Housing Wire
MARCH 1, 2021
These mortgages come with lower interest rates, a quicker payoff timeline and the opportunity to build equity much faster than 30-year loans. And who couldn’t use an extra $60,000 in the bank?). Streamline refinances (if you have an FHA or VA loan). Streamline refinances (if you have an FHA or VA loan).
Housing Wire
OCTOBER 21, 2022
The Community Home Lenders Association , a trade group whose members are smaller independent mortgage banks, asked Ginnie to “show flexibility” in these requirements as it works with issuers “in order to avoid a potential adverse market impact which might result from issuers selling Ginnie Mae MSRs to meet the new requirements.”
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Housing Wire
AUGUST 26, 2022
HousingWire recently spoke with Lee Smith and John Gibson at Flagstar Bank about what originators can do to align their mortgage products and services with the ebb and flow of the housing market and what Flagstar is doing to help clients remain at the top of their game during this turbulent time. The same is true for non-qualified mortgages.
Housing Wire
MARCH 30, 2023
With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? Mortgage credit can get tight for jumbo loans, non-QM loans and home equity lines, but general conforming Freddie Mac and Fannie Mae loans, FHA , and VA loans should be steady during the next recession.
Housing Wire
MAY 15, 2023
Researchers at the Federal Reserve Bank of New York estimate the size of this boom in a new report. Nine million borrowers refinanced their loans without equity extraction, with an aggregate decrease of $24 billion annually. In addition, five million borrowers extracted $430 billion of home equity through cash-out refis.
Housing Wire
SEPTEMBER 22, 2023
While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% Elevated mortgage rates will lead to more lenders spilling red ink in the latter half of the year, in contrast to the improved financial performance of independent mortgage banks in Q2. DPA programs were predominantly for FHA loans.
Housing Wire
SEPTEMBER 21, 2020
That is why homeowners, in the aggregate, have gained more than $10 trillion in home equity over the past decade. Additionally, the growth in home equity suggests that even after we are past the peak for rate and term refinances next year, cash-out refinance demand should remain solid.
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