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Housing Wire
APRIL 30, 2024
After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.
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.”
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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.
Housing Wire
AUGUST 5, 2022
Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived. Customer experience.
Housing Wire
SEPTEMBER 8, 2022
Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?
Housing Wire
FEBRUARY 12, 2024
Where should mortgage rates be before I buy or refinance my home? These are just a few of the questions independent mortgage brokers get asked on a daily basis. Furthermore, the average consumer is likely unaware of the variety of loan options available to them through the wholesale channel. How much home can I afford today?
Housing Wire
APRIL 26, 2023
With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s
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