Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans.

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FHA loan Loans Lending Finance 493

Housing Wire

SEPTEMBER 29, 2020

You’ve probably staffed up on loan officers equipped to handle this influx, and you may be shunning riskier, less immediately gratifying business. Certainly, devote resources to expanding your refi capacity, but also devote smaller teams to tougher loan types — first-time homebuyers, for example.

Lending 459

Lending Loan Officer Branding Loans 459

Housing Wire

JUNE 11, 2024

In practice, the direct endorsement authority allows lenders to underwrite single-family mortgages and submit them to FHA for insurance endorsement. Open Mortgage’s termination is based on the “poor performance” of these loans, HUD stated. Cases in the early stages may be transferred to other lenders with an FHA approval.

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FHA loan Mortgages Loan Officer Loans 476

Housing Wire

DECEMBER 3, 2023

Mortgage originations Purchase lending dominated the market overall, driving 86% of all first-lien lending in the third quarter. Mortgage originations Purchase lending dominated the market overall, driving 86% of all first-lien lending in the third quarter. for FHA loans and 44.5% for VA loans.

Equity 468

Equity VA loan FHA loan Mortgages 468

Housing Wire

MARCH 25, 2021

Do I need to pay off my student loans before buying my first home? 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. For example, a conventional loan lets you put as little as 3% down.

Debt-to-income ratio 511

Debt-to-income ratio Loans FHA loan Finance 511

Housing Wire

OCTOBER 9, 2024

“Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” MBA data showed that government lending continues to represent a steady share of the mortgage market. of new applications.

VA loan 458

VA loan Mortgages FHA loan Loans 458

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. Indeed, one West Coast LO told HousingWire that he quoted a borrower a 5.75% rate on a 30-year FHA loan for a $500,000 Southern California home purchase.

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Mortgages FHA loan Loans Loan Officer 514

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

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FHA loan Loan Officer Loans Mortgages 370

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. The product, known as an assumable mortgage, is not new.

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FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

SEPTEMBER 27, 2022

” The latest layoff announcement from the country’s second-largest lender comes amid faltering home lending business. Home lending revenue dropped to $972 million in the second quarter, a sequential drop from the previous quarter’s $1.5 billion in revenue from home lending. As the U.S.

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FHA loan Lending Banks Finance 397

Housing Wire

APRIL 10, 2023

After four years of Congress hiking Veterans Administration (VA) so-called “Bluewater Navy” mortgage loan fees as an offset to pay for other critical veterans’ benefits, Congress has finally let those excessive VA mortgage loan fees expire. Mortgage loan fees should not be higher than needed to safely run government-backed lending.

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Loans FHA loan Mortgages VA loan 418

Housing Wire

SEPTEMBER 21, 2021

Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said. The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process. Learn more here! Presented by: iEmergent.

FHA loan 476

FHA loan Lending Equity Technology 476

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 448

Loans FHA loan Principal Finance 448

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. LOs are only human — Tech is necessary to keep up with max loan volumes. It did not admit to any wrongdoing.

Mortgages 505

Mortgages FHA loan Lending Loans 505

Housing Wire

MARCH 11, 2024

Although lock counts were down on a year-over-year basis, the rate of decline is decelerating and suggests we may be nearing a floor for purchase lending in the current rate environment.” The index for Federal Housing Administration (FHA) loans rose 28 bps to 6.66%, while the U.S.

VA loan 476

VA loan FHA loan Loans Lending 476

Housing Wire

APRIL 10, 2023

The disproportionate surge in purchase lending pushed the refi share of the market mix down to a current cycle low of just 13%. That, combined with a recent reduction in FHA mortgage insurance premiums and a mid-month increase in the FHA-to-conforming spread, made FHA loans comparatively more attractive,” Walden said.

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FHA loan Marketing Lending Mortgages 397

Housing Wire

OCTOBER 16, 2024

The locations of households that have received FHA-backed mortgages have been studied far less, HUD explained. If federal homeownership assistance programs follow national trends, we would expect FHA loans to be associated with whiter and lower-poverty census tracts.”

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FHA loan Equity Loans Mortgages 488

Housing Wire

JUNE 5, 2023

Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. “We should see more purchase activity from existing homeowners once rates and/or home prices come down a bit.

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Loan Officer Loans Mortgages FHA loan 397

Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. Bottom Line.

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VA loan FHA loan Mortgages Lending 323

Housing Wire

DECEMBER 30, 2020

Given that the FHFA already has significant experience overseeing the mortgage market through its regulation of Fannie Mae, Freddie Mac and the Federal Home Loan Banks , it would be the natural regulator for nonbank servicers. This provision is clearly problematic for GSE loans, but it will be even more of an issue for government loans.

