Housing Wire

MARCH 14, 2024

The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housing Administration (FHA), and it has made the process of requesting a refund slow and complicated. million in unclaimed refunds.

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Housing Wire

MAY 14, 2024

This is significant, because as noted in CHLA’s annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

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Housing Wire

APRIL 9, 2024

This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

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Housing Wire

AUGUST 11, 2023

Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments,” Marina Walsh, the MBA’s vice president of industry analysis, said in a statement. As the economy slows and [the] labor market cools, homeowners with FHA loans are likely to feel the distress first,” said Walsh.

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Housing Wire

NOVEMBER 15, 2023

However, “mortgage rates at current levels are still challenging for many prospective homebuyers and current homeowners,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. The share of Federal Housing Administration (FHA) loan activity decreased to 14.4% of total applications, down from 9.8%

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Housing Wire

FEBRUARY 7, 2023

The duality of the Fed has resulted in a mortgage rate lockdown: homeowners with low mortgage rates aren’t motivated to sell when home prices are high and mortgage rates remain in the 6% range. Gano added that FHA loans seem “a little more workable” than the VA and USDA options.

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Housing Wire

FEBRUARY 27, 2024

Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. This role offers me a platform to be more than just a loan officer,” Gatling said in a statement. were FHA loans.

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Housing Wire

JUNE 5, 2023

“We should see more purchase activity from existing homeowners once rates and/or home prices come down a bit. Until then the factors we see that will drive existing homeowners to purchase are life events and household formation changes,” Brok noted.

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Housing Wire

MARCH 25, 2021

Members of the mortgage insurance industry worked closely with federal policymakers, industry groups, and consumer organizations to support homeowners experiencing financial hardship due to the COVID-19 pandemic, according to Lindsey Johnson, the president of industry trade group U.S. The result was approximately $1.3 Mortgage Insurers.

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Housing Wire

APRIL 10, 2023

The Federal Housing Administration (FHA) loan share increased to more than 20% of the pipeline in March, up from 18% at the start of the year and 12% from a year ago. “A A cooling market lacking the multiple bids and all-cash offers of the recent past has made sellers more receptive to FHA offers. “A

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HomeLight

DECEMBER 12, 2023

“There are certain mortgages that are not assumable [transferable],” says Eric Broesamle , a top Michigan real estate agent who has been helping homeowners for more than 20 years. Here’s a list of common mortgage types and their potential for transfer: FHA loans: These are typically assumable.

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Housing Wire

APRIL 11, 2023

“You can go out and get a bigger house now because you have higher borrower power at 3% down because your loan term has increased to 40 years.” The 40-year loan modification can assist borrowers in avoiding foreclosure by spreading the outstanding mortgage balance out over a longer period. “It’s not for new loans (…).

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Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage.

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Calculated Risk Real Estate

MAY 16, 2024

The percentage of loans on which foreclosure actions were started in the first quarter remained unchanged at 0.14 “Overall mortgage delinquencies increased slightly in the first quarter of 2024, but not across all three of the major loan types.

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Housing Wire

JUNE 26, 2023

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions during the first quarter of 2023, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September 2008. The serious delinquency rate also decreased to 0.6%

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Housing Wire

SEPTEMBER 22, 2023

For existing homeowners, that’s good news because it means equity accumulation. Kim: I notice a lot of independent mortgage banks roll out down payment assistance (DPA) programs for conventional loans. DPA programs were predominantly for FHA loans. Kim: DPA programs offered with FHA loans come with higher rates.

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Housing Wire

FEBRUARY 16, 2023

Delinquency rates — which includes loans that are at least one payment past due but does not include loans in the foreclosure process — rose across all loan types and stages of delinquency. The FHA loan delinquency rate rose the most by a whopping 209 bps to 10.61% in the fourth quarter from the previous quarter.

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Housing Wire

OCTOBER 14, 2022

“Lowering the MIP – with a focus on FHA’s recurring ‘annual’ premium – increases homebuyers’ purchasing power by reducing monthly payments and directly putting money into their pockets every month, giving them the opportunity to become homeowners and build generational wealth,” the MBA said in its letter to the NEC. “As

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Housing Wire

DECEMBER 15, 2021

Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

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Housing Wire

MAY 4, 2021

The greater number of borrowers exiting forbearance right now also requires more labor from the servicers’ side given the Mortgage Bankers Association estimates 27% of exits since June of 2020 resulted in loan deferrals and partial claims. However, non–federally backed borrowers don’t all have the same policies.

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Housing Wire

AUGUST 19, 2021

Marina Walsh, vice president of industry analysis at the MBA, noted that the recovery is being driven by several factors “including improved employment and other economic conditions, the availability of home retention workout options after forbearance, and a strong housing market that is bringing additional alternatives to distressed homeowners.”.

