Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year, according to industry experts, by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations.

Loans 358

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 358

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. He added that loan defects often leading to repurchase requests include, among others, borrower income-related issues (i.e.,

Loans 369

Loans Debt-to-income ratio Banks Mortgages 369

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements.

Lending 404

Lending Mortgages Due diligence Debt-to-income ratio 404

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. Income and credit information are inputted into the AUS. They do this to reduce their risk and to free up their capital to process more loans.

Closing 344

Closing Fixed-rate mortgage Debt-to-income ratio Lending 344

Realty Biz

MARCH 12, 2023

A real estate underwriter plays a critical role in the mortgage industry by evaluating loan applications and assessing real estate investment-associated risks. They work for lending institutions, such as banks and mortgage companies. Analyzes Financial Documents These documents include tax returns, bank statements, and pay stubs.

Debt-to-income ratio 106

Debt-to-income ratio Mortgages FHA loan Loans 106

Housing Wire

DECEMBER 31, 2020

That is because the mortgage banking cycle is volatile, the firms are singularly dependent on the performance of the mortgage business and these two attributes promote cutthroat competition that in its worst form manifests in a financial crisis. Moreover, the GSEs in their current form are not exactly paragons of efficiency.

Debt-to-income ratio 457

Debt-to-income ratio Finance Mortgages Banks 457

Realty Biz

AUGUST 20, 2023

It's essential to gather the necessary documentation, such as bank statements and pay stubs, to support your application. Pre-approval requires you to submit documentation such as bank statements, pay stubs, and a comprehensive credit history review, resulting in a more accurate assessment of your borrowing capacity.

Pre-approval 93

Pre-approval Debt-to-income ratio Mortgages Loans 93

Realty Biz

JULY 23, 2023

Self-employed individuals include freelancers, consultants, and independent contractors across various industries. Unlike traditional W-2 employees who have a consistent income and verifiable employment, self-employed individuals may face additional scrutiny.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70

Housing Wire

MARCH 10, 2023

A host of nonbanks and traditional depository lenders, such as banks and credit unions, as well as a growing number of fintech firms continue to ramp up efforts and product lines to meet that demand. As of March 8, according to Commerce Bank , the prime rate was 7.75%. to 2 points.” level from the first quarter of 2021.”

Equity 353

Equity Marketing Debt-to-income ratio Lending 353

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio 85

Debt-to-income ratio Mortgages FHA loan Loans 85

HomeLight

MARCH 9, 2023

The following national banks provide programs for low-income and buyers of color. Each bank will have a brief overview of the program offered. Bank of America Bank of America provides the Community Affordable Loan Solution in designated Black and Latino markets. Bank invested in a program called the U.S.

Loans 65

Loans Debt-to-income ratio VA loan FHA loan 65

Realty Biz

JUNE 23, 2021

When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. Ever since the financial crisis of 2008, lenders are reluctant to take risks on people with less-than-stellar credit or who have high debt-to-income ratios.

Debt-to-income ratio 80

Debt-to-income ratio Mortgages Lending Banks 80

Lighter Side of Real Estate

SEPTEMBER 12, 2023

If it’s an upward or lateral career move within the same or similar industry, you should be fine. Big purchases, especially if they come with loans you have to pay on a monthly basis, can impact your debt to income ratio. Either way, reach out to see if it impacts you so you can ease their concerns if there are any.

Pre-approval 96

Pre-approval Debt-to-income ratio Mortgages Marketing 96

Lighter Side of Real Estate

JANUARY 24, 2024

Considering landlords often have an approval process you had to go through in order to qualify to rent their place, it seems reasonable and logical that if someone can afford to pay a certain amount in rent, then a bank should be fine with lending them as much money as that amount would cost to pay back on a monthly basis.

Pre-approval 95

Pre-approval Debt-to-income ratio Pre-qualification Mortgages 95

Realty Biz

JUNE 25, 2021

When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. Ever since the financial crisis of 2008, lenders are reluctant to take risks on people with less-than-stellar credit or who have high debt-to-income ratios.

Debt-to-income ratio 58

Debt-to-income ratio Mortgages Lending Banks 58

Redfin

JULY 11, 2023

These may include proof of income, bank statements, employment verification, credit history, and debt information. Technological advancements have greatly simplified the document submission process for borrowers in the mortgage industry,” shares Ron Haddad Lending Team.

Pre-approval 59

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

Marco Santarelli

APRIL 26, 2023

Conversely, during periods of economic downturn or recession, interest rates tend to be lower as the government and central banks attempt to stimulate borrowing and spending to jumpstart the economy. There was speculation that the Fed might not hike interest rates in the wake of turmoil in the banking industry.

Marketing 52

Marketing Debt-to-income ratio Fixed-rate mortgage Banks 52

Redfin

FEBRUARY 10, 2021

Luckily, Redfin chief economist Daryl Fairweather gives us her keen insights into what the housing industry is doing in 2021. “ Well, it’s not only the difference between getting a low-interest rate on a home loan versus a high one, but it will also directly impact how much a bank or lender will loan you. Build Up Your Savings.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

The Close

JUNE 22, 2023

Distressed properties include homes that have been neglected for years, have fire or flood damage, and bank-owned homes with no plumbing (because the copper was stolen). This is because there’s an entire industry that buys and sells these homes off-market. Here’s why: Fewer Financing Options Graph via Federal Reserve Bank of St.

