Home Mortgage Disclosure Act (HMDA) data by Polygon Research application HMDAVision found. The top 10 VA lenders by volume in 2021: Freedom Mortgage Corp. Fairway Independent Mortgage , which originated $5.6

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VA loan FHA loan Loans Banks 370

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .

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Mortgages Loan Officer VA loan Lending 246

Real Trends

DECEMBER 14, 2022

For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. Vetted VA also moderates a Facebook group: Vetted VA for Professionals. said Griffith.

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VA loan Loans Lending Loan Officer 103

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. First, he has his clients lender call the listing agent. Somebody has a problem once and then that story just spread.

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VA loan Agents Pre-approval Debt-to-income ratio 397

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

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Housing Wire

NOVEMBER 16, 2020

When you get a mortgage, there are several options you can choose from, including FHA, VA, USDA, and conventional mortgages. But choosing the right mortgage product can be difficult — especially if you’ve never bought a home before. Are you confused about your mortgage options? Here are your choices: FHA mortgages.

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VA loan FHA loan Mortgages Loans 485

Housing Wire

SEPTEMBER 1, 2020

The Consumer Financial Protection Bureau issued a consent order against two companies on Tuesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. and Hypotec Inc., and Hypotec Inc., and Prime Choice Funding, Inc. ,

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VA loan Mortgages Loans Principal 485

Housing Wire

JUNE 26, 2023

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions during the first quarter of 2023, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September 2008. The serious delinquency rate also decreased to 0.6%

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VA loan FHA loan Fixed-rate mortgage Principal 370

Realty Biz

APRIL 24, 2021

A VA Loan Certificate of Eligibility is your proof of service, and it shows that you’re qualified to receive your VA loan benefits. You may be eligible for a VA mortgage if you have served or are currently serving in the military. What is the VA Loan Certificate of Eligibility?

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VA loan Loans Pre-qualification Loan Officer 109

Housing Wire

SEPTEMBER 4, 2020

The Consumer Financial Protection Bureau issued a consent order against mortgage broker and lender Accelerate Mortgage on Wednesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs.

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VA loan Loans Lending Mortgages 457

Housing Wire

MAY 25, 2022

Despite a decline in mortgage rates last week, mortgage application volume was down 1.2% The decline, as measured by the Mortgage Bankers Association ’s (MBA’s) Market Composite Index, continued to be led by a drop in the refinance share of mortgage activity, which has been consistent for more than two months. .

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Fixed-rate mortgage Mortgages VA loan Loans 432

Housing Wire

JUNE 1, 2022

Mortgage apps dropped 2.3% for the week ending May 27, decreasing to the lowest level since December 2018, as measured by the Mortgage Bankers Association ’s (MBA) Market Composite Index. Refinance share of the mortgage activity declined to 31.5% the prior week, and the VA loan share dropped to 10.2% from 11.3%

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Fixed-rate mortgage Mortgages VA loan Loans 432

Realty Biz

SEPTEMBER 24, 2022

Military borrowers looking to buy or refinance a home might want to consider a VA loan. Department of Veterans Affairs (VA), this loan option can make buying a home easier for those who might otherwise struggle to afford a mortgage. What Is a VA Loan? Benefits of a VA Loan.

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VA loan Loans FHA loan Mortgages 66

Housing Wire

OCTOBER 2, 2020

After six weeks of steady declines, the number of mortgages in active forbearance rose by 21,000 last week, according to a new report. Though the raw number increased, the number of all mortgages in active forbearance remained at 6.8%, unchanged from the week prior , Black Knight said in a report on Friday. As of Sept. from 11.1%.

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Loans VA loan Principal Mortgages 496

Housing Wire

MARCH 3, 2022

The Department of Veterans Affairs is giving borrowers impacted by the pandemic an additional fifteen months to get loan payment relief. A VA spokesperson said in a statement that the department remains committed to assisting veterans who experience financial hardship. Presented by: ACES. Meanwhile, as of Jan.

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VA loan Pre-approval Principal Loans 370

Housing Wire

JUNE 8, 2022

Mortgage application volume for the week ending June 3 dropped 6.5%, sliding to the lowest level in 22 years, driven by weakness in purchase and refinance applications. “The 30-year fixed rate increased to 5.4% The refinance share of mortgage activity rose to 32.2% The post Mortgage apps decline 6.5% from 10.8%

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Fixed-rate mortgage Mortgages VA loan Loans 397

Housing Wire

MAY 4, 2022

Individuals across the country chasing the American dream of homeownership helped to push mortgage-application volume up by 2.5% from the prior week, fueled by increased conventional, Federal Housing Administration (FHA) and Veterans Affairs (VA) loan-application volume. The seasonally adjusted purchase index rose 4.1%

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Fixed-rate mortgage Mortgages VA loan Loans 370

Housing Wire

JULY 12, 2022

In a few months, the loss mitigation measures that have kept close to 100,000 veterans from foreclosure during COVID-19 will end. Decisions of policymakers at the Department of Veterans Affairs will determine what happens to those borrowers. The VA also faces challenges unrelated to the pandemic. How is the VA addressing this?

