Housing Wire

MARCH 21, 2025

housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. A NerdWallet report with second-quarter 2024 data found that the average monthly housing payment was $3,500 or 49% of the median income for those in the typical first-time homebuyer age group.

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Housing Wire

FEBRUARY 6, 2025

New data released Thursday by the Mortgage Bankers Association (MBA) revealed that the delinquency rate for mortgages on one- to four-unit residential properties increased to a seasonally adjusted rate of 3.98% of all loans outstanding at the end of 2024.

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Housing Wire

OCTOBER 30, 2024

But public filings analyzed by Inside Mortgage Finance revealed that seller repurchases rose to $430 million in the second quarter of 2024 — a 29% increase from the previous quarter. Mittal spoke to HousingWire this week during the Mortgage Bankers Association (MBA)’s Annual Conference and Expo in Denver. points,” Mittal said. “In

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Housing Wire

MAY 8, 2025

If you believe you can originate mortgages today in the same way they were done in 2018, youve probably been on a very remote island since then. Thats probably not entirely true, but few mortgage professionals can remember a period of such extended turbulence, and that includes the early years of the Great Recession.

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Housing Wire

NOVEMBER 4, 2024

This tactic will only work if the home appraises at the higher value, of course—leaving the consumer with a larger mortgage and monthly payment. Assuming financial regulators would spend the years necessary to make the changes, a commission cannot be added into a mortgage unless the home appraises at the higher value.

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Housing Wire

AUGUST 18, 2020

The Consumer Financial Protection Bureau is proposing a new category of qualified mortgages called Seasoned QM, which would require loans to meet certain performance requirements over a 36-month seasoning period. The post CFPB proposes a new category of qualified mortgages: Seasoned QM appeared first on HousingWire.

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Housing Wire

JANUARY 20, 2021

And not just research on the best down payment or neighborhood to live in – you should also search the right mortgage lender. . The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. The good news, it’s easy to find a mortgage lender. Buying a home?

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Housing Wire

SEPTEMBER 9, 2020

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021. Under § 1026.43(c)(2)(vii), Section 1026.43(c)

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Housing Wire

MAY 29, 2024

Earlier this year, New Jersey-based mortgage broker Joe Racamato, president of Silex Financial Group Inc., Traditionally, Silex Financial Group ran the initial numbers for a potential borrower to qualify for a mortgage based on what’s on their credit report, according to Racamato. Meanwhile, BNPL loans are growing rapidly. “But,

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Real Estate News

MAY 10, 2023

1, were opposed by industry groups including NAR and the Mortgage Bankers Association. The fees, which were scheduled to go into effect on Aug.

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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.

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Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday.

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Housing Wire

JANUARY 25, 2021

Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. But a recent study from tech startup Haus found that mortgage rates can also be seasonal, and borrowers can benefit from understanding that rhythm. Analyzing over 8.5

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Housing Wire

MARCH 20, 2025

Whatever that looks like, they’re kind of maxing out with the debt-to-income ratio. I do think the price of a mortgage should go down, he said. Financial factors, including mortgage rates and home equity , are the main drivers for around one-third of Gen X and Baby Boomers. They’re getting a loan.

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Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Often, traditional mortgage products don’t meet their needs.

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Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023.

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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. That’s according to Home Mortgage Disclosure Act (HMDA) data published by the Consumer Financial Protection Bureau (CFPB) in a report released Friday.

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Housing Wire

MARCH 25, 2021

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. Here’s what to expect in the mortgage application process. 3 underrated mortgage products to consider. Your Debt-To-Income Ratio Is High.

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Housing Wire

SEPTEMBER 10, 2020

and co-leader of the law firm’s mortgage practice group, to talk about regulatory proposals being considered by the Consumer Financial Protection Bureau. Q: What developments at the CFPB should the mortgage industry be watching? A: Probably among them is the Ability to Repay, Qualified Mortgage proposals.

