Housing Wire

AUGUST 31, 2023

Mars Bank — an independent community bank in Pennsylvania — offers mortgage lending, retail and commercial banking in six locations throughout the state. Mars Bank held $520.8 million in assets as of June 30, 2023.

Banks 313

Banks FHA loan Lending Equity 313

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based based think tank Urban Institute to hear their takes. So it’s kind of a mixed message,” he explained.

FHA loan 316

FHA loan Loan Officer Loans Mortgages 316

Housing Wire

OCTOBER 19, 2023

By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% We are paying off her current mortgage balance of $280,000 while maintaining more than $200,000 in home equity,” said Anderson, who runs the mortgage broker shop Rancho Capital Home Loans. Credit scores for FHA loan borrowers could go down even lower.

Mortgages 468

Mortgages FHA loan Equity Loans 468

Housing Wire

SEPTEMBER 29, 2020

Will they be able to help borrowers construct FHA loans — which have been among those hit the hardest by COVID-19? Be proactive now about balancing your lending diet, equipping your staff to handle a range of responsibilities and solidifying your brand’s presence in the marketplace. Live in the moment, but plan for the future.

Lending 379

Lending Loan Officer Branding Loans 379

Housing Wire

FEBRUARY 7, 2023

of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. In a June 2022 letter, nonbank trade group Community Home Lending Association suggested increasing the lender fee to 2%, plus a $500 underwriting fee.

FHA loan 351

FHA loan Mortgages Loan Officer VA loan 351

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.

FHA loan 109

FHA loan Loans Pre-approval Pre-qualification 109

Housing Wire

JUNE 5, 2023

Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. For first-time homeowners, having the capital for a down payment is the biggest barrier, Brok said.

Loan Officer 355

Loan Officer Loans Mortgages FHA loan 355

Housing Wire

APRIL 10, 2023

The disproportionate surge in purchase lending pushed the refi share of the market mix down to a current cycle low of just 13%. That, combined with a recent reduction in FHA mortgage insurance premiums and a mid-month increase in the FHA-to-conforming spread, made FHA loans comparatively more attractive,” Walden said.

FHA loan 319

FHA loan Marketing Lending Mortgages 319

Housing Wire

MARCH 12, 2024

Financing options While the proportion of Latino buyers who used Federal Housing Administration ( FHA ) loans declined between 2018 and 2022, there may have been an uptick in 2023, according to NAHREP. I’ve even seen grandparents jump in. So, I did see that spike this year.”

FHA loan 431

FHA loan Loans Finance Lending 431

Housing Wire

SEPTEMBER 27, 2022

.” The latest layoff announcement from the country’s second-largest lender comes amid faltering home lending business. Home lending revenue dropped to $972 million in the second quarter, a sequential drop from the previous quarter’s $1.5 billion in revenue from home lending. Citi , JP Morgan Chase and U.S.

FHA loan 321

FHA loan Lending Banks Finance 321

Housing Wire

NOVEMBER 28, 2023

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

FHA loan 459

FHA loan Loans Finance Lending 459

Housing Wire

NOVEMBER 7, 2023

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. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

VA loan 429

VA loan Agents Seller concession FHA loan 429

Housing Wire

FEBRUARY 15, 2024

Looking ahead, Garg expects the Tinman platform to expand to Federal Housing Administration (FHA) loans, nonqualified mortgages (non-QM), home equity lines of credit and other consumer finance products unrelated to home lending. The plan is to distribute the product through its network of partners as it scales.

VA loan 313

VA loan Loans Loan Officer FHA loan 313

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.

FHA loan 91

FHA loan Loans Inspection Mortgages 91

Housing Wire

MARCH 25, 2021

Gone are the days when you had to put 20% down to get approved for a loan to purchase a home. For example, a conventional loan lets you put as little as 3% down. An FHA loan requires as little as 3.5% One good thing about student loans is they typically don’t have as high of an interest rate as other loans.

Debt-to-income ratio 492

Debt-to-income ratio Loans FHA loan Finance 492

Housing Wire

FEBRUARY 27, 2024

were conventional loans and 30.5% were FHA loans. Patty Arvielo, who founded NAF in 2003 with her husband Rick Arvielo, said that Gatling’s extensive knowledge and experience in the mortgage industry, as well as her promotion of homeownership for previously underserved populations, make her a “perfect fit” for the company.

FHA loan 366

FHA loan Loan Officer Loans Mortgages 366

Housing Wire

MARCH 13, 2023

Rate and affordability pressures continue to challenge purchase lending, driving homebuyers to alternative loan products. ” The share of locks with adjustable rates rose in February to 10.3%, while nonconforming loans – consisting of 12.2% of the total loan product mix — picked up share.

Loans 320

Loans Mortgages VA loan FHA loan 320

Housing Wire

NOVEMBER 21, 2022

The prior FHA rule had been in place since 1968, when the private insurance market was non-existent, and it mandated that FHA borrowers with properties in flood hazardous areas must purchase food in insurance obtained through the National Flood Insurance Program (NFIP). .

