Loans in forbearance gain after 6 weeks of decline

Housing Wire

According to the report, the portfolio-held and private labeled security loans were largely responsible for the recent increase, with forbearance share gaining from 7.1% to 7.3% – a total of 28,000 new loans in forbearance.

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Caliber Home Loans plans $2B-plus IPO

Housing Wire

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. The post Caliber Home Loans plans $2B-plus IPO appeared first on HousingWire.

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Making every loan a green loan

Housing Wire

In the decade since Fannie Mae launched the industry’s first multifamily green initiative, the GSEs and FHA have provided over $150 billion in multifamily green loans, conserving energy, water, and reducing carbon emissions in properties across the country.

Loans 165

UWM to knock 50 bps off VA IRRRL loans

Housing Wire

United Wholesale Mortgage (UWM) announced on Wednesday that it would offer a 50 bps discount on all VA interest rate reduction refinance loans (IRRRL) through Veterans Day on Nov. With interest rates at historic lows, UWM has been offering a variety of loans under 3% to borrowers.

Loans 173

Renovation loans get pandemic boost as homeowners want home offices

Housing Wire

For over 40 years with Section 203(k) of the National Housing Act, FHA has been protecting lenders with fully-insured mortgage loans even as renovations are underway. The post Renovation loans get pandemic boost as homeowners want home offices appeared first on HousingWire.

IMBs nearly triple their net gain per loan in second quarter

Housing Wire

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $4,548 on each loan they originated in the second quarter of 2020 – nearly tripling the average first-quarter gain of $1,600 per loan, according to a report by the Mortgage Bankers Association.

Loans 201

Here’s how Quicken Loans and the Rock FOC create impactful change

Housing Wire

Quicken Loans and the Rock Family of Companies are built on 19 carefully thought out philosophies, or as they call them, ISMs, that compile all of their values into active ways they plan to inspire change. Team member volunteer event collaborating with muralist Philip Simpson.

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How home construction loans work

The Morgtage Report

If you want to build your own home, you'll likely need a construction loan. Learn how construction loans work and why they're different from mortgages. Buying a home Mortgage Products Mortgage Strategy

Quicken Loans’ Austin Niemiec on Rocket Pro TPO rebrand impact

Housing Wire

On the heels of going public, Rocket Companies’ broker channel, Quicken Loans Mortgage Services (QLMS), made waves throughout the industry when it announced it would be rebranding to Rocket Pro TPO in an effort to closer align itself with the brand that has become ever-present in the lending space. Dan Gilbert started Quicken Loans as a small brokerage in the Detroit area 35 years ago and grew it into the nation’s largest mortgage lender.

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Conventional loan rates and requirements for 2020

The Morgtage Report

Should you use a conventional loan? Conventional Loans Barbara Ballinger conventional mortgage Housing Mortgage mortgage rates Real EstateLearn about conventional mortgage rates and requirements and find out if you qualify for one.

Loans 87

Veterans United Home Loans to host virtual career showcase Sept. 2

Housing Wire

Mortgage Research Center , which does business as Veterans United Home Loans , is holding a virtual career showcase Wednesday, September 2, for all interested job applicants. The post Veterans United Home Loans to host virtual career showcase Sept.

Loans 186

Mortgage industry provides commentary on CFPB’s proposed changes to QM loan definition

Housing Wire

In June, the bureau released two proposals regarding the QM Patch, which allows loans sold to Fannie Mae or Freddie Mac to exceed the 43% debt-to-income ratio the Bureau had established in its Ability to Repay/Qualified Mortgage rule.

Loans 200

Quicken Loans Mortgage Review for 2020

The Morgtage Report

Review of Quicken Loans showing how the company compares to other top lenders. Mortgage Lender Reviews Mortgage Products quicken loans customer service quicken loans mortgage lender review quicken loans mortgage rates quicken loans mortgages should i get a mortgage from quicken loansIncludes mortgage rates, service, complaints, operations and products offered.

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LOs are only human — Tech is necessary to keep up with max loan volumes

Housing Wire

One of the drivers for a pivot to profit is that loans are expensive. According to the Mortgage Bankers Association, it costs an average of $7,535 to produce a loan. It also helps position LOs to better educate and advise customers on the right loan products for their needs.

Loans 188

What’s a loan servicer to do about compliance?

Housing Wire

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. Outstanding FHA and VA loans make up about 20% of the market.

Loans 179

VA loan rates are the lowest of any mortgage program

The Morgtage Report

VA loan rates are typically the lowest on the market, even below FHA or conventional mortgage rates. Find out if you qualify for a low-rate VA loan. Mortgage Products Mortgage Rates VA Loans VA Refinance

Refi fee is delayed, but what are lenders doing about loans that were already locked?

