Housing Wire

APRIL 9, 2024

In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending. Homeownership is used far too often as the federal piggy bank. But now a new threat is emerging on this front. Such opportunities may arise.

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FHA loan Loans Title Mortgages 450

Housing Wire

FEBRUARY 25, 2025

That means house hunters dont necessarily need to break the bank for a huge down payment if it makes more financial sense to save some money for things like future home renovations or other investments. Department of Veterans Affairs (VA) loans made up 6.7% FHA loans were most common in Riverside, California (25.4%

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VA loan FHA loan Loans Renovation 266

Housing Wire

OCTOBER 9, 2024

4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2% Department of Veterans Affairs (VA) loans rose by 150 bps to account for 16.9% The average contract interest rate for 30-year fixed-rate loans with conforming balances ($766,550 or less) jumped from 6.14% to 6.36% during the week.

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VA loan Mortgages FHA loan Loans 428

Housing Wire

SEPTEMBER 14, 2023

Demand for FHA loans have risen over the past year to comprise 23.8% We are really happy about this change because it’s going to provide more opportunity for loan officers and is going to provide more opportunity for buyers to get a second chance,” Michael Borodinsky, VP and branch manager at Caliber Home Loans , said.

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Housing Wire

JUNE 1, 2022

A coalition of independent mortgage banks want the Federal Housing Administration (FHA) to take steps it says would significantly improve access to credit for underserved borrowers. 55% and get rid of its life of loan premium policy.

FHA loan 384

FHA loan Loans Mortgages Banks 384

Housing Wire

MAY 14, 2024

In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending. Homeownership is used far too often as the federal piggy bank. But now a new threat is emerging on this front. Such opportunities may arise.

FHA loan 399

FHA loan Loans Title Banks 399

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. About half of Ullmann’s production in 2023 came from VA and FHA loans as well as mortgages that require down payment assistance.

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Loans FHA loan Mortgages Loan Officer 432

Housing Wire

MAY 25, 2023

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. Department of Veteran Affairs (V.A.)

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Mortgages FHA loan Loan Officer Banks 384

Housing Wire

OCTOBER 25, 2023

The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers. The average of preapproved borrowers per loan officer fell by 11.6% Meanwhile, the average preapproval loan amount in Q3 decreased slightly by 2.5%

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Housing Wire

MAY 4, 2021

The greater number of borrowers exiting forbearance right now also requires more labor from the servicers’ side given the Mortgage Bankers Association estimates 27% of exits since June of 2020 resulted in loan deferrals and partial claims. However, non–federally backed borrowers don’t all have the same policies.

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Mortgages FHA loan Loans Title 450

Housing Wire

SEPTEMBER 26, 2024

Median payments for both Federal Housing Administration (FHA) loans and conventional loans declined. The cost of owning a home across much of the nation remains a tough go for average workers, exceeding levels preferred by banks and other lenders. between July and August. That’s mainly because of declining interest rates.”

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FHA loan Mortgages Loans Banks 466

Housing Wire

APRIL 10, 2023

However, when investors flocked to safe-haven assets in the wake of uncertainty in the banking sectors — which led to rates coming down roughly a quarter of a point — the mortgage industry saw another quick surge in originations, particularly the purchase market, Walden noted.

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FHA loan Marketing Lending Mortgages 384

Housing Wire

MAY 19, 2025

“It feels like the right moment for this product,” said Jeana Curro , who leads agency MBS research at Bank of America. And there has been a move away from Fannie Mae and Freddie Mac products and toward offerings from the Federal Housing Administration (FHA) and U.S.

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Loans Mortgages Banks Finance 323

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

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VA loan FHA loan Fixed-rate mortgage Banks 410

Housing Wire

JUNE 3, 2022

Since then, Lakeview has unveiled two additional PLS offerings involving pools of delinquent FHA loans also securitized via Ginnie Mae. The more recent offerings — Lakeview Trust 2022-EBO2, which closed in late April; and Lakeview Trust 2022-EBO3, set to close in early June — also involve EBO loans, according to KBRA ratings reports.

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Housing Wire

SEPTEMBER 21, 2020

It has been surprising to see in MBA’s data recently that FHA note rates, which typically are below conventional rates, have risen above conforming 30-year rates for much of the pandemic period. Smaller balance loans, in many cases likely FHA loans, are impacted by the factors noted above. What is driving this?

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FHA loan Loans VA loan Mortgages 542

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.

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Housing Wire

AUGUST 15, 2022

The depository bank will likely shrink or potentially halt correspondent lending, in which Wells Fargo funds the loan arranged by outsiders, Bloomberg reported , citing unnamed sources. Servicing rights is treated as an asset by banks that generates revenue. billion as of the quarter ended June 30, 2022.

Lending 370

Lending FHA loan Banks Finance 370

Housing Wire

FEBRUARY 27, 2024

Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. This role offers me a platform to be more than just a loan officer,” Gatling said in a statement. were FHA loans.

