Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The agency is the first to provide either a 2-1 rate buydown or a 1-0 rate buydown on a DPA program.

FHA loan 448

FHA loan Loans Mortgages Finance 448

Housing Wire

FEBRUARY 13, 2025

January lock data shows two important ways constrained affordability is impacting the housing finance market, Brennan OConnell , director of data solutions at Optimal Blue, said in a statement. Jumbo mortgage rates were up 2 bps, VA loan rates were up 4 bps and FHA loan rates remained unchanged.

VA loan 335

VA loan FHA loan Mortgages Loans 335

Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. This claim is misguided, oversimplifying a more complicated reality.

Finance 448

Finance Agents FHA loan Closing costs 448

Housing Wire

SEPTEMBER 5, 2024

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. of the U.S. mortgage market in 2023, up from 14.3% in 2022, according to HUD.

FHA loan 476

FHA loan Debt-to-income ratio Inspection Finance 476

Housing Wire

SEPTEMBER 9, 2024

Better Home & Finance Holding Co. , the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday.

FHA loan 448

FHA loan Loans Closing costs Finance 448

Housing Wire

OCTOBER 4, 2023

But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So It was a similar story for Steve Miller, branch manager and senior loan officer at Embrace Home Loans.

FHA loan 468

FHA loan Loans Loan Officer Mortgages 468

Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans.

FHA loan 493

FHA loan Loans Lending Finance 493

Housing Wire

DECEMBER 18, 2020

Here’s what you need to know about financing that purchase. Conventional loans. A conventional loan is a smart way to finance an income-earning property. The differences between FHA, VA, and USDA mortgages. A nice perk with conventional loans is that you can now refinance them using Airbnb rent income to qualify.

FHA loan 488

FHA loan Hard money loan Loans Loan Officer 488

Housing Wire

NOVEMBER 9, 2023

For this reason, many programs now allow funds to be used for buydowns and other popular financing strategies that take the edge off of monthly mortgage payments,” Rob Chrane, founder and CEO of DPR, said in a statement. Buydowns have become a preferred financing strategy for borrowers as mortgage rates have surged.

FHA loan 482

FHA loan VA loan Finance Loans 482

Housing Wire

MARCH 25, 2021

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. Mortgage insurance is required on all FHA loans, but the cost varies. The result was approximately $1.3 Mortgage Insurers.

Industrial 544

Industrial Mortgages FHA loan Finance 544

Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

FHA loan 493

FHA loan VA loan Loans Loan Officer 493

Housing Wire

OCTOBER 16, 2024

Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. “Eliminating the need to manually underwrite the vast majority of appraisals goes well beyond a technology improvement and truly allows lenders to close loans faster at a lower cost.”

FHA loan 435

FHA loan Mortgages Loans Technology 435

Housing Wire

JUNE 11, 2024

In practice, the direct endorsement authority allows lenders to underwrite single-family mortgages and submit them to FHA for insurance endorsement. Open Mortgage’s termination is based on the “poor performance” of these loans, HUD stated. Inside Mortgage Finance first reported on the topic.

FHA loan 476

FHA loan Mortgages Loan Officer Loans 476

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 511

Debt-to-income ratio Loans FHA loan Finance 511

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% The calculations were based on the number of purchase loans in CoreLogic public records. This is according to a CoreLogic report published on Monday.

Loans 476

Loans FHA loan Equity Closing costs 476

Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In cities with a notable military presence, VA loans have high usage.

FHA loan 468

FHA loan VA loan Mortgages Loans 468

Housing Wire

SEPTEMBER 14, 2023

FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation. Department of Housing and Urban Development ( HUD ) called FHA Connection, a database used to insure and generate FHA case numbers associated with the borrower’s home loan application.

Loan Officer 418

Loan Officer FHA loan Loans Mortgages 418

Housing Wire

MARCH 25, 2021

You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier. Yes, we’re talking about a bridge loan. Not every lender packages a bridge loan in the same way.

Loans 542

Loans VA loan FHA loan Finance 542

Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

FHA loan 370

FHA loan Loan Officer Loans Mortgages 370

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

Loans 448

Loans FHA loan Principal Finance 448

Housing Wire

JANUARY 19, 2024

Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A.

