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How to stay competitive with specialty mortgage products heading into 2023

Housing Wire

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.

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The MSR sector continues to shine, but there is a looming concern

Housing Wire

And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. Over the first nine months of this year, banks have far outstripped nonbanks in buying up MSR packages. Banks have been net purchasers of MSRs, to the tune of $107.8 billion — compared with $51.1 The weak link?

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Here’s How to Use a Down Payment Calculator to Help Set a Home Budget

HomeLight

“The down payment is showing the bank that you’re putting some skin in the game,” says Helali. Every time a bank provides somebody with a loan, the bank’s essentially investing in that person.”. Basically, you’re showing the bank that their investment is safe and you’re unlikely to stop making payments.

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Your Guide to Buying a House While You’re In the Military (And Is It a Good Idea?)

HomeLight

If you’re planning on using a VA loan, how does that impact affordability ? The less you owe on the principal loan, the smaller your monthly mortgage payment. The VA funding fee can increase every time you use your VA loan. Do you know what your funding fee will be if you go with a VA loan?

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What is a Mortgage and How Do They Work?

Redfin

In short, a mortgage is a loan from a lending institution to cover a home’s purchase. The bank or lending institution holds the note for the house as collateral for the loan. For example, if you provide $20,000 as a downpayment for the home you plan to buy for $200,000, your principal loan amount would be $180,000. .

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FREE Webinar: Update on Current VA Appraisal Topics

McKissock

Don’t miss this FREE update on VA appraisal topics on Wednesday, February 22nd from 11am-12pm ET. He was an independent fee appraiser on the VA panel for over 9 years prior to his current position. He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Sign up now.

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Mortgage Broker vs Lender: What’s the Difference and Which Should You Choose

HomeLight

It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank. Since brokers work with multiple lenders, they can bring forth numerous quotes so buyers can easily choose between loans with different rates. Decisions, decisions. What are you, a prospective homebuyer, to do?