Housing Wire

OCTOBER 20, 2022

on Wednesday announced that it has released an Attorney Opinion Letter (AOL) product for VA direct and VA-backed home loans as a compliant alternative to title insurance. Voxtur previously announced this year that it had produced an AOL for Fannie Mae loans. Real estate tech firm Voxtur Analytics Corp.

VA loan 418

VA loan Loans Title Land 418

Housing Wire

MARCH 5, 2025

The move in government refinances was driven by a 75% increase in VA loans, which have been prone to large changes in recent months. On-the-ground observations Loan officers say they’re seeing an increase in government loan demand. Certain geographic areas have higher shares of government loans.

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Loan Officer Loans VA loan FHA loan 283

Housing Wire

FEBRUARY 11, 2022

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB). . The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated.

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VA loan Loans Lending Finance 397

Keeping Current Matters

NOVEMBER 11, 2021

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes. 2020 Data on VA Home Loans.

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VA loan Loans Mortgages As-is 307

Housing Wire

NOVEMBER 11, 2024

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. Better is now offering the well-known Interest Rate Reduction Refinance Loan (IRRRL) through the U.S.

Closing costs 363

Closing costs Loans Closing VA loan 363

Housing Wire

DECEMBER 17, 2024

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% The average loan size for new homes decreased to $402,873, down from $409,942 in October. Mortgage applications for new-home purchases increased 7.2%

FHA loan 396

FHA loan VA loan Mortgages Loans 396

Housing Wire

FEBRUARY 13, 2025

Jumbo mortgage rates were up 2 bps, VA loan rates were up 4 bps and FHA loan rates remained unchanged. Optimal Blue reported that after hitting a multiyear low in December, the conforming loan share edged up slightly to 51% of total production but remained near record lows.

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VA loan FHA loan Mortgages Loans 291

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. Who is eligible?

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

MAY 21, 2024

VA policy states that while a veteran is allowed to use a buyer broker to purchase a home using their VA loan benefit, they “may not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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VA loan Agents Loans MLS 523

Housing Wire

NOVEMBER 8, 2024

Sears cited the trade group’s efforts in advocating for changes in VA loan procedures. Department of Veterans Affairs can still use their loan benefit when working with a buyer’s agent regardless of how their agent is being compensated. So, as I look to 2025 and where we want to go, it is to stick to the basics.

VA loan 368

VA loan Commercial Loans Staging 368

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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Debt-to-income ratio Agents VA loan MLS 321

Housing Wire

JUNE 11, 2024

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. ” The VA also clarified that veterans can still ask sellers to cover these fees. ” The circular is effective Aug.

VA loan 523

VA loan Loans Brokerage MLS 523

Housing Wire

NOVEMBER 16, 2020

They allow for lower credit scores than most other loans. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment.

VA loan 501

VA loan FHA loan Mortgages Loans 501

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. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

VA loan 418

VA loan Agents Pre-approval Debt-to-income ratio 418

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 September, government-insured FHA loans represented a little over 15% of U.S.

FHA loan 468

FHA loan VA loan Mortgages Loans 468

Housing Wire

JANUARY 3, 2023

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. That said, modernization is a good thing as well and should never be feared.

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VA loan Loans HR Due diligence 83

Housing Wire

SEPTEMBER 1, 2020

According to the CFPB, Service 1st Mortgage and Hypotec advertised specific credit terms, such as interest rates, APRs, and hypothetical payment amounts that they wer not prepared to offer, or that they could only offer for an introductory period but advertised as if they were permanent loan terms.

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VA loan Mortgages Loans Lending 500

Housing Wire

OCTOBER 25, 2024

Department of Veterans Affairs (VA) would be disadvantaged. Previously, under VA policy, although a veteran was allowed to use a buyer broker to purchase a home using their VA loan benefit, they could “not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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VA loan Purchase and sale agreement Loans Agents 448

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%

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VA loan Agents Seller concession FHA loan 482

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. in October, also a series high, while the average among FHA and VA loans hit 45.5% for VA loans.

Equity 468

Equity VA loan FHA loan Mortgages 468

Housing Wire

JULY 26, 2024

Giving the company the “staff the agency needs to fulfill its responsibilities” will allow it to “focus on its core mission, including marketing Ginnie Mae securities to global investors and conducting oversight of the 300-plus companies that issue Ginnie Mae securities backed by FHA, RHS, and VA loans,” the letter explained.