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FHA loan Lending Banks Loans 450

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 482

Housing Wire

MARCH 12, 2024

In other cases, family members or friends agreed to serve as a co-signer for a buyer with the intention of coming off the loan at some point in the future. “In As recently as 2018, about 31% of Hispanic home purchase originations were done through FHA, almost twice the rate of the general population. And the 49.5% About 29.5%

FHA loan 482

FHA loan Loans Finance Lending 482

Housing Wire

JANUARY 19, 2024

More than 50 mortgage loan officers were let go. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A. Representatives at the company did not immediately reply to a request for comments. Steve Rose is the lender’s president, per the company’s website.

Mortgages 482

Mortgages FHA loan Loan Officer Loans 482

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. Better’s rate for VA loans was 6.375% as of Tuesday afternoon, the company said. Conventional loans account for 95% of Better’s portfolio, with the remaining 5% tied to other products such as jumbo loans. Eligible U.S. billion in Q3 2022.

VA loan 435

VA loan Loans Loan Officer FHA loan 435

Housing Wire

OCTOBER 11, 2024

This trend, the company reported, is likely tied to a greater number of loan programs for foreign nationals who have Individual Tax Identification Numbers (ITIN) rather than Social Security numbers. Lending volumes remained relatively steady over the past year, which the firm tied to “continued high interest rates.”

Mortgages 516

Mortgages Sales Loans Lending 516

Housing Wire

APRIL 17, 2023

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? One must ask, why are the IMBs so effective with Ginnie Mae lending?

Marketing 397

Marketing FHA loan Banks Lending 397

Housing Wire

APRIL 4, 2022

The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

JUNE 28, 2023

The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2023-13 this week, which requires the use of a form that allows borrowers to voluntarily state their language preferences and provide information on any housing counseling and homeownership education they received.

FHA loan 370

FHA loan Finance Title Mortgages 370

Housing Wire

JUNE 21, 2022

Data from John Burns Real Estate Consulting shows that student loan debt has increased 100% since 2007, keeping many renters in place. Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. Think about it this way. were built before 1980.

Investor 435

Investor FHA loan Inspection Renovation 435

Housing Wire

MARCH 12, 2024

The budget also requests $400 billion in loan guarantee commitment limitation for the Mutual Mortgage Insurance (MMI) Fund through September 2026, which is “sufficient authority for insurance of all single family forward mortgages and HECMs,” the document reads. Total loan volume projected for all MMI programs for 2025 is $237.9

Mortgages 458

Mortgages FHA loan Loans Lending 458

Housing Wire

AUGUST 16, 2023

HousingWire: 2023 has been rough for mortgage lending with mortgage applications down around 60%, what is CreditXpert seeing from a demand side when it comes to credit inquiries? Mike Darne: We are also seeing a major dip in mortgage credit inquiries, but it is less pronounced than what the industry is seeing in terms of applications.

FHA loan 370

FHA loan Lending Mortgages Loans 370

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The fate of Wells Fargo & Co. ’s market share and a $616.7

Mortgages 370

Mortgages Lending Loans Banks 370

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. Mortgage applications dropped 5.2% Mortgage rates moved slightly higher last week, with the 30-year conforming rate reaching 7.07 the previous week.

VA loan 480

VA loan Mortgages Fixed-rate mortgage Loans 480

Housing Wire

AUGUST 8, 2023

While we continue the work of resetting our cost structure to align with generationally low unit volumes, we are also focused on the other pillars of Vision 2025, including capturing opportunities inherent in our strategy to expand purpose-driven lending that supports first-time homebuyers and diverse communities,” Martell said. million. .”

FHA loan 370

FHA loan Principal Lending Loans 370

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. First, we must define what we mean by recession. Our general economy is not yet in a recession, but housing has been in one since the summer. Sales fall. Housing demand has fallen noticeably this year.

Marketing 546

Marketing Bankruptcy Sales FHA loan 546

Housing Wire

JANUARY 31, 2023

The decision left more than 400 employees without a job, and Miller had two urgent tasks — to find a lender that would close his clients’ loans in the pipeline and would also help him close more sales in an industry that is projected to further downsize. “I It also underwrites conventional loans and works as a marketing tool for LOs.

Loans 418

Loans Mortgages Loan Officer Pre-approval 418

Keeping Current Matters

DECEMBER 7, 2021

The ability to qualify for a mortgage at the current lending standards. The FHFA (which handles mortgages by Freddie Mac , Fannie Mae , and the Federal Housing Administration ) is raising its loan limit for prospective purchasers in 2022. What Is the Difference Between a Conforming Loan and a Non-Conforming Loan?

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FHA loan Loans Lending Equity 306