Housing Wire

DECEMBER 3, 2024

Global analytics software leader FICO on Tuesday announced the launch of the first-ever government-issued mortgage-backed security (MBS) with loans originated using FICO Score 10 T. The MBS pool was issued by Cardinal Financial and included loans from the U.S. Department of Veterans Affairs (VA).

VA loan 382

VA loan Mortgages Loans Lending 382

Housing Wire

JUNE 12, 2024

An analysis released Wednesday by Columbia, Missouri -based lender Veterans United Home Loans revealed that the home loan program through the U.S. Department of Veterans Affairs (VA) has contributed $3.9 The VA loan program — which was established in 1944 through the GI Bill — will celebrate its 80th anniversary on June 22.

VA loan 425

VA loan Loans As-is Mortgages 425

Housing Wire

FEBRUARY 11, 2022

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB). . The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated. In 2020, 3.82

VA loan 384

VA loan Loans Lending Finance 384

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. Who is eligible?

Loans 441

Loans VA loan Mortgages Lending 441

Housing Wire

NOVEMBER 27, 2024

wholesale lender United Wholesale Mortgage (UWM) has taken another aggressive move related to its product set, underscoring its strong commitment to government-backed loans. On Wednesday, the company announced the removal of all loan-level pricing adjustments (LLPAs) on government loans, albeit with some limitations.

Loans 397

Loans Finance Mortgages VA loan 397

Housing Wire

MAY 19, 2025

You’ve lowered the MIP; you’re making that mortgage insurance for that high-LTV loan cheaper. “Builders are doing a lot more of these buydown loans, so they’re able to sacrifice a little on the loan because they can make up for it on the home price,” Curro said. It was a more affordable mortgage.”

Loans 311

Loans Mortgages Banks Finance 311

Housing Wire

DECEMBER 10, 2024

ICE data also showed that technologically adept lenders were ready to meet higher refinance demand, with average closing times among all loan types hitting their lowest levels for the month of October in the five years the company has been tracking the metric. ICE tracks loans before and after a refinance or other prepayment.

Mortgages 365

Mortgages VA loan Loans Closing 365

Housing Wire

DECEMBER 4, 2024

Purchase loan activity drove total applications higher last week, which included an adjustment for the Thanksgiving holiday. Rates for 30-year jumbo loans (balances above $766,550) decreased by 12 bps and averaged 6.85%. In 2025, jumbo loans will increase to a minimum size of $806,501 — a 5.2% in the prior week.

Mortgages 382

Mortgages VA loan FHA loan Loans 382

Housing Wire

JUNE 10, 2025

Credit supply increased to its highest level since August 2022, driven by growth in the supply of both conventional and government loans, as lenders offered a greater variety of loan types to support the spring homebuying season,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement.

VA loan 201

VA loan Mortgages Loans Lending 201

Housing Wire

FEBRUARY 3, 2025

More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending. These companies are at the forefront of solving the biggest challenges mortgage professionals face every day.

Mortgages 387

Mortgages Title Lending Loans 387

Housing Wire

SEPTEMBER 17, 2024

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates. Our veterans deserve better. Click Here

Lending 410

Lending VA loan Loans Mortgages 410

Housing Wire

NOVEMBER 7, 2023

loanDepot has appointed David Smith to the newly-created position of vice president of national VA lending, the company announced on Monday. In this role, Smith, a former Army sergeant, will oversee the lender’s VA lending strategy.

Lending 375

Lending VA loan Loans Mortgages 375

Housing Wire

FEBRUARY 28, 2023

Virginia-based mortgage bank Prosperity Home Mortgage, LLC has acquired the assets of Arizona-based JFQ Lending, LLC to explore the direct-to-consumer channel. The company has 548 active loan officers and 379 branches, per the Modex data. The data shows that 56% are conventional loans and 82% are refinance loans.

Lending 382

Lending VA loan Loan Officer Loans 382

Housing Wire

APRIL 10, 2023

After four years of Congress hiking Veterans Administration (VA) so-called “Bluewater Navy” mortgage loan fees as an offset to pay for other critical veterans’ benefits, Congress has finally let those excessive VA mortgage loan fees expire. Why was CHLA concerned?

Loans 397

Loans FHA loan Mortgages VA loan 397

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

SEPTEMBER 1, 2020

The Consumer Financial Protection Bureau issued a consent order against two companies on Tuesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. On July 24, the CFPB announced consent orders against Sovereign Lending Group, Inc.,

VA loan 483

VA loan Mortgages Loans Lending 483

Housing Wire

SEPTEMBER 23, 2024

California -based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Department of Veterans Affairs (VA) space. loanDepot executive vice president John Bianchi said the hiring reinforces the company’s commitment to VA lending.