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HomeLight

FEBRUARY 7, 2025

Your ability to finance a home purchase often hinges on a metric called a “debt-to-income ratio” (DTI) a percentage that shows how much of your monthly income goes toward debt payments. A debt-to-income ratio for a mortgage is a key that can open or lock the door to homeownership.

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Housing Wire

APRIL 24, 2024

Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage. In September 2023, to support its operations, Freedom Mortgage raised $1.3 compared to the previous year.

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Housing Wire

MAY 24, 2024

In fact, according to a recent study, millennials currently struggle with so much debt that 25% worry they won’t qualify for a mortgage. 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.

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Housing Wire

AUGUST 8, 2024

Incomes, wealth, life events, mortgage rates all play a role in determining housing demand, while on the supply side we have land costs, government regulations in terms of zoning rules, geographic constraints to building and builder financing costs,” Divounguy added. “Now

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Housing Wire

OCTOBER 27, 2020

Your credit plays a huge part in your ability to get a mortgage. According to the most recent data from mortgage technology provider Ellie Mae, the average FICO score on a purchase loan was 752 in August 2020. Myth 2: You can’t buy a house if you have lots of student loan debt. Fortunately, that’s just not true.

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Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept.

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Housing Wire

NOVEMBER 7, 2023

And how should mortgage firms rethink tech strategy? Below I run down these hot topics and look forward to going deeper with fellow mortgage CEOs on a HousingWire webinar December 5. What’s next for the inflation fight and mortgage rates? trillion per Urban Institute , and total mortgages outstanding are $13.9

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Housing Wire

APRIL 7, 2021

In fact, depending on where you live, your monthly rent could be more expensive than your monthly mortgage. 3 underrated mortgage products to consider. A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Not to mention, expensive. Yes, seriously.).

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Housing Wire

MARCH 13, 2024

They wanted to understand their credit, they wanted to understand their debt-to-income ratio, they wanted to understand how to build their savings, and they wanted education.” DivvyUp provides users with a personalized action plan of steps they can take to get approved for a mortgage.

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Housing Wire

SEPTEMBER 5, 2024

mortgage market in 2023, up from 14.3% Because FHA accepts lower credit scores , higher debt-to-income ratios and lower down payments than most conventional mortgages, first-time buyers have relied on them due to the ongoing affordability challenges in today’s housing market from elevated prices and mortgage rates.

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Housing Wire

JANUARY 13, 2021

One being, how much do you need to earn in a year to afford a mortgage in the U.S.? . Since home prices vary state-by-state, the salary you need to qualify for a mortgage in the U.S. And it looks the surge will continue into 2021 due to a tight supply of homes and low mortgage rates. . depends a great deal on where you live.

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Housing Wire

MARCH 22, 2023

An affordable home insurance policy not only means lower monthly payments, but also improved debt-to-income ratio and more money to put towards home improvements, property taxes or closing costs. We’ve seen savings of up to 30% in difficult markets like Texas and Florida. You can also request a policy and easily print EOI.

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Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The company explained that the product operates as a ”hybrid between debt and equity.” home equity by the end of this year.

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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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Housing Wire

OCTOBER 28, 2024

In a significant move designed to expand homeownership access, the Federal Home Loan Bank of New York (FHLBNY) announced the adoption of an alternative credit scoring model to boost mortgage credit availability. The wholesale bank will now allow members to pledge mortgage collateral using the VantageScore 4.0

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Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. In January, ICE’s conforming 30-year fixed mortgage rate lock index showed rates averaging 6.6%.

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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.

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Housing Wire

JULY 29, 2022

Net revenues increased by $200 million in the first six months of the year compared to last year, thanks to higher base guarantee fee income, an increase in the size of Fannie Mae’s guaranty book of business and higher income from portfolios. Fannie Mae’s net worth stood at $56.4 billion at the end of the second quarter, up from $51.8

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