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

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

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

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

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

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 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 413

Mortgages VA loan FHA loan Lending 413

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

Inman

FEBRUARY 15, 2024

Borrowers can use the company's Tinman platform to see their rates and get pre-approved in minutes, and may qualify to buy with no down payment.

VA loan 149

VA loan Pre-approval Loans Mortgages 149

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

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 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 Marketing 421

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. ” Raise the (conforming loan) roof. nonbank lenders are wasting no time.

Loans 283

Loans VA loan Lending Mortgages 283

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 482

VA loan Mortgages Loans Principal 482

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.

Loans 116

Loans Purchase and sale agreement VA loan Mortgages 116

Housing Wire

APRIL 15, 2024

Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered. NAR has also reached out to the U.S. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

Agents 530

Agents Seller concession VA loan Finance 530

Housing Wire

MARCH 3, 2022

The Department of Veterans Affairs is giving borrowers impacted by the pandemic an additional fifteen months to get loan payment relief. VA’s Loan Guaranty Service has taken multiple steps to assist veteran borrowers in retaining their homes and overcoming their individual financial situations due to the pandemic,” the spokesperson said.

VA loan 369

VA loan Pre-approval Principal Loans 369

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.

FHA loan 384

FHA loan Mortgages Loan Officer VA loan 384

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 447

VA loan Loans Lending Mortgages 447

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. Currently, all VA appraisals must be performed in-house. VA home loans have given millions of veterans and their families the opportunity to purchase a home.

VA loan 397

VA loan Loans Lending Finance 397

Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. However, that’s not always the case.

VA loan 267

VA loan FHA loan Mortgages Lending 267

Housing Wire

OCTOBER 6, 2023

” PRMG offers a comprehensive range of mortgage products, including conventional, FHA, VA, USDA and jumbo loans. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans. Then, we have all the traditional financing options, including jumbo.”

Mortgages 473

Mortgages VA loan Finance Loans 473

Housing Wire

JANUARY 26, 2022

.” According to the company, jumbo loans will be available for both 15-and-30-year cycles. For qualifying buyers, loans can be distributed in amounts up to $3 million. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans.

Mortgages 368

Mortgages VA loan Pre-approval Lending 368

Housing Wire

MAY 3, 2023

The MBA survey shows the average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.50% last week from 6.55% the prior week. Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis.

Mortgages 397

Mortgages Fixed-rate mortgage Banks Lending 397

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. Bank raised its FICO score requirements to 680 on FHA, VA and USDA loans. Both VA and USDA loans require zero down payment. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements.

VA loan 397

VA loan FHA loan Loans Banks 397

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. The FHA Loan program was created to help low to moderate-income homebuyers, particularly those that do not have enough cash saved for a down payment.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Housing Wire

MARCH 30, 2023

It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. has no more exotic loan debt structures, we don’t have large-scale risk tied to homeowners and banks. What does tighter credit mean for housing?

VA loan 538

VA loan Loans Banks Mortgages 538

Norada Real Estate

MAY 3, 2023

Real estate loans are a crucial part of the real estate industry, providing investors with the necessary funds to purchase, renovate, or refinance properties. From conventional loans to government-backed FHA and VA loans, there are various types of real estate loans available in the market.

Loans 52

Loans VA loan FHA loan Hard money loan 52

Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment. Refi applications dropped to 33.9% Presented by: Polly.

Mortgages 370

Mortgages VA loan Fixed-rate mortgage Banks 370

HomeLight

NOVEMBER 6, 2023

Assuming a mortgage allows you to step into the shoes of the seller and take over their loan, often at a lower interest rate. An assumable mortgage allows a buyer to purchase a home by taking over the seller’s existing mortgage loan. Which mortgage loans are assumable? VA funding fee.

FHA loan 109

FHA loan VA loan Mortgages Marketing 109

Realty Biz

APRIL 5, 2022

However, FHA and VA loans are the only two mortgage loan programs that allow borrowers during Chapter 13 Bankruptcy to be eligible for a home mortgage. FHA and VA guidelines during Chapter 13 Bankruptcy is almost the same. We will cover and discuss qualifying for an FHA and/or VA loan during Chapter 13 Bankruptcy.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

Eye on Housing

JANUARY 26, 2024

In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 Read More ›

VA loan 91

VA loan Sales Finance Loans 91

Housing Wire

JULY 12, 2023

Purchase loans continue to claim a larger share of the origination pipeline as refinance opportunities dwindle, according to Black Knight ’s originations market monitor report. In other words, nearly nine out of every 10 mortgages originated is a purchase loan. Demand for ARM loans dipped slightly to 7.38% of total locks.

Marketing 367

Marketing Loans Lending Mortgages 367

Keeping Current Matters

SEPTEMBER 22, 2021

In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.

VA loan 252

VA loan Lending Loans Sales 252

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval VA loan 370

HomeLight

OCTOBER 15, 2020

We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? A conventional loan is a private mortgage that’s not backed by the federal government (we’ll get to government loans in a bit).

Loans 98

Loans FHA loan Debt-to-income ratio VA loan 98

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 Due diligence HR 79