Housing Wire

DECEMBER 9, 2024

Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. Many sellers are offering to cover 2-3% of closing costs.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

FEBRUARY 23, 2024

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023.

Industrial 458

Industrial Closing FHA loan Loans 458

Housing Wire

MAY 5, 2025

has the smallest share of Gen Z homebuyers at 7% of all purchase mortgages and 11% of first-time buyer loans. California follows closely behind, with Gen Z making up 8% of purchase mortgage and 13% of first-time buyer loans. Washington, D.C., ICE said that Southern states lead for delinquency rates of at least 90 days.

Lending 306

Lending FHA loan VA loan Loans 306

Housing Wire

MAY 26, 2021

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The percentage of purchase mortgages increased to 43% of total closed loans.

Closing 450

Closing Mortgages VA loan FHA loan 450

Housing Wire

JANUARY 9, 2025

The column is likely referencing the Home Equity Conversion Mortgage ( HECM ) program insured by the Federal Housing Administration (FHA). Loan proceeds are dependent on the amount of equity in the home and current interest rates, the column noted, and there are multiple disbursement options available, the column noted.

FHA loan 367

FHA loan Mortgages Equity Closing costs 367

Housing Wire

FEBRUARY 6, 2025

Multistate mortgage lender Click n’ Close on Thursday announced that it’s adding a 30-year, fixed-rate conventional loan option to its SmartBuy Shared Appreciation Mortgage (SAM) program. SAM loans grant the lender a share of the home’s future appreciation in exchange for a lower interest rate. to 5% down.

Loans 229

Loans Closing Mortgages Technology 229

Housing Wire

JULY 21, 2023

Housing affordability remains dangerously close to the 37-year lows reached late last year, despite the Federal Reserve’s attempts to cool the market,” said Andy Walden, Black Knight ’s vice president of enterprise research.

FHA loan 368

FHA loan Loans Mortgages Sales 368

Housing Wire

MARCH 5, 2025

According to the MBA, rates for Federal Housing Administration (FHA) loans dipped to 6.42%, while refinance activity posted its fastest pace since October 2024. “Since government loans tend to have lower interest rates and easier qualifications than conventional loans, the increase is exacerbated with these programs.

Loan Officer 257

Loan Officer Loans VA loan FHA loan 257

Housing Wire

SEPTEMBER 9, 2024

the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. Better Home & Finance Holding Co. , In its second-quarter 2024 financial earnings, Better.com posted a net loss of $42.2 million, an improvement from the previous quarter’s loss of $51.5 million.

FHA loan 421

FHA loan Loans Closing costs Finance 421

Housing Wire

NOVEMBER 10, 2023

FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In September, government-insured FHA loans represented a little over 15% of U.S. In cities with a notable military presence, VA loans have high usage.

FHA loan 441

FHA loan VA loan Mortgages Loans 441

Housing Wire

MAY 1, 2025

Dombrowski says his team has closed several successful off-market deals that satisfied both parties. Letting deals happen behind closed doors is the opposite of fair play. “They closed within 30 days, and the seller never reached Chicago. But what about the average family using an FHA loan?

Agents 376

Agents Marketing MLS FHA loan 376

Housing Wire

AUGUST 12, 2024

They are usually used to finance the down payment or closing costs and typically work in an 80-10-10 structure with the first mortgage covering 80% of the total cost, the piggyback covering 10% and the borrower paying the remaining 10%. However, despite wide expectations that home prices will continue to rise and that the U.S.

Loans 450

Loans FHA loan Equity Closing costs 450

Housing Wire

DECEMBER 2, 2020

counties where the median home price far exceeds the FHA’s loan limit floor, the FHA is increasing its 2021 loan limit to $822,375, close to a whopping $57,000 increase over 2020’s total of $765,600. In those areas, the 2020 FHA loan limit is $1,233,550. In approximately 65 high-cost U.S.

