Remove Principal Remove Residential Remove VA loan
article thumbnail

NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan 421
article thumbnail

HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

These include wholesale revisions to the lender table for the best estimate of the total cost of the refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans, the notice said.

Mortgages 419
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The activities RESPA allows real estate agents to perform

Housing Wire

However, RESPA applies to a construction-to-permanent loan inside one bundle. Loan for vacant land. When a loan is offered to buy land that will not be used to build a covered residential framework, RESPA doesn’t have to look into the loan. Loans for large land parcels.

Agents 369
article thumbnail

RatePlug’s new platform combines home listings, live mortgage rates and preapprovals

Housing Wire

Afordal solves one of the biggest pain points in residential real estate; aligning what homebuyers want with what they can afford, said Brad Springer, co-president of RatePlug. They can also determine their eligibility for government financing programs such FHA and VA loans, or other low- or zero-down payment loans.

VA loan 252
article thumbnail

Amid record-high origination volumes, mortgage fraud risk is down – Here’s why

Housing Wire

Investment loan applications are showing a higher risk because real estate investors have a profit motivation for their activity,” said Bridget Berg, Principal, Fraud Solutions at CoreLogic. VA-based programs had the lowest-risk applications, CoreLogic found. This makes identity issues and straw buyer situations rare,” she said.

Mortgages 421
article thumbnail

Why CAR campaigned for California’s Proposition 19

Housing Wire

Proposition 19 eliminated the ability of homeowners to transfer primary residential properties to their children or grandchildren without the property’s tax assessment resetting to market value if the property is being used as a rental house or second home.

VA loan 402
article thumbnail

Could the assumable mortgage level the playing field?

Housing Wire

.” CMS said that in the case of an FHA loan being assumed at the company, CMS offers a simultaneous second lien to the qualifying buyer for an amount up to 80% of the determined property value. It cannot be used by the veteran to purchase another property until the assumed loan is paid in full.

FHA loan 384