Housing Wire

MARCH 26, 2024

Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency ( FHFA ). The number of completed short-sale and deeds-in-lieu transactions in Q4 2023 totaled 134, a decrease of 12% compared to the previous quarter.

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Eye on Housing

JULY 27, 2022

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% Conventional loans financed 74.8% of new home sales in the second quarter of 2022—a 1.8

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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. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

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HomeLight

JUNE 16, 2023

If you’re selling to a buyer backed by an FHA loan , your home must clear an FHA appraisal for the loan to close. The FHA appraisal determines a property’s market value and ensures that the property meets the U.S. By contrast, most conventional loans require a credit score of 620 or above.

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Housing Wire

APRIL 3, 2024

The first is a contention that large swaths of first-time homebuyers, who already face major challenges to enter the housing market, will not be able to meet higher down payment thresholds necessary to pay the buyer’s agent commission when using FHA financing. “We However, we do not have confidence that this will be the case.”

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FHA loan Finance Loans Agents 359

Housing Wire

DECEMBER 3, 2023

Loans in active foreclosure inched up to 217,000, but remained more than 25% below pre-pandemic levels. About 70% of loans currently three or more payments past due are protected from foreclosure by ongoing loss mitigation efforts. In 2024, roughly 75% of originations expected to come from purchase loans. for VA loans.

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Equity VA loan FHA loan Mortgages 412

Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. Broken down on generational lines, 25% of Baby Boomers report not needing financing, compared with just 8% or less for younger generations.

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Housing Wire

NOVEMBER 22, 2023

Total home loan applications increased 3% for the week ending Nov. Mortgage rates for the 30-year fixed loan averaged 7.44%, falling 6 basis points in one week, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average loan size on a purchase application was $403,600, the lowest since January 2023.

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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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HomeLight

AUGUST 31, 2021

The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. In 2020, only about 10% of all home loans were FHA-backed, according to the agency’s annual report. But more than 80% of those FHA borrowers were first-time homebuyers.

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Housing Wire

NOVEMBER 8, 2023

3, total home loan applications increased 2.5% Applications for both purchase and refinance loans were up over the week but remained at low levels,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “”The The share of Federal Housing Administration (FHA) loan activity remained unchanged at 14.7%.

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VA loan FHA loan Mortgages Loans 397

Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. Despite the 30-year fixed rate averaging over 7% in August, applications for new home purchase loans increased over the month and from a year ago,” said Joel Kan, MBA’s vice president and deputy chief economist.

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Eye on Housing

APRIL 26, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% Conventional loans financed. in the first quarter of 2023. Read More ›

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Housing Wire

JUNE 12, 2023

Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes. While rate locks on purchase loans rose from April, they also dipped to their lowest level yet relative to 2018 and 2019 averages as rates rose late in the month,” Andy Walden , vice president of enterprise research at Black Knight, said.

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Loans Mortgages Lending Marketing 394

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

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Housing Wire

JUNE 26, 2023

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.

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VA loan FHA loan Fixed-rate mortgage Principal 330

Housing Wire

MAY 2, 2023

A coalition of fiscal officers from 27 state governments called on the Biden administration and the Federal Housing Finance Agency (FHFA) to scrap the loan-level pricing adjustment (LLPA) fee changes that went into effect on May 1. The letter comes after a group of Republican lawmakers in the U.S. House of Representatives , led by Rep.

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Housing Wire

SEPTEMBER 20, 2023

Last week, purchase applications increased for both conventional and FHA loans but remained 26% lower than the same week a year ago. Also noteworthy, the average loan size on a purchase application was $416,800, the highest level in six weeks. The Federal Housing Administration loans’ share remained unchanged at 14.2%.

Fixed-rate mortgage 387

Fixed-rate mortgage Mortgages FHA loan Loans 387

Housing Wire

MARCH 24, 2023

The Federal Housing Finance Agency (FHFA) released on Thursday its Fourth Quarter 2022 Foreclosure Prevention and Refinance Report, stating that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions in Q4 2022.

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Fixed-rate mortgage VA loan FHA loan Loans 381

HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

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Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded You can’t buy just any house with an FHA loan.

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FHA loan Loans Inspection Renovation 91

Housing Wire

NOVEMBER 16, 2021

The strong monthly gain puts MBA’s estimate of new home sales at its strongest pace since January 2021, the report said. In September , the average mortgage loan size of new homes clocked in at $408,522, the survey found. Regarding product type, conventional mortgage loans reigned supreme, making up 75.7% of loan applications.

