Housing Wire

FEBRUARY 27, 2024

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. were FHA loans.

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FHA loan Loan Officer Loans Mortgages 409

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 In March, FHA Commissioner Julia Gordon made it a little cheaper.

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FHA loan Loan Officer Loans Mortgages 354

Housing Wire

MARCH 14, 2024

Lisa Moriello, the national retail reverse mortgage sales manager at multichannel lender loanDepot , recently spoke to RMD about how business in 2024 seemed to be off to a promising start. Diving deeper into the current reverse mortgage business environment, she offered additional perspectives on multiple topics.

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Mortgages Loan Officer FHA loan Equity 366

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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Industrial Seller concession Purchase and sale agreement Agents 504

Housing Wire

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. But mortgage insurance? What mortgage insurance does. Mortgage insurance, on the other hand, protects the lender — not you or your property. Types of mortgage insurance.

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FHA loan Mortgages Loan Officer Loans 441

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said. They come in the forms of grants, second mortgages, deferred loans and forgivable loans.

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FHA loan Loans Closing costs Loan Officer 450

Housing Wire

FEBRUARY 15, 2024

Garg expects that “a large percentage” of VA loan applicants through Better will also be able to qualify for the company’s One Day Mortgage program , which was launched a year ago and allows customers to apply for a mortgage, get preapproved, lock their rate and receive a commitment letter within 24 hours. billion in Q3 2022. “VA

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VA loan Loans Loan Officer FHA loan 364

Realtor.com

NOVEMBER 28, 2022

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan. You’ll have to pay mortgage insurance.

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FHA loan Debt-to-income ratio Loans Loan Officer 98

Housing Wire

NOVEMBER 3, 2021

For the first time since the beginning of the pandemic, purchase mortgages outpaced refinancings in the third quarter of 2021, according to the latest TransUnion report published on Wednesday. The total mortgage balances grew 8% year-over-year to $10.5 Jumbo loans had the best performance, up 36.9% trillion in the third quarter.

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Mortgages FHA loan Loan Officer Loans 397

Housing Wire

NOVEMBER 16, 2020

When you get a mortgage, there are several options you can choose from, including FHA, VA, USDA, and conventional mortgages. But choosing the right mortgage product can be difficult — especially if you’ve never bought a home before. Are you confused about your mortgage options? Here are your choices: FHA mortgages.

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VA loan FHA loan Mortgages Loans 485

Housing Wire

OCTOBER 25, 2023

With housing affordability being challenged in a higher mortgage rate environment, fewer homebuyers jumped into the market in the third quarter. The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers. The average down payment size was 14.5%

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FHA loan Marketing Loan Officer Loans 408

Housing Wire

MAY 26, 2021

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The percentage of purchase mortgages increased to 43% of total closed loans.

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Closing Mortgages VA loan FHA loan 450

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%

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VA loan Agents Seller concession FHA loan 456

Housing Wire

APRIL 4, 2022

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. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

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FHA loan Debt-to-income ratio Pre-approval VA loan 368

Housing Wire

MARCH 24, 2022

The one-two punch of higher mortgage rates and escalating home prices reduced homebuyers ’ ability to buy homes in February. The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday by the Mortgage Bankers Association.

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FHA loan Fixed-rate mortgage Loan Officer Principal 511

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. The differences between FHA, VA, and USDA mortgages. You may also be able to use an FHA loan to buy your home, but there are caveats. Hard money loans. More for Real Estate Enthusiasts.

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FHA loan Hard money loan Loans Finance 466

Housing Wire

MAY 25, 2021

Mortgages would be subject to FHA loan limits. Homebuyers would pay an up-front mortgage insurance premium of 3.6 Police officers, prison guards, firefighters, paramedics, emergency medical technicians and public or private school teachers would all be eligible. Representatives John Rutherford (R-Fla.),

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FHA loan VA loan Loans Loan Officer 473

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

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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FHA loan Bankruptcy Marketing Loans 444

Housing Wire

MARCH 11, 2022

Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. So real estate agents automatically get nervous [about a HECM being] an FHA loan. Harlan Accola.

