Housing Wire

JUNE 22, 2023

Connecticut-based lender and servicer Planet Home Lending announced on Thursday a deal that boosts its servicing portfolio, which the company claims is already above the $90 billion mark. Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC.

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Housing Wire

MARCH 29, 2024

The response rate by mortgage companies to consumer complaints stands at 99%, according to the bureau, and relevant companies “closed 92% of complaints with an explanation, 2% with monetary relief, and 3% with non-monetary relief,” the report stated. As of March 1, 2024, less than 0.1% were pending with the bureau. The penalties totaled $1.7

Mortgages 434

Mortgages VA loan FHA loan Lending 434

Housing Wire

OCTOBER 19, 2023

By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% At closing, my client will get $10,000 of cash up-front. We are paying off her current mortgage balance of $280,000 while maintaining more than $200,000 in home equity,” said Anderson, who runs the mortgage broker shop Rancho Capital Home Loans.

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Mortgages FHA loan Equity Loans 484

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%

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FHA loan Mortgages Loan Officer VA loan 386

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?”

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FHA loan Loan Officer Loans Mortgages 370

Housing Wire

SEPTEMBER 21, 2021

Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said. The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process. Learn more here! Presented by: iEmergent.

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FHA loan Lending Technology Equity 455

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%

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Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. However, that’s not always the case.

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VA loan FHA loan Mortgages Lending 328

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements. USDA loans, on the other hand, are options for rural homebuyers.

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VA loan FHA loan Loans Banks 400

Housing Wire

MARCH 12, 2024

homeownership rate was close to a record high in census data going back to 2000. Financing options While the proportion of Latino buyers who used Federal Housing Administration ( FHA ) loans declined between 2018 and 2022, there may have been an uptick in 2023, according to NAHREP. of overall U.S. household formation growth.

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FHA loan Loans Finance Lending 463

Housing Wire

FEBRUARY 15, 2024

“We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. Then, once we were able to take the consumer from click to closing on Tinman, we were then able to start working on adding loan types to the process flow.”

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VA loan Loans Loan Officer FHA loan 413

Housing Wire

APRIL 4, 2022

The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD.

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FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Reich’s division has a goal of closing $1 billion in loan origination volume this year at Go Mortgage.

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Loans Mortgages Loan Officer Pre-approval 400

Housing Wire

AUGUST 16, 2023

HousingWire: 2023 has been rough for mortgage lending with mortgage applications down around 60%, what is CreditXpert seeing from a demand side when it comes to credit inquiries? MD: To begin with, we recommend that lenders work closely with their borrowers from the very beginning. What is your take on these changes?

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FHA loan Lending Mortgages Loans 370

Housing Wire

MARCH 12, 2024

Under current law, “prospective borrowers must receive HUD-approved housing counseling to qualify for a HECM, except a borrower can waive this requirement for a refinance if less than five years has passed since the closing date of their current HECM.” do not differ regionally,” Irwin said. “So

Mortgages 435

Mortgages FHA loan Loans Lending 435

Calculated Risk Real Estate

MAY 5, 2025

Press Release: ICE Mortgage Monitor: First-Time Homebuyers Comprise Record Share of Agency Purchase Lending in Q1 2025 Intercontinental Exchange, Inc. Notably, first-time homebuyers (FTHBs) accounted for a record share of agency purchase lending in Q1 2025 as higher interest rates continued to dampen repeat buyer participation in the market.

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FHA loan Mortgages Lending Loans 83

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

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FHA loan Loans Pre-approval Pre-qualification 111

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. Unlike Fannie and Freddie, however, Ginnie does not purchase loans.

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Mortgages Lending Loans Banks 370

HomeLight

AUGUST 31, 2021

The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. In 2020, only about 10% of all home loans were FHA-backed, according to the agency’s annual report.

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FHA loan Loans Debt-to-income ratio Banks 105

HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. How much house can you afford if you’re getting an FHA loan?

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FHA loan Loans Debt-to-income ratio Closing costs 104

Redfin

JANUARY 28, 2025

If you’re exploring mortgage options or looking to sell your home, whether its a charming home in Nashville or a spacious townhome in Houston , you might wonder: Are FHA loans assumable? Here’s how FHA assumable mortgages work and why they might be worth considering. Are FHA loans assumable?

