UWM now offering ultra-low mortgage rates on FHA loans

Housing Wire

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. on FHA loans, the company announced in a statement on Wednesday.

FHA loans: FHA rates and requirements for 2020

The Morgtage Report

FHA loans are easier to qualify for than many other mortgages. FHA rates are low, but come with mortgage insurance. See current FHA rates and requirements. FHA Home Buying FHA loan FHA Mortgage MIP Mortgage mortgage rates U.S.

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FHA loan limits increase for single-family and multifamily loans

The Morgtage Report

Current FHA loan limits for every U.S. Check your local FHA loan limit for 1-unit, 2-unit, 3-unit, and 4-unit homes. FHA Home Buying Mortgage News FHA Housing Loan Limits Mortgage mortgage rates

New-year optimism reflected in mortgage applications jump

Housing Wire

Mortgage applications jumped 16.7% drop last week , according to the Mortgage Bankers Association. The 30-year fixed mortgage rate climbed two basis points to 2.88%, but the 15-year fixed rate fell to 2.39% — a survey low. The FHA share of total applications decreased to 9.6%

Refinance wave boosts mortgage applications 3.8%

Housing Wire

With mortgage rates continuing to hover near record lows, mortgage applications jumped 3.8% last week according to a report from the Mortgage Bankers Association (MBA). Mortgage rates continue to hover at record lows this fall.

Mortgage applications drop over holidays

Housing Wire

Mortgage applications dropped 4.2% from two weeks prior , according to the latest report by the Mortgage Bankers Association. But mortgage applications dropped during the week ending Jan. The FHA share of total mortgage applications remained unchanged from 10.1%

The 9 best FHA mortgage lenders for 2021

The Morgtage Report

FHA lenders offer low down payments and competitive rates, even for borrowers with bad credit. Here are the best FHA-approved lenders for your home loan.

Loans in forbearance gain after 6 weeks of decline

Housing Wire

After six weeks of steady declines, the number of mortgages in active forbearance rose by 21,000 last week, according to a new report. to 7.3% – a total of 28,000 new loans in forbearance. The post Loans in forbearance gain after 6 weeks of decline appeared first on HousingWire.

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Mortgage applications increase for fourth time in 5 weeks

Inman

Mortgage applications and refinance applications increased during the week ending December 11, 2020, according to the Mortgage Bankers Association's weekly survey.

After record fall of 18%, forbearances rose slightly last week

Housing Wire

After plummeting 18% the week prior, the number of mortgages in active forbearance rose by 19,000 last week, according to a new report by Black Knight on Friday. Though the raw number increased, the number of all mortgages in active forbearance remained at 5.6% , unchanged from the week prior.

Mortgage applications increase for second straight week

Housing Wire

Borrowers looking to refinance their VA and FHA loans contributed to another uptick in mortgage applications for the week ending Dec. 18, according to the latest report from the Mortgage Bankers Association. Mortgage applications jumped 0.8%

Mortgage applications decline

Inman

The volume of mortgage applications declined 2.5 11, according to the Mortgage Bankers Association's weekly survey. percent for the week ending Sept.

For the first time since April, forbearances fall below 3 million

Housing Wire

After a slight uptick the previous week, mortgages in active forbearance plummeted 18%, marking the first time since mid-April the total number of plans fell below 3 million, Black Knight said in a report on Friday. In the week prior, portfolio-held and private labeled security loans were largely responsible for the slight increase, with forbearance share gaining to 7.3% for a total of 28,000 new loans in forbearance.

Share of mortgages in forbearance drops to lowest level since April

Inman

Mortgages in forbearance decreased from 6.93 20, according to the Mortgage Bankers Association. Analysis Data Markets & Economy Mortgage fannie mae FHA loans freddie mac ginnie mae independent mortgage banks Mike Fratantoni mortgage bankers association mortgage forbearance VA loan

Share of mortgages in forbearance continues decline, falling to 7.4%

Inman

For the eighth week in a row, total loans in forbearance have declined. Currently, there are about 3.7 million homeowners enrolled in forbearance plans.

