Housing Wire

DECEMBER 27, 2022

FHA Commissioner Julia Gordon. The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. million in mortgages valued at $1.7

FHA loan 488

FHA loan Loans Mortgages Equity 488

Housing Wire

FEBRUARY 15, 2024

Garg expects that “a large percentage” of VA loan applicants through Better will also be able to qualify for the company’s One Day Mortgage program , which was launched a year ago and allows customers to apply for a mortgage, get preapproved, lock their rate and receive a commitment letter within 24 hours. billion in Q3 2022. “VA

VA loan 417

VA loan Loans Loan Officer FHA loan 417

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

FHA loan 460

FHA loan Bankruptcy Marketing Loans 460

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. in active foreclosure.

Loans 403

Loans FHA loan Principal Marketing 403

Housing Wire

OCTOBER 16, 2020

Add lender-servicer Guild Mortgage to the ranks of the nonbank mortgage lenders going public. By the looks of it, unnamed investors will be the beneficiaries of the IPO, likely the private equity backers at McCarthy. million from its originations business but lost $148 million from mortgage servicing.

Mortgages 370

Mortgages Purchase and sale agreement FHA loan Loans 370

Housing Wire

OCTOBER 21, 2022

In a statement, Ginnie Mae acknowledged some of the concerns mortgage trade groups and lenders had about complying with the new rules. Our Issuers and the mortgage servicing industry are integral to the government mortgage system, and they are also adapting and adjusting to market conditions. The state of the U.S.

VA loan 370

VA loan FHA loan Loans Banks 370

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.

FHA loan 370

FHA loan Due diligence Loan Officer Loans 370

Housing Wire

SEPTEMBER 21, 2020

The housing and mortgage markets have been the rare bright spots in an otherwise fragile economy brought forth by the ongoing COVID-19 pandemic. Mortgage origination volume this year is on track to be the highest in more than 15 years, led by a strong wave of refinances. Just how busy have lenders been? What is driving this?

FHA loan 542

FHA loan Loans VA loan Mortgages 542

Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

Marketing 417

Marketing FHA loan Loans Mortgages 417

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 95

Finance Debt-to-income ratio FHA loan Mortgages 95

Realty Biz

MARCH 30, 2023

Regardless, there are many things that first-time home buyers aren't aware of when it comes to getting a mortgage. We've put together a brief mortgage guide with the key information you need to know. To get the best rate for your situation, be sure to look closely at each type of mortgage. Let's take a closer look.

Mortgages 101

Mortgages Pre-approval Pre-qualification Due diligence 101

Housing Wire

MAY 5, 2022

Interest rates on 30-year fixed-rate loans have risen above 5%, the highest level in over a decade, and the most rapid increase in rates in almost 50 years. Purchases using an FHA loan, often an indicator of first-time buyer activity, were down to 7.3% Exacerbating things further, inflation at 8.5%

Marketing 370

Marketing FHA loan Loans Sales 370

Housing Wire

JULY 1, 2021

they may not be able to modify the loan, sell quickly or whatever else and thus end up foreclosed upon). Servicers should also be sharing the mathematics of mortgage forbearance. Most homeowners will be exiting forbearance after 12 or even 15 months of not making payments. All those missed payments and interest need to be paid back.

Short sale 298

Short sale FHA loan Equity Sales 298

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available. 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

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles. Is it right for the client?”

Mortgages 509

Mortgages FHA loan Loans Loan Officer 509

Realtor.com

DECEMBER 2, 2021

Getty Images There’s been a rebound in home-buying demand in recent weeks, as evidenced by mortgage application data. The latest data from the Mortgage Bankers Association, for the week ending Nov. 26, showed that overall mortgage applications dropped 7.2% In the most recent week, FHA loans made up only 9.4%

FHA loan 71

FHA loan Mortgages Marketing Loans 71

Housing Wire

FEBRUARY 8, 2022

Goldstone is an executive at a mortgage servicer company trying to reach out to homeowners. “We We service their loans. But we’re having a hard time reaching out to them,” he said during a panel at the annual Residential Mortgage Servicing Rights Forum held in New York City in October. We know who the borrowers are. of the U.S.

Loans 370

Loans Pre-approval Mortgages Principal 370

Housing Wire

JUNE 25, 2024

The Mortgage Bankers Association (MBA) this week submitted a letter to congressional leaders in the U.S. Senate , urging them to endorse full funding for Ginnie Mae in order to ensure maximum liquidity for the government-backed corporation’s mortgage-backed securities (MBS) issuers. House of Representatives and U.S.

Mortgages 384

Mortgages VA loan FHA loan Loans 384

Realtor.com

AUGUST 6, 2020

For nearly two months now, the share of mortgage borrowers who have received approval to skip their monthly loan payments has fallen precipitously. The percentage of Ginnie Mae loans in forbearance increased one basis point to 10.28%, according to the most recent data released Monday by the Mortgage Bankers Association.

Mortgages 88

Mortgages Loans VA loan FHA loan 88

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? Source: (Gonzalo Facello / Unsplash). Conventional.

