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). Non-bank servicers did a better job, retaining a little over one in four refinancing borrowers, while bank lenders retained only one in 10.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

NOVEMBER 12, 2020

If you currently have a high utilization rate (total balance / credit limit * 100), then work on paying down your debts to lower it. You can also ask your credit card company or bank for a limit increase. Avoid new debt. If a mortgage loan is on your radar, then avoid applying for new credit cards, loans or other debts.

Debt-to-income ratio 508

Debt-to-income ratio Banks Loans Mortgages 508

Housing Wire

DECEMBER 13, 2024

Despite rising rates that fueled this increase, debt-to-income ratios did not see a significant change in the same period. Additionally, non-depository institutions like independent mortgage banks (IMBs) secured a higher share of application and origination activity in 2023 when compared to banks and credit unions.

Debt-to-income ratio 370

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 370

Housing Wire

MAY 21, 2021

The Urban Institute regularly cites statistics showing IMBs do a better job than banks of serving underserved borrowers, as measured by metrics such as FICO scores and debt to income ratios. Second, banks are subject to CRA because they have access to cheap federal funds. IMBs do the opposite.

Debt-to-income ratio 456

Debt-to-income ratio Banks Lending Loans 456

Housing Wire

MARCH 30, 2021

At HousingWire’s 2021 Annual Spring Summit, CreditXpert VP of Sales and Client Success Matt Hydrew and T odd Worthington , director of qualification support at Bank of England, discussed top-of-the-funnel strategies lenders can use to help borrowers gain a better understanding of their credit score. Or, give up looking altogether.

Pre-qualification 468

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 468

Housing Wire

APRIL 27, 2022

“In the context of higher interest rates, one could argue that with higher rates, there’s correlated higher mortgage payments, which make it more difficult for people to qualify because of debt-to-income ratios,” Brian Vieaux, FinLocker’s president, told HousingWire. FinLocker v3.0

Debt-to-income ratio 370

Debt-to-income ratio Mortgages Loans Banks 370

Housing Wire

MAY 3, 2023

Mohtashami anticipates that the Fed will push a pause on the interest rate hike in the next meeting, as the central bank is counting on credit getting tighter to create job recession. Federal regulators also seized First Republic Bank and sold it to JPMorgan Chase Bank earlier this week.

Mortgages 448

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 448

Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. Only borrowers have the right of rescission. Covid challenges.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Keeping Current Matters

DECEMBER 21, 2020

Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender. New debt comes with new monthly obligations. People with new debt have higher debt-to-income ratios. Higher ratios make for riskier loans, and then sometimes qualified borrowers no longer qualify.

Debt-to-income ratio 338

Debt-to-income ratio Mortgages Loan Officer Banks 338

Housing Wire

FEBRUARY 1, 2022

Fitch Ratings also notes that the reference loan-pool borrowers “have a strong credit profile,” with an average FICO credit rating of 748 and a debt-to-income ratio of 36%. The initial CRT deal of 2022, CAS 2022-R01 , involved a $1.5 billion.

Debt-to-income ratio 370

Debt-to-income ratio Investor Loans Principal 370

Housing Wire

AUGUST 22, 2024

We worked together during my days on the House Banking Committee, working to improve dealing with the federal flood insurance program. I have known Steve for over 40 years and respect him as a leader of a consumer organization that represents consumers on policy issues that impact their financial stability.

Debt-to-income ratio 353

Debt-to-income ratio Finance Mortgages Banks 353

Housing Wire

NOVEMBER 10, 2020

But unlike Fannie and Freddie, most non-QM loans rely on the borrower’s credit score and the loan-to-value ratio on the loan, rather than the debt-to-income ratio. For eight years they were not able to get a mortgage loan – they could have an 800 credit score, $2 million in the bank. That’s when we get ‘em.