Housing Wire

But what about lenders whose refi loans were locked with closing dates after Sept. However, with several thousand loans in the pipe, it does require staff to go in and manually touch every single loan to reverse the fee. unless the loan has already been purchased.

Loans 270

In a super-low rate environment, how can lenders get purchase loans done without putting refis on the back burner?

Housing Wire

Lenders are faced with strong external pressures on both kinds of loans, but with purchase loans, there is a homeowner waiting to move into a house, which exerts its own kind of stress.

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Report: VA Loans Surge Amidst Pandemic

RISMedia

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.

Wolters Kluwer begins submissions of PPP loan forgiveness applications

Housing Wire

Following the launch of the Small Business Administration’s Loan Forgiveness Portal on Monday, Wolters Kluwer announced it is now submitting completed borrower loan forgiveness application data directly to the SBA via its TSoftPlus Paycheck Protection Program Forgiveness Module.

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Quicken Loans parent Rocket Companies reportedly slashing IPO from as high as $3.3 billion to $2 billion or less

Housing Wire

Rocket Companies , parent company of Quicken Loans , is expected to price its initial public offering (IPO) at a significantly lower price than originally anticipated, according to multiple reports. The post Quicken Loans parent Rocket Companies reportedly slashing IPO from as high as $3.3

Loans 223

As mortgage rates drop, loan applications rise 2.9%

Inman

The market composite index, which measures mortgage loan application volume, increased by 2.9 percent on a seasonally adjusted basis.

Loans 81

FHA loans: FHA rates and requirements for 2020

The Morgtage Report

FHA loans are easier to qualify for than many other mortgages. FHA Home Buying FHA loan FHA Mortgage MIP Mortgage mortgage rates U.S. FHA rates are low, but come with mortgage insurance. See current FHA rates and requirements.

VA loan activity swells during coronavirus pandemic

Inman

Banking & Lending Industry News Markets & Economy Mortgage News Brief ATTOM Data Solutions baby boomers baltimore Chris Birk gen x honolulu loans los angeles millennials mortgage refinancing san diego U.S.

FHFA Further Extends COVID-Related Loan Flexibilities

RIS Media

The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend several loan origination flexibilities until Nov. Extended flexibilities include: – Alternative appraisals on purchase and rate term refinance loans.

Loans 57

FHA 203k loan – Buy and fix up a home with one loan in 2020

The Morgtage Report

The FHA 203k loan is a "home construction" loan available in all 50 states. The major benefits, plus some things to watch out for. FHA Home Buying Mortgage Strategy FHA Housing Mortgage mortgage rates Real Estate

Loans 69

Buoyed by Low Interest Rates, Conventional Loan Market Share Rises

Eye on Housing

Census Bureau reveals that conventional loans financed the most new home sales in a quarter since 2007. The share of sales backed by conventional loans in the third quarter was 71.8%–the largest share since Q4 2018, but well below the housing boom peak of 91.7% (Q4.

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New PPP Forgiveness Form for Small Loans

RIS Media

8, the Small Business Administration (SBA) and the Treasury Department announced the release of a new, further simplified forgiveness application for PPP borrowers with loans of $50,000 or less. The post New PPP Forgiveness Form for Small Loans appeared first on RISMedia.

Loans 66

Short Sale Mortgage Loans: What Borrowers Need To Know

HomeLight

Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. Can you get a mortgage loan for a short sale?

How Does a Construction Loan Work

Maximum Exposure Real Estate

Construction Loans – What You Need to Know Are you considering getting a home construction loan? Do you want to know how a construction loan works? When building your own house, chances are you will need to get a construction loan. The post How Does a Construction Loan Work appeared first on Massachusetts Real Estate Exposure. If you have ever gotten a mortgage before, you have some familiarity with how […].

Share of Mortgage Loans in Forbearance Declines to 6.87 Percent

RIS Media

The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 6 basis points from 6.93 The share of Fannie Mae and Freddie Mac loans in forbearance dropped for the 16th week in a row to 4.46

Loans 85

Q2 2020 Senior Loan Officer Opinion Survey

Eye on Housing

The Federal Reserve’s latest release of the Senior Loan Officer Opinion Survey shows banks’ lending practices and households and businesses’ demand for various classes of loans as of the second quarter of 2020.

What Can Be Done With Student Loans to Help Homebuyers?

Realty Biz

A study by American Student Assistance found that 55% of student loan holders said their debt is causing them to put off homeownership. Those student loans have no more effect on your ability to qualify for a mortgage than any other type of debt that you might have.

Loans 87

What’s a Conventional Loan? Here’s What Buyers Need To Know

HomeLight

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? Most homebuyers get a conventional loan. Conforming loans.

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16 Questions to ask a mortgage lender before you sign for a home loan

The Morgtage Report

Here are 16 questions to ask a mortgage lender that will ensure you get the right loan type, lowest mortgage rate, and best overall deal on your home loan.

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