Housing Wire

NOVEMBER 4, 2024

As real estate practitioners adjust to the practice changes that took effect in August, and the industry waits for final approval of the NAR settlement from the court in November, questions continue about seller offers of compensation. These are the questions that advocates who want to upend the real estate industry further cannot answer.

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Debt-to-income ratio Agents VA loan MLS 304

Housing Wire

JANUARY 20, 2023

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. The changes include updates to pricing for second homes, high-balance loans and cash-out refinances that were first announced in 2022.

Debt-to-income ratio 541

Debt-to-income ratio Industrial Mortgages Loans 541

Housing Wire

FEBRUARY 13, 2025

The overall defect rate for mortgages declined across all loan types between the second and third quarters of 2024. Critical defects were found on 1.51% of all loans in the third quarter, a 17% decline from the defect rate of 1.81% in the second quarter. Income and employment was still the leading category for defects at 25%.

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Debt-to-income ratio Mortgages FHA loan Loans 254

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 504

Loans Debt-to-income ratio Lending Banks 504

Housing Wire

MAY 29, 2024

He wants to know whether the potential borrower has acquired a buy now, pay later (BNPL) loan. And an underwriter told us that she was required by her lender to count the debts that were on the bank statement, including the BNPL loans.” Racamato promptly called some lenders he partnered with to ask how they deal with BNPL loans.

Debt-to-income ratio 438

Debt-to-income ratio Mortgages Loans Banks 438

Housing Wire

SEPTEMBER 10, 2020

Q: What developments at the CFPB should the mortgage industry be watching? They’re centering on – there’s been a desire to move away from the so-called GSE Patch QM which is the Qualified Mortgage for loans that are held for sale to Fannie Mae and Freddie Mac that is scheduled for sunset on Jan. I think the industry will focus on that.

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Debt-to-income ratio Loans Mortgages Industrial 366

Housing Wire

SEPTEMBER 17, 2024

The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. DTIs on Fannie- and Freddie-backed loans have also risen, he said.

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Debt-to-income ratio Loans Lending Finance 404

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

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Loans Debt-to-income ratio Banks Mortgages 384

Housing Wire

DECEMBER 13, 2024

Mortgage application and origination activity dropped by roughly one-third from 2022 to 2023 as high interest rates depressed broader industry activity. The decline was sharper for refinances when compared with purchase loans, according to the report.

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Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 370

Housing Wire

SEPTEMBER 11, 2023

Meadow has 25 years of mortgage industry experience. He most recently served as the president of troubled, largely defunct retail lender Celebrity Home Loans. In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships.

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Housing Wire

MARCH 15, 2023

Following a chorus of complaints from the mortgage industry, the Federal Housing Finance Agency (FHFA) on Wednesday announced that it would delay the implementation of a new and controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios.

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Debt-to-income ratio Loans Mortgages Industrial 397

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S.

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Lending Mortgages Due diligence Debt-to-income ratio 450

Housing Wire

FEBRUARY 5, 2024

If 30-year rates fall to 6% by the fourth quarter, as the Mortgage Bankers Association (MBA) and Fannie Mae are currently predicting , the overall population of loans with a 75-bps refi incentive would more than double from 1.7 Nearly 60% of that growth would come from loans originated in 2023, ICE projected. million to 3.8

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Debt-to-income ratio Marketing Equity Loans 458

Housing Wire

MARCH 4, 2021

.” The bureau said: “extending the mandatory compliance date of the general QM final rule would allow lenders more time to offer QM loans based on the homeowners’ debt-to-income ratio, and not solely based on a pricing cut-off.”. This also only extends the dependency on government-supported loans.

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Debt-to-income ratio Finance Loans Mortgages 450

Housing Wire

APRIL 26, 2023

Federal Housing Finance Agency (FHFA) Director Sandra Thompson issued a statement Tuesday to correct the misinformation that’s spread about the agency’s loan-level pricing adjustments to conventional mortgages. No change is more controversial than the LLPA tied to a borrower’s debt-to-income ratio.

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Debt-to-income ratio Loans Mortgages Lending 384

Housing Wire

AUGUST 8, 2024

Although there is no doubt that business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement are going to impact how real estate industry professionals operate, economists aren’t too sure they’ll have much bearing on the housing market. “I

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Debt-to-income ratio Marketing Mortgages Days on market 466

Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. Riches in the niches. trillion in 2022.

Debt-to-income ratio 402

Debt-to-income ratio Lending Loans Loan Officer 402

Housing Wire

OCTOBER 29, 2021

LendingLife is a daily digest of the most important news and commentary edited and curated exclusively for mortgage loan originators. One outstanding matter that many in the mortgage industry wants resolved is the future of the 2020 General QM Rule. Industry and housing groups expect big things from FHFA. Join the community !

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Debt-to-income ratio Loans Mortgages Industrial 345

Housing Wire

OCTOBER 21, 2020

The current rule provides safe harbor protection to lenders from potential litigation brought by borrowers for loans having debt-to-income ratios of 43% or less. Beyond a borrower’s capacity, or ability to repay the loan are credit and collateral. The results are shown in the two graphs below.