Debt-to-income ratio 459

Debt-to-income ratio Loans Banks Loan Officer 459

Housing Wire

AUGUST 26, 2024

Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets. The dynamic has led to a repositioning of players in the market.

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

Housing Wire

DECEMBER 15, 2022

Sean Stephens, who is of counsel in the mortgage-banking practice group at law firm of Johnston Thomas. That means the loans from those years that end up being repurchased by lenders at their original value, often due to compliance issues such as elevated debt-to-income ratios, are now underwater. Paying in full.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 370

Housing Wire

AUGUST 23, 2023

So, a human underwriter might extract from looking at someone’s paystub, what their income is, and then type that into Empower Pro or Encompass, and then use that along with other things to calculate the consumer debt-to-income ratio or other things. We had Ally Bank and American Express.

Debt-to-income ratio 370

Debt-to-income ratio Technology Mortgages Pre-approval 370

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. He added that loan defects often leading to repurchase requests include, among others, borrower income-related issues (i.e.,

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

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 And so that’s where non-QM lending comes into play.”.

Marketing 418

Marketing Debt-to-income ratio Loans Investor 418

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. Income and credit information are inputted into the AUS. They do this to reduce their risk and to free up their capital to process more loans.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

MARCH 10, 2023

A host of nonbanks and traditional depository lenders, such as banks and credit unions, as well as a growing number of fintech firms continue to ramp up efforts and product lines to meet that demand. As of March 8, according to Commerce Bank , the prime rate was 7.75%. to 2 points.” level from the first quarter of 2021.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Realtor.com

NOVEMBER 2, 2020

Besides tax returns and proof that your business was up and running, lenders also had basic requirements for any borrower (self-employed or otherwise), which included things like a minimum credit score and maximum debt-to-income ratio. But the main difference is that as a freelancer, you just had to document the income.”. “In

Debt-to-income ratio 144

Debt-to-income ratio Pre-approval Mortgages Banks 144

Marco Santarelli

MARCH 6, 2025

The central bank even started to hint at potential rate cuts. Many buyers today are also banking on the idea of refinancing down the road. Do you have a solid down payment, good credit, and comfortable debt-to-income ratio? In 2024, we saw a bit of a breather.

Mortgages 97

Mortgages Debt-to-income ratio Banks Principal 97

Marco Santarelli

MARCH 4, 2025

Debt-to-Income Ratio (DTI): Lenders want to see that you have a handle on your debt. A lower DTI (the percentage of your gross monthly income that goes towards debt payments) signals that you're a less risky borrower. Credit Score: A higher credit score (typically 740 or above) will get you the best rates.

Mortgages 95

Mortgages Debt-to-income ratio VA loan FHA loan 95

Point2Homes

OCTOBER 6, 2020

Specifically, if you’re hoping to use cash that was deposited into your bank account to contribute to the down payment, you might want to reconsider. When you apply for a mortgage, the loan officer will review your income and compare it to your monthly expenses, which is your debt-to-income ratio — the lower the ratio, the better.

Debt-to-income ratio 144

Debt-to-income ratio Earnest money deposit Loans Loan Officer 144

Realty Biz

OCTOBER 25, 2021

Examples include employment verifications, W2s, pay stubs and bank statements. Your debt-to-income ratio will also be evaluated by your bank in order to help them determine if you can pay for your home. Second, you must go over your income, debt-to-income ratio and credit score.

Debt-to-income ratio 108

Debt-to-income ratio Mortgages Closing costs Equity 108

GeekEstate

JUNE 26, 2022

Landis leverages data to create customized financial plans for our clients so that they can save more money, improve their debt-to-income ratio, increase their credit score, and build a stronger financial foundation. Banks and other firms are using underwriting standards that were set by Fannie Mae and Freddie Mac decades ago.

