Housing Wire

OCTOBER 31, 2024

According to data released Thursday by the Mortgage Bankers Association (MBA), the median payment for purchase loan applicants declined by 0.8% The average mortgage payment declined in spite of an increase in the median loan size for purchase applicants, which went from $320,100 in August to $328,000 in September.

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Housing Wire

NOVEMBER 27, 2024

22, driven by a 12% increase in demand for purchase loans, according to data released Wednesday by the Mortgage Bankers Association (MBA). The increase in conventional purchase applications helped push the average purchase loan size to $439,200, its highest level in almost a month. But government loans saw their shares shrink.

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Mortgages VA loan FHA loan Fixed-rate mortgage 370

Housing Wire

MAY 19, 2025

You’ve lowered the MIP; you’re making that mortgage insurance for that high-LTV loan cheaper. ” Homebuilders now have about 500,000 homes on the market, and their financing arms are another potential source of relief. It was a more affordable mortgage.”

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Housing Wire

JANUARY 14, 2025

A report released Tuesday by Optimal Blue found that the conforming loan share sank to historic lows in December. More refis in December pulled market share away from other loan types, including conforming loans. ” The conforming loan share dropped by 1.5% mortgage market trends.

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Housing Wire

DECEMBER 18, 2024

Market data at HousingWire ‘s Mortgage Rates Center showed an average fixed rate of 6.87% for 30-year conforming loans on Wednesday, a slight increase from the week ending on Dec. ” Refinance application activity across all loan types decreased 3% week over week, although it was still 41% higher compared to the same week in 2023.

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Housing Wire

DECEMBER 4, 2024

Purchase loan activity drove total applications higher last week, which included an adjustment for the Thanksgiving holiday. Rates for 30-year jumbo loans (balances above $766,550) decreased by 12 bps and averaged 6.85%. In 2025, jumbo loans will increase to a minimum size of $806,501 — a 5.2% in the prior week.

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Mortgages VA loan FHA loan Loans 383

Housing Wire

FEBRUARY 13, 2025

Loan locks for refinances rose more than 20% year over year while purchase lock counts saw a 6% decrease, according to Optimal Blue ‘s January 2025 Market Advantage mortgage data report released Thursday. of all locked loans in January. The average loan amount there was $576,385. It was followed by Dallas (3.4%

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Housing Wire

MARCH 24, 2025

“A loan-to-value ratio that is too high, either because of a limited down payment or an appraisal of the home that resets the value used to calculate this ratio, can also be a factor,” she said. The type of mortgage also plays a role, with jumbo and nonconventional loans facing higher rejection rates.

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Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier.

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Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So

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FHA loan Loans Loan Officer Mortgages 441

Housing Wire

MAY 5, 2025

Gen Z was responsible for one in four loans issued to first-time homebuyers. And despite tightened affordability , first-time buyer purchase lending has held up better than activity among repeat buyers compared to 2018 and 2019 especially for conventional loans through the government-sponsored enterprises ( GSEs ). Washington, D.C.,

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Housing Wire

MARCH 25, 2021

Do I need to pay off my student loans before buying my first home? 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. For example, a conventional loan lets you put as little as 3% down.

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Housing Wire

MARCH 20, 2025

Flips purchased with financing accounted for 36.2% Among major metros, San Diego (59%), Seattle (58.1%), and Fresno, California (50.6%) had the highest percentage of flips purchased with financing. Additionally, the share of flipped homes sold to buyers using Federal Housing Administration (FHA) loans remained steady at 10.7%.

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FHA loan Investor Finance Renovation 309

Housing Wire

AUGUST 12, 2024

The share of piggybacked Federal Housing Administration (FHA) home purchase loans rose by more than seven percentage points from June 2022 to June 2024, going from 10.8% for conventional purchase loans backed by Fannie Mae and Freddie Mac. The calculations were based on the number of purchase loans in CoreLogic public records.

