Rochester Real Estate

NOVEMBER 5, 2015

It’s unfortunate, but not every prospective buyer is going to be able to qualify for a home loan. In the simplest terms the main difference is that a bank has its own lending criteria and offers loans by using its own funds. Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back!

Finance

Rochester Real Estate

NOVEMBER 5, 2015

Lenders originated stated income loans and those unsafe mortgages were packaged together and sold as highly rated investments. If you are self-employed and you write it off, it reduces the income used to qualify for a loan. A few lenders developed a program called bank statement loans. Everyone has a mobile phone right?

Mortgages

The Mortgage Report

JUNE 12, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? How Soon Can I Refinance?

FHA 203k rehab loan

The Mortgage Report

JULY 22, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? How Soon Can I Refinance?

FHA 203k rehab loan

Housing Wire

MAY 13, 2025

The Mortgage Bankers Association (MBA) submitted a formal request to the White House Office of Management and Budget (OMB) on Monday, asking for the rescission of six rules and revisions to nine others that affect the mortgage industry. The letter is a response to a request by the OMB for comments about deregulatory efforts.

Mortgages

Housing Wire

OCTOBER 9, 2024

Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral – and also offers a warranty on income calculations and cleared conditions for funded FHA loans.

FHA loan

Housing Wire

DECEMBER 2, 2020

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. on FHA loans, the company announced in a statement on Wednesday. The Conquest FHA announcement is the latest in a series of UWM product launches in 2020.

FHA loan

Housing Wire

SEPTEMBER 14, 2023

FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation. Department of Housing and Urban Development ( HUD ) called FHA Connection, a database used to insure and generate FHA case numbers associated with the borrower’s home loan application.

Loan Officer

Housing Wire

JUNE 5, 2023

Providing presentations on whether to opt for a conventional loan, Federal Housing Administration (FHA) loan, Fannie Mae ’s HomeReady or Freddie Mac ’s HomePossible loans while winning over contracts in a multiple bid environment are key to creating client stickiness, Lotsoff added.

Loan Officer

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

Loans

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Loans

Housing Wire

DECEMBER 18, 2020

Conventional loans. A conventional loan is a smart way to finance an income-earning property. The differences between FHA, VA, and USDA mortgages. If you plan to use the property as an investment (you’ll have to indicate so on your loan application), then you could face more stringent qualifying requirements.

FHA loan

Housing Wire

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Mortgage insurance is required on all FHA loans, and it’s sometimes required on conventional mortgages, too. For many borrowers, this insurance will be required for the entire loan term.

FHA loan

Housing Wire

MAY 25, 2021

Mortgages would be subject to FHA loan limits. The benefit is modeled on the widely used home loan program for veterans, which is administered by the Department of Veterans Affairs. The benefit is modeled on the widely used home loan program for veterans, which is administered by the Department of Veterans Affairs.

FHA loan

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.

FHA loan

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

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.

FHA loan

Housing Wire

NOVEMBER 16, 2020

Here are your choices: FHA mortgages. FHA mortgages are insured by the Federal Housing Administration. They allow for lower credit scores than most other loans. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment.

VA loan

Housing Wire

AUGUST 14, 2024

As you talk to more people across all aspects of our business, from the loan officers to the consumer to real estate agents, everybody is eagerly excited for what’s coming,” Sheinin said. The recent declines in mortgage rates have been good news for mortgage professionals and consumers alike. After mortgage rates peaked above 7.5%

Mortgages

Housing Wire

JANUARY 19, 2024

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. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A.

Mortgages

Housing Wire

MARCH 24, 2022

The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday by the Mortgage Bankers Association. Conventional loans’ national median mortgage payment went from $1,582 in January to $1,749 in February.

FHA loan

Housing Wire

OCTOBER 25, 2023

The average of preapproved borrowers per loan officer fell by 11.6% Conventional loans remained the most popular loan type for preapproved borrowers, with its share at 75% in Q3, up from 71% in Q2. FHA loan preapproval shares fell to 19% compared to 22% in Q2.

FHA loan

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

Housing Wire

DECEMBER 27, 2022

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Those forces are now shaking the timbers of the federal loan-guarantee program. .

FHA loan

Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. The DPA share in FHA’s total book of business, including refinances, was 27% as of October 2023.

FHA loan

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. Fixed rates through the Federal Housing Administration (FHA) were at 6.10% and those through the U.S. Department of Veterans Affairs averaged 6.12%.

Mortgages

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

Housing Wire

SEPTEMBER 6, 2024

Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire. Department of Veterans Affairs (VA) loan with no points or buydowns. That did not happen. Since the 10-year U.S

Mortgages

Housing Wire

NOVEMBER 3, 2021

Jumbo loans had the best performance, up 36.9% FHA loans increased at a slower pace: 15.8%. ” Another report published this week from SimpleNexus showed that loan officer commissions declined 17% year-over-year in the third quarter, largely because of waning refi volume. trillion in the third quarter.

Mortgages

Housing Wire

MAY 26, 2021

Joe Tyrrell, ICE president, said the recent findings align with the company’s 2020 Borrower and Lender Insights Survey, which noted that digital mortgage technologies are making closing a mortgage loan “faster and easier.” Purchase mortgages on average took 49 days to close in April.

Closing

Housing Wire

OCTOBER 27, 2020

Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means. FHA loans require just a 500 credit score, as long as you can make a 10% down payment, while VA loans have no credit score requirement whatsoever. Myth 3: You don’t have credit at all.

Debt-to-income ratio

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

Housing Wire

MARCH 14, 2024

Lisa Moriello “Any loan officer can run a report in their own database to calculate when someone’s date of birth hits that prime age [for a reverse mortgage],” Moriello said. 1, the limit for HECM loans was increased to $1,149,825 by the Federal Housing Administration (FHA). 2024 HECM limit On Jan.

Mortgages

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

Housing Wire

SEPTEMBER 22, 2023

With the majority of Fed officials expecting another rate hike by year-end, Duncan predicts a 50/50 chance of that happening, depending on how resilient the economy is against the Fed’s monetary policy. However, a silver lining in the subdued housing market is the strength in new-home sales. We don’t know what third-quarter growth was.

FHA loan

Housing Wire

MARCH 11, 2022

Because Fairway gets most of its reverse mortgage business from referral partnerships, extending to the purchase market made sense for Fairway because of the partnerships that its loan officer corps has spent so much time developing, according to Hultquist. Harlan Accola. And so, they know the local real estate agents. Dan Hultquist.

FHA loan

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