Debt-to-income ratio 124

Debt-to-income ratio Technology Loan Officer Banks 124

Marco Santarelli

MARCH 6, 2025

The central bank even started to hint at potential rate cuts. Many buyers today are also banking on the idea of refinancing down the road. Do you have a solid down payment, good credit, and comfortable debt-to-income ratio? In 2024, we saw a bit of a breather.

Mortgages 97

Mortgages Debt-to-income ratio Banks Principal 97

Realty Biz

MARCH 12, 2023

They work for lending institutions, such as banks and mortgage companies. To evaluate creditworthiness, they analyze the borrower's credit score, income, and debt-to-income ratio. Analyzes Financial Documents These documents include tax returns, bank statements, and pay stubs.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages FHA loan Loans 105

RIS Media

MARCH 8, 2022

Each bank, credit union or online lender has its own criteria related to loan-to-value ratio, debt-to-income ratio and credit score. Those typically include pay stubs, tax returns and bank records. That may mean cutting back on spending for a few months or finding a side gig to bring in extra income. .

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Loans Banks 98

Marco Santarelli

FEBRUARY 7, 2025

Banks are much more cautious about who they lend to, requiring higher credit scores and larger down payments. During the mid-2000s, subprime lending was prevalent, and average credit scores for approved mortgages were likely lower than post-crisis averages. 2025: Lending standards have tightened significantly since the crash.

Pre-approval 87

Pre-approval Marketing Debt-to-income ratio Lending 87

Realtor.com

JANUARY 10, 2023

Even if you know how to scrimp and save to make your monthly mortgage payments, the bank doesn’t know how well you pinch pennies. How debt-to-income ratio is calculated with a co-signer. ” So make sure you choose a mortgage co-signer with high income and little debt to help offset your own numbers.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Loans Banks 105

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.

Hard money loan 112

Hard money loan Finance Debt-to-income ratio Home sale contingency 112

Realtor.com

JANUARY 17, 2022

Remember, banks don’t care about personal issues and will hold both parties on a mortgage liable for any missed payments. Review debt-to-income ratio: According to McDaniels, the party planning to keep the home must ensure that they can afford the mortgage on the single income.

Banks 84

Banks Debt-to-income ratio Title Lending 84

Realtor.com

FEBRUARY 3, 2022

“Banks commonly allow up to 28% of your gross income before taxes as your monthly house payment,” says Zigmont. What is debt-to-income ratio? While up to 28% of your income can go toward housing, this is likely not the full picture, since you might have other debts such as credit cards or college loans.

Debt-to-income ratio 105

Debt-to-income ratio Pre-approval Marketing Finance 105

HomeLight

JULY 23, 2024

Your relationship with the lender: Having an existing relationship with a lender, such as a bank where you have other accounts, can increase your chances of getting approved for a no-appraisal loan. Stable income: Demonstrating a reliable source of income reassures lenders of your ability to repay the loan.

Equity 116

Equity Loans Debt-to-income ratio Finance 116

Realtor.com

JANUARY 7, 2021

It’s recommended that buyers talk to a mortgage lender before they even start home shopping and get pre-approved , meaning they find out how much the bank is willing to lend them to buy. Did the bank require a down payment that was too high, for example? Still, pre-approval is not a guarantee that a buyer will get a loan.

Loans 133

Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

Imagine Your House

JANUARY 2, 2020

If you’re financing a home, you’ll find that your debt to income ratio is most important and your ability to get approved for a mortgage will be dependent upon how many bills you have in relationship to your income and how much credit that you’re using day in and day out. Do you want to be maxed out?!

Debt-to-income ratio 141

Debt-to-income ratio Inspection As-is Banks 141

Realty Biz

AUGUST 20, 2023

It's essential to gather the necessary documentation, such as bank statements and pay stubs, to support your application. Pre-approval requires you to submit documentation such as bank statements, pay stubs, and a comprehensive credit history review, resulting in a more accurate assessment of your borrowing capacity.

Pre-approval 94

Pre-approval Debt-to-income ratio Mortgages Loans 94