FHA loan 339

FHA loan Mortgages Loans Lending 339

Housing Wire

JANUARY 19, 2024

Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A. According to the mortgage recruiting platform Modex , the company originated about $350 million in 2023, down from about $511 million in 2022 and $825 million in 2021.

Mortgages 365

Mortgages FHA loan Loan Officer Loans 365

Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage.

VA loan 263

VA loan FHA loan Mortgages Lending 263

Housing Wire

APRIL 13, 2021

The implications of this shift touch nearly every area of mortgage lending, which in turn has implications for the wider economy.” But the top 20 metros were neck-and-neck for whether purchases or refis made up more of the lending pie. ” Despite refi activity in freefall, overall rate lock volume was up 2.5%

Mortgages 403

Mortgages Marketing FHA loan Lending 403

Housing Wire

MAY 25, 2023

The company had 53 active loan officers and 30 branches, per the Modex data. According to its website, Colonial offered fixed-rate loans, Federal Housing Administration (FHA) loans, U.S. loans, adjustable rates, and home equity, among others. Department of Veteran Affairs (V.A.)

Mortgages 344

Mortgages FHA loan Loan Officer Banks 344

Housing Wire

APRIL 4, 2022

The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD.

FHA loan 349

FHA loan Debt-to-income ratio Pre-approval VA loan 349

Housing Wire

AUGUST 16, 2023

HousingWire: 2023 has been rough for mortgage lending with mortgage applications down around 60%, what is CreditXpert seeing from a demand side when it comes to credit inquiries? Mike Darne: We are also seeing a major dip in mortgage credit inquiries, but it is less pronounced than what the industry is seeing in terms of applications.

FHA loan 297

FHA loan Lending Mortgages Loans 297

Housing Wire

AUGUST 8, 2023

“While we continue the work of resetting our cost structure to align with generationally low unit volumes, we are also focused on the other pillars of Vision 2025, including capturing opportunities inherent in our strategy to expand purpose-driven lending that supports first-time homebuyers and diverse communities,” Martell said.

FHA loan 285

FHA loan Principal Lending Loans 285

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. It did not admit to any wrongdoing.

Mortgages 478

Mortgages FHA loan Lending Equity 478

HomeLight

NOVEMBER 6, 2023

Here are some common types of mortgage loans and their assumability: 1. FHA loans Federal Housing Administration ( FHA ) loans are often assumable. This means that a qualified buyer can take over the existing FHA loan, subject to lender approval. You will also be required to pay the standard 0.5%

FHA loan 102

FHA loan VA loan Mortgages Marketing 102

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. Unlike Fannie and Freddie, however, Ginnie does not purchase loans.

Mortgages 356

Mortgages Lending Loans Banks 356

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements. USDA loans, on the other hand, are options for rural homebuyers.

VA loan 335

VA loan FHA loan Loans Banks 335

Realty Biz

JULY 23, 2023

Recent changes and technological advancements are shaping the lending landscape. Understanding the available options can help navigate the loan process successfully. These loans often have more flexible requirements compared to conventional loans, making them accessible and attractive for those with 1099 income.

Debt-to-income ratio 97

Debt-to-income ratio FHA loan Lending Loans 97

Keeping Current Matters

DECEMBER 7, 2021

The ability to qualify for a mortgage at the current lending standards. The FHFA (which handles mortgages by Freddie Mac , Fannie Mae , and the Federal Housing Administration ) is raising its loan limit for prospective purchasers in 2022. The Federal Housing Administration (FHA) also increased its Conforming Loan Limits for 2022.

FHA loan 243

FHA loan Loans Lending Equity 243

Housing Wire

JUNE 22, 2023

Connecticut-based lender and servicer Planet Home Lending announced on Thursday a deal that boosts its servicing portfolio, which the company claims is already above the $90 billion mark. Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC.

Closing 278

Closing Lending Loans Commercial 278

Realty Biz

MARCH 28, 2023

Real estate investors often can’t find the same types of attractive home lending terms as those who are purchasing a residential home exclusively to live in. FHA Loans With backing from the Federal Housing Administration, an FHA loan has extremely low credit requirements and can be obtained for down payments as modest as 3.5

VA loan 104

VA loan FHA loan Debt-to-income ratio Investor 104

The Mortgage Report

AUGUST 17, 2020

Due to coronavirus, there are new rules for self-employed home buyers who want to use FHA loans. Learn about new lending rules here.

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FHA loan Lending Mortgages Loans 111

Rent, Buy & Sell

FEBRUARY 7, 2021

As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Consider alternative mortgage options: If traditional mortgages don't work out, explore alternative options such as FHA loans, VA loans, or USDA loans.

Finance 118

Finance Debt-to-income ratio FHA loan Mortgages 118

Realty Biz

APRIL 5, 2022

Homebuyers and/or homeowners can qualify for an FHA and/or VA loan during Chapter 13 Bankruptcy one year into the Chapter 13 repayment plan. Lending guidelines on FHA and VA loans are almost identical. Lender Overlays which are lending requirements that is above and beyond the minimum agency guidelines.

Bankruptcy 134

Bankruptcy Debt-to-income ratio VA loan FHA loan 134