Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. They own the home with their name on the title, as with any mortgage, traditional or reverse. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 466

Finance Seller concession Loan Officer Loans 466

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.”. Mortgage industry stakeholders, including the Mortgage Bankers Association , have also pushed for the adoption of special purpose credit programs.

Equity 328

Equity Finance Loans Development 328

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. With interest rates now at 14-year highs, the cost of homeownership is becoming an issue for most prospective home buyers.

Loans 406

Loans Mortgages Land Finance 406

Housing Wire

DECEMBER 14, 2023

Part of the equitable housing plans’ approach to achieving more equity includes reducing the costs and fees associated with buying a home that are often cited as a homeownership barrier for low- and moderate-income and non-white households. In fact, neither is true. The authors say these are “not economically meaningful” differences.

Title 440

Title Closing costs Loans Title search 440

Housing Wire

AUGUST 10, 2023

Mortgage , and/or Closing Cost Credit. For eligible borrowers at or below 80% AMI, the mortgage program allows a 3% down payment on a fixed-rate mortgage and the closing cost credit program provides up to $5,000 to use toward closing costs.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

FEBRUARY 14, 2024

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies.

Backup offer 408

Backup offer Loan Officer Home sale contingency Branding 408

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Also appearing in the top 200 list was CertifID , an Austin, Texas-based company that makes software to cut down on wire fraud in the real estate industry. The past year hasn’t been particularly good for tech or housing.

Equity 361

Equity Technology Investor Lending 361

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems.

Loan Officer 410

Loan Officer Equity Finance Loans 410

Housing Wire

DECEMBER 19, 2022

Rocket Mortgage , once the largest mortgage originator in the country, capitalized on the all-time low mortgage rates during the pandemic years, racking up record profits through an enormous amount of refinances. Worse, Rocket lost its origination crown to its chief antagonist, United Wholesale Mortgage. trillion in 2022.

Mortgages 421

Mortgages Loans Finance Industrial 421

Marco Santarelli

MAY 11, 2024

Home Equity Softening, Not Disappearing The report highlights a slight decrease in the percentage of homes considered “equity-rich,” where the loan value is less than half the estimated market value. This signifies that homeowners, by and large, still hold a healthy level of equity in their properties.

Mortgages 59

Mortgages Marketing Equity Pre-approval 59

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. With the days of stimulus packages and low mortgage interest rates in the rearview, Americans are steeling themselves for a future with the potential for economic uncertainty.

Equity 103

Equity Finance Loans Closing costs 103

Housing Wire

MAY 8, 2023

The monthly house payment to buy a renovated foreclosure — assuming a 5% down payment, the going 30-year fixed mortgage rate at the time of sale and including property taxes and insurance — represented just 20% of the median family income in the surrounding Census tract. in April. “My in April. “[We]

Renovation 417

Renovation Equity Mortgages Closing costs 417

Housing Wire

NOVEMBER 21, 2022

The housing industry is at an unprecedented moment in time. 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. trillion in mortgage origination volume in 2022.

Finance 372

Finance Design Equity Construction 372

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. The Federal Home Loan Bank System was created in 1932 by the Federal Home Loan Bank Act as a government-sponsored enterprise to support mortgage lending. In May, Sen. Catherine Cortez Masto (D-NV) and Rep.

Banks 343

Banks Loans Equity Finance 343

Housing Wire

MARCH 2, 2021

HousingWire spoke with Steve Greenfield, Altisource General Manager of Mortgage Real Estate Solutions, about the state of the mortgage market and how Altisource’s HomeVal solution is benefiting lenders. HousingWire: What are some due diligence and underwriting challenges loan originators face today? It’s easy to see why.

Title 273

Title Lending Due diligence Title search 273

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. 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

Agents 409

Agents Loan Officer Lending MLS 409

Realty Biz

MARCH 30, 2023

Regardless, there are many things that first-time home buyers aren't aware of when it comes to getting a mortgage. We've put together a brief mortgage guide with the key information you need to know. To get the best rate for your situation, be sure to look closely at each type of mortgage. Let's take a closer look.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

RIS Media

AUGUST 10, 2021

Rocket Mortgage announced a full suite of programs to help Detroit residents who are interested in buying a home in the city, regardless of where they are on their home-buying journey. “Detroit has been home to Rocket Mortgage for more than a decade. “Detroit has been home to Rocket Mortgage for more than a decade.

Mortgages 98

Mortgages VA loan Equity Banks 98

Housing Wire

NOVEMBER 13, 2020

Eventually, you purchased your first house, maybe got a home equity line of credit. Consumers are ready — and they’re waiting on mortgage to catch up. While mortgages make up the lion’s share of consumer debt — nearly 72% of it, according to the Fed — they’re among the rarest financial transactions in a consumer’s life.

Banks 503

Banks Loans Technology Mortgages 503

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack.

Lending 314

Lending Marketing Pre-qualification Pre-approval 314

Housing Wire

DECEMBER 7, 2020

The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. With home equity accounting for a quarter of total U.S. Quicken Loans Mortgage Services is proud to partner with a diverse set of brokers, which broadens the pool of potential clients they serve together.

