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. While I’m a fan of improving antiquated systems, I first wonder if the VA, the MBA, or Congress were open enough about the problems with the current system.

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Housing Wire

JULY 26, 2024

“CHLA is thrilled to see the Senate boost in funding for Ginnie Mae, which plays a critical role for independent mortgage banks, and particularly for smaller issuers,” said Scott Olson, executive director of CHLA. The next step will be for the bill to go to the full Senate for a floor vote.

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VA loan Loans Mortgages Banks 475

Housing Wire

SEPTEMBER 25, 2024

Purchase loan applications saw more modest increases of 0.4% And the rate for Federal Housing Administration (FHA) loans dropped to 5.99%, “breaking the psychologically important 6% level,“ according Joel Kan, the MBA’s vice president and deputy chief economist. Rising home prices are reflected in larger loan sizes.

FHA loan 448

FHA loan Mortgages VA loan Fixed-rate mortgage 448

Housing Wire

JUNE 17, 2024

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. Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Wells Fargo, which was among the top 25 U.S.

Closing costs 482

Closing costs Closing VA loan Banks 482

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. USDA loans. Though USDA loans are technically reserved for homes in “rural” areas, you’d be surprised at how much of America actually qualifies for these mortgages. How much house can you afford to buy?

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

Housing Wire

NOVEMBER 9, 2023

A total of 224 programs will fund certain upfront loan fees including the upfront mortgage insurance premium on FHA loans , the funding fee on VA loans and the guarantee fees on USDA loans. Some 10% of the programs are first mortgages and 3% of programs are mortgage credit certificates (MCCs).

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FHA loan VA loan Finance Loans 482

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

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Housing Wire

JULY 22, 2024

Quality control also ensures that mortgage loans meet investor and regulatory standards, which minimize the risk of defaults and foreclosures adversely impacting local markets. This process helps to ensure the accuracy of property values, hedging the risk of blight and preserving community stability and aesthetics.

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VA loan Lending Banks Investor 441

Housing Wire

OCTOBER 27, 2020

Bank raised its FICO score requirements to 680 on FHA, VA and USDA loans. Both VA and USDA loans require zero down payment. Both VA and USDA loans require zero down payment. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements.

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VA loan FHA loan Loans Banks 418

Housing Wire

MARCH 30, 2023

With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. housing market. Because the U.S.

Loans 539

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Housing Wire

FEBRUARY 28, 2023

Virginia-based mortgage bank Prosperity Home Mortgage, LLC has acquired the assets of Arizona-based JFQ Lending, LLC to explore the direct-to-consumer channel. The company has 548 active loan officers and 379 branches, per the Modex data. The data shows that 56% are conventional loans and 82% are refinance loans.

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Housing Wire

SEPTEMBER 21, 2020

Millions of homeowners still have a sizeable incentive to refinance, given the difference between the rate on their current loan and available market rates. 1, 2020, it was not unusual to see lenders quoting higher rates for refinances relative to purchase loans. Even prior to the imposition of this fee, now effective on Dec.

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Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. ” Raise the (conforming loan) roof. nonbank lenders are wasting no time.

Loans 284

Loans VA loan Lending Mortgages 284

Housing Wire

JANUARY 17, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory. . About 70% of Prosperity’s production comes from affiliate realtors.

Mortgages 418

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Housing Wire

OCTOBER 21, 2022

If local lenders are able to leverage strategic partnerships to bring new loan offerings to market, they’ll be ideally positioned to serve a wider range of borrower needs and create lasting change in American homeownership. 30, banks controlled 15.9% Industry trade groups cheered the decision to delay the rule’s implementation.

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Housing Wire

FEBRUARY 3, 2025

Company Name Company Website Markets Served Company HQ MMI mmi.io/ Loan Origination Cottonwood Heights, UT Paradatec paradatec.com/ Loan Origination, Servicing, Secondary and Closing Wilmington, DE Outamation outamation.com/ Servicing Southlake, TX Orion Lending orionlending.com/ Loan Origination Orange, CA Optimal Blue www2.optimalblue.com/

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Housing Wire

MARCH 29, 2022

Whether borrowers scan paper bank statements or upload PDFs retrieved from online banking, they must provide lenders with all statement pages, including those intentionally left blank by the financial institution. Department of Veterans Affairs (VA), U.S. Changing the Game: Digital Verification of Assets.

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Realty Biz

APRIL 24, 2021

A VA Loan Certificate of Eligibility is your proof of service, and it shows that you’re qualified to receive your VA loan benefits. You may be eligible for a VA mortgage if you have served or are currently serving in the military. What is the VA Loan Certificate of Eligibility?

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Inman

FEBRUARY 15, 2024

Borrowers can use the company's Tinman platform to see their rates and get pre-approved in minutes, and may qualify to buy with no down payment.

