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). . Last year, mortgage interest rates reached record lows. This translates into an average of $56 billion in mortgage originations per year.

VA loan 384

VA loan Loans Lending Finance 384

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report. were pending with the bureau.

Mortgages 356

Mortgages VA loan FHA loan Lending 356

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 376

Lending Industrial Mortgages Loans 376

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. Full-service mortgage company Prosperity, a subsidiary of HomeServices of America , originated about $8.5 billion in June 2022 to $460 million in December 2022.

Lending 347

Lending VA loan Loan Officer Loans 347

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. Typically, the fees are lower than those for new loans and no appraisal is needed. trillion in FHA and VA loans.

VA loan 424

VA loan Mortgages Loans Agents 424

Real Trends

DECEMBER 14, 2022

For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. Agents shouldn’t hesitate to ask questions and seek guidance in the world of VA loans.

VA loan 103

VA loan Loans Lending Loan Officer 103

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 456

VA loan Agents Seller concession FHA loan 456

Housing Wire

MARCH 11, 2024

The spring homebuying season kicked off with a monthly jump in purchase mortgage locks despite rising interest rates. for cash-out loans. for cash-out loans. Overall, 86% of originations in February consisted of purchase mortgages, with refis accounting for 14%. for rate-and-term refis and by 3.1%

VA loan 437

VA loan FHA loan Loans Lending 437

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. The most recent cases were those against Service 1st Mortgage, Inc. ,

VA loan 445

VA loan Mortgages Loans Principal 445

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 356

Loans Mortgages VA loan FHA loan 356

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 153

VA loan Pre-approval Loans Mortgages 153

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.

FHA loan 379

FHA loan Mortgages Loan Officer VA loan 379

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 473

Mortgages VA loan Finance Loans 473

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. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 394

VA loan Agents Pre-approval Debt-to-income ratio 394

Housing Wire

JANUARY 26, 2022

Tomo , a fintech mortgage startup run by former Zillow executives, is expanding its presence, announcing this week that it will now serve borrowers in Florida, Connecticut and Colorado. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Refinancing is also not an option.

Mortgages 335

Mortgages VA loan Pre-approval Lending 335

Housing Wire

MAY 5, 2022

Mortgage rates surged to 5.27% over the last week, the highest average since 2009, according to the latest Freddie Mac PMMS. This week’s average purchase mortgage rate rose 17 basis points from the prior week’s 5.10%. This week, mortgage application volume rose 2.5% from the previous week. Presented by: Polly.

Mortgages 368

Mortgages VA loan Fixed-rate mortgage Banks 368

Housing Wire

APRIL 15, 2024

Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered. If the settlement is approved by the court, although agents and home sellers will not be able to list offers of compensation on the MLS, home sellers may still offer to cover the buyer’s agent fees if they so choose.

Agents 530

Agents Seller concession VA loan Finance 530

Housing Wire

MAY 3, 2023

30-year fixed mortgage rates declined slightly last week, the first rate drop in three weeks, but it wasn’t enough to boost mortgage demand. Mortgage applications fell last week by 1.2% Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis. the previous week.

Mortgages 388

Mortgages Fixed-rate mortgage Banks Lending 388

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 268

VA loan FHA loan Mortgages Lending 268

Housing Wire

JUNE 12, 2023

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes.

Loans 416

Loans Mortgages Lending Marketing 416

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. for similar violations.

VA loan 394

VA loan Loans Lending Mortgages 394

Housing Wire

MARCH 3, 2022

Here’s how to proactively maintain fair lending. As economic factors continue to affect borrowers and the risk of delinquency rises, mortgage servicers need to be proactive in helping borrowers navigate their situation and loss mitigation options. Presented by: ACES. Meanwhile, as of Jan.

VA loan 345

VA loan Pre-approval Principal Loans 345

HomeLight

NOVEMBER 6, 2023

Skyrocketing mortgage interest rates can make homeownership seem like an elusive dream. For some home shoppers, there’s a potential solution: assumable mortgages. Assuming a mortgage allows you to step into the shoes of the seller and take over their loan, often at a lower interest rate.

FHA loan 101

FHA loan VA loan Mortgages Marketing 101

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

Loans 96

Loans Purchase and sale agreement VA loan Mortgages 96

Housing Wire

MARCH 31, 2021

Mortgage applications decreased for the fourth straight week – this time down 2.2%, according to the latest report from the Mortgage Bankers Association. Higher mortgage rates continue to shut down refinance activity, as the pool of borrowers who can benefit from a refinance further shrinks.”. Presented by: Angel Oak.

Fixed-rate mortgage 431

Fixed-rate mortgage Mortgages Loans Lending 431

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. The Mortgage Bankers Association supports the legislation. Jones also expressed concern with future increases to VA home loan funding fees.

VA loan 397

VA loan Loans Lending Finance 397

Housing Wire

SEPTEMBER 23, 2020

And while regulators and lending institutions generally share a common understanding of fair lending pitfalls and what might constitute HMDA violations, fair servicing compliance is still a moving target. Outstanding FHA and VA loans make up about 20% of the market. Consumers and fair servicing problems.

Loans 353

Loans VA loan Lending Technology 353

Housing Wire

MARCH 30, 2023

One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. 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. housing market.

VA loan 514

VA loan Loans Banks Mortgages 514

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. Low-down and government-backed mortgages. 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. The bottom line?

VA loan 379

VA loan FHA loan Loans Banks 379

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Mortgage Options During Chapter 13 Bankruptcy. Most lenders will want people to wait two years after Chapter 13 Bankruptcy discharge before they will approve you for a mortgage.

Bankruptcy 120

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

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. .”

Loans 259

Loans VA loan Lending Mortgages 259

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

APRIL 4, 2022

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. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

FHA loan 368

FHA loan Debt-to-income ratio Pre-approval VA loan 368

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 116

VA loan Sales Finance Loans 116

Realty Biz

JANUARY 3, 2023

Anybody who’s thinking about buying a home might be interested in knowing the average mortgage rate. As of January 2023 , the average mortgage rate sits right around 6.59%. With mortgage interest rates rocketing upwards, many potential home-buyers are looking for advice on what to do. . -

Mortgages 97

Mortgages VA loan Loans FHA loan 97

Realty Biz

FEBRUARY 7, 2023

We will discuss how to search for a lending institution you will love. Some people will search for mortgage lenders near me if they want their bank to be nearby. Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want.

Pre-approval 75

Pre-approval Mortgages Pre-qualification VA loan 75

Housing Wire

JULY 12, 2023

In other words, nearly nine out of every 10 mortgages originated is a purchase loan. Rate lock activity fell 1% month over month in May, with conforming loans gaining share mainly at the expense of non-conforming loan products. The benchmark 30-year mortgage finished the month 6 basis points (bps) higher at 6.78%.

Marketing 332

Marketing Loans Lending Mortgages 332