Housing Wire

DECEMBER 18, 2024

Mortgage applications declined 0.7% 13, driven by slight decline in refinance activity, according to data released Wednesday by the Mortgage Bankers Association (MBA). The decline in applications broke a five-week streak of increases in mortgage demand. Adjustable-rate mortgage (ARM) activity remained steady at 5.3%

VA loan 372

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Housing Wire

DECEMBER 1, 2023

. “With the latest Federal Housing Finance Agency (FHFA) announcement, he could qualify for a conforming loan paying a 5% down payment of roughly $40,000 rather than $80,000 – which could have put him on the sideline. For high-cost areas, the loan limit is $1.149 million. Who benefits from higher loan limits?

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Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The second mortgage requires a monthly payment.

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Housing Wire

MARCH 24, 2025

Mortgage denial rates vary significantly across the U.S., Three Southern states recorded the nations highest mortgage denial rates in 2023, the trade group reported in its Snapshot of Race and Home Buying in America. Realtor.com chief economist Danielle Hale explained that a range of financial factors contribute to mortgage denials.

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Housing Wire

NOVEMBER 26, 2024

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. There are some exceptions.

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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. Rate-and-term refis dipped 20% from December due to a less friendly mortgage rate environment.

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Housing Wire

NOVEMBER 4, 2024

With mortgage rates back into the 7% range and several consecutive weeks of reduced demand , Rocket Mortgage is making what appears to be a volume play. A company spokesperson confirmed that the credit can be used for both purchases and refinances on conventional, VA and FHA loans. 12 third quarter earnings report.

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Housing Wire

MAY 19, 2025

Adjustable-rate mortgages ( ARMs ) have grown in popularity in recent months as borrowers search for affordability relief anywhere they can find it. More than 7% of all mortgage applications last week were for ARM products far above the normal baseline of 3% to 5%, Fratantoni said. It was a more affordable mortgage.”

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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.

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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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Housing Wire

MAY 5, 2025

Intercontinental Exchange ‘s May 2025 Mortgage Monitor Report, released Monday, found that first-time homebuyers accounted for a record share of agency purchase lending (58%) in the first quarter 2025. ICE reported that purchase mortgages have made up a larger share of overall issuance in recent years. Washington, D.C.,

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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.

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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

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. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200. Go Mortgage originated $753.2

Mortgages 496

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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. CBC Mortgage Agency is the provider of Chenoa Fund, a national DPA program that comes in a repayable and forgivable option.

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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. mortgage market in 2023, up from 14.3% of the U.S. in 2022, according to HUD.

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Housing Wire

OCTOBER 16, 2024

Reggora CEO Brian Zitin said his company is looking to help mortgage lenders by removing the need to manually underwrite most appraisals. Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. decline from Q1 2024. decline from Q1 2024.

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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. The average fixed rate for a 15-year mortgage also fell last week to 2.26% from 2.28%. on FHA loans through its Conquest Program.

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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. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. mortgaged home sales, up from 14% a year earlier but down from 16.3%

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FHA loan VA loan Mortgages Loans 441

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. The streamline refi program enables FHA borrowers to refinance their mortgage by reducing underwriting requirements for income verifications and appraisals.

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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 Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

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Housing Wire

JANUARY 10, 2024

Despite an uptick in mortgage rates at the beginning of 2024, mortgage demand surged after adjusting for the holiday. Mortgage applications increased 9.9% 5 compared to one week earlier, according to data from the Mortgage Bankers Association (MBA). The 30-year fixed mortgage rate averaged 6.62% as of Jan.

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Housing Wire

OCTOBER 25, 2023

With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association. The share of Department of Veterans Affairs (VA) loan activity was 10.5%, down from 10.7%

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Housing Wire

NOVEMBER 27, 2024

wholesale lender United Wholesale Mortgage (UWM) has taken another aggressive move related to its product set, underscoring its strong commitment to government-backed loans. On Wednesday, the company announced the removal of all loan-level pricing adjustments (LLPAs) on government loans, albeit with some limitations.

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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 20, 2023

Mortgage demand fell for the first time since November as mortgage rates reached their lowest level since June 2023. Total home loan applications decreased by 1.5% 15 compared to the previous week, according to data from the Mortgage Bankers Association (MBA). for the week ending Dec. the week prior.

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Mortgages VA loan FHA loan Loans 444

Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

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Housing Wire

DECEMBER 6, 2023

Falling mortgage rates last week brought increased demand. Total home loan applications increased 2.8% 1 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). The 30-year fixed-rate mortgage averaged 7.17% last week. for the week ending Dec. of total applications, down from 8.1%

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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

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. In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage.

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FHA loan Loans Lending Finance 473

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. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

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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. Join today with an HW+ Membership !

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Housing Wire

DECEMBER 18, 2020

Considering the median mortgage payment sits around $1,100, that’s a pretty big chunk of change to be bringing in. 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. Hard money loans.

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Housing Wire

NOVEMBER 1, 2023

Mortgage applications fell for the third week in a row as mortgage rates surged toward 8%. 27, total home loan applications fell 2.1% compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association (MBA). For the week ending Oct. of all applications.” the week prior.

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Mortgages VA loan FHA loan Loans 421

Housing Wire

OCTOBER 9, 2024

After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% up 14 bps, on 80% LTV loans.

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Housing Wire

NOVEMBER 22, 2023

Mortgage applications rose to their highest level in six weeks after the 30-year fixed mortgage rate fell to 7.44% last week. Total home loan applications increased 3% for the week ending Nov. 17 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). last week but remained subdued.

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VA loan FHA loan Mortgages Loans 466

Housing Wire

DECEMBER 3, 2023

Mortgage holders withdrew a mere 0.41% of tappable equity in Q3, about 55% below the average withdrawal rate seen in the 12 years leading up to the Federal Reserve ’s most recent tightening cycle, according to the latest ICE Mortgage Technology ‘s mortgage monitor report. for FHA loans and 44.5% for VA loans.

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