Housing Wire

NOVEMBER 4, 2024

The third party origination (TPO) division of Rocket Mortgage on Monday announced the rollout of its latest product, 24 Takeoff, which allows mortgage broker partners to receive a 24 basis point credit on all eligible loans until Nov. 29, which gave borrowers a 75-basis-point rate cut on various refinancing options.

FHA loan 369

FHA loan Mortgages Marketing Loans 369

Housing Wire

DECEMBER 2, 2020

Given massive year-over-year gains in home prices , the Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760. LOs are only human — Tech is necessary to keep up with max loan volumes.

Loans 533

Loans FHA loan Mortgages Construction 533

Housing Wire

MAY 5, 2025

Gen Z was responsible for one in four loans issued to first-time homebuyers. And despite tightened affordability , first-time buyer purchase lending has held up better than activity among repeat buyers compared to 2018 and 2019 especially for conventional loans through the government-sponsored enterprises ( GSEs ). Washington, D.C.,

Lending 306

Lending FHA loan VA loan Loans 306

Housing Wire

AUGUST 12, 2024

The share of piggybacked Federal Housing Administration (FHA) home purchase loans rose by more than seven percentage points from June 2022 to June 2024, going from 10.8% for conventional purchase loans backed by Fannie Mae and Freddie Mac. The calculations were based on the number of purchase loans in CoreLogic public records.

Loans 450

Loans FHA loan Equity Closing costs 450

Housing Wire

NOVEMBER 20, 2020

Ellie Mae ’s Origination Insight report for October demonstrates some of the side effects of the historically low mortgage rates we’ve seen in 2020: incredibly high volume and an increase in time-to-close. FHA loans remained the same, holding steady at 3.01% in October. The number of closed loans increased 7.1%

Closing 441

Closing FHA loan Mortgages VA loan 441

Housing Wire

MARCH 25, 2021

Do I need to pay off my student loans before buying my first home? 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. For example, a conventional loan lets you put as little as 3% down.

Debt-to-income ratio 500

Debt-to-income ratio Loans FHA loan Finance 500

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

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. points – on FHA and VA refinances available to brokers until Jan. points, 5.999% paying 2 points and 6.249% paying 2.5

Loans 456

Loans VA loan FHA loan Mortgages 456

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

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. He added that reinsurance costs have more than tripled over the past three years.

Industrial 458

Industrial Closing FHA loan Loans 458

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Loans 432

Loans FHA loan Mortgages Loan Officer 432

Housing Wire

JULY 21, 2023

These loans would still have access to all the features of the FHA streamline refinance program, allowing borrowers to reduce their payments if they stay on their new mortgage. The lender could charge the borrower a 1% higher interest rate to fund a 3.5%

FHA loan 368

FHA loan Loans Mortgages Sales 368

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

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 397

Loans FHA loan Principal Marketing 397

Housing Wire

FEBRUARY 13, 2025

The overall defect rate for mortgages declined across all loan types between the second and third quarters of 2024. ACES releases a quarterly report that uses post-closing quality control data that’s derived from the company’s benchmarking system. Income and employment was still the leading category for defects at 25%.

Debt-to-income ratio 254

Debt-to-income ratio Mortgages FHA loan Loans 254

Housing Wire

SEPTEMBER 9, 2024

the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. The streamline refi program enables FHA borrowers to refinance their mortgage by reducing underwriting requirements for income verifications and appraisals. Better Home & Finance Holding Co. ,

FHA loan 421

FHA loan Loans Closing costs Finance 421

Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. Meanwhile, military VA loans represented 6.3% in April 2023.

FHA loan 441

FHA loan VA loan Mortgages Loans 441

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

SEPTEMBER 19, 2024

But the increase itself was relatively modest and the share of loans with defects now stands at 1.58%, according to a report released Thursday by ACES Quality Management. The company’s Mortgage QC Industry Trends Report analyzes post-closing quality control data taken from its Quality Management & Control software platform.

Loans 387

Loans Mortgages FHA loan Industrial 387

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. 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. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 406

VA loan Loans Loan Officer FHA loan 406

Housing Wire

OCTOBER 11, 2023

Application activity remains depressed and close to multi-decade lows, with purchase applications still almost 20% behind last year’s pace,” Joel Kan, MBA’s vice president and deputy chief economist, said in a news release. of all loan applications, the highest share since November 2022. Mortgage applications picked up 0.6% from 14.5%

Loans 386

Loans VA loan FHA loan Mortgages 386

Housing Wire

MAY 24, 2024

Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans. How student loans impact your ability to buy a home Adding a mortgage on top of monthly student loan payments can create a significant financial strain.

Debt-to-income ratio 439

Debt-to-income ratio Loans Pre-approval VA loan 439

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 Presented by: Proctor Loan Protector.

Industrial 544

Industrial Mortgages FHA loan Finance 544

Housing Wire

OCTOBER 16, 2024

Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. ” Loan buyback requests from the government-sponsored enterprises Fannie Mae and Freddie Mac have been long-enduring and expensive proposition for lenders. decline from Q1 2024.

FHA loan 409

FHA loan Mortgages Loans Technology 409

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

DECEMBER 18, 2020

Conventional loans. A conventional loan is a smart way to finance an income-earning property. If you plan to use the property as an investment (you’ll have to indicate so on your loan application), then you could face more stringent qualifying requirements. The loan also might come with a higher interest rate.

FHA loan 466

FHA loan Hard money loan Loans Loan Officer 466

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. In turn, thousands of loan originators could soon be looking for a new lender to hang their license.

Loans 397

Loans Mortgages Loan Officer Pre-approval 397

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

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Instead, these policies pay for the lender’s losses if you fall behind on your mortgage and fail to repay your loan. 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

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Most of its loans during the past year were in Kansas (12.5%), Mississippi (11.4%) and Florida (9.7%). Iowa was responsible for 3.4% of the total, Modex data shows.

FHA loan 448

FHA loan Mortgages Loan Officer Loans 448

Housing Wire

MARCH 29, 2022

Origination volume for FHA -insured loans increased by 3% in 2021, growing from $324 billion in 2020 to $332.24 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.

FHA loan 384

FHA loan Loans Mortgages Residential 384

Housing Wire

DECEMBER 8, 2021

The trade group estimates the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) decreased to 3.30%, one basis point down from the previous week. For jumbo mortgage loans (greater than $548,250), rates rose to 3.33% from 3.27% the week prior. VA loans comprised 10.7%, increasing seven basis points.

FHA loan 441

FHA loan Mortgages VA loan Fixed-rate mortgage 441

Housing Wire

NOVEMBER 16, 2020

Here are your choices: FHA mortgages. FHA mortgages are insured by the Federal Housing Administration. They allow for lower credit scores than most other loans. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. USDA loans.

VA loan 485

VA loan FHA loan Mortgages Loans 485

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

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

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

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

FHA loan 450

FHA loan Loans Title Banks 450