Debt-to-income ratio 397

Debt-to-income ratio Loans Mortgages Lending 397

Housing Wire

AUGUST 5, 2022

The National Housing Conference , a trade association that represents mortgage lenders, was one of the few industry stakeholders that suggested the banking agencies push the boundaries a bit more. of bank loans. “In of mortgages and 5.9% The post Banking agencies get deluge of feedback on CRA proposal appeared first on HousingWire.

Banks 421

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Housing Wire

JANUARY 4, 2022

In total, UWM, through its conduit UWM Mortgage Trust, sponsored seven securitization deals last year involving nearly 9,500 loans valued in total at $3.9 In 2021, two of its seven private-label issuances involved jumbo loans with a combined value of $1.2 That’s a strong start for a new issuer. “A

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Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. With an anticipated doubling in market share in 2022 , non-QM products are top of mind for almost every mortgage industry professional.

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Debt-to-income ratio Lending Pre-qualification Loans 397

Housing Wire

AUGUST 22, 2024

We also had several conversations on this issue when I was Vice President for Federal Policy and Industry Relations at the National Association of Realtors. Unlike tangible assets, these costs are akin to personal loans with no collateral to recover in case of default.

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Debt-to-income ratio Finance Mortgages Banks 327

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

Closing 370

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Housing Wire

AUGUST 11, 2020

The Mortgage Bankers Association sent a letter on Monday to the Consumer Financial Protection Bureau asking for a six-month extension to the so-called “GSE patch” that allows Fannie Mae and Freddie Mac home loans to borrowers with high debt levels to be considered Qualified Mortgages.

Debt-to-income ratio 292

Debt-to-income ratio Mortgages Loans Finance 292

Keeping Current Matters

AUGUST 20, 2020

Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Some even worried that we might relive the 2006-2008 housing crash all over again.

Debt-to-income ratio 307

Debt-to-income ratio Lending Equity Mortgages 307

Housing Wire

AUGUST 27, 2021

Second , the reporters looked at conventional loans only, meaning loans only from Fannie Mae and Freddie Mac , and did not include loans from FHA / VA / USDA. The result here is that borrowers who have FICO scores below, say, 720 with a high loan to value (LTV) will often find a better deal by going to the FHA.

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Purchase and sale agreement Debt-to-income ratio Pre-approval Loans 421

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. He will also inform the listing agent that he is a veteran himself and implores them to ask any questions or express concerns they have about VA loans.

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VA loan Agents Pre-approval Debt-to-income ratio 397

Housing Wire

AUGUST 23, 2023

In that time, the market, the industry and the consumer changed dramatically. Secondly, we are going to continue to invest in our technology and drive products, like One Day Mortgage, that are innovative and groundbreaking and drive the adoption of those products across the industry. What happened, from your standpoint?

Debt-to-income ratio 370

Debt-to-income ratio Technology Mortgages Pre-approval 370

Housing Wire

MAY 3, 2023

The Federal Reserve affirmed on Wednesday that its next key federal funds rate hikes will depend on incoming data. In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates.

Mortgages 420

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 420

Housing Wire

JUNE 9, 2023

When looking at the nonbank share of all loans broken down by investor ( Fannie , Freddie , and Ginnie Mae ) the glaring data point that stands out is that nonbanks do well over 80% of all loans being made today. Unlike banks, they don’t do auto loans, credit cards, student loans, business lending, lines of credit and more.

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Banks Debt-to-income ratio Lending Loans 368

Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. Middleman pointed to average loan-to-value ratios of 50%, average debt-to-income ratios in the low 40% range, and credit scores in the low 700s as indicators of an “extraordinary” credit.

Mortgages 425

Mortgages Banks Debt-to-income ratio Loans 425

Housing Wire

JULY 25, 2023

BM: Lenders need to be aware of the insurance landscape as it can have a significant impact on their ability to efficiently close a loan due to availability and pricing. Accurately calculating a customer’s front-end debt-to-income ratio (DTI) requires accounting for all housing expenses, including homeowners insurance premium.

Marketing 370

Marketing Debt-to-income ratio Loan Officer Mortgages 370

Housing Wire

MARCH 10, 2023

Among the nonbanks that either have or plan to introduce HELOC loan products are United Wholesale Mortgage , Rocket Mortgage , Guaranteed Rate , loanDepot and New Residential Investment Corp. HELOCs rising Toohig’s sense of the HELOC market from his perch as a loan trader matches the broader rising market numbers for the product.

Equity 370

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BAM Media

JANUARY 7, 2025

On the positive side: Renters experienced spikes in incomes and savings early in the pandemic via stimulus payments and unemployment insurance. Renters benefited from student loan payment pauses disproportionately. Among first-time homebuyers, student loans are the second-largest obstacle to saving for a down payment.

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Debt-to-income ratio Loans As-is Industrial 105

Inman

MAY 10, 2023

Lending industry groups like the Mortgage Bankers Association called a fee based on borrower's debt-to-income ratio "unworkable."

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Debt-to-income ratio Lending Industrial Mortgages 158

RIS Media

DECEMBER 9, 2024

To help buyers overcome these hurdles, some financial firms offer outside-the-box solutions for cash-strapped Americans to qualify for a home loan. Student loan debt is a common obstacle for first-time and some repeat homebuyers.…

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Loans Debt-to-income ratio Mortgages As-is 105