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. The trade groups in tandem applauded the FHA for moving to align its loss mitigation policy with other housing agencies, including Fannie Mae and Freddie Mac.

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Loans Industrial Mortgages Real-estate owned 421

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. In total, 99.3%

Loans 397

Loans FHA loan Principal Marketing 397

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

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Industrial MLS FHA loan Agents 421

Housing Wire

FEBRUARY 27, 2024

DKMC), has tapped industry veteran Mosi Gatling as senior vice president of strategic growth and expansion, a newly created role on NAF’s leadership team. of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex.

FHA loan 421

FHA loan Loan Officer Loans Mortgages 421

Inman

NOVEMBER 21, 2023

Having just slashed annual mortgage insurance premiums on new FHA loans by 35 percent in March, and with total insurance in force growing faster than reserves, HUD officials show no signs of giving in to long-standing industry demands.

Loans 187

Loans FHA loan Mortgages Industrial 187

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.

Equity 441

Equity VA loan FHA loan Mortgages 441

Housing Wire

MARCH 29, 2024

The Consumer Financial Protection Bureau (CFPB) this week released its 2023 Consumer Response Annual Report , offering an overview of consumer complaints in a variety of industries overseen by the bureau. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

Mortgages 416

Mortgages VA loan FHA loan Lending 416

Housing Wire

AUGUST 11, 2023

“Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments,” Marina Walsh, the MBA’s vice president of industry analysis, said in a statement. The percentage of loans on which foreclosure actions were started in the second quarter fell by 3 basis points.

FHA loan 370

FHA loan Mortgages Loans Residential 370

RISMedia

DECEMBER 10, 2021

The FHA is now a go-to-place for moderate-to-low income workers with good credit histories. The post How to Get Approved for an FHA Loan appeared first on RISMedia's Housecall. A home is a long-term investment, however, when […].

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FHA loan Loans As-is Industrial 111

Housing Wire

OCTOBER 25, 2023

The share of Federal Housing Administration (FHA) loan activity inched up to 15.2% The share of Department of Veterans Affairs (VA) loan activity was 10.5%, down from 10.7% the week prior while the share of Department of Agriculture (USDA) loan activity decreased to 0.4% from 14.8% for the week ending Oct.

Mortgages 450

Mortgages VA loan FHA loan Loans 450

Housing Wire

NOVEMBER 7, 2023

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.

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VA loan Agents Seller concession FHA loan 458

Housing Wire

JUNE 30, 2023

According to the company’s statement, “The relevant loans, some dating back 15 years, make up less than a half percent of our total federal loans originated during this time frame. Like its peers, Movement has the authority to originate and underwrite loans without first having the government review them.

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Loans Mortgages Land Development 384

Housing Wire

JUNE 1, 2022

The Community Home Lenders Association (CHLA), backed by 41 IMBs, sent a letter urging the FHA to streamline its servicing guidelines, increase permissible lender fees for executing an assumption of an FHA loan, and make changes to FHA’s condo rules. 55% and get rid of its life of loan premium policy.

FHA loan 384

FHA loan Loans Mortgages Banks 384

Housing Wire

DECEMBER 8, 2021

“Mortgage rates declined for the first time in a month, prompting a pickup in refinancing, with government refinances increasing more than 20% over the week,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. VA loans comprised 10.7%, increasing seven basis points. in the period.

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FHA loan Mortgages VA loan Fixed-rate mortgage 441

Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time. So, the servicing valuation on those loans is strong, because pre-payments are low.

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FHA loan Bankruptcy Marketing Loans 450

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. Over the past 14 years, FHA has insured 9.1

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FHA loan Loans Mortgages Equity 479

Housing Wire

APRIL 10, 2023

However, when investors flocked to safe-haven assets in the wake of uncertainty in the banking sectors — which led to rates coming down roughly a quarter of a point — the mortgage industry saw another quick surge in originations, particularly the purchase market, Walden noted. before dropping to 6.4%

FHA loan 384

FHA loan Marketing Lending Mortgages 384

Housing Wire

FEBRUARY 16, 2023

The delinquency rate for mortgage loans on one- to four-unit residential properties rose 51 basis points from the previous quarter to a seasonally adjusted rate of 3.96% of all loans outstanding in the fourth quarter of 2022, according to the Mortgage Bankers Association (MBA). “As by the end of 2023.

Mortgages 421

Mortgages Equity VA loan FHA loan 421

Housing Wire

JUNE 26, 2023

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. 35% of loan modifications completed in Q1 “reduced borrowers’ monthly payments by more than 20%,” the report’s findings said. “The

VA loan 370

VA loan FHA loan Fixed-rate mortgage Principal 370

Housing Wire

NOVEMBER 4, 2020

According to Joel Kan , MBA’s associate vice president of economic and industry forecasting, borrowers made a grab for both conventional and government refi’s. percent last week, but rates for 15-year fixed-rate loans, FHA loans and jumbo loans all fell to new MBA survey lows.”. of total applications.