Loans 533

Loans FHA loan Mortgages Construction 533

Housing Wire

MAY 15, 2025

Post-closing quality control data is collected through ACES quality management and control software and offers a snapshot of mortgage industry underwriting trends. Legal/regulatory/compliance emerged as the leading defect category in Q4, followed closely by assets and income/employment. from the third quarter to reach 1.16%.

VA loan 214

VA loan Mortgages FHA loan Loans 214

Housing Wire

FEBRUARY 13, 2025

ACES releases a quarterly report that uses post-closing quality control data that’s derived from the company’s benchmarking system. Loan applicants also struggled as rising premiums made it difficult for them to qualify for mortgages due to higher debt-to-income ratios.

Debt-to-income ratio 254

Debt-to-income ratio Mortgages FHA loan Loans 254

Housing Wire

NOVEMBER 9, 2023

A total of 224 programs will fund certain upfront loan fees including the upfront mortgage insurance premium on FHA loans , the funding fee on VA loans and the guarantee fees on USDA loans. About 74% of the 2,256 homebuyer assistance programs are down payment and closing cost assistance programs.

FHA loan 458

FHA loan VA loan Finance Loans 458

Housing Wire

OCTOBER 16, 2024

“Eliminating the need to manually underwrite the vast majority of appraisals goes well beyond a technology improvement and truly allows lenders to close loans faster at a lower cost.”

FHA loan 409

FHA loan Mortgages Loans Technology 409

Housing Wire

DECEMBER 18, 2020

You may also be able to use an FHA loan to buy your home, but there are caveats. Since FHA loans are designed for primary residences only, you’ll need to live in the home for at least a year before renting it out. You will also need to move into the home within 60 days of closing on your loan).

FHA loan 466

FHA loan Hard money loan Loans Loan Officer 466

Housing Wire

MARCH 25, 2021

Members of the mortgage insurance industry worked closely with federal policymakers, industry groups, and consumer organizations to support homeowners experiencing financial hardship due to the COVID-19 pandemic, according to Lindsey Johnson, the president of industry trade group U.S. . The result was approximately $1.3

Industrial 544

Industrial Mortgages FHA loan Finance 544

Housing Wire

MARCH 29, 2022

billion worth of FHA loans, while wholesale lenders originated $57.64 The top FHA mortgage originator by volume was Freedom Mortgage Corp. billion worth of loans, a 16% decline from 2020. Rocket Mortgage came in a close second by volume, increasing originations by 54% year-over-year to $25.48 of FHA applicants.

FHA loan 384

FHA loan Loans Mortgages Residential 384

Housing Wire

NOVEMBER 16, 2020

Mortgage insurance is required on all FHA loans, and it’s sometimes required on conventional mortgages, too. On conventional loans, you’ll only need private mortgage insurance (called PMI) if you make a down payment under 20% — and even then, not always. You’ll also pay the premium both upfront — at closing — and monthly. .

FHA loan 441

FHA loan Mortgages Loan Officer Loans 441

Housing Wire

JUNE 11, 2024

Following the decision, FHA loans already underwritten and approved by a Direct Endorsement underwriter, as well as cases with a firm commitment issued by HUD, may be submitted for insurance endorsement. Cases in the early stages may be transferred to other lenders with an FHA approval.

FHA loan 448

FHA loan Mortgages Loan Officer Loans 448

Housing Wire

DECEMBER 28, 2023

It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings. According to data from Ingenius , tens of thousands of loan officers exited the industry in 2023. An additional 21% closed 1.5 That’s the tactic that we take.”

Loans 432

Loans FHA loan Mortgages Loan Officer 432

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based of purchase loans that Fannie Mae closed were above 95% LTV, according to the Urban Institute. People should shop, right?”

FHA loan 370

FHA loan Loan Officer Loans Mortgages 370

Housing Wire

MARCH 22, 2023

Today’s buyers are also able to save money in other ways: Nearly half of sellers are offering concessions, like helping pay for a mortgage-rate buydown or covering closing costs, to attract buyers.” The less competitive market has also resulted in more buyers using FHA and VA loans. a year prior. of all mortgaged home sales.

