Housing Wire

JANUARY 3, 2024

Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% for the week ending Dec.

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Housing Wire

NOVEMBER 8, 2023

Mortgage applications picked up for the first time in four weeks as mortgage rates dropped by 25 basis points, to 7.61%. 3, total home loan applications increased 2.5% compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association (MBA). For the week ending Nov.

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Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. Concerns over the existing VA policies have been echoed among mortgage professionals.

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Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

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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%

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Housing Wire

SEPTEMBER 15, 2023

Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!) FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans. These loans have lower down payment requirements and more forgiving credit requirements. . -30%

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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.

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Housing Wire

MARCH 22, 2023

Redfin attributed the drop in down payment amount and percentage to the slower housing market , lower home prices, and higher housing costs due to rising mortgage rates. One silver lining of high mortgage rates and economic turmoil is that they’ve slowed competition,” Sheharyar Bokhari, Redfin’s senior economist, said in a statement.

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Housing Wire

SEPTEMBER 30, 2022

Many mortgage professionals are turning to the platform as a way to connect with prospective borrowers and educate them on mortgage, as well as market themselves. We spoke to UMortgage Branch Manager Arielle Best, known as the VA Loan Lady on TikTok, about the platform and how best to utilize it as a mortgage loan originator.

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Realty Biz

MARCH 28, 2023

A VA appraisal is similar in some ways to the appraisal with a conventional mortgage, but they do more to protect buyers. We look at a home's requirements when applying for a VA loan. There are VA loan inspection requirements for appraisals that buyers, sellers, and real estate agents should know.

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Housing Wire

MARCH 26, 2024

Of these actions, 2.682 million have been permanent loan modifications and 3.519 million actions have been other forms of assistance that allowed troubled borrowers to stay in their homes. The number of completed short-sale and deeds-in-lieu transactions in Q4 2023 totaled 134, a decrease of 12% compared to the previous quarter.

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Housing Wire

JUNE 1, 2022

Mortgage apps dropped 2.3% for the week ending May 27, decreasing to the lowest level since December 2018, as measured by the Mortgage Bankers Association ’s (MBA) Market Composite Index. Refinance share of the mortgage activity declined to 31.5% million home sales this year, compared to 6.13 from the previous week.

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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.

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Housing Wire

JUNE 8, 2022

Mortgage application volume for the week ending June 3 dropped 6.5%, sliding to the lowest level in 22 years, driven by weakness in purchase and refinance applications. Purchase mortgage rates, after hitting a 13-year high of 5.27% in May, fell for three consecutive weeks, according to the Freddie Mac PMMS. of total applications.

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Housing Wire

FEBRUARY 28, 2024

The data examined below represents multiple listing service data and mortgage market analytics for San Diego County, as well as the state of California and the country as a whole from 2019 to 2023. Mortgage data paints a similar picture of the increasing competitiveness of the San Diego market. from 2019 to 2023, almost double the 26.4%

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Housing Wire

JANUARY 17, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory. . Justin Messer, CEO at Prosperity Home Mortgage.

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Eye on Housing

JANUARY 26, 2024

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 In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% Read More ›

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Housing Wire

JUNE 28, 2023

Purchase mortgage applications increased for the third consecutive week, reaching the highest level of activity since early May, in spite of the 30-year fixed rate increasing slightly to 6.75%. For the week that ended June 23, mortgage applications climbed 3% from the prior week , according to data from the Mortgage Bankers Association.

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HomeLight

APRIL 30, 2024

When you’re considering buying a home, one option might be to assume the seller’s mortgage instead of obtaining a new loan. This post provides expert insights into the tax implications of assuming a mortgage. What does it mean to assume a mortgage? Are all mortgage loans assumable?

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HomeLight

DECEMBER 8, 2023

In today’s real estate market, with high mortgage interest rates and hesitant buyers, you might be pondering, “Is my mortgage assumable?” ” as a strategy to accelerate your home sale. Read on to unlock the possibilities that assumable mortgages could hold for your home sale.

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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 The financial terms of the transaction were not disclosed.

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Housing Wire

JUNE 26, 2023

“The number of refinances decreased amid rising mortgage rates from 111,251 in the fourth quarter of 2022 to 78,445 in the first quarter of 2023.” Mortgage rates rose in March: the average interest rate on a 30-year fixed-rate mortgage increased to 6.54% from a February level of 6.26%.”

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Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

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Housing Wire

MARCH 28, 2024

“Now we are hiring seasoned purchase loan officers with experience in nurturing customers in a higher rate environment,” Garg said. “We We are pleased to see early conversion improvements from this new operating model from the seasoned sales talent we are hiring, as well as better alignment between our production output and costs.

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HomeLight

DECEMBER 12, 2023

In today’s high-interest mortgage landscape, the idea of assuming a mortgage from a family member can be an appealing path to home ownership. This guide breaks down what it means to step into a family member’s mortgage shoes and purchase their home. Get Started What does it mean to assume a mortgage?

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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.

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HomeLight

DECEMBER 12, 2023

Whether planned or unexpected, life changes may have you pondering, “Can you transfer a mortgage to another person?” ” It’s a relevant question, especially in times when mortgage interest rates and home prices are high. Get Started What does it mean to transfer a mortgage? Is my mortgage transferable?

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Housing Wire

MAY 26, 2021

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. of total mortgage applications from 63.3% The FHA share of total mortgage applications decreased to 9.1%

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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?

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Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8% in the same period. .”

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Housing Wire

SEPTEMBER 16, 2021

When it comes to housing and mortgage markets this fall, most attention is being focused on the expiration of eviction and foreclosure moratoria and the pending completion of forbearance terms for many homeowners. Thus, even if loans are in forbearance, if the borrower does not make a payment, the loan is counted as delinquent.

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HomeLight

DECEMBER 5, 2023

If you’re balancing your options, you might be asking, “Are all mortgages assumable?” ” An assumable mortgage could be a smart solution, offering the possibility to take over a home loan with more favorable terms than currently available in the market. Get Started What is an assumable mortgage?

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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.

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Housing Wire

DECEMBER 30, 2020

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries. Sales of new homes spiked 18.6% Sales of new homes spiked 18.6%

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Housing Wire

MARCH 3, 2022

VA’s servicers handbook outlines numerous home retention options available to borrowers including repayment plans, special forbearances, and loan modifications. There are also alternatives to foreclosure such as compromise sales and deeds in lieu of foreclosure. Here’s how to proactively maintain fair lending.

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Housing Wire

NOVEMBER 17, 2021

Refinance mortgage loan applications dipped 31% year-to-year on the week ending Nov. 12, according to a survey published by the Mortgage Bankers Association (MBA) on Wednesday. Overall, the Market Composite Index, a measure of the mortgage loan application volume, decreased 2.8% Meanwhile, FHA loans went from 8.8%

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Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier.

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