Mortgages 470

Mortgages VA loan FHA loan Construction 470

Norada Real Estate

JUNE 22, 2022

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.

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Eye on Housing

APRIL 26, 2021

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the largest share of new home sales since 2018. The share of sales backed by conventional loans in the Q1 2021 increased 2.8

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Finance Sales Loans Mortgages 138

Housing Wire

DECEMBER 3, 2020

mortgage rate for a 30-year fixed loan fell one basis point this week to 2.71%, Freddie Mac said in a report on Thursday – the lowest rate in the survey’s near 50-year history. According to Sam Khater, Freddie Mac’s chief economist, despite these persistently low mortgage rates, home sales are facing significant challenges.

Mortgages 498

Mortgages FHA loan Loans Finance 498

Housing Wire

AUGUST 15, 2022

The depository bank will likely shrink or potentially halt correspondent lending, in which Wells Fargo funds the loan arranged by outsiders, Bloomberg reported , citing unnamed sources. billion in volume , according to Inside Mortgage Finance. Servicing rights is treated as an asset by banks that generates revenue.

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Lending FHA loan Banks Finance 369

Housing Wire

FEBRUARY 1, 2023

It varies a little bit based on loan amount and interest rate but … a pretty good rule of thumb is a [2-1] buydown will typically cost the seller about 2.25 percentage points of the loan amount,” Nunziata said. The National Association of Realtors (NAR) reports that existing-home sales dropped 17.8%

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Housing Wire

MAY 25, 2022

The most affordable manufactured homes are financed with private loans with higher interest rates, shorter terms and fewer consumer protections than mortgage loans. The homes financed by these loans come without land, like a car, and the homeowner typically rents the land beneath their home. That means the 17.5

Finance 350

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Housing Wire

DECEMBER 12, 2023

This phenomenon becomes clearly apparent when compared to existing home sales, for which these buydowns are very rare. As shown in the chart below, existing and new home sales for the 19 largest home builders had roughly the same note rates until January 2022. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans.

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Debt-to-income ratio Loans FHA loan Fixed-rate mortgage 370

HomeLight

JUNE 9, 2023

Believe it or not, there are actually home sellers who offer to loan buyers the money to purchase their property: it’s called owner financing. Learn More What is owner financing? The buyer has 20%, or $60,000, to put down on the house, but their mortgage company only approves a loan of $200,000. Selling your house soon?

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Finance Earnest money deposit Lending Loans 80

Lab Coat Agents

MAY 21, 2024

In today’s rapidly evolving real estate market, assumable mortgages have emerged as a game-changer for homebuyers seeking to save money and secure favorable financing terms. How Do Assumable Mortgages Differ from Traditional Home Loans? What is an Assumable Mortgage?

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VA loan Mortgages Loans FHA loan 98

Housing Wire

DECEMBER 16, 2021

The mortgage trade group estimates that on an unadjusted basis there were 65,000 new home sales in November, from 68,000 new home sales from the month prior, a decline of 4.4%. In October , the average loan amount for a new home was $412,339, the survey found. By product type, conventional loans made up 76.3% 2021, up 6.4%

Mortgages 323

Mortgages VA loan FHA loan Loans 323

Housing Wire

NOVEMBER 16, 2023

We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace — the strongest sales month since May 2023.” FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% Conventional loans made up 63.6%

Mortgages 426

Mortgages VA loan Loans New Construction 426

Eye on Housing

JANUARY 26, 2024

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% Read More ›

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VA loan Sales Finance Loans 98

HomeLight

DECEMBER 5, 2023

” An assumable mortgage could be a smart solution, offering the possibility to take over a home loan with more favorable terms than currently available in the market. We’ll cover what types of assumable loans are available, the process, how to find them, and the pros and cons of assuming a mortgage.

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Eye on Housing

OCTOBER 29, 2021

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 75.7% of new home sales in the third quarter of 2021—the largest share since the beginning of the Great Recession in 2008. The share increased 1.7

Loans 99

Loans Sales Finance FHA loan 99

Housing Wire

MARCH 24, 2022

“HUD has not advised the aforementioned tribes of its plans regarding a proposed rule, or thoughts or concerns regarding the need for a proposed rule, that would have significant implications for all national, state, and local housing finance agencies, including the housing finance agencies owned by the tribes,” the letter read.

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