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.

Debt-to-income ratio 303

Debt-to-income ratio Loans Mortgages Industrial 303

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

Debt-to-income ratio 432

Debt-to-income ratio Marketing Equity Loans 432

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.

Debt-to-income ratio 330

Debt-to-income ratio Sales Purchase and sale agreement Loans 330

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.

Debt-to-income ratio 393

Debt-to-income ratio Loans Mortgages Industrial 393

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.

Debt-to-income ratio 381

Debt-to-income ratio Loans Mortgages Lending 381

Housing Wire

MAY 2, 2023

A coalition of fiscal officers from 27 state governments called on the Biden administration and the Federal Housing Finance Agency (FHFA) to scrap the loan-level pricing adjustment (LLPA) fee changes that went into effect on May 1. So that’s what the real outrage is,” the production manager said.

Debt-to-income ratio 401

Debt-to-income ratio Loan Officer FHA loan Loans 401

Housing Wire

JUNE 21, 2022

The revised rule removed the old rule’s 43% debt to income ratio limit, replacing it with price-based thresholds. The revised standard stated that a mortgage meets the “ability to repay” standard if the annual percentage rate does not greatly exceed the average prime offer rate for a similar loan.

Debt-to-income ratio 395

Debt-to-income ratio Loans Lending Mortgages 395

Broke Agent Media

MAY 11, 2023

The decision comes after the FHFA announced a delayed implementation to better understand the concerns of industry stakeholders. Industry professionals are rejoicing after the Federal Housing Finance Agency (FHFA) announced that it has rescinded upfront fees based on borrowers’ DTI ratio for loans acquired by Fannie Mae and Freddie Mac.

Industrial 98

Industrial Debt-to-income ratio Finance Loans 98

Housing Wire

DECEMBER 14, 2021

Laurie Goodman, founder of the Housing Finance Policy Center at the Urban Institute and Ellen Seidman, a non-resident fellow at the policy think tank, found that the share of recent bank purchase loans to minority borrowers actually lags the existing share of minority homeowners. of recent bank purchase loans were made to minority homeowners.

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Debt-to-income ratio Banks Loans Finance 311

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 344

Closing Fixed-rate mortgage Debt-to-income ratio Lending 344

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 Mortgages Industrial 137

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 351

Debt-to-income ratio Technology Mortgages Pre-approval 351

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 !

Debt-to-income ratio 256

Debt-to-income ratio Loans Mortgages Industrial 256

Housing Wire

FEBRUARY 6, 2023

Along the way they have impacted other cells in the matrix that have higher credit scores and lower LTVs with some increases as well as increases to things like cash out refinances and high balance loans. 25% – 375% should their debt-to-income ratio drift above 40%.

Debt-to-income ratio 429

Debt-to-income ratio Pre-approval Loans Mortgages 429

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.

Lending 404

Lending Mortgages Due diligence Debt-to-income ratio 404

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.

Debt-to-income ratio 418

Debt-to-income ratio Finance Loans Mortgages 418

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 315

Debt-to-income ratio Lending Loans Loan Officer 315

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 385

Banks Debt-to-income ratio Lending Loans 385

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.

Banks 302

Banks Debt-to-income ratio Lending Loans 302

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.

Debt-to-income ratio 356

Debt-to-income ratio Lending Pre-qualification Loans 356

Realty Biz

MARCH 12, 2023

A real estate underwriter plays a critical role in the mortgage industry by evaluating loan applications and assessing real estate investment-associated risks. Evaluates Loan Applications An underwriter reviews the loan application to determine whether the borrower meets the lender's eligibility criteria.

Debt-to-income ratio 106

Debt-to-income ratio Mortgages FHA loan Loans 106

Broke Agent Media

JANUARY 9, 2023

According to a new analysis by Zillow Home Loans, recent updates to conforming loan limits mean over 2 million U.S. homes no longer require a jumbo loan. . The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost markets, making them more accessible to buyers.

Loans 98

Loans Debt-to-income ratio Finance Loan Officer 98

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 376

Debt-to-income ratio Loans Mortgages Lending 376

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.

Debt-to-income ratio 344

Debt-to-income ratio Marketing Mortgages Loan Officer 344

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 237

Debt-to-income ratio Mortgages Loans Investor 237

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

Marketing 299

Marketing Debt-to-income ratio Loans Mortgages 299

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 352

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 352

HomeLight

MARCH 9, 2023

Disclaimer: This post about loan and assistance programs for low-income and minority homebuyers is provided for educational purposes and does not constitute financial advice. We’ve gathered information about assistance programs and their various options, from loans to down payment assistance. However, there is help out there.

Loans 65

Loans Debt-to-income ratio VA loan FHA loan 65

Housing Wire

DECEMBER 31, 2020

Due to charter limits and credit policy, GSE-eligible mortgages are homogeneous, providing little room for product differentiation other than through changes in key risk attributes such as credit score, loan-to-value or debt-to-income ratio or loan documentation, among others.

Debt-to-income ratio 457

Debt-to-income ratio Finance Mortgages Banks 457

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.

VA loan 378

VA loan Agents Pre-approval Debt-to-income ratio 378

Realty Biz

AUGUST 20, 2023

During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. This thorough assessment determines how much you can borrow, which loans you may be approved for, and the potential interest rate. Otherwise, you may need to apply for a bad credit home loan.

Pre-approval 93

Pre-approval Debt-to-income ratio Mortgages Loans 93

Real Trends

MARCH 8, 2023

Note: Legally, a lender must give the reason a borrower is being denied their loan. Would changing the loan program change the requirement? The seller can make interest on this loan, file it as a lien using the title company and require it to be paid off in a certain time frame. Ratio issues What does this even mean?

Debt-to-income ratio 94

Debt-to-income ratio Finance Backup offer Agents 94

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 241

Debt-to-income ratio Lending Equity Mortgages 241

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 353

Equity Marketing Debt-to-income ratio Lending 353

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio 85

Debt-to-income ratio Mortgages FHA loan Loans 85

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.

Debt-to-income ratio 370

Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 370

Realty Biz

JULY 23, 2023

Buying a Home with 1099 Income: A Comprehensive Guide for US Buyers Buying a Home with 1099 Income can present unique challenges for self-employed individuals. Understanding the implications of 1099 income on mortgage loans is crucial. Lenders carefully assess tax returns and stable income to determine eligibility.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70