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Housing Wire

MAY 3, 2023

The MBA survey shows the average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.50% last week from 6.55% the prior week. Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis.

Mortgages 418

Mortgages Fixed-rate mortgage Banks Lending 418

HomeLight

SEPTEMBER 20, 2024

If you’re on active duty, a military veteran, or the surviving spouse of someone who has served in the military, buying a home could be more affordable than you realize, thanks to the home loan offered by the Department of Veterans Affairs (VA). VA loan basics: How common are these types of mortgages? recorded in 2022.

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Housing Wire

JANUARY 26, 2022

.” According to the company, jumbo loans will be available for both 15-and-30-year cycles. For qualifying buyers, loans can be distributed in amounts up to $3 million. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans.

Mortgages 369

Mortgages VA loan Pre-approval Lending 369

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. Indeed, one West Coast LO told HousingWire that he quoted a borrower a 5.75% rate on a 30-year FHA loan for a $500,000 Southern California home purchase.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

AUGUST 26, 2022

HousingWire recently spoke with Lee Smith and John Gibson at Flagstar Bank about what originators can do to align their mortgage products and services with the ebb and flow of the housing market and what Flagstar is doing to help clients remain at the top of their game during this turbulent time. Lee Smith: Definitely.

Mortgages 370

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Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. The central bank raised the interest rat e by a half percentage point on Wednesday to reduce the $9 trillion asset portfolio that ballooned since the pandemic.

Mortgages 370

Mortgages VA loan Fixed-rate mortgage Banks 370

Housing Wire

SEPTEMBER 22, 2023

While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% Elevated mortgage rates will lead to more lenders spilling red ink in the latter half of the year, in contrast to the improved financial performance of independent mortgage banks in Q2. DPA programs were predominantly for FHA loans.

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Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. This was a reversal of the previous week’s trend, when homebuyers’ loan demand increased by 5.3%. Rates on jumbo loans (greater than $726,200) rose to 6.28% from 6.26% on a weekly basis.

Mortgages 397

Mortgages Marketing Fixed-rate mortgage Loans 397

Housing Wire

SEPTEMBER 13, 2023

Tim Mayopoulos , former CEO of Fannie Mae , who was named CEO of Silicon Valley Bank N.A. It allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. in March, is also listed as a senior advisor.

Mortgages 459

Mortgages Loans Banks Investor 459

Housing Wire

JULY 12, 2022

The perception of VA loans as risky and logistically complicated — even if an outdated view — continues to impact the competitiveness of the borrowers it serves. But the VA is hoping to change that. How is the VA addressing this? JB : A lot of it had to do with our interest rate reduction refinance loan.

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VA loan Loans Industrial As-is 370

Housing Wire

DECEMBER 30, 2020

Crucially, on March 23 Federal Reserve Chairman Jerome Powell announced the central bank would make “unlimited” MBS purchases, pushing the average 30-year fixed mortgage back down to 3.5% billion a day of securities containing home loans packaged by Fannie Mae, Freddie Mac and Ginnie Mae. Rocket Companies revealed this month a $3.5

Mortgages 545

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Housing Wire

OCTOBER 24, 2022

And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. The 10 offerings together involve Fannie Mae , Freddie Mac and Ginnie Mae loan pools valued collectively at $12.77 Over the first nine months of this year, banks have far outstripped nonbanks in buying up MSR packages.

Principal 334

Principal Banks Loans Mortgages 334

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.

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

Housing Wire

JUNE 8, 2023

Fannie Mae dropped a bomb on the title insurance industry in April 2022, when it adjusted its selling guide to allow the purchase of loans using attorney opinion letters (AOLs). For context, Fannie Mae purchased a total of 1.151 million loans in 2022.

Title 366

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Housing Wire

JULY 12, 2023

Purchase loans continue to claim a larger share of the origination pipeline as refinance opportunities dwindle, according to Black Knight ’s originations market monitor report. In other words, nearly nine out of every 10 mortgages originated is a purchase loan. Demand for ARM loans dipped slightly to 7.38% of total locks.

Marketing 369

Marketing Loans Lending Mortgages 369

Housing Wire

MAY 15, 2023

Researchers at the Federal Reserve Bank of New York estimate the size of this boom in a new report. The data, published on Monday, shows that older vintage mortgages (loans originated before 2010) accounted for under 9% of the total refinanced during the Covid-19 refi boom.

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Realty Biz

SEPTEMBER 24, 2022

Military borrowers looking to buy or refinance a home might want to consider a VA loan. Department of Veterans Affairs (VA), this loan option can make buying a home easier for those who might otherwise struggle to afford a mortgage. What Is a VA Loan? Benefits of a VA Loan. Backed by the U.S.

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HomeLight

SEPTEMBER 30, 2020

Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. In a short sale, the owner owes more on their mortgage loan than the house is worth. But what if you’re buying a short sale?

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