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. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

Housing Wire

OCTOBER 10, 2024

According to the consent order signed by Connecticut banking commissioner Jorge L. In November 2023, Wells Fargo sued LoanSnap for $431,511 in a district court in Minnesota, alleging breach of contract in selling a mortgage that did not meet contractual requirements, such as excessive and unsupported debt-to-income ratios.

Debt-to-income ratio 418

Debt-to-income ratio Mortgages Loan Officer Banks 418

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for.

Pre-qualification 468

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

Housing Wire

DECEMBER 13, 2024

The decline was sharper for refinances when compared with purchase loans, according to the report. Most of the refinance originations left in the market were a small number of cash-out refinance loans. Despite rising rates that fueled this increase, debt-to-income ratios did not see a significant change in the same period.

Debt-to-income ratio 370

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

Housing Wire

NOVEMBER 12, 2020

Not only does a prime credit score improve your chances of getting approved for a mortgage, but it also helps you secure a lower interest rate, too — and that means a more affordable loan on the whole. If you currently have a high utilization rate (total balance / credit limit * 100), then work on paying down your debts to lower it.

Debt-to-income ratio 508

Debt-to-income ratio Banks Loans Mortgages 508

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And it just might push some smaller lenders over the cliff.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 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. This makes no sense for many reasons.

Debt-to-income ratio 417

Debt-to-income ratio Banks Lending Loans 417

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. There were enough significant findings to make these loans unsalable.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

OCTOBER 30, 2024

When asked whether loan buybacks were a more significant issue last year than now, Freddie Mac executive Sonu Mittal says emphatically, “It depends on who you ask.” Freddie Mac has seen a nearly 55% reduction in repurchase requests from its peak in the first quarter of 2023. This expands upon a pilot program launched earlier this year.

Debt-to-income ratio 429

Debt-to-income ratio Loans Loan Officer Finance 429

Housing Wire

NOVEMBER 1, 2024

According to Davis, rising home prices have led homeowners to tap into their equity for purposes such as debt consolidation , home renovation and student loan repayment. The Deephaven HELOC has a maximum loan size of $400,000 and a max loan-to-value (LTV) ratio of 85%.

Equity 391

Equity Debt-to-income ratio Mortgages Investor 391

Housing Wire

APRIL 27, 2022

Amid a challenging time for would-be homebuyers, FinLocker released an updated web experience that aims to make it easier for consumers to see their progress in qualifying for a mortgage loan. The main feature of the firm’s web v3.0 FinLocker v3.0

Debt-to-income ratio 367

Debt-to-income ratio Mortgages Loans Banks 367

Housing Wire

FEBRUARY 1, 2022

The recent offering , CAS Series 2022-R02, involves transferring loan-portfolio risk to private investors via a $1.2 billion note offering backed by a reference pool of 149,393 residential mortgage loans valued at $44.3 trillion in single-family mortgage loans, measured at the time of the transaction. billion.

Debt-to-income ratio 370

Debt-to-income ratio Investor Loans Principal 370

Keeping Current Matters

DECEMBER 21, 2020

You’re undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major life changes, consult your lender – someone who is qualified to tell you how your financial decisions may impact your home loan. New debt comes with new monthly obligations.

Debt-to-income ratio 334

Debt-to-income ratio Mortgages Loan Officer Banks 334

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. At that point, Dodson was actively working on a jumbo loan for friends of his from church. And whether you do it or someone else does it, that loan is going to get done.” So you stop.”. Everyone bowed out.

Debt-to-income ratio 459

Debt-to-income ratio Loans Banks Loan Officer 459

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 447

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 447

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 455

Mortgages Banks Debt-to-income ratio Loans 455

Housing Wire

JANUARY 21, 2022

The platform currently offers two ESG mortgage programs — one focused on green home loans, called MAXEX Sustainable ; and the second, MAXEX Opportunity , serves minority, women and veteran-owned mortgage lenders and is focused on the socially responsible part of ESG. Slump added. That’s been an obstacle,” he said.

Marketing 418

Marketing Debt-to-income ratio Loans Investor 418

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. Unlike tangible assets, these costs are akin to personal loans with no collateral to recover in case of default.

Debt-to-income ratio 350

Debt-to-income ratio Finance Mortgages Banks 350

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. 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.