FHA loan 504

FHA loan Debt-to-income ratio Loans Equity 504

HomeLight

JUNE 22, 2023

Why, maybe it’s even dealing with the anxiety that comes while you’re waiting for closing day to finally come. All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. Without further ado, let’s get started.

Debt-to-income ratio 86

Debt-to-income ratio Mortgages FHA loan Loans 86

Marco Santarelli

APRIL 28, 2023

The Federal Housing Finance Agency (FHFA) recently announced changes to the loan-level price adjustments (LLPAs) for borrowers with conventional mortgages backed by Fannie Mae or Freddie Mac. The changes, which are set to take effect on May 1, 2023, will impact the pricing structure of mortgages for borrowers.

Mortgages 98

Mortgages Debt-to-income ratio Loans Finance 98

Redfin

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

Pre-approval 59

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

Realty Biz

JUNE 29, 2021

Housing industry experts have been pretty vocal about the benefits of refinancing a mortgage lately, saying homeowners can benefit from current low interest rates to save potentially hundreds of dollars a month on their loan repayments. However, entering into a long-term mortgage and building equity requires care and diligence.”.

Equity 107

Equity Loans Closing costs Renovation 107

Fancy Pants Homes

JUNE 9, 2022

Naturally, this has led many homeowners to consider refinancing their mortgages — in an attempt to either lower their interest rate, consolidate debts, or use the equity in their property to cover other large expenses. But despite its many benefits, the mortgage refinancing process can be a challenging undertaking.

Mortgages 59

Mortgages Due diligence Equity Fixed-rate mortgage 59

HomeLight

NOVEMBER 1, 2021

You open your monthly mortgage statement one morning and nearly spit out your coffee — your loan balance reads zero. If you discover extra funds in your budget, you could experience the sensation of a mortgage-free life sooner than you planned. But is paying off your mortgage loan the best financial strategy?

Mortgages 93

Mortgages Principal Loans Equity 93

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

Fixed-rate mortgage 60

Fixed-rate mortgage Equity Debt-to-income ratio Loans 60

Real Trends

NOVEMBER 7, 2022

Claiming the mortgage interest tax deduction. To incentivize homeownership, the government offers a mortgage interest tax deduction. Let’s say you get a 30-year fixed-rate mortgage of $350,000 with a 6.5% Your payment for principal and interest would be close to $2,200 a month or $26,400 a year.

Fixed-rate mortgage 92

Fixed-rate mortgage Agents Equity Principal 92

Real Trends

MAY 9, 2023

Be an advocate for local broker marketplaces and how the way commissions are paid create competitive, efficient markets for small businesses and ensure equity, transparency and market-driven pricing for home buyers and sellers. Advocate for local broker marketplaces Local MLS broker marketplaces create accessibility and ensure equity.

MLS 94

MLS VA loan Equity Agents 94

HomeLight

SEPTEMBER 9, 2021

A struggling economy sent mortgage rates to low levels while many Americans sought out bigger, better homes to spend their days working from home and ride out the health crisis. Early in the summer, it looked like mortgage rates were going to climb , but then they dropped again amid Delta variant fears. It won’t last forever. “If

Equity 136

Equity Mortgages Agents Sales 136

RIS Media

AUGUST 20, 2021

A new Bankrate.com survey found that only 19% of homeowners who had mortgages before the pandemic have refinanced, despite interest rates plunging. Further, 38% of mortgage holders do not even know their current interest rate, and almost half (47%) have not considered refinancing despite the fact that many would likely benefit.

Closing costs 105

Closing costs Equity Mortgages Closing 105

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? Source: (Gonzalo Facello / Unsplash). Conventional.

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

Marco Santarelli

JUNE 25, 2021

Purchase Money Mortgage/Seller Financing. However, with a purchase money mortgage, the seller extends finances to the buyer. Hard money loans require the borrower to cover closing costs, application fees, appraisal fees, and any other costs associated with the purchase of a property. Home Equity Loans.

Purchase and sale agreement 133

Purchase and sale agreement Hard money loan Equity Investor 133

The Close

DECEMBER 29, 2022

After all, great communication leads to closed deals. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Amortization.

Purchase and sale agreement 98

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

RIS Media

APRIL 16, 2021

The industry has been eagerly awaiting further details about President Joe Biden’s proposed first-time homebuyer tax credit—which originally featured a max of $15,000 per buyer toward their down payment on a home. Assistance can go toward a down payment or the closing costs, or to reduce the interest rate on a mortgage.

Short sale 105

Short sale Closing costs Development Equity 105

HomeLight

MARCH 9, 2023

Closing the homeownership gap is integral to enabling communities of color to also close the wealth gap. Federally, Congress has introduced the Downpayment Toward Equity Act. If the bill passes, the act will provide eligible homebuyers up to $25,000 cash for a down payment, closing costs, and other home-buying fees.

Loans 68

Loans Debt-to-income ratio VA loan FHA loan 68