Housing Wire

SEPTEMBER 15, 2023

Our way of honoring first responders is by educating our podcast listeners, readers and coaching clients in the real estate industry about how to help those who helped all of us and are still being of service every day. FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans.

VA loan 421

VA loan Loans Mortgages Closing costs 421

Housing Wire

DECEMBER 3, 2023

Loans in active foreclosure inched up to 217,000, but remained more than 25% below pre-pandemic levels. About 70% of loans currently three or more payments past due are protected from foreclosure by ongoing loss mitigation efforts. In 2024, roughly 75% of originations expected to come from purchase loans. for VA loans.

Equity 441

Equity VA loan FHA loan Mortgages 441

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. 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. “VA loans are probably the best loans on the market.

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VA loan Agents Seller concession FHA loan 458

Housing Wire

JANUARY 12, 2022

Joel Kan, associate vice president of economic and industry forecasting at the MBA, said in a statement that the increase in mortgage rates is curtailing refinance activity. Mortgage rates increased significantly across all loan types last week as the Federal Reserve ’s signaling of tighter policy ahead pushed U.S.

Loans 441

Loans Fixed-rate mortgage Mortgages VA loan 441

Housing Wire

NOVEMBER 7, 2023

Unfortunately, too many veterans, as well as too many real estate professionals, don’t have the understanding they need to successfully utilize VA loans. He has two decades of industry experience, with stints at Prudential Real Estate , USAA , Wells Fargo , and Mutual of Omaha.

Lending 377

Lending VA loan Loans Mortgages 377

Housing Wire

MARCH 5, 2024

Typically, the fees are lower than those for new loans and no appraisal is needed. Department of Veterans Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to The Wall Street Journal. trillion in FHA and VA loans. To begin with, assumptions are limited to FHA, VA and U.S.

VA loan 441

VA loan Mortgages Loans Agents 441

Housing Wire

MARCH 29, 2024

The Consumer Financial Protection Bureau (CFPB) this week released its 2023 Consumer Response Annual Report , offering an overview of consumer complaints in a variety of industries overseen by the bureau. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

Mortgages 416

Mortgages VA loan FHA loan Lending 416

Housing Wire

MARCH 29, 2024

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA).

Mortgages 417

Mortgages VA loan Principal Loans 417

Housing Wire

JANUARY 19, 2022

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, the 30-year fixed rate reached 3.64%, more than 30 basis points over the past two weeks. Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement.

Loans 397

Loans Mortgages VA loan Fixed-rate mortgage 397

RISMedia

AUGUST 31, 2020

VA loans are having a record 2020. According to mortgage lender Veterans United Home Loans, the VA loan program backed more than 865,000 loans so far this year. The post Report: VA Loans Surge Amidst Pandemic appeared first on RISMedia's Housecall.

VA loan 119

VA loan Loans Mortgages Industrial 119

Housing Wire

MARCH 25, 2024

Department of Veteran Affairs (VA) to expedite regulatory change that would allow veterans and active-duty service members to fund buyer’s broker commissions when purchasing a home with a VA mortgage. as proper local variances, under current VA regulations.“ “We

Agents 441

Agents VA loan Loans Mortgages 441

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

VA loan 397

VA loan Agents Pre-approval Debt-to-income ratio 397

Housing Wire

FEBRUARY 8, 2024

Delinquent home loans on one- to four-unit properties rose to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of Q4 2023, up from 3.62% in the previous quarter but slightly below the rate of 3.96% a year earlier, according to MBA ’s National Delinquency Survey. in the previous quarter.

Mortgages 428

Mortgages VA loan Loans Staging 428

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 384

Lending Industrial Mortgages Loans 384

Housing Wire

OCTOBER 25, 2023

The share of Federal Housing Administration (FHA) loan activity inched up to 15.2% The share of Department of Veterans Affairs (VA) loan activity was 10.5%, down from 10.7% the week prior while the share of Department of Agriculture (USDA) loan activity decreased to 0.4% from 14.8% for the week ending Oct.

Mortgages 450

Mortgages VA loan FHA loan Loans 450

Housing Wire

SEPTEMBER 23, 2020

Loan servicers operate between a rock and a hard place today. OK, but then the current economic climate adds levels of complexity, with loan modifications, forbearances and confusion about compliance. They must do all that, while also remaining compliant in handling, notifying borrowers of options or modifying the loan.

Loans 370

Loans VA loan Lending Technology 370

Housing Wire

JUNE 30, 2023

According to the company’s statement, “The relevant loans, some dating back 15 years, make up less than a half percent of our total federal loans originated during this time frame. Like its peers, Movement has the authority to originate and underwrite loans without first having the government review them.

Loans 384

Loans Mortgages Land Development 384

Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

VA loan 410

VA loan FHA loan Fixed-rate mortgage Loans 410

Housing Wire

MARCH 28, 2024

The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loan officers. The lender posted production of $3 billion across 8,569 loans in full year 2023.

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Loan Officer VA loan Loans Technology 431

Housing Wire

NOVEMBER 13, 2023

Affordability headwinds continued in the mortgage industry with mortgage rate lock volume remaining virtually flat in October. FHA and VA loan rates rose 26 bps and 40 bps, respectively, both finishing the month at 7.4%. Rate-lock-dollar volume was also flat in October, ticking up 0.5% month over month. in September.

