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 454

VA loan Agents Seller concession FHA loan 454

Housing Wire

AUGUST 10, 2023

“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

Agents 529

Agents Seller concession VA loan Finance 529

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. Rocket Mortgage began offering the recently revamped BorrowSmart Access program in March.

Debt-to-income ratio 407

Debt-to-income ratio Closing costs Finance Lending 407

Housing Wire

MAY 5, 2023

announced on Thursday that the Optimal Blue product, pricing and eligibility engine (PPE) has added investor content from 54 state-based housing finance agencies (HFAs). HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments.

Investor 374

Investor Finance MLS Closing costs 374

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 411

Banks Closing costs Lending Equity 411

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

Mortgages 374

Mortgages Loan Officer Marketing Seller concession 374

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

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

Fixed-rate mortgage 428

Fixed-rate mortgage Loans Mortgages Loan Officer 428

Housing Wire

NOVEMBER 30, 2022

Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate that are working to improve the housing industry through tech innovation. Among this impressive list of submissions, companies like 2022 TECH100 honoree Voxtur are working to improve the entire lending lifecycle.

Industrial 367

Industrial Title Lending Technology 367

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 412

Backup offer Loan Officer Home sale contingency Branding 412

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. This is a plus of homeownership, a fixed long-term debt cost while their wages rise every year.

Loans 544

Loans Banks Equity Closing costs 544

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. “You’ve The lender and LO can make or break the transaction.”

Agents 395

Agents Loan Officer Lending MLS 395

RIS Media

MAY 19, 2021

Non-Recurring Costs Associated With the Lender. Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. May vary widely between lenders and are not dependent on the cost of the loan. Lender Fee.

Closing costs 116

Closing costs Closing VA loan Pre-approval 116

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 406

Agents Seller concession Closing costs Mortgages 406

Housing Wire

MARCH 25, 2021

What it really comes down to is whether or not you feel comfortable paying a mortgage (and all the other fun expenses that come with having a home), while also paying off student loans. Here’s what to expect in the mortgage application process. 3 underrated mortgage products to consider. More for Real Estate Enthusiasts.

Debt-to-income ratio 497

Debt-to-income ratio Loans FHA loan Finance 497

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

Equity 364

Equity Finance Loans Development 364

The Residential Specialist

MAY 3, 2022

Banks and lending participants are using hidden and confusing fees to defraud your clients. Junk fees are itemized charges tacked on to the closing cost by the lender. The remaining charges are called junk fees and appear on closing statements under many names. Mortgage rate lock fee. What are junk fees?

Lending 97

Lending Closing costs Loans Banks 97

Redfin

APRIL 13, 2021

But what if you recently bought a home, are closing costs tax-deductible? Before answering that question, it’s a good idea to understand what closing costs are and what is typically included in them. What Are Closing Costs? Closing costs are the fees you pay when you obtain a mortgage loan.

Closing costs 68

Closing costs Closing Title search Title 68

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.

Banks 368

Banks Loans Equity Finance 368

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

Housing Wire

JUNE 13, 2022

While real estate professionals are perfectly positioned to introduce homebuyer assistance as a concept, home financing is not their schtick. And, importantly, financing borrowers with homebuyer assistance is good for business. When mortgage professionals have these talks, it’s important that borrowers understand the cost of waiting.

Finance 370

Finance Loans Closing Closing costs 370

Housing Wire

OCTOBER 19, 2021

trillion in mortgage originations, according to the Mortgage Bankers Association (MBA), as interest rates plunged, and COVID-19 accelerated an ongoing exodus from cities to the suburbs. Last year saw a record-breaking $3.83 HousingWire: How has the shift from a refi to a purchase market changed the dynamics for lenders?

Closing costs 379

Closing costs Technology Lending Mortgages 379

Realty Biz

FEBRUARY 12, 2023

Silverton Mortgage, a leading direct residential mortgage lender, is expanding its community and affordable lending efforts by offering down payment assistance programs by the Ohio Housing Finance Agency. The non-profit is supported by Silverton Mortgage employee giving, yearly fundraisers, and the generosity of donors.