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%. The Fed report is a measure of loan balances, not originations.) “The

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

AUGUST 23, 2023

Nunes: Last August, Better partnered with Palantir to create the proprietary loan platform you mentioned, Tinman Marketplace. Anytime we have a rule change that we put into the system, we run it against all the loans that we’ve done previously to see if that rule was applied today, whether it would be consistent or not.

Debt-to-income ratio 370

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

HomeLight

JULY 23, 2024

You might be wondering if you can get a no-appraisal home equity loan. In this guide, we’ll dive into what a no-appraisal home equity loan is, whether you can get one, and the pros and cons of choosing this option. Get Estimate What is a no-appraisal home equity loan? Can I get a no-appraisal home equity loan?

Equity 116

Equity Loans Debt-to-income ratio Finance 116

Realtor.com

JANUARY 7, 2021

First, let’s talk about why a home buyer might not be approved for a loan. 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. appeared first on Real Estate News & Insights | realtor.com®.

Loans 133

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

RIS Media

JUNE 6, 2021

Are you wondering how land loans work? Getting a loan for land is a smart move, especially when you will not be constructing your home right away. Let’s take a look at everything you need to know about acquiring a land loan, so your financing is an easy, carefree process. Where Do You Get Your Loan? Land Loan Types.

Land 126

Land Loans Debt-to-income ratio Construction 126

Realty Biz

DECEMBER 8, 2022

Most people need to get help from a lender to buy a home, and applying for a loan can be difficult at times. With a good credit history and a score that's above 700, you will more easily qualify for a loan and benefit from better rates and terms. These costs can be as much as 5% of the loan amount. How Much Can You Afford?

Loans 134

Loans Debt-to-income ratio Due diligence Title search 134

HomeLight

OCTOBER 25, 2023

Enter the bridge loan: a timely financial lifeline that lets you buy your new home before selling your old one. We’ll delve into the mechanics, pros, cons, and alternatives to bridge loans, ensuring you have all the tools you need to make the best decision for your unique situation. What is a bridge loan, in simple words?

Equity 111

Equity Loans Debt-to-income ratio Closing costs 111

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

HomeLight

MARCH 9, 2023

Disclaimer: This post about loan and assistance programs for low-income and minority homebuyers is provided for educational purposes and does not constitute financial advice. We’ve gathered information about assistance programs and their various options, from loans to down payment assistance. However, there is help out there.

Loans 96

Loans Debt-to-income ratio VA loan FHA loan 96

Realty Biz

FEBRUARY 22, 2024

Key Takeaways from this Article Gather all documentation to get pre-approved, including your SSN, proof of income, banking information, and tax forms. Make sure all your finances are squared away, including disputing incorrect data on your credit report or paying off existing debts to signal to lenders you can afford your mortgage.

Pre-approval 80

Pre-approval Debt-to-income ratio Loans Banks 80

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. In particular, the lender needs to confirm that the money was obtained through legal means and that it isn’t a loan. Proving the Source of Your Cash. Gifts Toward the Down Payment.

Debt-to-income ratio 144

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

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. The FHA Loan program was created to help low to moderate-income homebuyers, particularly those that do not have enough cash saved for a down payment.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Realty Biz

MARCH 12, 2023

A real estate underwriter plays a critical role in the mortgage industry by evaluating loan applications and assessing real estate investment-associated risks. They work for lending institutions, such as banks and mortgage companies. 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

HomeLight

JUNE 30, 2024

Are you looking to kickstart your next real estate project in Orange County with a hard money loan? 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. How does a hard money loan work?

Hard money loan 112

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

Realty Biz

OCTOBER 25, 2021

Trying to secure a loan as a first-time home buyer can be difficult. Finding a loan with a low to moderate interest rate will save you thousands of dollars down the road. Moreover, your credit score needs to be high enough to qualify for such loans. Examples include employment verifications, W2s, pay stubs and bank statements.

Debt-to-income ratio 108

Debt-to-income ratio Mortgages Closing costs Equity 108

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. ” This person physically co-signs the mortgage or deed of trust note with you, adding the security of their income and credit history against the loan.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Loans Banks 105

RIS Media

MARCH 8, 2022

The lender wants to figure out if you will be able to repay a loan or if you would be likely to default. 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.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Loans Banks 98

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