Mortgage applications drop 5.1%

Inman

The decline in loan application activity may be a result of rising coronavirus cases in many states, as well as the delay of a new government-issued stimulus package.

Mortgage rates fall to new record low at 2.71%

Housing Wire

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%.

As mortgage rates drop, loan applications rise 2.9%

Inman

The market composite index, which measures mortgage loan application volume, increased by 2.9 percent on a seasonally adjusted basis.

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The differences between home and mortgage insurance

Housing Wire

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. Types of mortgage insurance.

Mortgage underwriting challenges in the pandemic

Housing Wire

For mortgage underwriting, credit scores became more important than ever in 2020 when dealing with lenders. Not only were mortgage rates high for borrowers with under-700 credit scores, many lenders began charging “discount points” for low credit.

Time to close on mortgages growing amid soaring volume

Housing Wire

Ellie Mae ’s Origination Insight report for October demonstrates some of the side effects of the historically low mortgage rates we’ve seen in 2020: incredibly high volume and an increase in time-to-close. FHA loans remained the same, holding steady at 3.01% in October.

Amid Record Low Rates, Refinancing Flourishes

Eye on Housing

Over the last two weeks, the Mortgage Bankers Association’s tracked 30-year fixed-rate mortgage average rate fell by 14 basis points to 3.06%, a new record low in the series.

The differences between FHA, VA, and USDA mortgages

Housing Wire

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. Here are your choices: FHA mortgages.

FHA homeowners have the most to lose during economic upheaval

Inman

Three chief economists share how FHA homeowners have been disproportionately impacted by 2020's coronavirus-induced unemployment boom and what it means for next year's market.

FHA mortgage qualifying gets tougher for the self-employed

The Morgtage Report

Due to coronavirus, there are new rules for self-employed home buyers who want to use FHA loans. Buying a home FHA Home Buying Mortgage NewsLearn about new lending rules here.

MBA forecast for 2021: Prepare for rising mortgage interest rates

Housing Wire

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. MBA forecasts mortgage originations to total $3.18

Q2 2020 National Delinquency Survey

Eye on Housing

states, Puerto Rico, and the District of Columbia experienced quarterly percentage increases in home loans past due, according to the seasonally adjusted Q2 2020 results of the Mortgage Bankers Association’s (MBA) Q2 2020 National Delinquency Survey.

Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit

Housing Wire

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. billion in loans during the first half of the year.

Guild Mortgage is going public – Let’s look at the numbers

Housing Wire

Add lender-servicer Guild Mortgage to the ranks of the nonbank mortgage lenders going public. million from its originations business but lost $148 million from mortgage servicing. billion in mortgage loans held for sale. It retained servicing on 85% of its loans.

More homeowners are relying on forbearance to ride out the pandemic

Realty Biz

Around 37,000 mortgages were added to forbearance programs in the week ending Dec. 15, which means the total now stands at 2.787 million loans. s total of 53 million mortgages, Black Knight data shows. loans.

How big of a down payment do you really need?

Housing Wire

But the truth is, your down payment depends on your lender, credit score and the type of mortgage you qualify for. For example, some loans require as little as 3% down. . A down payment is the money you pay upfront when applying for a mortgage to buy a home.

FHA raises loan limit by nearly $25,000 for 2021

Housing Wire

Given massive year-over-year gains in home prices , the Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760.

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New home applications drop in November

Housing Wire

from a year ago, but new home applications decreased from October, according to the Mortgage Bankers Association builder application survey. The average loan size of new homes increased from $355,684 in October to $357,554 in November, according to the survey.

UWM will partially refund borrowers for late appraisals

Housing Wire

United Wholesale Mortgage ( UWM ) unveiled a new policy this week, telling brokers that appraisals will be completed within 10 business days or they’ll refund 50% of the appraisal cost back to the customer. It’s also offering ultra-low rate mortgages on FHA loans.

Short Sale Mortgage Loans: What Borrowers Need To Know

HomeLight

Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. Can you get a mortgage loan for a short sale?