Mortgages 79

Mortgages Pre-approval Lending Finance 79

HomeLight

AUGUST 31, 2022

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. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 made mortgage and other payments on time and.

Equity 102

Equity Finance Loans Closing costs 102

Realty Biz

AUGUST 27, 2022

In response to today’s pricey economy, Micheal “Mike” Price (Mortgage License #244007, Real Estate Salesperson License #720851), Owner and President of LTI Mortgage, now offers “The Hybrid Agent Program” to save buyers and investors lots of money. His company’s financing rates are lower than the majority of other lenders and banks.

Agents 76

Agents Mortgages Closing costs Finance 76

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

Loans 99

Loans Purchase and sale agreement VA loan Mortgages 99

Realty Biz

MARCH 7, 2023

Suppose you’re set on financing your first home in 2023. Then, you may have realized that your credit history and low income might not make you eligible for a traditional loan or bank mortgage. By examining your pay stubs, mortgage and loan lenders consider your gross income before taxes. And don’t forget!

Loans 74

Loans Debt-to-income ratio Closing costs Lending 74

Realtor.com

JANUARY 19, 2023

Getty Images If you have a fixed-rate mortgage , your payment is the same amount every month and never changes no matter how much the interest rates fluctuate. That’s where an adjustable-rate mortgage , or ARM, comes in. That’s where an adjustable-rate mortgage , or ARM, comes in. So, what’s the catch?

Fixed-rate mortgage 100

Fixed-rate mortgage Mortgages Closing costs Loans 100

Realtor.com

FEBRUARY 11, 2021

One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. But that doesn’t mean buying is always the best choice—as a renter, you enjoy more flexibility and avoid many of the costs that come with homeownership. Can you afford the closing costs?

Closing costs 145

Closing costs Debt-to-income ratio Inspection Closing 145

Realty Biz

FEBRUARY 7, 2023

We will discuss how to search for a lending institution you will love. Some people will search for mortgage lenders near me if they want their bank to be nearby. We will take you through the steps for choosing the best lender for your finances. For example, do you want a 30-year fixed or adjustable-rate mortgage?

Pre-approval 75

Pre-approval Mortgages Pre-qualification VA loan 75

Housing Wire

MAY 17, 2023

Rocket Mortgage ‘s top executives believe the mortgage market is near the bottom, which means a recovery may be on the horizon soon. So yes, we’re toward the bottom in that,” Bob Walters, CEO at Rocket Mortgage and president and COO at Rocket Companies , said. You may get a mortgage once every 10 years.

Marketing 362

Marketing Banks Mortgages Industrial 362

Realty Biz

JULY 12, 2023

As the cost of living rises, retirees should seek out ways to supplement their retirement income. A reverse mortgage program is one such income option for homeowners approaching retirement. There are a few types of reverse mortgage programs, but one of the most popular is the Home Equity Conversion Mortgage (HECM).

Equity 76

Equity Mortgages Loans Finance 76

Realtor.com

MARCH 12, 2021

Getty Images Mortgage rates are on the rise after nearly a year of record lows, providing a nudge to homeowners who want to refinance but didn’t get around to it yet. First find the difference between your current mortgage rate and the potential savings of a refinance offer. What if closing costs are too high?

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

HomeLight

JANUARY 23, 2023

As a homeowner feeling financial pressure, you might consider refinancing your mortgage to get a lower rate or selling your home to cash out on the steep rise in home values over the last few years. The choice may be a difficult one, however, given recent interest rate hikes and historically high housing costs.

Mortgages 100

Mortgages Fixed-rate mortgage Equity Loans 100

Realty Biz

FEBRUARY 27, 2023

Immediate Help: Dropping FHA Interest Rates One of the newest developments in housing affordability came recently when the White House announced it was slashing the interest rate on Federal Housing Administration mortgage insurance products. Current rates stand at 0.85 percentage points. percentage points.

Lending 102

Lending Equity Finance Mortgages 102

Redfin

DECEMBER 15, 2023

The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%. Fast forward to today, the Fed’s efforts to combat inflation have led to a substantial increase in interest rates, affecting many sectors that influence our economy, including mortgages.

Fixed-rate mortgage 67

Fixed-rate mortgage Mortgages Title search Equity 67