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.

Loans 465

Loans FHA loan Equity Mortgages 465

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said. They come in the forms of grants, second mortgages, deferred loans and forgivable loans.

FHA loan 450

FHA loan Loans Closing costs Loan Officer 450

Housing Wire

MARCH 25, 2021

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. The private mortgage insurance industry also supported $600 billion in mortgage originations. Mortgage Insurers.

Industrial 544

Industrial Mortgages FHA loan Finance 544

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. million.

Loans 395

Loans FHA loan Principal Marketing 395

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based In March, FHA Commissioner Julia Gordon made it a little cheaper. based think tank Urban Institute to hear their takes.

FHA loan 368

FHA loan Loan Officer Loans Mortgages 368

Realtor.com

NOVEMBER 28, 2022

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan. You’ll have to pay mortgage insurance.

FHA loan 98

FHA loan Debt-to-income ratio Loans Loan Officer 98

Realty Biz

DECEMBER 29, 2021

From finding the right agent to work with , to sorting through listings until you find your dream home, to figuring out innovative ways to keep your costs down , to outbidding all the other buyers in 2021’s red hot market, it’s easy to overlook one of the most important (and most nerve-wracking) aspects of buying a home — the financing.

FHA loan 116

FHA loan Loans Bankruptcy Mortgages 116

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 479

FHA loan Loans Mortgages Equity 479

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.

FHA loan 382

FHA loan Mortgages Loans Principal 382

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 397

VA loan Loans Loan Officer FHA loan 397

Housing Wire

FEBRUARY 1, 2023

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range]. in year one, go to 5.2% in year three.

Marketing 410

Marketing FHA loan Loans Mortgages 410

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgages 491

Mortgages FHA loan Lending Equity 491

Housing Wire

MAY 5, 2022

This article is part of our housing market update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Demographics still point towards a market with strong demand – the largest cohort of millennials, the largest generation in U.S. Exacerbating things further, inflation at 8.5%

Marketing 370

Marketing FHA loan Loans Sales 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 366

VA loan FHA loan Loans Banks 366

Housing Wire

MAY 15, 2023

mortgage market faced a new “ refinance boom” when mortgage rates declined by nearly 200 basis points between November 2018 and November 2020, following the Federal Reserve rate cuts that were made to remedy the economic impacts of the Covid-19 pandemic. When broken down by investor type, 38% of U.S.

Equity 377

Equity Loans Mortgages Banks 377

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?

FHA loan 542

FHA loan Loans VA loan Mortgages 542

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 113

Finance Debt-to-income ratio FHA loan Mortgages 113

Housing Wire

NOVEMBER 28, 2023

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

FHA loan 479

FHA loan Loans Finance Lending 479

Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded We found an FHA-approved lender, and in no time, we were on our way to buying our first home with a government-backed loan. “Mortgage insurance?”

FHA loan 91

FHA loan Loans Inspection Renovation 91

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 368

FHA loan Due diligence Loan Officer Loans 368

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

Loans 101

Loans Purchase and sale agreement VA loan Mortgages 101

Real Trends

NOVEMBER 11, 2022

Today’s turbulent housing market means challenges for both buyers and sellers. As real estate professionals keep the challenges of our current market in mind, the financing options below can pave the way to deals that may otherwise not be possible. These loans also charge a funding fee and a percentage of the loan amount.

Finance 106

Finance VA loan FHA loan Agents 106

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 104

Mortgages Pre-approval Pre-qualification Due diligence 104

Realty Biz

MARCH 9, 2023

One of the most challenging issues that first-time home buyers face is almost certainly finding the right mortgage for them and their needs. Thankfully, there are several different types of mortgages available for people buying their first property. Here are some of the best types of loans for first-time home buyers.

FHA loan 94

FHA loan Loans Closing costs Mortgages 94

Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. Lunch & Learn: Should there be a 40 year mortgage? Lunch & Learn: Should there be a 40 year mortgage?

Loans 421

Loans Industrial Mortgages Real-estate owned 421

Housing Wire

OCTOBER 21, 2022

The parent company of mortgage servicing rights clearinghouse Marlin Mortgage has struck a deal to acquire 100% of the outstanding equity of direct-to-consumer mortgage lender LoanFront. LoanFront is licensed to do business in 21 states and offers a mix of conventional and government loans. Presented by: Flagstar.

Mortgages 73

Mortgages FHA loan Equity Banks 73

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

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 236

Short sale FHA loan Equity Sales 236

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 87

Debt-to-income ratio FHA loan Lending Loans 87

Marco Santarelli

OCTOBER 6, 2023

However, certain programs like FHA loans and VA loans allow for lower credit scores. FHA loans can accept a credit score as low as 500 with a higher down payment, while VA loans often require a credit score of 580. This range varies depending on the type of mortgage loan and the lender.

VA loan 52

VA loan FHA loan Pre-qualification Debt-to-income ratio 52

Keeping Current Matters

DECEMBER 7, 2021

That’s led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. The ability to qualify for a mortgage at the current lending standards. That could also mean an easier path to homeownership for many prospective buyers.

FHA loan 244

FHA loan Loans Lending Equity 244

Realty Biz

JULY 20, 2022

The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%. Though, you will need to pay private mortgage insurance with down payments of less than 20%, increasing your monthly outgoings. Fannie Mae and Freddie Mac.

Loans 143

Loans FHA loan VA loan Equity 143

HomeLight

SEPTEMBER 2, 2021

In 2021’s white-hot real estate market, homes are appreciating every day. Here, we’ll walk you through one of the best-known and most widely utilized tools that can help get you those keys: the FHA loan. What’s an FHA loan? They must be issued by an FHA-approved lender — and there are many of these out there.

FHA loan 85

FHA loan Debt-to-income ratio Loans Equity 85

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. Mortgage Options During Chapter 13 Bankruptcy. Most lenders will want people to wait two years after Chapter 13 Bankruptcy discharge before they will approve you for a mortgage.

Bankruptcy 132

Bankruptcy Debt-to-income ratio VA loan FHA loan 132

Windemere Buying

JUNE 25, 2021

Private Mortgage Insurance (PMI), though it is an additional expense, can be a gateway to homeownership, and for some buyers, may be their only choice to secure the required financing for a home. A down payment is a lump sum payment made by the buyer early on in the process of obtaining a mortgage.

VA loan 52

VA loan Mortgages FHA loan Pre-approval 52

HomeLight

OCTOBER 26, 2020

When you bought a house with less than 20% down, your mortgage lender tacked on the extra cost of private mortgage insurance (PMI) as a standard precautionary measure. But let’s be honest — no one loves that expense bundled into their mortgage. What is private mortgage insurance? It’s incredibly common!

FHA loan 98

FHA loan Equity Principal Loans 98

HomeLight

SEPTEMBER 30, 2020

Mortgage payments can take up a good chunk of your income, especially with a new home. And the interest you pay on that mortgage loan is nothing to sneeze at. In 1982, mortgage rates hit an annual average of 16.03%. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98