Housing Wire

SEPTEMBER 17, 2024

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates. This is a disturbing trend among VA lenders.

Lending 435

Lending VA loan Loans Mortgages 435

Housing Wire

FEBRUARY 28, 2023

Virginia-based mortgage bank Prosperity Home Mortgage, LLC has acquired the assets of Arizona-based JFQ Lending, LLC to explore the direct-to-consumer channel. The company has 548 active loan officers and 379 branches, per the Modex data. The company originated $816 million over the last 12 months, according to Modex.

Lending 397

Lending VA loan Loan Officer Loans 397

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. Who is eligible?

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

SEPTEMBER 23, 2024

California -based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Department of Veterans Affairs (VA) space. loanDepot executive vice president John Bianchi said the hiring reinforces the company’s commitment to VA lending.

VA loan 448

VA loan Lending Loans Loan Officer 448

Housing Wire

SEPTEMBER 1, 2020

According to the CFPB, Service 1st Mortgage and Hypotec advertised specific credit terms, such as interest rates, APRs, and hypothetical payment amounts that they wer not prepared to offer, or that they could only offer for an introductory period but advertised as if they were permanent loan terms. 26, the CFPB settled with PHLoans , Inc.,

VA loan 501

VA loan Mortgages Loans Lending 501

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

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

VA loan 478

VA loan Mortgages Fixed-rate mortgage Loans 478

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 397

Lending Industrial Mortgages Loans 397

Housing Wire

MARCH 29, 2022

Chasing down missing pages can require several days of back-and-forth correspondence between processors and borrowers, extending loan cycle times and frustrating borrowers. Consider, for instance, the multitude of scenarios that require lenders to take another look at assets between loan qualification and loan closing.

Lending 370

Lending Earnest money deposit VA loan Loans 370

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. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

VA loan 418

VA loan Agents Pre-approval Debt-to-income ratio 418

Housing Wire

JUNE 17, 2024

Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Since January 2023, the bank has changed its strategy in home lending to focus on bank customers and minority homebuyers through its retail mortgage teams. Wells Fargo, which was among the top 25 U.S. Expanding the availability of the Dream.

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Closing costs Closing VA loan Banks 482

Housing Wire

JANUARY 3, 2023

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. That said, modernization is a good thing as well and should never be feared.

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VA loan Loans HR Due diligence 83

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 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

SEPTEMBER 4, 2020

and Hypotec Inc for advertisements with specific credit terms, such as interest rates, APRs, and hypothetical payment amounts that they were not prepared to offer, or that they could only offer for an introductory period but advertised as if they were permanent loan terms. and on July 24 against Sovereign Lending Group, Inc.,

VA loan 480

VA loan Loans Lending Mortgages 480

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

MAY 2, 2024

7 loan officer in the country last year with a mortgage production volume of $326.5 His portfolio is concentrated on purchase loans (98% of the total volume in 2023) for first-time homebuyers. Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said.

Loan Officer 448

Loan Officer Mortgages VA loan Lending 448

Housing Wire

JUNE 13, 2024

This was especially true for the Federal Housing Administration (FHA) lending segment. Conventional loans comprised 63.4% Department of Veterans Affairs (VA) loans accounting for 9.8% Department of Agriculture (USDA) loans at 0.3%. New-home purchase mortgage applications rose 1% month over month and 13.8%

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

FEBRUARY 10, 2025

Two key factors contribute to this disparity: a lack of knowledge about the VA benefits to which they are entitled, and a limited understanding among sellers and lenders of the strong buyer profile of VA loan borrowers. Its important to take a moment to look back at the history behind VA benefits. In 1944, the U.S.

Industrial 203

Industrial VA loan Lending Loans 203

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Can you connect those dots for me? Ed Gerding: Sure.

Lending 446

Lending VA loan Banks Investor 446

Housing Wire

MARCH 5, 2024

Typically, the fees are lower than those for new loans and no appraisal is needed. Department of Veterans Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to The Wall Street Journal. trillion in FHA and VA loans. To begin with, assumptions are limited to FHA, VA and U.S.

VA loan 468

VA loan Mortgages Loans Agents 468

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.” Meanwhile, conforming loans maintained a steady share of 57%, with slight decreases in the FHA and VA loan shares.

VA loan 476

VA loan FHA loan Loans Lending 476

Housing Wire

MAY 10, 2024

Department of Veterans Affairs (VA) are the most common types of loans that can be assumed. Typically, the fees are lower than those for new loans and no appraisal is needed. million loans, or 23% of active mortgages, are eligible for assumption, according to Intercontinental Exchange. An estimated 12.2

Mortgages 448

Mortgages VA loan Loans Lending 448

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. Bottom Line.

VA loan 323

VA loan FHA loan Mortgages Lending 323

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. Friday, April 7, marked a day for celebration.

Loans 418

Loans FHA loan Mortgages VA loan 418

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. Here’s how to proactively maintain fair lending. According to the Mortgage Bankers Association , in the fourth quarter of 2021 the VA delinquency rate declined 57 basis points to 5.24

VA loan 370

VA loan Pre-approval Principal Loans 370

Housing Wire

NOVEMBER 4, 2020

Applications for investment properties showed the highest risk, while VA-based programs showed the lowest. No new cash is available through the loan so there are fewer fraud scenarios that are possible. VA-based programs had the lowest-risk applications, CoreLogic found. year-over-year nationally.

Mortgages 448

Mortgages VA loan Loans Lending 448

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

JANUARY 26, 2022

” According to the company, jumbo loans will be available for both 15-and-30-year cycles. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans. Building the next generation of tech: Three ways to digitize home lending.

Mortgages 370

Mortgages Pre-approval VA loan Lending 370

Housing Wire

APRIL 15, 2024

Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered. Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday.

Agents 532

Agents Seller concession VA loan Finance 532

Real Trends

DECEMBER 14, 2022

Vetted VA’s Chris Griffith says, ‘tap, rack, bang,’ is a statement all Marines know by heart. Chris Griffith is the CEO of Vetted VA, a training company and trusted source for VA home loan information. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. said Griffith.

VA loan 107

VA loan Loans Lending Loan Officer 107

Housing Wire

APRIL 5, 2022

Dubbed the “Fast 15 Guarantee,” eligible loans for conventional single family homes will be cleared to close in no more than 15 business days from the submission of a complete loan file, according to Rocket Pro TPO, the wholesale arm of the lending giant. Sponsored Video.

Closing 397

Closing Loans VA loan Mortgages 397

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.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

MARCH 30, 2023

It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? Many people predicted that the U.S.

Loans 539

Loans VA loan Banks Mortgages 539

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 397

FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

OCTOBER 6, 2023

” PRMG offers a comprehensive range of mortgage products, including conventional, FHA, VA, USDA and jumbo loans. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans. 4-7, in Las Vegas. “We’re people who have been around for a while.

Mortgages 493

Mortgages VA loan Finance Renovation 493

Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment. This week, mortgage application volume rose 2.5% from the previous week.

Mortgages 370

Mortgages VA loan Fixed-rate mortgage Banks 370

Keeping Current Matters

SEPTEMBER 22, 2021

In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.

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VA loan Lending Loans As-is 312