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 Cases in the early stages may be transferred to other lenders with an FHA approval.

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FHA loan Mortgages Loan Officer Loans 448

Housing Wire

OCTOBER 16, 2024

Department of Housing and Urban Development (HUD) have published a new report identifying the locations of people seeking Federal Housing Administration (FHA) rental and homeownership assistance programs. The locations of households that have received FHA-backed mortgages have been studied far less, HUD explained.

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FHA loan Equity Loans Mortgages 466

Housing Wire

APRIL 9, 2024

This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front.

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FHA loan Loans Title Mortgages 450

Inman

MAY 22, 2024

While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly.

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FHA loan Loans Development Mortgages 179

Housing Wire

SEPTEMBER 14, 2023

When a lender rejects an FHA application, it discourages the next lender from even reviewing the application because of the extra work the underwriters have to do to override that MCR, mortgage pros told HousingWire. All FHA mortgage lenders use a system by the U.S. Demand for FHA loans have risen over the past year to comprise 23.8%

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Loan Officer FHA loan Loans Mortgages 397

Housing Wire

JUNE 1, 2022

The Community Home Lenders Association (CHLA), backed by 41 IMBs, sent a letter urging the FHA to streamline its servicing guidelines, increase permissible lender fees for executing an assumption of an FHA loan, and make changes to FHA’s condo rules.

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FHA loan Loans Mortgages Banks 384

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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FHA loan Mortgages Loans Principal 384

Housing Wire

JANUARY 19, 2024

6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A.

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Mortgages FHA loan Loan Officer Loans 456

Housing Wire

MAY 4, 2021

The CFPB will continue to seek and actively respond to developments in the market, doing everything in our power to help families stay in their homes. The CFPB pointed out FHA loans in particular as having complications when borrowers attempted making a partial claim or modifying their loan to address forborne payments.

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Mortgages FHA loan Loans Title 450

Housing Wire

FEBRUARY 27, 2024

Rebecca Anderson, senior vice president of strategic communications and public relations at loanDepot, wrote to HousingWire that the company “enjoys a long history of attracting and developing top-notch talent and “we thank Mosi for her many contributions to loanDepot and wish her the best in the next chapter of her career.”

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FHA loan Loan Officer Loans Staging 421

Housing Wire

JUNE 17, 2021

According to the BAS, the average loan size rose from $377,434 in April to $384,000 in May ?the the fourth consecutive month of rising loan sizes and a new survey high. By product type, conventional loans made up 743.9% of loan applications, FHA loans composed 14.8%, RHS/USDA loans cam in around 0.9%

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Sales VA loan FHA loan Loans 500

Housing Wire

FEBRUARY 25, 2022

The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development ’s Single Family Mortgage Asset Recovery Technology (SMART) system. I feel really good about where we are with FHA Catalyst,” she told HousingWire.

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FHA loan Title Principal Development 397

Housing Wire

MAY 14, 2024

This is significant, because as noted in CHLA’s annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front.

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FHA loan Loans Title Banks 388

Housing Wire

FEBRUARY 7, 2023

. “The little that I’ve dabbled in assumable loans, they are very difficult to maneuver,” Rochelle Gano, a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. Gano added that FHA loans seem “a little more workable” than the VA and USDA options.

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FHA loan Mortgages Loan Officer VA loan 384

Housing Wire

SEPTEMBER 21, 2021

Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said. The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process.

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FHA loan Lending Equity Technology 450

Housing Wire

MAY 19, 2022

Department of Housing and Urban Development. The average loan size rose to a new survey high of $436,576. Over half of the applications were for loan amounts greater than $400,000, the MBA said. Conventional loans accounted for 76.7% of loan applications. Homebuilders constructed about 1.23 from March and 8.6%

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VA loan FHA loan Construction Loans 432

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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VA loan Agents Seller concession FHA loan 458

Housing Wire

APRIL 11, 2023

The Department of Housing and Urban Development (HUD) did not respond to HousingWire ’s request for comment on the spread of inaccurate information on the FHA’s 40-year loan modification decision prior to publishing. “Right now, a 30-year FHA loan for $500,000 at 6.7% “It’s not for new loans (…).

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FHA loan Mortgages Loans Development 384

Housing Wire

MAY 13, 2021

By loan type, conventional loans backed by Fannie Mae and Freddie Mac took the lion’s share at 72.9% of loan applications, followed by just 15.8% of FHA loans, 10.3% from VA and 1% leftover for RHS/USDA loans.

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Sales FHA loan Loans Construction 466

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

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Loans FHA loan Equity Mortgages 466

Housing Wire

APRIL 4, 2022

The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. 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.

