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 454

Mortgages FHA loan Loan Officer Loans 454

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 406

VA loan Loans Loan Officer FHA loan 406

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 446

FHA loan Loans Closing costs Loan Officer 446

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 427

FHA loan Marketing Loan Officer Loans 427

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 417

Mortgages Loan Officer FHA loan Equity 417

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 VA loan 370

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 462

FHA loan Hard money loan Loans Finance 462

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 437

FHA loan Mortgages Loan Officer Loans 437

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 469

FHA loan VA loan Loans Loan Officer 469

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 454

VA loan Agents Seller concession FHA loan 454

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 475

FHA loan Loans Mortgages Equity 475

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 509

FHA loan Fixed-rate mortgage Loan Officer Principal 509

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 481

VA loan FHA loan Mortgages Loans 481

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 446

FHA loan Bankruptcy Marketing Loans 446

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 395

Mortgages FHA loan Loan Officer Loans 395

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 370

FHA loan Due diligence Loan Officer Loans 370

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

Industrial 501

Industrial Seller concession Purchase and sale agreement Agents 501

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 446

Closing Mortgages VA loan FHA loan 446

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 413

Debt-to-income ratio VA loan FHA loan Loan Officer 413

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 427

Lending Loan Officer Branding Loans 427

Real Trends

NOVEMBER 11, 2022

FHA loans aim to make homeownership possible for borrowers with less-than-perfect credit and without a large down payment requirement. FHA loans aim to make homeownership possible for borrowers with less-than-perfect credit and without a large down payment requirement. USDA loans. Piggyback loans.

Finance 106

Finance VA loan FHA loan Agents 106

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 427

Loans FHA loan Mortgages Loan Officer 427

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

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 436

FHA loan Mortgages Loan Officer Loans 436

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. Every time a bank provides somebody with a loan, the bank’s essentially investing in that person.”. All the major loan programs accept much lower minimum down payments, with a few even offering zero-down loans.

FHA loan 98

FHA loan VA loan Loans Loan Officer 98

Realtor.com

DECEMBER 20, 2021

“The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , for an FHA loan. So $3,000 would be enough for an approximately $85,000 loan, although that’s way below today’s median home price of $300,000.”

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

Realtor.com

FEBRUARY 3, 2021

A micromortgage is a loan for $100,000 or less, and homes at this price point are still abundant in some markets—including Louisville, KY, and southern Indiana, where the program is getting started. Read on to learn about who qualifies, and how micromortgages differ from other types of loans. What exactly is a micromortgage?

Loans 111

Loans FHA loan Finance Loan Officer 111

Realtor.com

FEBRUARY 3, 2021

A micromortgage is a loan for $100,000 or less, and homes at this price point are still abundant in some markets—including Louisville, KY, and southern Indiana, where the program is getting started. Read on to learn about who qualifies, and how micromortgages differ from other types of loans. What exactly is a micromortgage?

Loans 98

Loans FHA loan Finance Loan Officer 98

HomeLight

OCTOBER 15, 2020

We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? A conventional loan is a private mortgage that’s not backed by the federal government (we’ll get to government loans in a bit).

Loans 95

Loans FHA loan Debt-to-income ratio VA loan 95

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 80

FHA loan Loans Debt-to-income ratio Closing costs 80

C4D Crew

JANUARY 13, 2022

This article will break down the home buying process from loan to close. . Make sure to include everything in your estimate, including groceries and student loans. Most loans require at least a 3.5% If you’re a veteran who qualifies for a VA loan, you might not have to put any money down at all. . Income statements.

Loans 52

Loans Closing Pre-approval VA loan 52

HomeLight

AUGUST 31, 2021

The Federal Housing Administration (also known as the FHA) is an agency of the U.S. The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. Instead, it insures mortgages made by lenders.

FHA loan 85

FHA loan Loans Debt-to-income ratio Banks 85

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 395

Loans Mortgages Loan Officer Pre-approval 395

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer. – Gary Giffin | Redfin Partner Agent, AARE 2.

Pre-approval 59

Pre-approval Agents Pre-qualification Debt-to-income ratio 59

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Note that for government-backed first-time home-buyer loans such as FHA or USDA, it’s not just the buyer that must qualify, but the home, too — so check the requirements for your specific mortgage.

Loans 97

Loans VA loan FHA loan Purchase and sale agreement 97

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. Looking for a way to snag a home at a steal of a deal? Source: (Jeremy Yap / Unsplash). What is HUD?

Pre-approval 95

Pre-approval Pre-qualification FHA loan Inspection 95

Realtor.com

APRIL 2, 2021

Ferrara/Newsday RM via Getty Images The mortgage market is humming, but getting approved for a home loan is as difficult as it has been in years. A segment of borrowers who would have qualified for a home loan early last year are now out of luck, deemed too much of a credit risk.

Mortgages 60

Mortgages Marketing Lending Loans 60