VA loan 410

VA loan FHA loan Loans Mortgages 410

Housing Wire

MARCH 25, 2021

Gone are the days when you had to put 20% down to get approved for a loan to purchase a home. For example, a conventional loan lets you put as little as 3% down. An FHA loan requires as little as 3.5% One good thing about student loans is they typically don’t have as high of an interest rate as other loans.

Debt-to-income ratio 500

Debt-to-income ratio Loans FHA loan Finance 500

Housing Wire

DECEMBER 8, 2021

Regarding the purchase market, Kan said mortgage applications fell after four consecutive increases, but activity is still close to the highest level since March, a positive sign. VA loans comprised 10.7%, increasing seven basis points. Meanwhile, FHA loans went from 8.9% Refinance apps fell 36.5% in the same period.

FHA loan 441

FHA loan Mortgages VA loan Fixed-rate mortgage 441

Housing Wire

APRIL 9, 2024

This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

FHA loan 450

FHA loan Loans Title Banks 450

Housing Wire

DECEMBER 13, 2023

The UWM’s discounted rates apply to the FHA Streamline program, which offers a simplified refinance process with reduced documentation requirements on Federal Housing Administration (FHA) loans. ” Top wholesale lenders have launched new initiatives to boost production at the end of 2023.

Loans 456

Loans VA loan FHA loan Mortgages 456

Housing Wire

JANUARY 4, 2023

After Finance of America Companies closed its forward mortgage origination unit in October, a total of 21 FoA retail branches transitioned to Go Mortgage, said Steven Reich, a division president at Go Mortgage and former executive at FoA, in an interview with HousingWire. “Refis are the easier product of the industry,” Reich said. “We

Mortgages 496

Mortgages FHA loan Loan Officer Construction 496

Housing Wire

NOVEMBER 16, 2020

The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. The exact cost of this varies based on your loan balance and down payment. Unlike the mortgage insurance on FHA loans, PMI is cancellable after you’ve paid off enough of your loan.

VA loan 485

VA loan FHA loan Mortgages Loans 485

Housing Wire

FEBRUARY 7, 2023

Servicers can only charge up to $900 to process, underwrite and close a transaction that includes a loan assumption. By the Mortgage Bankers Association ’s estimate, it takes on average about $2,500 to process, underwrite and close a government loan. Tozer suggested “a fee of 1.3%

FHA loan 384

FHA loan Mortgages Loan Officer VA loan 384

Housing Wire

JUNE 3, 2022

Since then, Lakeview has unveiled two additional PLS offerings involving pools of delinquent FHA loans also securitized via Ginnie Mae. The more recent offerings — Lakeview Trust 2022-EBO2, which closed in late April; and Lakeview Trust 2022-EBO3, set to close in early June — also involve EBO loans, according to KBRA ratings reports.

Loans 397

Loans FHA loan Principal Marketing 397

Housing Wire

DECEMBER 21, 2023

While delinquencies remain low overall, the number of delinquent loans ticked up in November, according to the latest ICE Mortgage Monitor report. Furthermore, the delinquency rate among FHA loans is at a nine-year high, and will be worth watching closely in 2024, the report said.

Mortgages 431

Mortgages VA loan FHA loan Staging 431

Housing Wire

DECEMBER 23, 2020

Borrowers looking to refinance their VA and FHA loans contributed to another uptick in mortgage applications for the week ending Dec. Mortgage rates are closing the year at record lows,” Kan said. 18, according to the latest report from the Mortgage Bankers Association. Mortgage applications jumped 0.8%

Fixed-rate mortgage 538

Fixed-rate mortgage Mortgages FHA loan Loans 538

Housing Wire

JANUARY 3, 2024

The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, according to Joel Kan, MBA’s vice president and deputy chief economist. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% Mortgage applications decreased 9.4%

Mortgages 431

Mortgages VA loan FHA loan Loans 431

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. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

VA loan 458

VA loan Agents Seller concession FHA loan 458