Housing Wire

MAY 1, 2024

First-generation homebuyers as a cohort are “less likely to receive financial assistance from parents to help with the down payment and other upfront costs when purchasing a home,” according to Freddie Mac. Identification of a loan under these conditions is currently optional, the bulletin explained.

Mortgages 431

Mortgages Finance Loans Closing costs 431

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Closing costs 466

Closing costs Development Equity Mortgages 466

Housing Wire

APRIL 7, 2025

In our community, many first-time buyers were using those to buy down interest rates or cover closing costs. Now theyre relying more on state and local grants, if available. Despite the setback, Herrera remains optimistic. Our community is resilient.

Commercial 370

Commercial Title Closing costs Equity 370

Housing Wire

DECEMBER 16, 2024

The family-run brokerage firm recorded some legal w ins and losses , developed new tools for agents and clients , and navigated one of the slowest years for home sales in nearly three decades. of the loan amount) at settlement to use toward their closing costs.

Brokerage 366

Brokerage Agents Technology Industrial 366

Housing Wire

JULY 5, 2023

District Court for the Western District of Texas by a group of current and former staffers from the company’s bilingual mortgage sales team alleging race-based discrimination. For example, Wells Fargo has developed an ‘Earn the Business’ program for the Bilingual team. Wells Fargo has been sued in U.S.

Mortgages 370

Mortgages Closing costs Lending Closing 370

Housing Wire

MAY 20, 2024

This may lead an older homeowner to consider a product like a reverse mortgage, but potential borrowers should be aware of the product’s details and the informational resources they can access. She said that reverse mortgages can be expensive, which is why the product should be considered in concert with other options.

Mortgages 417

Mortgages Equity Loans Closing costs 417

Housing Wire

MARCH 7, 2024

Biden will also call for “lower homebuying and refinancing closing costs and crack down on corporate actions that rip off renters,” according to the White House announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% The NHC lauded the development.

Construction 534

Construction Closing costs Renovation Title 534

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. Non-qualified mortgage (non-QM) wholesale lender A&D Mortgage , however, saw origination volume increase by more than 31% to $3.2 bps toward closing costs at the time of the closing. “We

Mortgages 397

Mortgages Loans Investor Banks 397

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. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 458

VA loan Agents Seller concession FHA loan 458

Housing Wire

JULY 7, 2022

Instead, the agency will focus on better identifying mortgage-ready applicants, and helping other borrowers become mortgage-ready, said Malloy Evans, single-family senior vice president at Fannie Mae. It’s possible Fannie Mae’s programs may also provide down payment assistance or reduced appraisal and title insurance costs.

Equity 421

Equity Lending Closing costs Development 421

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan. This change triggered controversy.

FHA loan 384

FHA loan Mortgages Loans Principal 384

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. and has worked in the mortgage industry for over 50 years.

Loans 421

Loans Development Closing costs Finance 421

Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. UWM, America’s top mortgage lender, is offering Special Purpose Credit Programs (SPCP) for Fannie Mae ‘s HomeReady and Freddie Mac ’s BorrowSmart Geo-Target programs.

Closing costs 370

Closing costs Finance Lending Development 370

Housing Wire

AUGUST 4, 2022

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. There are, however, a number of additional caveats for a mortgage loan with a lender-funded grant to be eligible for sale to Fannie Mae. There may be more to come.

Loans 496

Loans Principal Banks Closing costs 496

Housing Wire

JUNE 28, 2024

Unfortunately, the Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information (RFI) on mortgage closing costs—including title insurance—that continues a concerning pattern of labeling legitimate, well-regulated, and transparently disclosed costs and services as “junk fees.”

Title 384

Title Closing costs Closing Industrial 384

Housing Wire

MAY 9, 2022

a direct-to-consumer mortgage lender acquired by Guaranteed Rate in February 2021 , is planning a workforce reduction amid higher mortgage rates and lower refinance volumes. The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals.

Lending 397

Lending Closing costs Title Mortgages 397

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. This type of loan only has one set of closing costs to pay, reducing the borrower’s overall fees.

Construction 397

Construction Loans Loan Officer New Construction 397

Housing Wire

DECEMBER 16, 2022

For title insurance, a homebuyer only needs to pay a one-time fee at closing, which is typically issued in the amount of the real estate purchase price. For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. Title insurance remains essential.

Title 473

Title Title search Closing costs Land 473

Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance.

Finance 458

Finance Seller concession Loan Officer Loans 458

Housing Wire

FEBRUARY 8, 2022

These young professionals come from all sectors — mortgage, real estate, fintech, servicing and much more — and are taking the lead on revolutionizing the housing industry. If you know a rising star who is under 40 and making an impact — and it could even be you!

Closing costs 356

Closing costs Finance Development Industrial 356

Housing Wire

MAY 5, 2023

HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments. Last month, Black Knight’s Optimal Blue released a product comparison feature in the company’s cloud-based Loansifter PPE engine for mortgage brokers.