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FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

APRIL 15, 2024

Louis that compares the median home price in Nevada at the time Biden took office ($342,995) to the figure as of January 2024 ($460,000), and illustrated increases in monthly payment obligations for Federal Housing Administration (FHA) borrowers. Utilizing a 3.5% at the market interest rate of 2.82%,” Gov. Lombardo said in his letter.

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FHA loan Land Principal Development 431

Housing Wire

JULY 10, 2024

Department of Housing and Urban Development (HUD) on Wednesday posted an updated draft of its proposed defect taxonomy for servicing Federal Housing Administration (FHA) loan reviews.

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FHA loan Loans Mortgages Design 394

Housing Wire

AUGUST 14, 2024

But the industry is not yet out of the woods, said Todd Sheinin, the Maryland-based vice president of strategy and development at Primary Residential Mortgage Inc. “As The recent declines in mortgage rates have been good news for mortgage professionals and consumers alike.

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Mortgages Loan Officer FHA loan Loans 441

RIS Media

OCTOBER 29, 2024

Department of Housing and Urban Development (HUD) announced Monday the expansion of public appraisal data to include Federal Housing Administration (FHA) loans. DENVER, Colo.—The The Federal Housing Finance Agency (FHFA) and the U.S.

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FHA loan Finance Development Loans 105

Housing Wire

AUGUST 22, 2022

By product type, conventional loans composed 70.7% of loan applications, FHA loans composed 17.7%, RHS/USDA loans composed 0.2% and VA loans composed 11.4%. The average loan size of new homes decreased from $423,221 in June to $416,029 in July. Department of Housing and Urban Development.

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VA loan FHA loan New Construction Loans 370

Housing Wire

SEPTEMBER 27, 2022

The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. More than 240 positions were eliminated from the Iowa offices this year and an additional 75 employees will be laid off in October, according to the Iowa Workforce Development. .

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FHA loan Lending Banks Finance 384

Housing Wire

APRIL 2, 2025

Overall purchase activity has shown year-over-year growth for more than two months as the inventory of existing homes for sale continues to increase, a positive development for the housing market despite the uncertain near-term outlook.

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Fixed-rate mortgage Loans Mortgages Development 315

Housing Wire

NOVEMBER 21, 2022

Department of Housing and Urban Development , through the FHA, announced on Monday that the change will go into effect on December 21, 2022. The final rule was published in the Federal Register and in a companion mortgagee letter that provides implementation guidance for FHA-approved lenders. .

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FHA loan Mortgages Loans Lending 370

Housing Wire

JUNE 8, 2022

Unlike large lenders, which often have their own proprietary systems, it’s often not financially feasible for smaller firms to develop their own software. The CHLA also said independent mortgage banks now originate more than 60% of all mortgage loans and more than 90% of FHA loans, which disproportionately serves minority borrowers.

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FHA loan Banks Loans Technology 370

Housing Wire

OCTOBER 19, 2022

The IMBs originated 90% of FHA and VA loans and issued 90% of Ginnie Mae mortgage-backed security, the report said. In 2021, non-depository institutions accounted for 64% of first-lien, owner-occupied, site-built home-purchase loans. Department of Housing and Urban Development (HUD).

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VA loan FHA loan Fixed-rate mortgage Banks 409

Housing Wire

MARCH 11, 2022

Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. So real estate agents automatically get nervous [about a HECM being] an FHA loan. Harlan Accola.

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FHA loan Due diligence Loan Officer Loans 370

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

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FHA loan Loans Pre-approval Pre-qualification 111

Housing Wire

OCTOBER 23, 2020

In September, Pyramid Systems , a technology solutions provider for federal agencies, announced it was awarded a Salesforce Refactoring and Implementation Support Services (SRISS) contract to modernize the FHA loan system. According to the release, the two-year contract is worth $42 million.

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FHA loan Loans Technology Mortgages 441

HomeLight

AUGUST 31, 2021

The Federal Housing Administration (also known as the FHA) is an agency of the U.S. Department of Housing and Urban Development (HUD) that offers first-time buyer support. The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. The answer is: Very well!

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FHA loan Loans Debt-to-income ratio Banks 105

Housing Wire

MAY 31, 2023

A partial claim is an interest-free loan from the U.S. Department of Housing and Urban Development ( HUD ) that borrowers can use to make their mortgage current. Typically, issuers implement loss mitigation by buying an FHA loan out of a Ginnie Mae pool, modifying the loan, and then selling the loan back into a pool.

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FHA loan Loans Principal Mortgages 384

Housing Wire

JUNE 25, 2024

Ginnie Mae plays a critical role in guaranteeing securities backed by Federal Housing Administration (FHA) loans, as well as Rural Housing Service (RHS) and Veterans Affairs (VA) single family loans,” the letter stated. The FY 2025 budget request from the administration projects that Ginnie Mae will generate approximately $1.4

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Mortgages VA loan FHA loan Loans 362