Investor 116

Investor Debt-to-income ratio New Construction Construction 116

Redfin

SEPTEMBER 27, 2021

Many lenders work with standard debt-to-income ratio calculations which don’t take into account other costs of home ownership. Determine your debt to income ratio (DTI). If your spouse, partner, or roommate is a party on the mortgage loan , their gross income and recurring debts also play a factor.

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

HomeLight

JUNE 28, 2023

Maybe your chosen industry is flourishing in another city and you need to move to find work. These days, a 43% debt-to-income ratio is the highest amount a lender will typically allow. Homeownership is just one of life’s huge goals — most people also have big plans for their careers, too.

Debt-to-income ratio 84

Debt-to-income ratio Equity As-is Staging 84

RIS Media

MARCH 25, 2022

However, real estate experts and industry pundits agree that adding another bill to the plate of buyers and homeowners could pose another challenge in the market, as the affordability gap widens. Inflation is a tad higher,” Yun says. Exactly how much is unknown.”.

Loans 98

Loans Debt-to-income ratio Mortgages Loan Officer 98

The Close

FEBRUARY 20, 2023

A hard money lender can offer ideal loan terms for specific situations, including no income verification and interest-only loans. Hard money lenders aren’t subject to the same regulatory and compliance rules as conforming loan lenders, such as retail banks. How do you get approved for a hard money loan?

Hard money loan 98

Hard money loan Debt-to-income ratio Lending Loans 98

Toronto Realty Blog

NOVEMBER 27, 2023

TorontoRealtyBlog I’ve been hearing about “the market crash” since before I even started to sell real estate back in 2004, but if there’s been one consistent theme throughout my two decades in the industry, it’s that people have a fixation with this idea of a major collapse.

Title 69

Title Debt-to-income ratio Banks Mortgages 69

HomeLight

OCTOBER 15, 2020

To get one, you’d go to an approved lender, and the government in turn guarantees it for the bank from which you borrowed. It’s not just the dollar amount of what you earn, but also the specifics that comprise your income that count. Candidates must have a two-year employment history in the same job or industry.

Loans 82

Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 82

HomeLight

JULY 31, 2020

These increased standards are called mortgage overlays , and they may include bigger down payments, higher credit scores , lower debt-to-income ratios, or a combination of these changes. It really depends on income levels and what that mortgage payment needs to look like,” he says. Average down payments.

Debt-to-income ratio 71

Debt-to-income ratio Loans Equity VA loan 71

HomeLight

MAY 31, 2021

One of the first things you’ll want to know is just how much house you can afford , which is based on your income, credit score, debt-to-income ratio (DTI), and savings amount (including your down payment). I had some clients a few years ago that had trouble qualifying because they had a lot of debt. Conventional.

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. This is when a homeowner turns a deed over to the mortgaging bank to avoid going into foreclosure. This allows the borrower to avoid personal liability for the remaining unpaid debt.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

Redfin

JUNE 14, 2023

North Carolina housing market insights The housing market in North Carolina is a vibrant and flourishing industry that presents potential buyers with numerous choices. Check out this article to learn more about the pros and cons of living in North Carolina. and Duke Energy.

Pre-approval 58

Pre-approval Debt-to-income ratio Closing costs Title 58

HomeLight

FEBRUARY 15, 2021

It’s an effort that we believe will change lives and make the real estate industry more inclusive. Blacks are also underrepresented in the mortgage industry. This is the show where you’ll learn what’s working right now from the best real estate agents and industry experts in the country.

Agents 88

Agents Industrial Debt-to-income ratio As-is 88

HomeLight

OCTOBER 29, 2021

Once you buy a house and see your now-depleted bank account, that’s shocking,” she says. “I Your lender wants to see that you aren’t wiping yourself out financially to buy a house, and they usually require about two months’ worth of mortgage payments in your bank account as a financial cushion. So, how much do you need to save ?

Inspection 89

Inspection Loans VA loan Title 89

Marco Santarelli

APRIL 30, 2021

Would you prefer residential, commercial, industrial, retail, or mixed-use real estate investments ? Also, keep in mind that buying a primary residence first and incurring tremendous debt could prevent you from qualifying for investment property thereafter. Many investors believe they should only invest in an appreciating market.

Investor 111

Investor Residential Finance As-is 111

HomeLight

AUGUST 28, 2020

This rate is the overnight exchange rate, or the rate at which banks loan money to each other. They play a vital role in keeping the money flowing in the mortgage industry. Your debt-to-income ratio. Enter your debt-to-income (DTI) ratio.

Mortgages 79

Mortgages Loans Fixed-rate mortgage Principal 79

HomeLight

JANUARY 27, 2021

A great agent also has relationships across the industry. A lender with a local presence will likely know the ins and outs of your market better than a big bank, and they’ll have local relationships that will make closing your deal easier. Your agent should be a first-time buyer whisperer. Planning to buy a foreclosure ?

Closing costs 114

Closing costs Loans Inspection Earnest money deposit 114