Remove As-is Remove Debt-to-income ratio Remove Principal
article thumbnail

MBA seeks clarity on GSE investment property policies

Housing Wire

The MBA is also concerned about GSE compliance with the revised PSPA provision regarding Freddie and Fannie’s acquisition of loans that have certain characteristics: a combined loan-to-value ratio at origination above 90%, a borrower debt-to-income ratio above 45%, or a credit score below 680.

article thumbnail

When rates skyrocketed, mortgage servicing reset the board. The next battle is about to begin

Housing Wire

trillion unpaid principal balance (UPB). Conversely, other companies seized the opportunity to expand their portfolios, securing the future right to get the inside track on refinancings when rates eventually drop. In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios.

Mortgages 459
Insiders

Sign Up for our Newsletter

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

article thumbnail

UWM is bullish on the resurgent private-label market

Housing Wire

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 KBRA seems to think so as well. KBRA seems to think so as well. billion. “Non-conforming

Marketing 397
article thumbnail

Opinion: Regulators should focus on banks, not IMBs

Housing Wire

I referenced in my last opinion piece in Housing Wire that the Urban Institute publishes a “ monthly chart book ” that is packed full of relevant data. This recent publication paints a clear picture as to why any Realtor or homebuilder should always include a nonbank lender in their referrals. In the FHA program alone, 46.3%

Banks 370
article thumbnail

Agency loan-repurchase strategy sparks pushback

Housing Wire

He added that loan defects often leading to repurchase requests include, among others, borrower income-related issues (i.e., debt-to-income ratios); appraisal issues; missing documentation; employment verification; and undisclosed liabilities — “people taking out a car loan the day before they close on their mortgage.”

Loans 397
article thumbnail

Today’s Mortgage Rates April 5, 2025: Rates Plunge Amid Tariffs Led Recession Fears

Marco Santarelli

Initially, a larger portion of this payment, approximately $1,625 , goes to interest, while only about $271 reduces the principal. Mortgage rates today stand around 6.40% for a 30-year fixed mortgage, indicating a slight decline compared to previous months. Understanding Mortgage Types and Their Rates 1.

article thumbnail

4 Reasons You May Have Been Denied Refinance

RIS Media

Those who could not get refinanced were declined for many of the same reasons, from a high debt-to-income ratio to poor or no credit history. High Debt-to-Income Ratio . Your debt-to-income ratio is the percentage of your monthly gross income used to pay off your debts.