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 395

Mortgages Loans Investor Banks 395

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

RIS Media

AUGUST 21, 2023

Mortgage rates are stubbornly high. And, for agents, every opportunity to help clients save money is an opportunity to gain their trust and appreciation—two ingredients for… The post Uncovering Hidden Savings: Helping Create Lifelong Clients by Reducing Title and Closing Costs appeared first on RISMedia.

Closing costs 98

Closing costs Title Closing Mortgages 98

CT Homes

APRIL 25, 2022

When buying or selling a home, the topic of closing costs is bound to come on the horizon. Closing costs are the fees associated with the various services required to close the sale. Closing costs are the fees associated with the various services required to close the sale.

Closing costs 74

Closing costs Closing Purchase and sale agreement Title 74

Lab Coat Agents

MAY 21, 2024

In today’s rapidly evolving real estate market, assumable mortgages have emerged as a game-changer for homebuyers seeking to save money and secure favorable financing terms. As interest rates continue to rise, the ability to assume a seller’s existing mortgage at a lower rate has become increasingly attractive.

VA loan 98

VA loan Mortgages Loans FHA loan 98

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 417

Loans Closing costs Development Finance 417

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 360

FHA loan Loans Title Mortgages 360

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 446

FHA loan Loans Title Mortgages 446

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 381

FHA loan Mortgages Loans Principal 381

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 453

Finance Seller concession Loan Officer Loans 453

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 373

Investor Finance MLS Closing costs 373

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 395

Construction Loans Loan Officer New Construction 395

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.

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Principal Loans Banks Closing costs 492

Realty Biz

FEBRUARY 19, 2023

First Centennial Mortgage is listed as a 2022 Top IHDA Mortgage Lender by the Illinois Housing Development Authority. We are honored to serve the residents of Illinois and receive this award from IHDA,” said Steven McCormick, President of First Centennial Mortgage. “We For more information, visit goFCM.com.

Mortgages 98

Mortgages Closing costs Development Residential 98

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 338

Closing costs Finance Development Industrial 338

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 395

Lending Closing costs Mortgages Title 395

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.

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Title Title search Closing costs Closing 469

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 368

Banks Loans Equity Finance 368

Marco Santarelli

JUNE 3, 2024

The housing market can feel like a rollercoaster at times , and June is shaping up to be no exception, especially for those navigating mortgage rates. June mortgage rates brace for impact! Here's why: Mortgage Rates: Experts Reveal What's Coming in June A Perfect Storm Brewing June disrupts the usual routine for mortgage rates.

Mortgages 52

Mortgages Loan Officer Fixed-rate mortgage Loans 52

Realty Biz

FEBRUARY 28, 2023

However, mortgage missteps are likely to occur during the home-buying process, whether you are a first-time or veteran homebuyer. Being prepared for some of the most common pitfalls can make it easier to plan ahead and develop a strategy to avoid them. Here are four common mortgage mistakes to avoid when buying a home.

Pre-approval 95

Pre-approval Mortgages Closing costs Loans 95

Housing Wire

SEPTEMBER 15, 2023

Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!) FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans. 30% of the buyer’s gross income should be available to use towards their mortgage payments.

VA loan 417

VA loan Loans Mortgages Closing costs 417

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 363

Equity Finance Loans Development 363

Norada Real Estate

MAY 30, 2024

High mortgage rates making your dream home unreachable? Homeownership is a cornerstone of the American dream, and in recent years, financial institutions have been developing programs to make this dream more accessible to a broader range of people. Don't despair!

Mortgages 52

Mortgages Equity Banks Loans 52

Marco Santarelli

MAY 2, 2024

The dream of falling mortgage rates in 2024 has hit a snag. Let's explore what experts predict for mortgage rates for this month (May 2024) and the key factors that could shake things up. Where We Stand: As of today, May 2nd, 2024, the average 30-year fixed-rate mortgage sits at a hefty 7.22%.