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FHA loan Loan Officer Loans Staging 421

Housing Wire

OCTOBER 21, 2022

LoanFront is licensed to do business in 21 states and offers a mix of conventional and government loans. According to mortgage recruiting platform Modex , about 96% of its transactions were refinancings and the majority were FHA loans. million in loans in September. Presented by: Flagstar. billion — compared with $51.1

Mortgages 74

Mortgages FHA loan Banks Equity 74

Housing Wire

SEPTEMBER 27, 2022

In correspondent lending, Wells Fargo funds the loan arranged by outsiders and the bank is concerned that it would have to be responsible for “reputational damage” when it finances large amounts of loans originated by other firms. Bank have also shed an undisclosed number of jobs in their mortgage divisions this year.

FHA loan 384

FHA loan Lending Banks Finance 384

Housing Wire

MARCH 29, 2022

Rocket Mortgage Mortgage Research Center, LLC (DBA Veterans United) PennyMac Loan Servicers United Wholesale Mortgage Navy Federal Credit Union LoanDepot Caliber Home Loans USAA Federal Savings Banks Homepoint. Freedom Mortgage Corporation continued to lead the pack, originating $43 billion in VA loans last year.

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VA loan FHA loan Loans Banks 369

Housing Wire

AUGUST 2, 2024

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. “I believe the best way to care for the veteran is a loan with little to no fees. Here’s how LOs are handling the sudden drop in rates.

Mortgages 504

Mortgages FHA loan Loans Loan Officer 504

Housing Wire

OCTOBER 27, 2020

Bank raised its FICO score requirements to 680 on FHA, VA and USDA loans. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements. USDA loans, on the other hand, are options for rural homebuyers. Meanwhile, U.S.

VA loan 397

VA loan FHA loan Loans Banks 397

Housing Wire

JUNE 9, 2022

An estimated 140,000 renovated properties purchased at foreclosure auction or bank-owned auction were resold to owner-occupant buyers between January 2020 and December 2021. Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? Presented by: Auction.com.

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FHA loan Renovation Equity Loans 368

Housing Wire

APRIL 15, 2024

Lombardo cited data from the Federal Reserve Bank of St. Louis that compares the median home price in Nevada at the time Biden took office ($342,995) to the figure as of January 2024 ($460,000), and illustrated increases in monthly payment obligations for Federal Housing Administration (FHA) borrowers. Utilizing a 3.5%

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FHA loan Land Principal Development 431

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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VA loan FHA loan Loans Banks 370

Housing Wire

APRIL 17, 2023

And, if you read the report , you will see toward the end that even with the improvements in LLPAs for high LTV/Low FICO borrowers, FHA remains better execution for borrowers below a 740 FICO. But who does the FHA loans today? The answer is simple: they don’t add the credit overlays that banks generally do.

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Marketing FHA loan Banks Lending 384

Housing Wire

JUNE 8, 2022

In its Wednesday letter to the DOJ, CHLA claimed the small and midsize independent mortgage banks it represents would be “particularly vulnerable” to market concentration — such as the large conglomerate resulting from an ICE/ Black Knight merger — in mortgage services. The planned merger between Intercontinental Exchange Inc.

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FHA loan Banks Loans Technology 370

Housing Wire

JANUARY 10, 2022

Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% for 30-year fixed-rate loans. Higher mortgage rates and home prices are expected to moderate buyer demand as the erosion of affordability takes a toll.

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Housing Wire

DECEMBER 30, 2020

In October, the Conference of State Bank Supervisors made a controversial move to issue a final rule with proposed prudential standards for nonbank mortgage servicers – standards that, if enacted, have some stakeholders worried. The proposed rule addressed capital, liquidity, governance, policy related to entity survivorship and more.

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HomeLight

AUGUST 31, 2021

The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. In 2020, only about 10% of all home loans were FHA-backed, according to the agency’s annual report. But more than 80% of those FHA borrowers were first-time homebuyers.

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FHA loan Loans Debt-to-income ratio Banks 105

Realty Biz

MARCH 16, 2023

If qualifying for a conventional loan is difficult, and you aren't eligible for VA or USDA loans, an FHA loan could be the answer. FHA loans allow you to pay 3.5% But there are also downsides to FHA-insured loans. So is this type of loan right for you? What are FHA Loans?

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Housing Wire

NOVEMBER 30, 2022

.” Such a pricing structure arguably creates discriminatory pricing against minorities and underserved borrowers who are more likely to apply for FHA loans, the CHLA said.

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Mortgages FHA loan Loans Closing costs 397

Housing Wire

AUGUST 16, 2022

Wells Fargo’s correspondent lenders originate, underwrite and close mortgage loans and then sell them to the bank. The lender’s correspondent clients include other banks and mortgage companies. The leader in Ginnie Mae loan servicing, according to Recursion’s data, is Freedom Mortgage , with a 12.3%

Mortgages 370

Mortgages Lending Loans Banks 370

Housing Wire

SEPTEMBER 3, 2021

Of the 35,380 Federal Housing Administration -insured loans in New Orleans, 17.9%, or 6,600, were delinquent as of August, per an analysis of Department of Housing and Urban Development data from the American Enterprise Institute. That puts it behind only a handful of other cities in the country in delinquent share of loans.

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Housing Wire

APRIL 5, 2023

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. According to the MBA, the drop follows four weeks of increasing purchase app activity, as mortgage rates declined due to the bank crisis. Overall, mortgage applications declined 4.1%

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