Loan officers made insane money in Q4 2020

Housing Wire

Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years.

FHA raises loan limit by nearly $25,000 for 2021

Housing Wire

Given massive year-over-year gains in home prices , the Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760. In 125 counties, FHA’s loan limits will remain unchanged.

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Mortgages in forbearance fall across all loan types

Housing Wire

With more borrowers exiting forbearance in the prior week, the share of loans in forbearance declined across all loan types. Approximately 23.95% of total loans in forbearance are in the initial stage, while 74.49% are in a forbearance extension. The U.S.

Loans 282

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.

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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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All loan types continued to experience drop in forbearance

Housing Wire

forbearance rate measuring the share of mortgages with suspended payments fell 16 basis points to 5.67% last week, with four of the five loan types dropping by double-digit basis points, according to the Mortgage Bankers Association. The U.S.

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Share of mortgage loans in forbearance ticks up for second week

Housing Wire

While the rate of forbearance increased across all loans and servicer types, for the first time in 25 weeks, the share of Fannie Mae and Freddie Mac loans in forbearance increased to 3.36% — a 1-basis-point gain. The U.S.

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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.

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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.

Student loans hinder saving for a down payment, NAR finds

Housing Wire

According to the National Association of Realtors 2020 Profile of Home Buyers and Sellers, 47% of potential homebuyers said student loan debt was the biggest obstacle in saving for a downpayment. The post Student loans hinder saving for a down payment, NAR finds appeared first on HousingWire.

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First American Mortgage Solutions’ loan modification process addresses workflow volume spike

Housing Wire

Secondly, the coronavirus pandemic has created a critical need to provide timely and compassionate borrower relief in the form of forbearance and loan modifications. Today’s servicers are working in a challenging environment due to several compounding factors.

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UWM offering 61 bps on conventional loans through March 8

Housing Wire

To generate buzz for its upcoming independent public offering , United Wholesale Mortgage (UWM) is offering a special deal on conventional mortgage loans to select borrowers for the next two months.

Loans 247

2020 ends with 3.4 million loans in delinquency

Housing Wire

With nearly 2 million extra overdue loans in the pipe, that’s approximately 3.4 million loans in total at December’s end. million the month prior, but remained a looming reminder of the the challenges facing the market in 2021, Black Knight said.

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How one lender is tackling demand for jumbo loans in 2021

Housing Wire

We wanted to introduce a program that provides borrowers with the larger loan amounts they need to purchase or refinance a high-value property. The Jumbo Prime program is designed for qualified borrowers who may have larger loan amounts than allowed under conventional loan terms.

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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.

Loans 176

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

Housing Wire

As record-low interest rates drive a refinance boom and spikes in mortgage applications, many businesses are adjusting to the present market. “We’re One of the drivers for a pivot to profit is that loans are expensive. Uncover marketing efficiencies.

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How lenders will benefit from Proctor Financial’s acquisition of Loan Protector

Housing Wire

As a result of Loan Protector’s recent acquisition by Proctor Financia l, Proctor Loan Protector is now the largest managing general agency (MGA) in the market, meaning it is neither owned by nor confined to a single insurance carrier. Proctor Loan Protector is able to shop rates among its carrier partners to find the best rates for clients and their borrowers. Sponsored Content LaunchPad proctor loan protector

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Clear Capital’s loan servicing solution helps servicers evaluate and mitigate risk

Housing Wire

Even before the coronavirus pandemic, some servicers struggled to streamline the loan processes — especially when dealing with properties with higher valuation fees, operational costs, and longer loan processing times. Mortgage servicers are staying busy.

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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.

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

Housing Wire

But as companies continue to compete on low rates, lenders are trying to balance maintaining a strong purchase presence with meeting client expectations in the refi market. 1 priority as the market continues its ebb and flow. “If

Loans 247

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

Housing Wire

The Federal Housing Finance Agency announced on Tuesday it is delaying the implementation of its adverse market refinance fee to Dec. But what about lenders whose refi loans were locked with closing dates after Sept. unless the loan has already been purchased.

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Black Knight’s industry-leading servicing solutions help servicers streamline forbearance and loan modifications

Housing Wire

Black Knight provides industry-leading servicing solutions, which includes the best-in-class servicing platform, MSP, as well as several innovative capabilities that support all size portfolios and every aspect of servicing, from loan boarding to default.

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FHFA will continue to buy loans in forbearance through Dec. 31

Housing Wire

The Federal Housing Finance Agency announced on Thursday that Fannie Mae and Freddie Mac will continue to buy qualified loans in forbearance , extending the temporary policy until Dec. The post FHFA will continue to buy loans in forbearance through Dec.

Loans 247

With Biden win, here’s what to expect on mortgage forbearance and student loan forgiveness in 2021

Housing Wire

Assuming these results stick, I offer here some informed speculation regarding the effects these changes in government leadership will have on three critical issues in housing: mortgage forbearance, student loan debt, and GSE conservatorship. The housing market has been a critical sector during this recovery from the COVID-19 lows, which, by the way, we won’t get back to — sorry those of you who believe in a W-shaped housing recovery.

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Purchase market will highlight closing process problems

Housing Wire

Much of that is, from the Realtor’s or consumer’s perspective, the “dead time” between the excitement of getting approved for the loan and the additional excitement of getting the keys. With a purchase market, of course, comes higher production costs and weaker margins. Let’s admit it.

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.

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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.

What’s behind Arizona’s housing market demand?

Housing Wire

This HousingWire Daily interview transcription features an interview with Caliber Home Loans ’ Brandon Bialkowski and Vanessa Accra. In this episode, the loan consultants discuss Arizona’s hot housing market , which is experiencing a significant uptick in homebuyer migration.

DataTrace launches market insight platform for title companies

Housing Wire

DataTrace Information Services announced on Thursday its launch of MarketView – a platform that will provide title companies with accurate market insights including existing market share.

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VA loan rates are the lowest of any mortgage program

The Mortgage 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

Average IMB made over $5,500 in profit per loan in Q3

Housing Wire

Soaring production revenues – led by strong secondary marketing gains – drove these results and more than offset an increase in production expenses.”. On a per-loan basis, production revenues increased to $12,987 per loan in the third quarter, up from $11,686 per loan in the second quarter.

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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.

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Title partners need solutions for fluctuating loan volume

Housing Wire

In addition to the struggles of maintaining clear lines of communication, consumer safety became a major concern in real estate technology as the risk wire and title fraud also began to climb as loan volumes increased.

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VA loan activity swells during coronavirus pandemic

Inman

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