Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. Rocket Mortgage began offering the recently revamped BorrowSmart Access program in March.

Debt-to-income ratio 404

Debt-to-income ratio Closing costs Finance Lending 404

Housing Wire

MAY 3, 2023

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. The Fed’s move on Wednesday was well anticipated and should not cause a major shift in mortgage and other interest rates, experts noted.

Mortgages 386

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 386

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 382

Debt-to-income ratio Loans Mortgages Lending 382

Realty Biz

FEBRUARY 22, 2024

Glossy online listings behind your computer screen might fuel your dream home fantasy, but the home-buying process truly begins in earnest when a lender is contacted to be pre-approved for a mortgage. 5 Steps for a Pre-Approval for a Home Loan Do a Free Credit Score Check. Calculate the Debt-to-Income Ratio.

Pre-approval 82

Pre-approval Debt-to-income ratio Loans Banks 82

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. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Riches in the niches. trillion in 2022.

Debt-to-income ratio 350

Debt-to-income ratio Lending Loans Loan Officer 350

Housing Wire

AUGUST 5, 2022

Numerous organizations criticized the agencies for not proposing to grade banks based on data about their minority lending. Above all, we are extremely disappointed to see the lack of the explicit consideration of lending by race in a lender’s CRA rating,” wrote the St. Louis Equal Housing and Community Reinvestment Alliance.

Banks 406

Banks Debt-to-income ratio Lending Loans 406

Maximum Exposure Real Estate

AUGUST 16, 2023

A mortgage pre-approval is a crucial step in the home-buying process. During the pre-approval, lenders review financial information, such as credit score, income, and debt-to-income ratio, to determine the loan amount they are willing to lend. appeared first on Maximum Real Estate Exposure.

Pre-approval 98

Pre-approval Debt-to-income ratio Mortgages Lending 98

Inman

MAY 10, 2023

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

Debt-to-income ratio 146

Debt-to-income ratio Lending Mortgages Industrial 146

Housing Wire

MAY 21, 2021

The Community Home Lenders Association can’t speak for other nonbank sectors — but applying CRA to independent mortgage bankers seems like a solution in search of a problem. Therefore, the mortgage questions federal policymakers should be asking are: 1) Why do IMBs have a much better mortgage access to credit record than banks? (2)

Debt-to-income ratio 323

Debt-to-income ratio Banks Lending Loans 323

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). Toohig said Raymond James finished the year with some $1.1

Equity 367

Equity Marketing Debt-to-income ratio Lending 367

Housing Wire

JUNE 29, 2022

As market volume dips and pent-up demand builds, 61% of millennials and Gen Zs who intend to buy a home plan to apply for a mortgage this year. As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies.

Debt-to-income ratio 419

Debt-to-income ratio Loan Officer Loans Mortgages 419

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. For instance, processing non-QM loans manually can be prone to human error, cutting into the efficiency of a business.

Debt-to-income ratio 381

Debt-to-income ratio Lending Pre-qualification Loans 381

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. They work for lending institutions, such as banks and mortgage companies. Read this quick guide to understand how a real estate underwriter helps with the process.

Debt-to-income ratio 106

Debt-to-income ratio Mortgages FHA loan Loans 106

Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

Debt-to-income ratio 365

Debt-to-income ratio Equity Pre-approval Finance 365

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. They can go online and understand their FICO score, but mortgage credit scores are different. If an interest rate is too high, borrowers might look elsewhere.

Pre-qualification 433

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 433

Housing Wire

MARCH 4, 2021

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022. “At But Fannie Mae and Freddie Mac are not bound to this requirement, a condition known as the QM Patch.

Debt-to-income ratio 235

Debt-to-income ratio Loans Lending Mortgages 235

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. 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. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan 368

FHA loan Debt-to-income ratio Pre-approval VA loan 368

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Mortgage Options During Chapter 13 Bankruptcy.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

Housing Wire

AUGUST 23, 2023

According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. Better wants to sell this platform to other companies, becoming a “mortgage-as-a-service” company or a white-label provider of mortgage tech, Garg said. ” And what is Better.com best at?

Debt-to-income ratio 366

Debt-to-income ratio Technology Mortgages Pre-approval 366

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 335

Marketing Debt-to-income ratio Loans Mortgages 335

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. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 391

VA loan Agents Pre-approval Debt-to-income ratio 391

Realty Biz

AUGUST 16, 2023

Home equity loans are a popular option for homeowners who want to tap into the equity they've built up in their homes. Understanding home equity loans and their associated interest rates is critical for making informed financial decisions. As you pay down your mortgage and your home's value increases, your home equity grows.