Mortgages 85

Mortgages Debt-to-income ratio Loans Closing costs 85

HomeLight

JULY 31, 2020

HomeLight looked at the pros and cons of both larger and smaller down payments, interviewing real estate and mortgage professionals, as well as investigating statistics on just how much people are putting down on homes these days, all to help you decide what will work best for you when it comes time to make your home purchase.

Debt-to-income ratio 96

Debt-to-income ratio Loans Equity VA loan 96

Housing Wire

MARCH 12, 2024

Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Total loan volume projected for all MMI programs for 2025 is $237.9 Within the congressional justifications for the U.S.

Mortgages 440

Mortgages FHA loan Loans Lending 440

Housing Wire

JANUARY 1, 2024

Affordability remains a critical issue in virtually all conversations about housing, and few people understand that reality better than leading housing and mortgage industry advocacy groups. They may be softer, but you’re doubling the expenditures on a mortgage with similar prices.

Loans 487

Loans FHA loan Mortgages Equity 487

Housing Wire

SEPTEMBER 21, 2021

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week.

FHA loan 460

FHA loan Lending Equity Technology 460

HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. A great agent also has relationships across the industry. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ!

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

RIS Media

AUGUST 19, 2021

For the first time since the onset of the COVID-19 pandemic, mortgages saw a quarterly decline, according to new data from ATTOM. Mortgages fell 3% in the second quarter of 2021, while still holding well above pre-pandemic levels as consumer behavior continued to shift in the market. billion—77% above Q2 2020. – Sioux Falls, S.D.

Mortgages 97

Mortgages FHA loan Equity Loans 97

Housing Wire

OCTOBER 24, 2022

The mortgage-servicing rights market just keeps on ticking even as the overall housing market takes a licking. The 10 offerings together involve Fannie Mae , Freddie Mac and Ginnie Mae loan pools valued collectively at $12.77 Tom Piercy, Managing director of Incenter Mortgage Advisors. billion — compared with $51.1

Principal 321

Principal Banks Loans Mortgages 321

Redfin

JUNE 8, 2023

The mortgage industry has its own language, and in order to understand it, homebuyers need to learn different acronyms and jargon when shopping for a home loan. Before you set your sights on a home, know if you can afford the costs by learning what PITI is and how it impacts your monthly mortgage payments.

Mortgages 56

Mortgages Principal Pre-approval Loans 56

HomeLight

MARCH 9, 2023

The most common forms of assistance or alternative loan fall into the following broad categories: Down payment assistance programs Government-backed loans Low-income loans Down payment assistance program Down payment assistance programs help first-time homebuyers who need cash for a down payment. JPMorgan Chase & Co.

Loans 96

Loans Debt-to-income ratio VA loan FHA loan 96

Notorious ROB

JULY 18, 2022

And the FHA Loan Monthly Payment was calculated using Calculator.net. So looking at these median market-rate rents versus buying a median priced home in that market using first-time FHA loans with a low 3.5% The Median Sold Price is from Realtor.com. A couple of things jump out immediately.

Marketing 90

Marketing FHA loan As-is Loans 90

Realtor.com

NOVEMBER 9, 2022

Inflation and rising rents have cut deeply into their savings accounts, and, lately, mortgage rates have hit 20-year highs. “Sellers look at the smaller down payment as coming from a riskier buyer, with less certainty that the mortgage will be approved or close on time,” says Rob Chrane , CEO of DownPayment Resource.

VA loan 111

VA loan FHA loan Loans Sales 111

Realtor.com

JUNE 18, 2021

The changes, which were presented in a letter to lenders late Thursday, are intended to allow more borrowers to qualify for loans backed by the FHA, a unit of the Department of Housing and Urban Development that provides insurance on mortgages to first-time and lower-income home buyers.

Loans 95

Loans FHA loan Debt-to-income ratio Equity 95

HomeLight

DECEMBER 2, 2021

If you’re “upside-down” in your mortgage (owing more than the property is worth), you have a few options. A conservative industry estimate might be six months, start-to-finish. One of them is a short sale. Your agent will also ensure that all additional legal guidelines required in a short sale are followed. The timeline.

Short sale 104

Short sale Sales Loans Banks 104

Housing Wire

APRIL 4, 2022

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input. Comments from the mortgage industry are due by May 31.

Loans 523

Loans FHA loan Mortgages Real-estate owned 523

HomeLight

DECEMBER 29, 2021

If you’re concerned about a low valuation, we’ve gathered the best advice from Bourne and other industry experts on how you can prepare for your appraisal. Lenders want assurance that the buyer isn’t over-borrowing because the home serves as collateral for the mortgage. This enables her to determine the right price in the first place.

Purchase and sale agreement 111

Purchase and sale agreement VA loan Loans Agents 111

HomeLight

OCTOBER 29, 2021

Your lender wants to see that you aren’t wiping yourself out financially to buy a house, and they usually require about two months’ worth of mortgage payments in your bank account as a financial cushion. Shop around for a mortgage. You also want to make sure you still have some money left over. Figure out a budget and stick to it.

Inspection 98

Inspection Loans VA loan Title 98