Housing Wire

MAY 24, 2024

Most Americans still view homeownership as a key to building wealth, but for many, that piece of the American dream is on hold or out of reach thanks to the heavy burden of student debt. In fact, according to a recent study, millennials currently struggle with so much debt that 25% worry they won’t qualify for a mortgage.

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Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The company explained that the product operates as a ”hybrid between debt and equity.” home equity by the end of this year.

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Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept. appeared first on HousingWire.

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Housing Wire

JANUARY 20, 2023

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. “Furthermore, FHFA included new fees on borrowers with higher debt-to-income scores. But there are some losers, too.

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Housing Wire

MAY 8, 2023

The program offers $3,000 or more in closing cost assistance if borrowers in select metropolitan areas meet a minimum 3% downpayment, complete a one-on-one homeownership counseling, and earn less than or equal to 140% of the area median income (AMI). The credit goes up to $2,500 if a borrower makes 50% or less of AMI.

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Housing Wire

JANUARY 25, 2021

Surprisingly, a borrower who lowers their debt to income ratio doesn’t move the needle much on rates. That said, recent changes implemented by the Consumer Finance Protection Bureau have removed DTI requirements from qualified mortgages. Analyzing over 8.5 So, what do lenders have to do to be competitive?

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Housing Wire

JULY 29, 2022

Net revenues increased by $200 million in the first six months of the year compared to last year, thanks to higher base guarantee fee income, an increase in the size of Fannie Mae’s guaranty book of business and higher income from portfolios. Fannie Mae’s net worth stood at $56.4 billion at the end of the second quarter, up from $51.8

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Housing Wire

MARCH 3, 2024

The market in which these folks purchased their first home was one of record house prices, ballooning down payments , rising rates and elevated debt-to-income ratios (DTIs). is more than 4 percentage points higher than for repeat buyers in recent months. Mortgage rates have averaged close to the 7% mark as of Feb.

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Housing Wire

FEBRUARY 5, 2024

Under such a scenario, more than half would be homeowners who financed in 2023, with less than 10% coming from 2022-vintage loans. of the median household income, the average payment is down from a 38-year high of more than 38% in October. Mortgage rates held at 6.71% as of Jan. million to 3.8 million to 3.8

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Housing Wire

OCTOBER 30, 2024

But public filings analyzed by Inside Mortgage Finance revealed that seller repurchases rose to $430 million in the second quarter of 2024 — a 29% increase from the previous quarter. Freddie Mac has seen a nearly 55% reduction in repurchase requests from its peak in the first quarter of 2023. points,” Mittal said.

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Housing Wire

SEPTEMBER 17, 2024

former Federal Housing Financing Agency (FHFA) director Mark Calabria made the argument that a larger credit box has caused the government-sponsored enterprises (GSEs) to take on far more risk than they should be. At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C., Calabria disagreed.

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Housing Wire

JUNE 4, 2021

Your score will determine your financing options for buying a house. The good news is, you can raise your credit score by paying down debt and making your payments on time. To determine what kind of house you can afford, you need to analyze your debt-to-income ratio (DTI). A bad credit score is anything under 579.

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Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

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Housing Wire

AUGUST 8, 2024

Incomes, wealth, life events, mortgage rates all play a role in determining housing demand, while on the supply side we have land costs, government regulations in terms of zoning rules, geographic constraints to building and builder financing costs,” Divounguy added. As these business practice changes begin Aug.

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Housing Wire

MARCH 15, 2023

Following a chorus of complaints from the mortgage industry, the Federal Housing Finance Agency (FHFA) on Wednesday announced that it would delay the implementation of a new and controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios.

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Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. The mortgage debt-to-income ratio is near a four-decade low and homeowner equity is at a historic high.

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Housing Wire

AUGUST 22, 2024

Let’s address these concerns: First, Steve’s argument presupposes buyers, especially those at the lower end of the income spectrum, can easily finance agent commissions through their mortgage. The reality is that financing commissions are unfeasible. This assumption is fundamentally flawed.

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Housing Wire

DECEMBER 12, 2023

Research from the AEI Housing Center found that these buydowns are not only an effective tool to qualify income-constrained buyers and alleviate excess inventory, but they have also allowed builders to forgo home price cuts. The beginnings of mortgage rate buydowns Homebuilders had a less-than-ideal beginning as 2022 dawned. 2022 to Dec.

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Housing Wire

APRIL 26, 2023

Federal Housing Finance Agency (FHFA) Director Sandra Thompson issued a statement Tuesday to correct the misinformation that’s spread about the agency’s loan-level pricing adjustments to conventional mortgages. No change is more controversial than the LLPA tied to a borrower’s debt-to-income ratio.

