Housing Wire

NOVEMBER 1, 2022

In the first phase of the program, customers can use points to get discounts on their closing costs when purchase a home through the subsidiary Rocket Mortgage. To start, customers will receive a 7,500-point welcome bonus on their first reward activity – or $75 in savings on closing costs. billion in the first quarter.

Closing costs 430

Closing costs Closing Loans Mortgages 430

Housing Wire

JANUARY 27, 2025

Consumers who chose to take out a cash-out refinance largely used the loans proceeds for paying down existing debts, with notable impacts on credit card and auto loan balances as well as credit utilization rates. One source of debt that was not heavily impacted, according to the data, were student loan balances.

Loans 369

Loans Closing costs Mortgages Closing 369

Housing Wire

AUGUST 1, 2024

The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers. Department of Agriculture (USDA).

Closing costs 441

Closing costs Closing Title Loans 441

Housing Wire

JUNE 12, 2024

An analysis released Wednesday by Columbia, Missouri -based lender Veterans United Home Loans revealed that the home loan program through the U.S. The VA loan program — which was established in 1944 through the GI Bill — will celebrate its 80th anniversary on June 22. Department of Veterans Affairs (VA) has contributed $3.9

VA loan 449

VA loan Loans As-is Mortgages 449

Housing Wire

JUNE 10, 2025

Amid expectations that interest rate declines may reignite refinance activity , Optimal Blue on Monday launched a new tool that automatically analyzes loan officer portfolios each month to identify recapture opportunities. The tool is designed to ensure loan officers are ready when refinance volume picks up. year over year.

Loan Officer 397

Loan Officer FHA loan Loans Closing costs 397

Housing Wire

MARCH 27, 2025

FinLocker details that the initiative will eliminate verification costs at all stages of the mortgage journey, from prequalification and underwriting to final reverification before closing. ” FinLocker indicated that future initiatives will target other high-cost areas like title expenses. ”

Mortgages 376

Mortgages Loan Officer Technology Loans 376

Housing Wire

APRIL 22, 2025

Lenders can use down payment assistance (DPA) to lower a homebuyers loan-to-value (LTV) ratio by an average of 6%. For lenders, that means more ways to qualify buyers and close loans in a tough market. The average benefit is $18,000.

Closing costs 322

Closing costs Loans Closing Finance 322

Housing Wire

AUGUST 22, 2024

A California bill that would allow home loans for illegal immigrants faces strong opposition from state Republicans. AB 1840 would prevent the California Dream For All Shared Appreciation Loan program from denying individuals based on their immigration status. Gavin Newsom to become law.

Loans 527

Loans Closing costs Finance Closing 527

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs.

Closing costs 403

Closing costs Closing Agents Mortgages 403

Housing Wire

DECEMBER 9, 2024

Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. Many sellers are offering to cover 2-3% of closing costs. The key takeaway?

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

AUGUST 12, 2024

The share of piggybacked Federal Housing Administration (FHA) home purchase loans rose by more than seven percentage points from June 2022 to June 2024, going from 10.8% for conventional purchase loans backed by Fannie Mae and Freddie Mac. for conventional purchase loans backed by Fannie Mae and Freddie Mac.

Loans 460

Loans FHA loan Equity Closing costs 460

Housing Wire

MARCH 25, 2021

Do I need to pay off my student loans before buying my first home? What it really comes down to is whether or not you feel comfortable paying a mortgage (and all the other fun expenses that come with having a home), while also paying off student loans. For example, a conventional loan lets you put as little as 3% down.

Debt-to-income ratio 506

Debt-to-income ratio Loans FHA loan Finance 506

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. A VA loan is a mortgage partially backed by the U.S.

Loans 451

Loans VA loan Mortgages Lending 451

Housing Wire

MARCH 11, 2025

Tomo touts its use of artificial intelligence in streamlining loan underwriting and closing processes. It claims to save the typical homebuyer up to $4,000 in closing costs and offers interest rates that are 50 to 100 basis points lower than the industry average, according to a press release.

Closing 360

Closing Mortgages Investor Loan Officer 360

HomeLight

OCTOBER 28, 2024

One of the most important things that you should keep in mind is that there are several costs you’ll need to pay to finalize your sale. Nationwide, closing costs for sellers can range from 6% and 10% of a property’s sale price. Receive your offer in 24 hours and close in as few as 10 days.

Closing costs 105

Closing costs Closing Title Sales 105

HomeLight

OCTOBER 31, 2024

In this post, we explore the question: Are closing costs tax deductible? What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

Closing costs 111

Closing costs Closing Title search Title 111

Housing Wire

JULY 11, 2025

The waiver pilot , relaunched by Fannie Mae in March 2024, allows approved mortgage lenders to use an automated title review process to assess title risk during loan manufacturing and prior to loan purchase. The pilot is limited to certain refinance loans with loan-to-value ratios of less than 80% in certain geographic areas.

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Housing Wire

OCTOBER 31, 2024

Wall Street expects new cost increases in 2025 and 2026. Though mortgage lenders don’t want to charge borrowers upfront, many have had to because the pull-through rate on loans makes it economically infeasible otherwise, especially for refis. What will it cost? “What choice do we have but to pay more?