Mortgages 429

Mortgages VA loan Loans Investor 429

Housing Wire

DECEMBER 15, 2023

In a pair of lawsuits filed in a state court in Dallas County, each targeting one of the lenders, homeowners allege that the companies’ employees induced them into entering refinancing agreements and skipping the first one or two payments on their new loan. ”

VA loan 323

VA loan Loans Mortgages Industrial 323

Housing Wire

AUGUST 19, 2021

Delinquency rates for mortgage loans on one-to-four-unit residential properties shrank across the board to 5.47% in the second quarter, according to a Mortgage Bankers Association survey published this week. Compared to the previous quarter , the delinquency rate dropped 91 basis points and was down a whopping 275 bps from a year ago.

VA loan 432

VA loan Mortgages FHA loan Loans 432

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

Lending 421

Lending Mortgages VA loan Finance 421

Housing Wire

FEBRUARY 16, 2023

The delinquency rate for mortgage loans on one- to four-unit residential properties rose 51 basis points from the previous quarter to a seasonally adjusted rate of 3.96% of all loans outstanding in the fourth quarter of 2022, according to the Mortgage Bankers Association (MBA). “As by the end of 2023.

Mortgages 421

Mortgages Equity VA loan FHA loan 421

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

VA loan 370

VA loan FHA loan Fixed-rate mortgage Principal 370

Housing Wire

DECEMBER 8, 2021

“Mortgage rates declined for the first time in a month, prompting a pickup in refinancing, with government refinances increasing more than 20% over the week,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. VA loans comprised 10.7%, increasing seven basis points.

FHA loan 441

FHA loan Mortgages VA loan Fixed-rate mortgage 441

Housing Wire

APRIL 11, 2024

During the hour-long episode, they discussed everything from Sears’ reaction to assuming the role of president, his first three months on the job, NAR’s commission lawsuit settlement agreement , and changes he is working to enact within NAR and across the broader real estate industry. Department of Veterans Affairs (VA) loans.

VA loan 431

VA loan Loans As-is Development 431

Housing Wire

DECEMBER 22, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that the average purchase loan increased to $416,200. VA loans comprised 11.5%, an increase of nine basis points. Meanwhile, the share of FHA loans remained unchanged at 9.6% The share of USDA loans was 0.5%.

Mortgages 397

Mortgages VA loan FHA loan Fixed-rate mortgage 397

Housing Wire

NOVEMBER 24, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that purchase activity increased for the third straight week, as housing demand remains robust, even as the housing market approaches the typically slower holiday season. VA loans consisted of 10.3% Refi represented 63.1%

Mortgages 432

Mortgages VA loan FHA loan Fixed-rate mortgage 432

Housing Wire

NOVEMBER 30, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said mortgage rates rose for the third week in a row, reducing incentives for many borrowers to refinance. The average loan amount increased to $414,700, the highest since February. VA loans consisted of 10% of the share, decreasing three basis points.

Mortgages 397

Mortgages VA loan FHA loan Fixed-rate mortgage 397

Housing Wire

MAY 25, 2022

“The 30-year fixed rate declined for the second straight week to 5.46% but remains well above what borrowers were used to over the past two years,” Joel Kan, associate vice president of economic and industry forecasting at MBA said, in a statement. and the Veterans Affairs (VA) loans fell to 10.4% from 10.5% in the prior week.

Fixed-rate mortgage 432

Fixed-rate mortgage Mortgages VA loan Loans 432

Housing Wire

DECEMBER 23, 2021

The 15-basis point improvement continues to point to the effectiveness of initiatives taken by policy makers and industry participants over the pandemic period to help borrowers stay in their homes. have a GSE loan, 2.9% have FHA/VA loans, and 2.5% are portfolio held and privately securitized loans.

Mortgages 421

Mortgages VA loan Loans Industrial 421

Housing Wire

JUNE 1, 2022

“Mortgage rates fell for the fourth time in five weeks, as concerns of weaker economic growth and the recent stock market sell-off drove Treasury yields lower,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. the prior week, and the VA loan share dropped to 10.2% of total applications from 32.3%

Fixed-rate mortgage 432

Fixed-rate mortgage Mortgages VA loan Loans 432

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%. VA loans consisted of 10.8%, increasing six basis points.

VA loan 421

VA loan FHA loan Investor Loans 421

Housing Wire

OCTOBER 21, 2022

“Our Issuers and the mortgage servicing industry are integral to the government mortgage system, and they are also adapting and adjusting to market conditions. Industry trade groups cheered the decision to delay the rule’s implementation. Industry trade groups cheered the decision to delay the rule’s implementation.

VA loan 369

VA loan FHA loan Loans Banks 369

Housing Wire

OCTOBER 19, 2022

Large IMBs with portfolio holdings or a non-qualified mortgage (non-QM) loan focus have more risk than smaller IMBs, concluded the CHLA’s latest report, which was issued Wednesday. IMBs’ highest priority is to reduce and align expenses with shrinking loan volume and reduced profit margins.

VA loan 409

VA loan FHA loan Fixed-rate mortgage Banks 409

Housing Wire

MAY 4, 2022

from the prior week, fueled by increased conventional, Federal Housing Administration (FHA) and Veterans Affairs (VA) loan-application volume. The average contract interest rate for 30-year fixed-rate mortgages with jumbo-loan balances (greater than $647,200) jumped to 4.92 The seasonally adjusted purchase index rose 4.1%

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Fixed-rate mortgage Mortgages VA loan Loans 370