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FHA loan Loans Closing costs Mortgages 31

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. We now have real credit risk, as prices are falling from the peak in some areas; late-cycle lending risk is always traditional. Not even close. So is housing in a recession? Yes, it is.

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Marketing Bankruptcy Sales FHA loan 546

Housing Wire

FEBRUARY 1, 2023

“Since that is the case, there is risk involved if buydowns exceed 10 percent of your GNMA production, so the concentration of buydowns in your pipeline should be monitored closely.” People pay a lot of attention to delinquency rates and FHA loans,” he said. “If

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Marketing FHA loan Loans Mortgages 413

The Mortgage Report

JUNE 10, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

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FHA 203k rehab loan VA loan FHA loan Pre-qualification 58

RIS Media

MAY 19, 2021

May vary widely between lenders and are not dependent on the cost of the loan. Items to Be Paid at Close of Escrow. VA funding fees and UFMIP are typically wrapped into the full loan balance. – Closing/escrow/settlement fee, title insurance, notary fee, recording fee, pest inspection, home inspection, home warranty.

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Closing costs Closing Pre-approval VA loan 116

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The higher the home’s sale price, the higher your closing costs.

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Purchase and sale agreement Property Management Hard money loan Renovation 105

Housing Wire

SEPTEMBER 13, 2024

Partial claims do not, on their own, require new monthly payments, but the amount must be repaid when the home is sold or refinanced, or when the loan is fully paid off.

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Loans Title Mortgages Design 436

The Close

MAY 20, 2025

Loan terms: 15-30 year fixed rate Time to funding: Within 60 days Minimum credit score: 620 Visit Pennymac Conventional commercial mortgage loans SBA 504 SBA 7(a) SBA microloans Business loans and lines of credit Commercial mortgage loan terms: Loan amount: $250,000-$5 million Interest rates: As low as 4.5%

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Loans FHA loan Commercial VA loan 52

HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? Your closing costs may differ depending on your circumstances and the terms of your home purchase. Massachusetts closing costs for homebuyers tend to run approximately 2.5% What are closing costs?

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HomeLight

JULY 31, 2022

How does a buyer’s loan type affect minimum property standards? According to the National Association of Realtors® Research Group’s 2021 data , 64% of buyers used conventional loans, 16% used FHA loans and 14% used VA loans. By comparison, to be eligible for an FHA loan, the property must meet U.S.

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Closing FHA loan Purchase and sale agreement Inspection 98

Rent, Buy & Sell

FEBRUARY 7, 2021

As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record.

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Loans VA loan FHA loan Hard money loan 98

HomeLight

SEPTEMBER 2, 2021

Here, we’ll walk you through one of the best-known and most widely utilized tools that can help get you those keys: the FHA loan. Read on for more about these loans, the down payment assistance programs associated with them, and some different down payment assistance programs to consider when you buy your first home.

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FHA loan Debt-to-income ratio Loans Equity 109

The Mortgage Report

JUNE 9, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? Check your home buying options.

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FHA 203k rehab loan FHA loan VA loan Pre-approval 40

HomeLight

NOVEMBER 20, 2023

Along with the obvious advantage of a lower interest rate, an assumed loan can also come with fewer transaction fees and greater speed. Instead of securing a new mortgage with higher rates, a buyer can assume the home seller’s existing interest rate, principal balance, repayment period, and other terms of the lending agreement. “A

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FHA loan Mortgages VA loan Loans 115

HomeLight

JUNE 15, 2023

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

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Closing costs Closing Title Inspection 98

HomeLight

OCTOBER 2, 2020

You’re thinking of switching mortgage lenders before closing. Will you regret making the switch before closing? Why you might think about switching mortgage lenders before closing. Yes, it is possible to switch lenders before closing. This option can typically only be used once during the closing process.

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Closing Mortgages Loans Closing costs 97

HomeLight

SEPTEMBER 30, 2020

The mortgage insurance protects lenders in case the buyer defaults on the loan, allowing those lenders to serve more borrowers. Buyers with lower credit scores or lower down payments can sometimes get an FHA loan even if they can’t get approved for a conventional loan. Pretty big perks! of the purchase price.

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Earnest money deposit FHA loan Pre-approval Finance 98