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VA loan Loans Industrial As-is 370

Realty Biz

FEBRUARY 24, 2024

The journey to homeownership is a significant milestone for veterans, and the U.S. Department of Veterans Affairs (VA) plays a crucial role in making this dream a reality. Insights into VA Home Loans: Before we dive into the specifics of VA Jumbo Loans and VA Construction Loans, let's recap the fundamentals of VA home loans.

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Loans Construction VA loan Finance 103

Housing Wire

MAY 3, 2023

30-year fixed mortgage rates declined slightly last week, the first rate drop in three weeks, but it wasn’t enough to boost mortgage demand. Mortgage applications fell last week by 1.2% The 30-year fixed rate decreased five basis points to 6.5% last week from 12.6% the week prior. from 11.2%

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Mortgages Fixed-rate mortgage Banks Lending 397

HomeLight

DECEMBER 12, 2023

Whether planned or unexpected, life changes may have you pondering, “Can you transfer a mortgage to another person?” ” It’s a relevant question, especially in times when mortgage interest rates and home prices are high. Get Started What does it mean to transfer a mortgage?

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VA loan FHA loan Mortgages Loans 111

HomeLight

DECEMBER 12, 2023

In today’s high-interest mortgage landscape, the idea of assuming a mortgage from a family member can be an appealing path to home ownership. This guide breaks down what it means to step into a family member’s mortgage shoes and purchase their home. Get Started What does it mean to assume a mortgage?

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VA loan Mortgages Purchase and sale agreement FHA loan 108

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8%

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Mortgages Fixed-rate mortgage Marketing Loans 384

Housing Wire

MAY 15, 2023

mortgage market faced a new “ refinance boom” when mortgage rates declined by nearly 200 basis points between November 2018 and November 2020, following the Federal Reserve rate cuts that were made to remedy the economic impacts of the Covid-19 pandemic. When broken down by investor type, 38% of U.S.

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Equity Loans Mortgages Banks 384

Housing Wire

SEPTEMBER 23, 2020

The 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act introduced new loan forbearance requirements, with some guidelines issued subsequently by various agencies. They must do all that, while also remaining compliant in handling, notifying borrowers of options or modifying the loan. Technology companies step up.

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Loans VA loan Lending Technology 370

HomeLight

APRIL 30, 2024

When you’re considering buying a home, one option might be to assume the seller’s mortgage instead of obtaining a new loan. This post provides expert insights into the tax implications of assuming a mortgage. What does it mean to assume a mortgage? Are all mortgage loans assumable?

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Purchase and sale agreement Mortgages VA loan Loans 77

HomeLight

NOVEMBER 29, 2023

In today’s high-interest-rate market, finding affordable ways to buy a home is more challenging than ever. If you’re exploring options to make homeownership a reality, assuming a mortgage might be your key to unlocking the door to your dream home. But how do you assume a mortgage? The key advantage?

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Mortgages VA loan FHA loan Loans 100

HomeLight

DECEMBER 5, 2023

In today’s high-interest-rate environment, finding an affordable path to homeownership can feel like walking a financial tightrope. If you’re balancing your options, you might be asking, “Are all mortgages assumable?” Get Started What is an assumable mortgage? Are all mortgages assumable?

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FHA loan VA loan Mortgages Loans 105

Housing Wire

SEPTEMBER 30, 2020

United Wholesale Mortgage (UWM) announced on Wednesday that it would offer a 50 bps discount on all VA interest rate reduction refinance loans (IRRRL) through Veterans Day on Nov. billion valuation later this year, said the new rate is effective on all locks between Wednesday, Sept. 30 and Veterans Day.

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Loans Mortgages Closing As-is 370

Lab Coat Agents

FEBRUARY 7, 2023

Are you in the market to buy your first home? Tips When Buying A Home For The First Time Location is vital: You’ll want to pick a neighborhood that you feel comfortable with and is in a good location. Have realistic expectations: Remember that your first home might not be your forever home. Finally, don’t be afraid to negotiate.

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FHA loan VA loan Pre-approval Fixed-rate mortgage 96

Housing Wire

JANUARY 3, 2023

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.

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VA loan Loans Due diligence HR 79

Marco Santarelli

APRIL 20, 2024

This Mortgage Market Update explores rising rates, potential risks, & why the outlook might still be positive. Interest rates remained elevated compared to historical norms, but there were signs of both resilience and potential trouble on the horizon. In fact, overall mortgage applications witnessed a 3.9% in Q4 2023.

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Mortgages VA loan Marketing FHA loan 52

Realtor.com

NOVEMBER 10, 2022

The Federal Reserve’s latest interest rate hike of 0.75% is expected to push up mortgage rates that had already reached a 20-year high, putting further pressure on a stressed market. Consider offering an interest rate buydown. An interest rate buydown is typically negotiated between a buyer and the buyer’s lender.

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VA loan Loans Land Mortgages 106