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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. 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. “VA loans are probably the best loans on the market.

VA loan 454
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GSEs completed nearly 60,000 foreclosure prevention actions in Q1 2023: FHFA

Housing Wire

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans.

VA loan 369
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How To Finance Turnkey Rental Properties?

Norada Real Estate

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96
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Rate buydowns are the cat’s meow in today’s market

Housing Wire

Miki Adams, president of CBC Mortgage Agency , a nationally chartered housing-finance agency, said it’s also important to note that the benefits of temporary rate buydown loans [TRBLs] can be amplified if used “in conjunction with” other down payment assistance programs.

Marketing 407
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When borrowers ‘ghost’ their servicers

Housing Wire

Ellie Pepper, deputy director at the National Housing Resource Center ( NHRC ), an advocate for the nonprofit housing counseling industry, said the past still looms large for many borrowers. For example, with Federal Housing Administration ( FHA ) loans, 1.5 We certainly have had some challenges.

Loans 369
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

The money can be used for mortgage payment assistance or mortgage principal or interest rate reductions. Updated Black Knight data shows that, as of the end of October, there was $58 billion in past-due mortgage principal, interest, taxes, and insurance on first-lien mortgages, down from $64.5 21, 2020. . Up to the task?

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Biden-Harris Administration Announces Reduced Mortgage Insurance Premiums

Broke Agent Media

Vice President Harris and Department of Housing and Urban Development Secretary Fudge announced today that HUD, through the Federal Housing Administration (FHA), will reduce its annual mortgage insurance premium by 0.30%, from 0.85% to 0.55%, for an estimated 850,000 borrowers in 2023. What does a reduction in MIP mean for home buyers?