Housing Wire

OCTOBER 31, 2024

According to data released Thursday by the Mortgage Bankers Association (MBA), the median payment for purchase loan applicants declined by 0.8% The average mortgage payment declined in spite of an increase in the median loan size for purchase applicants, which went from $320,100 in August to $328,000 in September.

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Housing Wire

DECEMBER 20, 2024

House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. A representative at FHA did not immediately respond to HousingWire s request for comment.

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Housing Wire

NOVEMBER 26, 2024

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

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FHA loan Loans Finance Lending 370

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.

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FHA loan Loans Mortgages Finance 448

Housing Wire

DECEMBER 17, 2024

“The FHA share of applications, at 28%, continues to show that first-time homebuyers account for a significant share of new home demand. Conventional loans accounted for 61.6% of applications, Federal Housing Administration (FHA) loans for 28% and U.S. Department of Veterans Affairs (VA) loans for 9.9%

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Housing Wire

MARCH 24, 2025

“A loan-to-value ratio that is too high, either because of a limited down payment or an appraisal of the home that resets the value used to calculate this ratio, can also be a factor,” she said. The type of mortgage also plays a role, with jumbo and nonconventional loans facing higher rejection rates.

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Housing Wire

FEBRUARY 27, 2025

Meanwhile, the median loan application amount grew from $319,000 in December to $324,800 in January. Higher payments across loan types Borrowers across different mortgage programs also saw their payments rise. Higher payments across loan types Borrowers across different mortgage programs also saw their payments rise.

Mortgages 402

Mortgages FHA loan Loans As-is 402

Housing Wire

FEBRUARY 13, 2025

Loan locks for refinances rose more than 20% year over year while purchase lock counts saw a 6% decrease, according to Optimal Blue ‘s January 2025 Market Advantage mortgage data report released Thursday. of all locked loans in January. The average loan amount there was $576,385. It was followed by Dallas (3.4%

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Housing Wire

DECEMBER 2, 2020

Given massive year-over-year gains in home prices , the Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760. LOs are only human — Tech is necessary to keep up with max loan volumes.

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Housing Wire

JANUARY 22, 2025

Federal Housing Administration (FHA) loan borrowers must maintain escrow accounts for the entire loan cycle, regardless of equity. After that, 70% had higher homeowners’ insurance and 57% had higher premiums. Escrow accounts are required for conventional borrowers with 20% or less equity in their homes.

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Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. 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.

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Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. 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.

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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.

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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.

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Housing Wire

MARCH 5, 2025

Kan added that the FHA rate dipped to 6.42% and refinance activity saw its fastest pace since October 2024. The move in government refinances was driven by a 75% increase in VA loans, which have been prone to large changes in recent months, he shared. Mortgage applications increased 20.4% of total applications from 38.9%

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Housing Wire

JANUARY 15, 2025

Department of Agriculture (USDA) loans decreased. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances and 30-year fixed-rate mortgages backed by the FHA both saw increases for jumbo loans it was an increase to 7.05% from 6.99%, and for FHA loans the interest rate reached 6.76% from 6.65%.

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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. If 2024 was a rollercoaster, 2025 is shaping up to be a championship gameand every buyer , seller and homeowner has a shot at winning big. Wrapping up 2024 Lets get one thing straight: 2024 kept us on our toes.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

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. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

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Housing Wire

JANUARY 9, 2025

The column is likely referencing the Home Equity Conversion Mortgage ( HECM ) program insured by the Federal Housing Administration (FHA). 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.

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FHA loan Mortgages Equity Closing costs 370

Housing Wire

FEBRUARY 13, 2025

The overall defect rate for mortgages declined across all loan types between the second and third quarters of 2024. Critical defects were found on 1.51% of all loans in the third quarter, a 17% decline from the defect rate of 1.81% in the second quarter. Income and employment was still the leading category for defects at 25%.

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Debt-to-income ratio Mortgages FHA loan Loans 300

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. 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.

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Loan Officer FHA loan Loans Mortgages 418

Housing Wire

JULY 21, 2023

Before the 2008 housing crisis, home sellers would offer DPA to FHA borrowers and raise the sales price to cover the cost, creating exaggerated losses for the FHA program. As an alternative solution, Tozer floated the idea of making the FHA program a zero-down-payment program – a proposal first made by the George W.

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FHA loan Loans Mortgages Sales 370

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

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Loans FHA loan Principal Marketing 418

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Loans 488

Loans FHA loan Equity Mortgages 488

Housing Wire

FEBRUARY 6, 2025

Multistate mortgage lender Click n’ Close on Thursday announced that it’s adding a 30-year, fixed-rate conventional loan option to its SmartBuy Shared Appreciation Mortgage (SAM) program. SAM loans grant the lender a share of the home’s future appreciation in exchange for a lower interest rate.

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Housing Wire

MAY 24, 2024

Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans. How student loans impact your ability to buy a home Adding a mortgage on top of monthly student loan payments can create a significant financial strain.

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Housing Wire

JANUARY 5, 2021

For example, some loans require as little as 3% down. . What type of loan: Conventional loan. Conventional loans aren’t insured by the government but are backed by private lenders. Conventional loans aren’t insured by the government but are backed by private lenders. What type of loan: FHA loan.

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Housing Wire

SEPTEMBER 9, 2024

the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. The streamline refi program enables FHA borrowers to refinance their mortgage by reducing underwriting requirements for income verifications and appraisals. Better Home & Finance Holding Co. ,

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FHA loan Loans Closing costs Finance 448

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

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.

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FHA loan Debt-to-income ratio Inspection Finance 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. Meanwhile, military VA loans represented 6.3% and 20.3%, respectively.

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FHA loan VA loan Mortgages Loans 468

Housing Wire

SEPTEMBER 19, 2024

But the increase itself was relatively modest and the share of loans with defects now stands at 1.58%, according to a report released Thursday by ACES Quality Management. But legal, regulatory and compliance defects saw a sharp increase, more than doubling their share as they were found in 16.22% of all loans.

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Housing Wire

MARCH 27, 2025

Mortgage affordability remained flat in February as the national median monthly payment for purchase loan applicants remained unchanged at $2,205. By product type, the median mortgage payment for conventional loan applicants was $2,226, up from $2,225 in January and up from $2,194 in February 2024. on an annual basis.

Mortgages 207

Mortgages FHA loan Loans As-is 207

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.

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FHA loan Loans Lending Finance 493

Housing Wire

JUNE 5, 2023

Providing presentations on whether to opt for a conventional loan, Federal Housing Administration (FHA) loan, Fannie Mae ’s HomeReady or Freddie Mac ’s HomePossible loans while winning over contracts in a multiple bid environment are key to creating client stickiness, Lotsoff added.

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Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

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Housing Wire

MARCH 11, 2025

After hitting a multiyear low in December, conforming loan volume continued to edge higher for a second straight month, reaching 52% of total lock volume. The Federal Housing Administration (FHA) share remained just above 20%, while the Department of Veterans Affairs (VA) share grew slightly to 11.5%. from the prior month.

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Loans Equity Mortgages As-is 320