Housing Wire
FEBRUARY 7, 2023
California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.
Housing Wire
NOVEMBER 2, 2021
In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.
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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%
Housing Wire
JUNE 23, 2022
Homebuyer affordability decreased slightly in May, as new mortgages took up a larger share of a the average person’s income while rates trended higher. High inflation and rising mortgage rates won’t lessen the burden on new home buyers in the coming months. in May from 162.8 99.7), with Alaska (102.6), Connecticut (111.2)
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%
Housing Wire
JUNE 26, 2023
Sixteen percent of home modifications in Q1 were modifications with principal forbearance, the report said. 35% of loan modifications completed in Q1 “reduced borrowers’ monthly payments by more than 20%,” the report’s findings said. The serious delinquency rate also decreased to 0.6%
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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