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FHA loan Due diligence Loan Officer Loans 353

Housing Wire

OCTOBER 27, 2020

Your credit plays a huge part in your ability to get a mortgage. It influences what loans you’re eligible for, how much you can take out, and how much you’ll pay in interest over the life of your loan. Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means.

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Debt-to-income ratio VA loan FHA loan Loan Officer 335

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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Loans FHA loan Mortgages Loan Officer 426

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

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Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

SEPTEMBER 29, 2020

As the Fed pulls out all the stops to stimulate economic activity, mortgage rates have reached record lows. This sounds like great news for lenders, for whom millions of newly refi-eligible mortgages means a lot of new business coming in. But, as mentioned, history has demonstrated that refis go up and down in dramatic swings.

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Lending Loan Officer Branding Loans 421

Real Trends

NOVEMBER 11, 2022

FHA loans aim to make homeownership possible for borrowers with less-than-perfect credit and without a large down payment requirement. Backed by the Federal Housing Administration, FHA loans have more competitive interest rates, something that could be key for buyers in today’s market. Shared equity financing.

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Finance VA loan FHA loan Agents 106

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. It offsets the amount you need to borrow for a mortgage. Or, you can choose not to increase your purchase price and simply enjoy cheaper mortgage payments. Mortgage insurance. USDA loans.

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FHA loan VA loan Loans Loan Officer 96

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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Loans Mortgages Loan Officer Pre-approval 386

Realtor.com

DECEMBER 20, 2021

This money is crucial to snagging a mortgage and getting that much closer to homeownership. “The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , for an FHA loan. to 1% of your loan amount each year.

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Pre-approval Loans Loan Officer VA loan 137

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

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Mortgages FHA loan Loan Officer Construction 484

Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. If you have only limited credit, you may not qualify for a mortgage at all. This saves buyers money on their monthly mortgage payments.

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Loans FHA loan Finance Loan Officer 111

Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. If you have only limited credit, you may not qualify for a mortgage at all. This saves buyers money on their monthly mortgage payments.

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Loans FHA loan Finance Loan Officer 98

Realtor.com

APRIL 2, 2021

Ferrara/Newsday RM via Getty Images The mortgage market is humming, but getting approved for a home loan is as difficult as it has been in years. Mortgage credit availability, a measure of lenders’ willingness to issue mortgages, is near its lowest level since 2014, according to the Mortgage Bankers Association, or MBA.

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Mortgages Marketing Lending Loans 60

HomeLight

SEPTEMBER 30, 2020

Mortgage payments can take up a good chunk of your income, especially with a new home. And the interest you pay on that mortgage loan is nothing to sneeze at. In 1982, mortgage rates hit an annual average of 16.03%. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72

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Mortgages Fixed-rate mortgage Equity Loans 98

HomeLight

OCTOBER 15, 2020

Finally, you’re ready to buy that dream home and tackle this whole mortgage thing once and for all. We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? Non-conforming loans.

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Loans FHA loan Debt-to-income ratio VA loan 93

HomeLight

OCTOBER 2, 2020

Mortgages are some of the most complicated loans that you can get, and they include a number of associated fees. While a good lender, mortgage broker, or real estate agent will explain mortgage fees to you before the closing , many borrowers still find themselves surprised at the total cost. Mortgage broker fee.

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Mortgages Title Loans VA loan 95

HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. Mortgage loan costs. Mortgage broker fee.

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Closing costs Closing Mortgages Title 104

C4D Crew

JANUARY 13, 2022

Take a look at your current debt versus your income and consider how much money you can afford on a monthly mortgage. Make sure to include everything in your estimate, including groceries and student loans. Most loans require at least a 3.5% Getting a Loan. Conventional loans are the most popular option for buyers.

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Loans Closing Pre-approval VA loan 52