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Housing Wire

JANUARY 14, 2022

The Federal Housing Finance Agency recently announced new upfront fees for second-home loans which, much like the abrupt and now-suspended caps on such loans last year, are expected to give the private-label securities market a boost. If you’re willing to learn and you’re coachable and trainable, that works too.”.

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Housing Wire

JUNE 29, 2022

Many millennial and Gen Z future homebuyers are concerned about the effects of personal finance issues like having insufficient savings, increasing debt and low credit when applying for a loan. As market volume dips and pent-up demand builds, 61% of millennials and Gen Zs who intend to buy a home plan to apply for a mortgage this year.

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Housing Wire

MARCH 24, 2021

The Mortgage Bankers Association on Tuesday sent a letter to Treasury Secretary Janet Yellen and Federal Housing Finance Agency Director Mark Calabria expressing concern over several amendments to the Senior Preferred Stock Purchase Agreements announced in January , including changes to investment properties.

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Housing Wire

AUGUST 11, 2020

“By providing an exception to the general QM loan definition’s strict 43% debt-to-income ratio threshold and rigid income and debt verification criteria, the GSE patch facilitates access to affordable mortgage credit for credit-worthy borrowers who fall outside the requirements of the general QM definition.”.

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Housing Wire

MAY 25, 2022

Partnering with a team that understands how to approach home loans for borrowers with complex finances can make the difference between another year of profit growth and the unfortunate possibility of loss in business, making it one of the most crucial decisions for any lender. Bracing for the challenges of non-QM.

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Housing Wire

JUNE 9, 2023

Three large and mismanaged depositories failed in the first quarter of 2023, yet progressive partisans like Chopra, Treasury Secretary Janet Yellen, and Federal Housing Finance Agency head Sandra Thompson ignore the public record and continue to fret about nonexistent risk of contagion from mortgage servicers.” Why does this all matter?

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Housing Wire

JANUARY 4, 2022

Still, even in those transactions, the underlying collateral appears solid, with the average credit scores of the borrowers above 760 and the average debt-to-income ratio ranging from 64.4% That was the start for the nonbank lender, which dominates the nation’s wholesale mortgage lending sector with an estimated 33.5%

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Housing Wire

JANUARY 21, 2022

said that the company’s borrowers are largely self-employed individuals who can’t get access to housing-finance programs through mainstream channels, such as banks, credit unions or traditional mortgage companies. “If building, even after fulfilling program requirements.” Slump added. That’s been an obstacle,” he said.

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Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. First, he has his clients lender call the listing agent. Somebody has a problem once and then that story just spread.

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Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. But the same story got pushback from the MBA and the ABA , as well as the CHLA , arguing that the data was selective and produced a biased conclusion.

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Housing Wire

AUGUST 23, 2023

Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. is expected to begin trading on the Nasdaq Stock Exchange on Thursday under the ticker symbol “BETR.” We match the consumer to the product with a partner capable of delivering the best product to them.”

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Housing Wire

AUGUST 26, 2024

Additionally, Mr. Cooper ranks as the fourth-largest holder of MSRs, considering both whole loan portfolios and servicing rights, with $676 billion at the end of June—an increase of 70% over two years, according to Inside Mortgage Finance. That will offset some of the losses. As of June 30, Mr. Cooper had become the largest U.S.

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Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. Ginnie Mae is wholly owned by the federal government.

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Lighter Side of Real Estate

SEPTEMBER 8, 2021

Changing your debt-to-income ratio. Debt-to-income ratio is one of the most important factors lenders use to determine how much house you can afford—and, as such, what mortgage amount you’re approved for. When you apply for a car loan, it’ll show up as a hard inquiry on your credit report.

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HomeLight

JUNE 30, 2024

Hard money loans offer a flexible financing option outside of traditional banks, perfect for those who need quick cash, have limited savings, or face credit issues. Unlike traditional banks that prioritize your credit score and income, hard money lenders in Orange County focus on the value of the property used as collateral.

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Realty Biz

APRIL 5, 2022

Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. The individual pays a fraction of their debts to creditors under the supervision of the bankruptcy trustee for the term of the Chapter 13 Bankruptcy. Trustee approval is required.

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Housing Wire

JULY 25, 2023

.” And Gregory’s story is becoming commonplace in flood-prone areas of the United States, especially in Florida. According to Sandy Williams, an eXp Realty agent in Sarasota, homeowners’ insurance costs have doubled for many in her metro area ( flood insurance costs have also risen dramatically). “I

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Lighter Side of Real Estate

SEPTEMBER 23, 2021

Increasing the balances on your credit cards can impact your debt-to-income ratio, which plays a major role in determining whether you’re approved for a mortgage—and, if so, how much. In order to qualify as a solid candidate for a mortgage, lenders want to see a stable job history and reliable income. Switching jobs.

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