Equity 72

Equity Loans Debt-to-income ratio Closing costs 72

Realtor.com

JANUARY 10, 2023

fizkes/iStock This may indeed be the case if you’ve found that perfect house, only to have lenders inform you that you don’t qualify for a mortgage. Even if you know how to scrimp and save to make your monthly mortgage payments, the bank doesn’t know how well you pinch pennies. Enter the co-signer.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Loans Banks 105

Housing Wire

MAY 14, 2021

A good credit score increases the likelihood of qualifying for a mortgage because it indicates to the lender that you’re more likely to make timely payments on your loan. This might result in thousands of dollars saved over the life of the loan. This can be done by obtaining a loan or line of credit, like a credit card.

Debt-to-income ratio 424

Debt-to-income ratio Loans Mortgages Lending 424

Realty Biz

JUNE 7, 2023

The journey to homeownership is an exciting adventure, and securing the best interest rates on home loans is the key to unlocking this special milestone. In this blog, we will share ten powerful strategies to help you understand home loans better and ensure you secure the most favorable interest rates possible.

Debt-to-income ratio 61

Debt-to-income ratio Loans Pre-approval Lending 61

Housing Wire

MARCH 30, 2021

The final rule established a pricing threshold that effectively replaced the debt-to-income limit of 43% with a price-based approach that gives lenders relief for loans capped at 150 basis points above the prime rate. Presented by: Proctor Loan Protector. “As

Debt-to-income ratio 414

Debt-to-income ratio Loans Mortgages Lending 414

Realtor.com

FEBRUARY 2, 2023

For most people to make that dream a reality, they’ll have to get approved for a home loan. To up your chances of being approved—at a favorable rate—it’s always smart to pay down debts or pay off existing loans to the best of your ability. Getty Images Buying a home of your very own is a dream.

Debt-to-income ratio 75

Debt-to-income ratio Loans Lending Finance 75

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. At that point, Dodson was actively working on a jumbo loan for friends of his from church. So when that happens, you don’t originate, you don’t lend at par for something at 88. So you stop.”.

Debt-to-income ratio 424

Debt-to-income ratio Loans Banks Mortgages 424

Realtor.com

FEBRUARY 2, 2022

But our mortgage and lending system can be especially challenging for retirees to navigate, simply because lenders prioritize income. And the lending and real estate laws can really differ. Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders.

Debt-to-income ratio 100

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 100

Marco Santarelli

OCTOBER 14, 2023

If you are thinking about buying a home or refinancing your current mortgage , you might be wondering how interest rates have changed over time and what factors affect them. In this blog post, we will take a look at the historical trends of mortgage rates in the U.S. How Have Mortgage Rates Changed by Year Since 1950?

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 88

Realty Biz

MAY 2, 2023

Before venturing into home buying, the first step is determining how much your mortgage loan will cost in the long run and your ability to afford it. Besides the cost and affordability, you may want to compare lenders to ensure you get the best deal before settling for one, and this is where a mortgage calculator comes in.

Debt-to-income ratio 85

Debt-to-income ratio Mortgages Principal Loans 85

Realty Biz

OCTOBER 21, 2020

Mortgage rates are at an all-time low, but that’s just too bad for the thousands of potential home buyers who’re missing out on the action due to tighter lending standards. But one year later, Ginnie Mae said it granted just 38% of its loans to borrowers with a FICO score of below 700.

Debt-to-income ratio 106

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 106

Realty Biz

DECEMBER 12, 2022

There are several things to consider when it comes to getting a mortgage. Most home buyers want to get the best mortgage rates and terms. We will cover everything you need to know about how to get a mortgage. What is a Mortgage? There are many different types of mortgages , including conventional, FHA, VA, and USDA loans.

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Pre-approval Pre-qualification 88

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. Bottom Line.

Debt-to-income ratio 243

Debt-to-income ratio Lending Equity Mortgages 243

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Lenders carefully assess tax returns and stable income to determine eligibility. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70

Realty Biz

MARCH 7, 2023

Then, you may have realized that your credit history and low income might not make you eligible for a traditional loan or bank mortgage. In that case, low-income housing programs will come to your rescue! How do lenders determine your income and eligibility for a loan? And don’t forget!

Loans 74

Loans Debt-to-income ratio Closing costs Lending 74