Investor 382

Investor Finance MLS Closing costs 382

Housing Wire

NOVEMBER 27, 2023

Meanwhile, low supply and high mortgage rates continued to dampen existing home sales. Census Bureau and the Department of Housing and Urban Development ( HUD ). According to Alicia Huey, chairman of the National Association of Home Builders (NAHB), sales fell in October from the prior month because of elevated mortgage rates.

Sales 420

Sales New Construction Construction Closing costs 420

Housing Wire

OCTOBER 21, 2021

The resources help families with 80% or less of the area median income for down payments or closing costs, for example. Ritchie Torres (D-NY) introduced a bill in both houses proposing changes to the program due to the economic crisis caused by the pandemic, and to spur economic development in low-income communities.

Banks 370

Banks Loans Equity Development 370

Housing Wire

JULY 22, 2024

Quality control also ensures that mortgage loans meet investor and regulatory standards, which minimize the risk of defaults and foreclosures adversely impacting local markets. EG: As a thought leader in the mortgage industry, we wanted to provide lenders with a new tool to use in their risk mitigation toolbox.

Lending 411

Lending VA loan Banks Investor 411

Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. The Community Home Lenders of America (CHLA) applauds these initiatives. The American homebuyer needs help. But it’s time for a reality check. Such opportunities may arise.

FHA loan 450

FHA loan Loans Title Banks 450

Housing Wire

NOVEMBER 3, 2021

Freddie Mac wants to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a better shot at qualifying for a mortgage. Esusu, a credit-building fintech, will deliver the on-time rental payment reports from landlords’ property management software to the credit bureaus.

Finance 441

Finance Closing costs Property Management Equity 441

Housing Wire

JUNE 8, 2022

We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”. The more than six-month delay, FHFA officials said, was due to the development of the pilot transparency program, and the time it took to scrub proprietary information from the plans.

Equity 369

Equity Finance Loans Development 369

Marco Santarelli

APRIL 17, 2025

On April 17, 2025, mortgage rates have slightly decreased for the third consecutive day, providing some relief for prospective homebuyers and refinancers amid ongoing economic uncertainties. The current average 30-year fixed mortgage rate stands at 6.74% , whereas the 15-year fixed is at 6.06%. Why Are Rates Falling Now?

Mortgages 109

Mortgages Fixed-rate mortgage Loans Closing costs 109

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. Another development in the focus on first-time homebuyers is CFPB’s recent announcement that it was going after junk fees and other non-competitive practices in the mortgage loan process.

FHA loan 388

FHA loan Loans Title Banks 388

Housing Wire

OCTOBER 13, 2022

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference. “The We are protecting the American Dream,” Tomb said.

Title 384

Title Closing costs Title search Closing 384

HomeLight

APRIL 14, 2023

But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs? We’re seeing more rate buydowns from sellers. The rate could go from 7% to 6.5%

Closing costs 105

Closing costs Closing Purchase and sale agreement Title 105

Housing Wire

NOVEMBER 30, 2023

DPAs can take various forms, such as grants, loans or second mortgages, and they are typically tailored to meet the specific needs of the target demographic. Loans: Second mortgages that are paid monthly along with your primary mortgage. These only need to be repaid if you move, sell or refinance too early.

FHA loan 420

FHA loan Loans Equity Mortgages 420

Housing Wire

NOVEMBER 21, 2022

The COVID-19 pandemic brought interest rates to record lows and spurred a $4 trillion purchase and refinance mortgage boom in 2021. trillion in mortgage origination volume in 2022. CoreLogic is proud to sponsor Convergence and lead the development of a novel solution to this thorny supply challenge.

Finance 384

Finance Design Equity Construction 384

Housing Wire

AUGUST 19, 2024

The groups criticizing CFA, and by extension, DOJ, argue that uncoupling commissions will harm first-time home buyers, especially Black and Hispanic homebuyers who may have limited resources to pay down payment and closing costs. Ending uncompetitive practices in real estate will benefit all buyers and sellers.

Purchase and sale agreement 431

Purchase and sale agreement Finance Industrial Agents 431

RIS Media

JANUARY 18, 2022

If you’re planning to buy a home, you may be eligible for help with closing fees. That can allow you to take out a smaller mortgage or purchase a more expensive house than you would have otherwise been able to afford. . How Do Closing Cost Assistance Programs Work? Who Is Eligible for Closing Cost Assistance?

Closing costs 96

Closing costs Closing Loans Mortgages 96

Housing Wire

MAY 8, 2023

Department of Housing and Urban Development ( HUD ) , that 200,000 represented close to 20% of all single-family homes supplied to the market in 2019. I pay the closing costs for veterans, first responders and educators to help expand homeownership among these groups,” said George Russell, a Texas-based Auction.com buyer.

Renovation 410

Renovation Equity Mortgages Development 410

Housing Wire

OCTOBER 27, 2023

In response to the marketplace and at the urging of consumer advocates, NAR began to develop guidance for local MLS broker marketplaces as part of what always has been a very involved and public rule-making process aimed at creating the most consumer-friendly market possible. They coordinate with lenders and research mortgage rates and terms.

MLS 466

MLS Brokerage Agents Closing costs 466