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

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. “While still strong, this sales pace remains below the 877,000-sales pace seen in the second half of 2020.”. . of loan applications, followed by just 15.8%

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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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Housing Wire

MARCH 6, 2024

“Of note, purchase volume — particularly for FHA loans — was up strongly, again showing how sensitive the first-time homebuyer segment is to relatively small changes in the direction of rates. Meanwhile, rates on jumbo loans (balances greater than $766,550) increased to 7.21%, up from 7.20%.

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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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Housing Wire

MARCH 26, 2024

Of these actions, 2.682 million have been permanent loan modifications and 3.519 million actions have been other forms of assistance that allowed troubled borrowers to stay in their homes. 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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Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. They come in the forms of grants, second mortgages, deferred loans and forgivable loans.

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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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Housing Wire

FEBRUARY 7, 2023

It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed. In fact, it was fairly common a few decades ago.

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Housing Wire

FEBRUARY 27, 2024

Gatling was previously a sales manager at loanDepot , where she spent almost seven years. of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. This role offers me a platform to be more than just a loan officer,” Gatling said in a statement. were conventional loans and 30.5%

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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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Housing Wire

JANUARY 3, 2024

“The housing market has been hampered by a limited supply of homes for sale, but the recent strength in new residential construction will continue to help ease inventory shortages in the months to come,” Kan added. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% from 15% the week prior.

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Housing Wire

OCTOBER 25, 2023

The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers. The average of preapproved borrowers per loan officer fell by 11.6% Meanwhile, the average preapproval loan amount in Q3 decreased slightly by 2.5% The average down payment size was 14.5%

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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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Housing Wire

SEPTEMBER 22, 2023

However, a silver lining in the subdued housing market is the strength in new-home sales. Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. So, the servicing valuation on those loans is strong, because pre-payments are low.

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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%.

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Housing Wire

AUGUST 24, 2023

The national median mortgage payment for FHA loan applicants was $1,854 in July, up from $1,824 in June and up from $1,461 in July 2022. The national median mortgage payment for conventional loan applicants was $2,197, down from $2,205 in June and up from $1,892 in July 2022. Median earnings were up 3.7%

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Housing Wire

APRIL 3, 2024

The CHLA also raises concerns about preexisting biases that may impact borrowers using FHA financing, a bias they contend has been demonstrated in the past. The letter provides a series of prototype loan scenarios that could spin out of the settlement, illustrating CHLA’s arguments.

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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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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 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

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VA loan FHA loan Fixed-rate mortgage Principal 341

HomeLight

DECEMBER 28, 2023

In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. Taking over mortgage payments might initially seem like simply stepping in to pay someone else’s monthly loan bills. What types of loans are assumable? Most conventional loans are not assumable.

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Housing Wire

DECEMBER 4, 2022

Among FHA purchase mortgage holders, more than 20% have slipped underwater, and a full two-thirds have less than 10% equity. . For-sale listings are below 2017-2019 levels and stalled inventory growth is softening downward pressure on home prices. In its seventh consecutive month of cooling, annualized appreciation slowed to 9.3%

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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%. Stronger sales activity may continue in the weeks to come, shows the survey.

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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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Housing Wire

JUNE 23, 2022

The national median mortgage payment for conventional loans was $1,960, down slightly from April’s $1,967, but significantly higher than a year ago, when it was $1,394 in May 2021. Federal Housing Administration (FHA) loan payments rose to $1,430 in May from the previous month’s $1,374. . The agency expects some 5.76

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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. 1, the limit for HECM loans was increased to $1,149,825 by the Federal Housing Administration (FHA). 2024 HECM limit On Jan.

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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. According to Sam Khater, Freddie Mac’s chief economist, despite these persistently low mortgage rates, home sales are facing significant challenges.

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Mortgages FHA loan Loans Finance 498

Housing Wire

MARCH 5, 2024

Typically, the fees are lower than those for new loans and no appraisal is needed. In 2023, the Federal Housing Administration (FHA) and the U.S. trillion in FHA and VA loans. To begin with, assumptions are limited to FHA, VA and U.S. We help listing agents generate significantly more buyers for their home sales.

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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

AUGUST 8, 2023

million in the previous quarter, “primarily driven by higher pull through weighted lock volume and gain on sale margin,” the company told investors. loanDepot’s loan origination volume came in at $6.3 Purchase loans comprised 73% of the total. Total revenues increased to $271.8 million in the second quarter, up from $207.9

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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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Realtor.com

DECEMBER 6, 2022

Pgiam/iStock What is a “due on sale” clause in a mortgage contract? This common phrase, found in most conventional home loan paperwork, means that when a property is sold, the entire balance of the loan comes due. What is a ‘due on sale’ clause? Why do ‘due on sale’ clauses exist?

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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. In the second quarter, Pennymac’s gain-on-sale margin in the channel was just 30 basis points.). billion as of the quarter ended June 30, 2022.

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Housing Wire

SEPTEMBER 21, 2020

Millions of homeowners still have a sizeable incentive to refinance, given the difference between the rate on their current loan and available market rates. 1, 2020, it was not unusual to see lenders quoting higher rates for refinances relative to purchase loans. Even prior to the imposition of this fee, now effective on Dec.

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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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Housing Wire

MARCH 11, 2022

To get a better idea about how big a role H4P will play in Fairway’s plans, RMD sat down with its National Reverse Mortgage Director Harlan Accola and its National Reverse Sales Training Specialist Dan Hultquist to learn more about H4P’s importance to Fairway’s future plans. Diagnosing low H4P uptake. of all endorsements in 2021.

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