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Housing Wire

SEPTEMBER 21, 2020

Homeowners are benefitting from lower monthly payments, while lenders are struggling to manage high volumes – all during a time when their employees continue to work remotely, and many temporary origination flexibilities remain in place. Smaller balance loans, in many cases likely FHA loans, are impacted by the factors noted above.

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Realtor.com

JANUARY 12, 2021

Cavan Images/Getty Images Making the leap from being a renter to becoming a homeowner is a process that includes taking stock of your financial situation and determining whether you’re ready for such a massive responsibility. A lower down payment is also a benefit of FHA loans.

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Realtor.com

JULY 7, 2021

Getty Images One group of homeowners continues to be behind on their mortgage payments. Many homeowners with mortgages backed by the Federal Housing Administration, or FHA, are delinquent on their homes, according to a new analysis from the American Enterprise Institute, a conservative think-tank based in Washington, D.C.

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Housing Wire

MAY 5, 2022

“The decrease in delinquency rates was apparent across all loan types, and especially for FHA [ Federal Housing Administration ] loans,” said Marina Walsh, vice president of industry analysis at the MBA. About 525,000 homeowners were on forbearance plans as of March 31, 2022, according to the MBA.

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Housing Wire

APRIL 13, 2021

Since December 2019, millions of homeowners have been able to save hundreds of dollars a month in mortgage payments by refinancing to record-low mortgage rates, often in the 2% range. Thanks to the Fed’s intervention to lower the cost of borrowing, many homeowners shaved 125 basis points or more on their mortgages over the past year.

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Realtor.com

JULY 7, 2021

Getty Images One group of homeowners continues to be behind on their mortgage payments. Many homeowners with mortgages backed by the Federal Housing Administration, or FHA, are delinquent on their homes, according to a new analysis from the American Enterprise Institute, a conservative think-tank based in Washington, D.C.

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HomeLight

DECEMBER 8, 2023

Or, you might want to allow a family member to assume your mortgage so they can inherit a financial advantage through your low-interest-rate home loan. If you’re a homeowner gearing up to sell, the concept of an assumable mortgage could be a golden ticket in accelerating these and other objectives.

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Housing Wire

FEBRUARY 22, 2024

down payment for an FHA loan. Acosta added that data from the Urban Institute and other think tanks have predicted that, for the first time, the overwhelming majority of new homeowners over the next 20 years will come from Black and Brown communities, which already have lower homeownership rates.

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Realtor.com

SEPTEMBER 25, 2020

homeowners are behind on their mortgage payments and struggling to hang on to their abodes. First-time, minority, and lower-income homeowners are among those most at risk of losing their homes. of FHA loans were seriously delinquent. FHA loans cater to borrowers who often have lower credit scores and higher debt loads.

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Real Trends

NOVEMBER 11, 2022

Without knowledge of lesser-known financing choices, real estate professionals can miss the chance to turn their customers into homeowners, or sellers. . Alternative financing options are also key for homeowners who don’t want to sell. USDA loans.

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Realty Biz

FEBRUARY 28, 2023

HUD homes are foreclosed properties with an FHA-backed mortgage taken over by the US Department of Housing and Urban Development after a homeowner defaults on their loan payments. FHA Loan Eligibility FHA loans are a great option for purchasing a house without spending much money upfront.

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RIS Media

JULY 23, 2021

– Share of buyers using an FHA loan. – Share of homeowners who spend 30% or more of their monthly income on housing costs. Share of buyers using an FHA loan: 10.2%. Share of buyers using an FHA loan: 11.6%. Share of buyers using an FHA loan: 10.1%. Oklahoma City, Oklahoma.

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Point2Homes

JANUARY 14, 2021

Becoming a homeowner requires you to get to grips with a wide range of things you might not have ever considered before. Homeowners and mortgage insurance can be confusing at first and it can be difficult to know if you need them or not. What is Homeowners Insurance? Is Homeowners Insurance the Same as Home Warranty?

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Housing Wire

FEBRUARY 1, 2023

Michael Neal, principal research associate at the Urban Institute ’s Housing Finance Policy Center, said research shows that rate buydowns that are longer-term, or even permanent, coupled with other down payment assistance, can help homeowners build equity, and consequently wealth, faster.

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Point2Homes

JANUARY 25, 2021

This type of loan aims to make buying a home easier for families with low or medium incomes, as well as lower credit scores compared to those required by conventional lenders. In some regards, FHA loans are more lenient, and they even allow friends or family to provide you with the down payment as a gift. FHA Mortgage Pros.

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Lab Coat Agents

FEBRUARY 7, 2023

FHA mortgage: A mortgage insured by the Federal Housing Administration (FHA) is a good option for first-time homebuyers and other borrowers with limited resources. The minimum down payment for an FHA loan is 3.5%. VA loans typically offer favorable terms, including no down payment or monthly mortgage insurance premiums.

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