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Housing Wire

NOVEMBER 4, 2024

The third party origination (TPO) division of Rocket Mortgage on Monday announced the rollout of its latest product, 24 Takeoff, which allows mortgage broker partners to receive a 24 basis point credit on all eligible loans until Nov. 29, which gave borrowers a 75-basis-point rate cut on various refinancing options.

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Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. But this is much easier said than done.

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Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

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Loans FHA loan Mortgages Loan Officer 432

Housing Wire

MAY 12, 2021

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans , said her client has all but given up on buying an existing home with VA financing. The rest of this content is for HW+ members.

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Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation.

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Housing Wire

SEPTEMBER 5, 2024

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. of the U.S. mortgage market in 2023, up from 14.3% in 2022, according to HUD.

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Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

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Housing Wire

SEPTEMBER 9, 2024

Better Home & Finance Holding Co. , the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. Better does not check income on FHA streamline refi loans. In its second-quarter 2024 financial earnings, Better.com posted a net loss of $42.2

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FHA loan Loans Closing costs Finance 421

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. Presented by: Proctor Loan Protector. Approximately 65% of the new volume was for new purchases, while 35% was for refinance loans.

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Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans.

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FHA loan Loans Lending Finance 473

Housing Wire

NOVEMBER 9, 2023

For this reason, many programs now allow funds to be used for buydowns and other popular financing strategies that take the edge off of monthly mortgage payments,” Rob Chrane, founder and CEO of DPR, said in a statement. Buydowns have become a preferred financing strategy for borrowers as mortgage rates have surged.

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Housing Wire

DECEMBER 18, 2020

Here’s what you need to know about financing that purchase. Conventional loans. A conventional loan is a smart way to finance an income-earning property. If you plan to use the property as an investment (you’ll have to indicate so on your loan application), then you could face more stringent qualifying requirements.

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Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

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Housing Wire

MAY 25, 2021

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.),

FHA loan 473

FHA loan VA loan Loans Loan Officer 473

Housing Wire

OCTOBER 16, 2024

Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. “Eliminating the need to manually underwrite the vast majority of appraisals goes well beyond a technology improvement and truly allows lenders to close loans faster at a lower cost.”

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Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. Meanwhile, military VA loans represented 6.3% and 20.3%, respectively.

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FHA loan VA loan Mortgages Loans 441

Housing Wire

MAY 24, 2024

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. How student loans impact your ability to buy a home Adding a mortgage on top of monthly student loan payments can create a significant financial strain.

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Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. When Finance of America announced their closure, we started searching around,” Reich said. “Refis are the easier product of the industry,” Reich said. “We

Mortgages 496

Mortgages FHA loan Loan Officer Construction 496

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. In turn, thousands of loan originators could soon be looking for a new lender to hang their license. Go [Mortgage] was on that list,” Reich said.

Loans 397

Loans Mortgages Loan Officer Pre-approval 397

Housing Wire

NOVEMBER 17, 2023

CBC Mortgage Agency — a federally chartered housing finance agency — is reducing interest rates on repayable second mortgages used for its down payment assistance (DPA) program. The Chenoa Fund DPA program offers a 10-year repayable option on the second loan with a mortgage rate that’s 2% higher than that of a FHA first mortgage.

Mortgages 421

Mortgages FHA loan Loans Finance 421

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 Most of its loans during the past year were in Kansas (12.5%), Mississippi (11.4%) and Florida (9.7%). Inside Mortgage Finance first reported on the topic.

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FHA loan Mortgages Loan Officer Loans 449

Housing Wire

FEBRUARY 25, 2025

FHA, VA loan usage is stable Federal Housing Administration (FHA) loans, commonly used by first-time buyers and those with smaller down payments, accounted for 15% of mortgaged home sales in December, down slightly from 15.9% Department of Veterans Affairs (VA) loans made up 6.7% a year earlier. a year earlier.

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Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

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FHA loan Loan Officer Loans Mortgages 370