VA loan 421

VA loan Lending Loans Loan Officer 421

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

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

APRIL 5, 2022

Dubbed the “Fast 15 Guarantee,” eligible loans for conventional single family homes will be cleared to close in no more than 15 business days from the submission of a complete loan file, according to Rocket Pro TPO, the wholesale arm of the lending giant.

Loans 384

Loans Closing VA loan Mortgages 384

Housing Wire

MARCH 29, 2022

Chasing down missing pages can require several days of back-and-forth correspondence between processors and borrowers, extending loan cycle times and frustrating borrowers. Department of Veterans Affairs (VA), U.S. Perhaps the loan is associated with a construction project that could take an unknown number of months to complete.

Lending 367

Lending Earnest money deposit VA loan Loans 367

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. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan 397

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

Housing Wire

MARCH 13, 2023

Rate and affordability pressures continue to challenge purchase lending, driving homebuyers to alternative loan products. ” The share of locks with adjustable rates rose in February to 10.3%, while nonconforming loans – consisting of 12.2% of the total loan product mix — picked up share.

Loans 370

Loans Mortgages VA loan FHA loan 370

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%

VA loan 458

VA loan Agents Seller concession FHA loan 458

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. And the VA share of total applications increased from 12% to 12.1% The refinance share of mortgage activity decreased to 31.1%

VA loan 445

VA loan Mortgages Fixed-rate mortgage Loans 445

Housing Wire

JANUARY 3, 2023

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. While I’m a fan of improving antiquated systems, I first wonder if the VA, the MBA, or Congress were open enough about the problems with the current system.

VA loan 79

VA loan Loans HR Due diligence 79

Housing Wire

OCTOBER 9, 2024

decline in purchase loan demand. Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” MBA data showed that government lending continues to represent a steady share of the mortgage market.

VA loan 424

VA loan Mortgages FHA loan Loans 424

Housing Wire

SEPTEMBER 4, 2020

The Consumer Financial Protection Bureau issued a consent order against mortgage broker and lender Accelerate Mortgage on Wednesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. August 26, the CFPB settled with PHLoans , Inc.,

VA loan 448

VA loan Loans Lending Mortgages 448

Housing Wire

JUNE 17, 2024

Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Since January 2023, the bank has changed its strategy in home lending to focus on bank customers and minority homebuyers through its retail mortgage teams. Expanding the availability of the Dream.

Closing costs 458

Closing costs Closing VA loan Banks 458

Housing Wire

JUNE 12, 2023

Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes. Overall, May was an improvement over April, but mortgage lending remains constrained. The average purchase price climbed for the sixth consecutive month in May, hitting $454,000, while the average loan amount increased to $360,000.

Loans 421

Loans Mortgages Lending As-is 421

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officer 421

Loan Officer Mortgages VA loan Lending 421

Housing Wire

MARCH 11, 2024

for cash-out loans. Although lock counts were down on a year-over-year basis, the rate of decline is decelerating and suggests we may be nearing a floor for purchase lending in the current rate environment.” The index for Federal Housing Administration (FHA) loans rose 28 bps to 6.66%, while the U.S.

VA loan 450

VA loan FHA loan Loans Lending 450

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

FEBRUARY 10, 2025

Two key factors contribute to this disparity: a lack of knowledge about the VA benefits to which they are entitled, and a limited understanding among sellers and lenders of the strong buyer profile of VA loan borrowers. Its important to take a moment to look back at the history behind VA benefits. In 1944, the U.S.

Industrial 199

Industrial VA loan Lending Loans 199

Housing Wire

MARCH 29, 2024

The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%). The penalties totaled $1.7

Mortgages 415

Mortgages VA loan FHA loan Lending 415

Housing Wire

JUNE 13, 2024

This was especially true for the Federal Housing Administration (FHA) lending segment. Conventional loans comprised 63.4% Department of Veterans Affairs (VA) loans accounting for 9.8% Department of Agriculture (USDA) loans at 0.3%. of all applications, with U.S. year over year , federal data shows.

Mortgages 421

Mortgages VA loan Loans Lending 421

Housing Wire

OCTOBER 11, 2024

Purchase loans (0.9%) had higher levels of risk than refinances (0.58%). CoreLogic determined that the lowest-risk applications by loan type were those from the U.S. Department of Veterans Affairs (VA), which it called consistent with prior years. in 2024 and by 12% in 2023. That shift did not occur this year.

Mortgages 508

Mortgages Sales Loans Lending 508