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.

VA loan 83

VA loan Loans HR Due diligence 83

Housing Wire

OCTOBER 9, 2024

4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2% Department of Veterans Affairs (VA) loans rose by 150 bps to account for 16.9% The average contract interest rate for 30-year fixed-rate loans with conforming balances ($766,550 or less) jumped from 6.14% to 6.36% during the week.

VA loan 458

VA loan Mortgages FHA loan Loans 458

Housing Wire

SEPTEMBER 23, 2024

mortgage products, and with Bryan on our team, we are poised to become the premier home loan provider for the servicemembers and Veterans of the Armed Forces,” Bianchi said in a statement Mortgage tech platform Modex shows that VA loans accounted for about 12% of the company’s mortgage origination volume over the past 12 months.

VA loan 448

VA loan Lending Loans Loan Officer 448

Housing Wire

SEPTEMBER 25, 2024

The MBA reported that the average loan size across all purchase and refi applications grew to $413,100, the highest figure in the history of the MBA’s dataset. Department of Veterans Affairs (VA) loans grew significantly, rising by 250 bps to a share of 18.3%. Demand for U.S.

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FHA loan Mortgages VA loan Fixed-rate mortgage 448

Housing Wire

MARCH 1, 2021

And who couldn’t use an extra $60,000 in the bank?). Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan.

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. About 74% of the 2,256 homebuyer assistance programs are down payment and closing cost assistance programs.

FHA loan 482

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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VA loan FHA loan Fixed-rate mortgage Banks 435

Housing Wire

JULY 22, 2024

EG: The Community Reinvestment Act (CRA) is a federal and state law that encourages banks and lenders to meet credit needs, including mortgages, for low- and-moderate income communities. ZL: Consolidated Analytics recently rolled out a ‘Quality Control Checklist.’

Lending 447

Lending VA loan Banks Investor 447

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. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements. USDA loans, on the other hand, are options for rural homebuyers.

VA loan 418

VA loan FHA loan Loans Banks 418

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. According to its website, it includes a portfolio with fixed and adjustable rate mortgages (ARMs) and government loans, such as FHA, USDA and VA loans.

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Lending VA loan Loan Officer Loans 397

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? Mortgage credit can get tight for jumbo loans, non-QM loans and home equity lines, but general conforming Freddie Mac and Fannie Mae loans, FHA , and VA loans should be steady during the next recession.

Loans 539

Loans VA loan Banks Mortgages 539

Housing Wire

OCTOBER 4, 2023

It was a similar story for Steve Miller, branch manager and senior loan officer at Embrace Home Loans. About 60% of his clients are first-time homebuyers, and more often than not they are using FHA loans, VA loans and DPA programs.

FHA loan 468

FHA loan Loans Loan Officer Mortgages 468

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

Mortgages VA loan Loans Banks 418

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

OCTOBER 21, 2022

The Community Home Lenders Association , a trade group whose members are smaller independent mortgage banks, asked Ginnie to “show flexibility” in these requirements as it works with issuers “in order to avoid a potential adverse market impact which might result from issuers selling Ginnie Mae MSRs to meet the new requirements.”

VA loan 370

VA loan FHA loan Loans Banks 370

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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VA loan Loans Pre-qualification Loan Officer 107

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.

Lending 370

Lending Earnest money deposit VA loan Loans 370

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.

VA loan 190

VA loan Pre-approval Loans Mortgages 190

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?

VA loan 105

VA loan Loans Mortgages Renovation 105

Housing Wire

JANUARY 26, 2022

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. Refinancing is also not an option.

Mortgages 370

Mortgages Pre-approval VA loan Lending 370

Housing Wire

SEPTEMBER 21, 2020

We know that FHA loans have become delinquent at a much higher rate, with the total past due rate above 15% in the second quarter (as reported in MBA’s National Delinquency Survey), and FHA and VA loans have been in forbearance at a much higher rate than GSE loans, per our Weekly Forbearance and Call Volume Survey.

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FHA loan Loans VA loan Mortgages 542

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.

Mortgages 370

Mortgages VA loan Loans Technology 370

Housing Wire

MAY 3, 2023

“The jumbo-conforming spread continues to narrow, an indication that there is reduced lender appetite for jumbo loans following the recent turmoil in the banking sector and heightened concerns about liquidity. The spread was 13 basis points last week, after being as wide as 64 basis points in November 2022,” Kan said.

Mortgages 418

Mortgages Fixed-rate mortgage Banks Lending 418

Housing Wire

JUNE 8, 2023

After the creation of title insurance, this practice remained prevalent in the conventional residential mortgages, until the rise of the GSEs and commercial banks setting up mortgage operations. Due to the large national footprint of both the GSEs and large commercial banks, title insurance quickly became de rigueur.

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Title VA loan Title search Commercial 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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FHA loan Bankruptcy Marketing Loans 476

Housing Wire

JULY 12, 2022

The VA also faces challenges unrelated to the pandemic. 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. Our borrowers are the cream of the crop.

VA loan 370

VA loan Loans Industrial As-is 370

Housing Wire

OCTOBER 24, 2022

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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Principal Banks Loans Mortgages 334

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. “As banks reduce their willingness to hold jumbo loans, we expect this narrowing trend to continue,” Kan said. Rates for jumbo loans increased to 6.62% from 6.48% in the same period.

Mortgages 397

Mortgages Marketing Fixed-rate mortgage Loans 397

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% Prior to the national emergency issued on March 13 and the 1.8 Spoiler – this will not be the last time rates break their own record.

Mortgages 545

Mortgages Loans VA loan Investor 545

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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VA loan Loans FHA loan Mortgages 65

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. They do this to reduce their risk and to free up their capital to process more loans. This practice disproportionately affects minority first-time homebuyers.

Closing 370

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

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

HomeLight

DECEMBER 19, 2023

But what if there was a way to bypass these rates by taking over an existing home loan? But can you buy someone’s mortgage from the bank? What does it mean to buy someone’s mortgage from the bank? VA loans: These loans, provided by the Veterans Affairs , can be assumed by both veterans and non-veterans.

Banks 115

Banks Mortgages VA loan Loans 115

Marco Santarelli

MARCH 4, 2025

VA Loans: For eligible veterans, VA loans offer great benefits, including no down payment and often lower interest rates. FHA Loans: FHA loans are insured by the Federal Housing Administration and are designed for borrowers with lower credit scores or smaller down payments. ARMs can be risky.

Mortgages 95

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

Windemere Buying

NOVEMBER 11, 2020

VA loans provide a path toward homeownership for active service and veteran personnel and their families. The following serves as a guide to understanding what they are, who they are available to, and what types of loans are available to them. What Are VA Loans? How Do VA Loans work?

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VA loan Loans Purchase and sale agreement Closing costs 52

Housing Wire

AUGUST 2, 2024

. “I believe the best way to care for the veteran is a loan with little to no fees. ” As for the future, he’s not banking on the notion that rates are going to continue dropping into the low 6s and beyond. The lowest rate for the lowest possible cost is the way I want to go.”

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

NOVEMBER 29, 2022

Pennymac said the new FHFA conforming loan limits for its borrowers increased immediately following the announcement. United Wholesale Mortgage will honor the new limits starting November 30 for conventional and VA loans. And this (the new loan limit) isn’t going to change that.

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Loans VA loan Lending Mortgages 284