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VA loan Loans Mortgages Banks 476

Housing Wire

NOVEMBER 7, 2023

Smith will engage with both the military community as well as real estate professionals to further education on VA mortgage products. Unfortunately, too many veterans, as well as too many real estate professionals, don’t have the understanding they need to successfully utilize VA loans.

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Lending VA loan Loans Mortgages 414

Housing Wire

JANUARY 5, 2021

For example, some loans require as little as 3% down. . Conventional loans aren’t insured by the government but are backed by private lenders. These loans are some of the most common because prospective homebuyers can put down as little as 3%. FHA loans are backed by the Federal Housing Administration. 0% down payments.

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FHA loan VA loan Loans Mortgages 546

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday. The refinance share of mortgage activity decreased to 31.1%

VA loan 476

VA loan Mortgages Fixed-rate mortgage Loans 476

Housing Wire

MARCH 27, 2024

Department of Veteran Affairs (VA) to revise its policies that ban veterans from paying broker commissions, an issue that is gaining attention following the NAR’s landmark $418 million settlement. The currency policy will put VA buyers on the sidelines, especially in a market with already tight inventory, Sears pointed out.

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VA loan Loans Principal Mortgages 476

Housing Wire

AUGUST 7, 2024

Refinance applications picked up as mortgage rates fell last week, but purchase loan activity had only a small gain, according to data released Wednesday by the Mortgage Bankers Association (MBA). The average rate for jumbo loans (balances above $766,550) fell 30 bps to 6.77%. “As Department of Veterans Affairs (VA) loans were 14.3%

VA loan 476

VA loan FHA loan Loans Mortgages 476

Housing Wire

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct. This represents a 3.2%

Loans 468

Loans VA loan Finance Mortgages 468

Housing Wire

SEPTEMBER 23, 2024

Department of Veterans Affairs (VA) space. Before that, Bergjans spent eight years at Caliber Home Loans , including stints as national director of military and veteran lending and as head of retail business development. loanDepot executive vice president John Bianchi said the hiring reinforces the company’s commitment to VA lending.

VA loan 448

VA loan Lending Loans Loan Officer 448

Housing Wire

MARCH 22, 2023

The less competitive market has also resulted in more buyers using FHA and VA loans. In January, 16% of mortgaged home sales used an FHA loan , up from 13.3% a year ago, while the share of mortgaged sales using VA loans rose to 7.5% Detroit saw the highest share of FHA loans at 29.5% a year prior.

VA loan 435

VA loan FHA loan Loans Mortgages 435

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

AUGUST 1, 2024

That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. Veterans United Home Loans is a full-service lender based in Columbia, Missouri. But affordability and mortgage rates are the primary reasons why they’re holding off.

VA loan 508

VA loan Loans Finance Mortgages 508

Housing Wire

JUNE 17, 2024

Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. Wells Fargo, which was among the top 25 U.S.

Closing costs 482

Closing costs Closing VA loan Banks 482

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 new applications.

VA loan 456

VA loan Mortgages FHA loan Loans 456

Housing Wire

SEPTEMBER 17, 2024

These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates. According to its results, veteran homebuyers who work with a mortgage broker saved an average of $13,600 over the life of their loan compared to working with retail lenders.

Lending 435

Lending VA loan Loans Mortgages 435

Housing Wire

DECEMBER 15, 2021

decline in applications for government loans. Would-be homebuyers are finding it hard to compete with FHA and VA loans in a purchase market defined by low inventory. The strength in conventional purchase activity continues to support higher loan balances, which moved back over $400,000. Refinances represented 63.3%

VA loan 435

VA loan FHA loan Fixed-rate mortgage Loans 435

Housing Wire

FEBRUARY 6, 2024

The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. It reaffirmed that servicers must process assumptions and can be barred from the VA loan program if they don’t comply.

Mortgages 480

Mortgages VA loan Loans Closing 480

Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. Considering other loans require anywhere from 3% to 10% down at minimum, this can mean serious savings from the start. Streamline refinances (if you have an FHA or VA loan). 15-year mortgages.

Mortgages 459

Mortgages VA loan Loans Loan Officer 459