Mortgages 482

Mortgages FHA loan Loan Officer Loans 482

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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 loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. Wrapping up the year, HousingWire analyzed some of the key factors that defined 2023 for loan originators and how they stayed competitive.

Loans 459

Loans FHA loan Mortgages Loan Officer 459

Housing Wire

DECEMBER 3, 2020

on FHA loans through its Conquest Program. Those rates will be available on FHA purchase mortgages, FHA rate and term refinances, and FHA streamline refinances, but not all borrowers will qualify for the products.

Mortgages 514

Mortgages FHA loan Loans Finance 514

Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

FHA loan 476

FHA loan Loans Closing costs Loan Officer 476

Housing Wire

MAY 5, 2021

The Federal Housing Finance Agency didn’t have a set date for its new refi option targeted to low-income borrowers when it announced the program last week. Additionally, the FHFA will waive its adverse market refinance fee for borrowers with loan balances at or below $300,000.

FHA loan 514

FHA loan Loans Finance Mortgages 514

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

FHA loan 459

FHA loan Finance Loans Agents 459

Housing Wire

JANUARY 10, 2024

The increase in purchase and refinance applications for both conventional and government loans is promising to start the year but was likely due to some catch-up in activity after the holiday season and year-end rate declines,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. for the week ending Jan. from 14.5%

Mortgages 511

Mortgages VA loan FHA loan Loans 511

Housing Wire

JANUARY 13, 2021

A week ago, it said it will offer 61 basis points on conventional loans through March 8. It’s also offering ultra-low rate mortgages on FHA loans. The initiative, called “Appraisal Promise,” drops just a week before the wholesale lender’s Wall Street debut on Jan.

FHA loan 470

FHA loan Inspection Loans Mortgages 470

Housing Wire

DECEMBER 15, 2021

Sellers today are prioritizing cash offers and prospective buyers with conventional mortgage approval, particularly given that the Federal Housing Finance Agency just approved higher loan borrowing limits. The strength in conventional purchase activity continues to support higher loan balances, which moved back over $400,000.

VA loan 435

VA loan FHA loan Fixed-rate mortgage Loans 435

Housing Wire

DECEMBER 3, 2023

In 2024, roughly 75% of originations expected to come from purchase loans. Despite compressed volumes, cash-out refinance loans fueled what is left of the refinance market accounting for 92% of the third quarter activity. for FHA loans and 44.5% for VA loans. Borrowers withdrew a record $104,000 on average.

Equity 468

Equity VA loan FHA loan Mortgages 468

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

FHA loan 370

FHA loan Renovation Equity Loans 370

Housing Wire

OCTOBER 9, 2024

“Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2% of new applications. of applications.

VA loan 458

VA loan Mortgages FHA loan Loans 458

Housing Wire

MAY 10, 2023

” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. Did you hear that sound? That’s the entire mortgage industry shouting, “hip, hip hooray!”

FHA loan 539

FHA loan Loans Principal Mortgages 539

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. Better’s rate for VA loans was 6.375% as of Tuesday afternoon, the company said. Conventional loans account for 95% of Better’s portfolio, with the remaining 5% tied to other products such as jumbo loans. Better Home & Finance Holding Co. ,

VA loan 435

VA loan Loans Loan Officer FHA loan 435

Housing Wire

SEPTEMBER 27, 2022

In correspondent lending, Wells Fargo funds the loan arranged by outsiders and the bank is concerned that it would have to be responsible for “reputational damage” when it finances large amounts of loans originated by other firms. billion in volume , according to Inside Mortgage Finance. As the U.S.

FHA loan 397

FHA loan Lending Banks Finance 397

Housing Wire

NOVEMBER 8, 2023

3, total home loan applications increased 2.5% Applications for both purchase and refinance loans were up over the week but remained at low levels,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “”The The share of Federal Housing Administration (FHA) loan activity remained unchanged at 14.7%.

VA loan 468

VA loan Mortgages FHA loan Loans 468