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Fixed-rate mortgage Mortgages FHA loan Loans 508

Housing Wire

NOVEMBER 20, 2020

FHA loans remained the same, holding steady at 3.01% in October. From September to October, the average time to close all loans increased from 51 to 54 days, with the average time to close a refinance increasing from 54 to 57 days and average time for a purchase climbing one day to 48 days. Overall loan applications are down 9.3%

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Closing FHA loan Mortgages VA loan 441

Housing Wire

MARCH 14, 2024

These include the integration of forward mortgage professionals into the reverse mortgage business, how the Home Equity Conversion Mortgage (HECM) limit for 2024 could end up impacting the industry, and the openness of both clients and referral partners to reverse mortgage conversations. 2024 HECM limit On Jan.

Mortgages 415

Mortgages Loan Officer FHA loan Equity 415

Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

VA loan 410

VA loan FHA loan Fixed-rate mortgage Loans 410

Housing Wire

DECEMBER 22, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that the average purchase loan increased to $416,200. VA loans comprised 11.5%, an increase of nine basis points. Meanwhile, the share of FHA loans remained unchanged at 9.6% The share of USDA loans was 0.5%.

Mortgages 397

Mortgages VA loan FHA loan Fixed-rate mortgage 397

Housing Wire

OCTOBER 14, 2022

The Mortgage Bankers Association and fellow trade group the Black Homeownership Collaborative have joined the chorus of voices imploring HUD Secretary Marcia Fudge to reduce mortgage insurance premiums (MIPs) and suspend life-of-loan requirements for borrowers with FHA-insured loans.

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FHA loan Loans Mortgages Industrial 431

Housing Wire

NOVEMBER 24, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that purchase activity increased for the third straight week, as housing demand remains robust, even as the housing market approaches the typically slower holiday season. VA loans consisted of 10.3% Refi represented 63.1%

Mortgages 432

Mortgages VA loan FHA loan Fixed-rate mortgage 432

Housing Wire

MAY 4, 2021

In April, the Consumer Financial Protection Bureau warned the industry of its plans to keep a much closer eye on servicers as they transition borrowers out of forbearance. Consumers also reported long delays in having their loan modified so that they could resume payments on the mortgage.

Mortgages 450

Mortgages FHA loan Loans Title 450

Housing Wire

NOVEMBER 30, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said mortgage rates rose for the third week in a row, reducing incentives for many borrowers to refinance. The average loan amount increased to $414,700, the highest since February. VA loans consisted of 10% of the share, decreasing three basis points.

Mortgages 397

Mortgages VA loan FHA loan Fixed-rate mortgage 397

Housing Wire

AUGUST 19, 2021

Delinquency rates for mortgage loans on one-to-four-unit residential properties shrank across the board to 5.47% in the second quarter, according to a Mortgage Bankers Association survey published this week. Compared to the previous quarter , the delinquency rate dropped 91 basis points and was down a whopping 275 bps from a year ago.

VA loan 432

VA loan Mortgages FHA loan Loans 432

Housing Wire

NOVEMBER 17, 2021

Refinance mortgage loan applications dipped 31% year-to-year on the week ending Nov. Overall, the Market Composite Index, a measure of the mortgage loan application volume, decreased 2.8% For jumbo loans (greater than $548,250), it remained at 3.26%. VA loans consisted of 10.8%, increasing six basis points.

VA loan 421

VA loan FHA loan Investor Loans 421

Housing Wire

OCTOBER 21, 2022

“Our Issuers and the mortgage servicing industry are integral to the government mortgage system, and they are also adapting and adjusting to market conditions. Industry trade groups cheered the decision to delay the rule’s implementation. Industry trade groups cheered the decision to delay the rule’s implementation.

VA loan 369

VA loan FHA loan Loans Banks 369

Housing Wire

OCTOBER 19, 2022

Large IMBs with portfolio holdings or a non-qualified mortgage (non-QM) loan focus have more risk than smaller IMBs, concluded the CHLA’s latest report, which was issued Wednesday. IMBs’ highest priority is to reduce and align expenses with shrinking loan volume and reduced profit margins.

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VA loan FHA loan Fixed-rate mortgage Banks 409

Housing Wire

MAY 5, 2022

Delinquency rates for mortgage loans on one-to-four unit residential properties dropped 43 basis points to 4.11% from the previous quarter. million loans serviced delinquent in the first three months of this year. million loans serviced delinquent in the first three months of this year. A basis point is 1/100th of one percent.

Mortgages 370

Mortgages FHA loan Loans Residential 370

Housing Wire

DECEMBER 23, 2020

Borrowers looking to refinance their VA and FHA loans contributed to another uptick in mortgage applications for the week ending Dec. The 30-year rate is up to 2.86% in the most recent MBA survey, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. Mortgage applications jumped 0.8%

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Fixed-rate mortgage Mortgages FHA loan Loans 538

Housing Wire

MAY 13, 2021

Amid continued competition from borrowers, the average loan size of a new home reached its highest level in the survey’s history at $377,434. By loan type, conventional loans backed by Fannie Mae and Freddie Mac took the lion’s share at 72.9% of loan applications, followed by just 15.8% of FHA loans, 10.3%

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Sales FHA loan Loans Construction 466

Housing Wire

MARCH 11, 2022

According to data compiled by RMI , total share of H4P volume across the entire reverse mortgage industry made up only 4.2% Most of our loan originators have built referral partnerships over decades in some cases,” Hultquist says of Fairway’s LO corps. of all endorsements in 2021. Harlan Accola. Dan Hultquist. “The

FHA loan 370

FHA loan Due diligence Loan Officer Loans 370

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. and 74.5%, respectively.

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