Industrial 451

Industrial Mortgages Closing costs Lending 451

Housing Wire

JANUARY 9, 2025

Loan proceeds are dependent on the amount of equity in the home and current interest rates, the column noted, and there are multiple disbursement options available, the column noted. After you pass away or move out of the home, you or your estate will have to repay the loan. This will reduce how much your heirs receive.

FHA loan 370

FHA loan Mortgages Equity Closing costs 370

Housing Wire

NOVEMBER 6, 2024

Wehmann added that, after the change, “FICO’s share will remain only approximately two-tenths of one percent” of the total average closing costs of $6,000. per score for mortgage originations. ” “At $4.95 “Importantly, after our upcoming royalty change, all amounts above $4.95 ” “At $4.95

Closing costs 403

Closing costs Mortgages Industrial Lending 403

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 430

Loans Development Closing costs Finance 430

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

Construction 403

Construction Loans Loan Officer New Construction 403

Housing Wire

JULY 11, 2025

My job as a loan officer is to help people prep and plan to buy a house. The Federal Reserve’s Q1 report on Household Debt and Credit shows that, on average, each American household has over $8980 in credit card debt, $12,480 in auto loans, $12,404 in student loans, and $4110 in retail cards and personal loans.

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Housing Wire

APRIL 3, 2024

mortgage lender United Wholesale Mortgage (UWM) is the target of a class-action-seeking lawsuit alleging it orchestrated a scheme with mortgage brokers to apply excess fees and costs to borrowers. UWM turns this process on its head by corrupting brokers and tricking homebuyers into paying billions of dollars more in costs and fees.”

Loans 468

Loans Loan Officer Mortgages Closing costs 468

Housing Wire

FEBRUARY 6, 2025

Younger service members struggle during the homebuying process, particularly around paying closing costs. The housing benefits pushed more than 28 million home loans for Veterans over the last 80 years. Some of these include lower mortgage rates , insurance costs, and down payment requirements. He retired from the U.S.

Industrial 326

Industrial Lending Closing costs Loans 326

Housing Wire

NOVEMBER 9, 2023

Fannie Mae and Freddie Mac jointly announced this week that they have entered a new critical edit phase for their Uniform Closing Dataset (UCD) as of Nov. 6, informing lenders that they must address quality issues for “fatal data points” before delivering loans to either of the government-sponsored enterprises.

Loans 417

Loans Closing costs Mortgages Closing 417

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. With interest rates now at 14-year highs, the cost of homeownership is becoming an issue for most prospective home buyers.

Loans 403

Loans Mortgages Land Finance 403

Housing Wire

MARCH 8, 2023

Chicago-headquartered lender Guaranteed Rate has expanded its program to approve loans within 24 hours nationwide. billion in closed loan volume, according to the lender. billion in closed loan volume, according to the lender. The program first rolled out to a select group of customers in 2022, resulting in $1.1

Loans 388

Loans Closing Closing costs Mortgages 388

Housing Wire

DECEMBER 16, 2024

of the loan amount) at settlement to use toward their closing costs. So far it has generated over $1 million in savings for our consumers, and that is only on closed transactions since August. The biggest lesson this year was really just a reinforcement of something we kind of already knew.

Brokerage 370

Brokerage Agents Technology Industrial 370

Housing Wire

AUGUST 5, 2020

For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. The company also said: “Since every borrower’s situation is different, interested loan officers can price out this specific product in UWM’s EASE system or call their AE [account executive] for more information.”.

Mortgages 527

Mortgages Loan Officer Lending Loans 527

Housing Wire

FEBRUARY 3, 2023

The Lock ‘n’ Roll program is eligible for conventional and government fixed-rate loans, with the lock period being a minimum of 60 days, according to its website. With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex.

Loans 370

Loans Loan Officer Closing costs Mortgages 370

Housing Wire

FEBRUARY 5, 2024

Freddie Mac will offer a $2,500 credit for very low-income purchase borrowers to help with down payment and closing costs amid elevated interest rates and low housing supply. The credit can be used for down payments, closing costs, escrow and mortgage insurance premiums.

Mortgages 525

Mortgages Closing costs Finance Loans 525

Housing Wire

MARCH 21, 2024

In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as income verification is required for both during loan underwriting and just before closing.

Closing costs 468

Closing costs Loans Title Finance 468

Housing Wire

DECEMBER 12, 2024

I want to push a button and have everything done for me and see my results without having to go to the county website, or go hop on Zillow and check this, or go check closing costs, or go to the title and escrow company to find out what the fees are for something. This interview has been edited for length and clarify.

Loan Officer 370

Loan Officer Loans Technology Mortgages 370

Housing Wire

NOVEMBER 7, 2023

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% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 468

VA loan Agents Seller concession FHA loan 468

Housing Wire

SEPTEMBER 9, 2024

The product is available for qualified borrowers with an existing FHA loan who are looking to lower their monthly mortgage payment, reduce their interest rate, shorten their loan term or get out of an adjustable-rate mortgage (ARM), the company explained. Better does not check income on FHA streamline refi loans.

FHA loan 430

FHA loan Loans Closing costs Finance 430