Mortgages 52

Mortgages Fixed-rate mortgage Investor Loans 52

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 363

Title Closing costs Title search Closing 363

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 462

MLS Brokerage Agents Closing costs 462

Housing Wire

SEPTEMBER 7, 2023

But if you’re an originator, that simply means that your target group is now smaller,” said Brian Hale, CEO of Mortgage Advisory Partners. “If So, they’ll reach out and they’ll find the companies that are publicly known as consumer-direct lenders,” said Mike Roberts, the co-founder of City Creek Mortgage.

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Agents Loan Officer Lending MLS 395

Housing Wire

MARCH 22, 2023

HousingWire recently spoke to Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency, about how working with an insurance agency can simplify the closing process for their customers, even in times of interest rate uncertainty. You can also request a policy and easily print EOI.

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Debt-to-income ratio Closing Loans Closing costs 403

Housing Wire

MARCH 20, 2024

Many buyers struggled with the financial burden of covering closing costs , making it difficult or impossible to also cover the compensation for agent representation. Many are already shouldering the burdens of high debt-to-income ratios, mortgage insurance premiums, and elevated interest rates to secure a foothold in homeownership.

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Debt-to-income ratio Agents Equity Closing costs 475

Lighter Side of Real Estate

NOVEMBER 21, 2023

Many first-time buyers could use some help qualifying for their first mortgage, which is why the government and financial institutions have developed specific first-time homebuyer programs to help ease the burden and make the dream of owning a home a reality. What Are Typical Qualifications You Need to Meet?

Mortgages 90

Mortgages Loans Closing costs As-is 90

Realtor.com

NOVEMBER 28, 2022

when you get a mortgage loan or a credit card). APR can also be considered the total cost for borrowing money over a one-year period. closing costs , points , origination fees, and private mortgage insurance ). Home location: Mortgage rates can vary depending on where you’re buying a home.

Closing costs 122

Closing costs Title search Fixed-rate mortgage Loans 122

Realty Biz

JUNE 28, 2022

A reverse mortgage is a type of consumer home loan that allows homeowners ages 62 and older to borrow against their home’s equity to receive either cash or a line of credit. Unlike a traditional mortgage, homeowners don’t make a monthly payment; the loan is repaid when the homeowner or their heirs sell the house. .

Mortgages 87

Mortgages Equity Loans Closing costs 87

Housing Wire

FEBRUARY 22, 2024

HousingWire Editor in Chief Sarah Wheeler sat down with Jason Cave , former deputy director at the FHFA where he ran their FinTech Office, to talk about where mortgage tech is falling short, and what the government should do to help. SW: Looking at the mortgage space, what are some of the challenges when it comes to technology?

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Technology Banks Mortgages As-is 315

Realty Biz

JANUARY 6, 2024

mortgage lenders will offer Illinois homebuyers a maximum of $6,000 to assist in acquiring a new home through the IHDAccess Forgivable program. IHDAccess Forgivable aims to aid borrowers who qualify for a loan but may face challenges in covering down payment and closing costs due to factors such as student loans or other financial burdens.

Fixed-rate mortgage 67

Fixed-rate mortgage Closing costs Lending Banks 67

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 103

Closing costs Closing Purchase and sale agreement Title 103

Marco Santarelli

MAY 30, 2024

Soaring mortgage rates threaten affordability, but there's a glimmer of hope! Is a return of zero-down mortgages on the horizon despite past risks? Among these initiatives, zero-down mortgage options have emerged as a beacon of hope for those who may not have the substantial savings traditionally required for a down payment.

Equity 52

Equity Banks Loans Mortgages 52

Realtor.com

DECEMBER 20, 2021

This money is crucial to snagging a mortgage and getting that much closer to homeownership. “Then ask each of them how much down payment you’ll need for pre-approval for a mortgage.” In that case, keep in mind that borrowers who pay less than 20% typically have to pay private mortgage insurance , or PMI.

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Pre-approval Loans Loan Officer VA loan 137