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The risk of zero-down loans while the Fed talks recession

Housing Wire

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

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As the VA loan turns 80, its economic impact is in the trillions

Housing Wire

An analysis released Wednesday by Columbia, Missouri -based lender Veterans United Home Loans revealed that the home loan program through the U.S. The VA loan program — which was established in 1944 through the GI Bill — will celebrate its 80th anniversary on June 22. Department of Veterans Affairs (VA) has contributed $3.9

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GSEs: Lenders must address quality issues for ‘fatal data points’ before delivering loans

Housing Wire

Fannie Mae and Freddie Mac jointly announced this week that they have entered a new critical edit phase for their Uniform Closing Dataset (UCD) as of Nov. 6, informing lenders that they must address quality issues for “fatal data points” before delivering loans to either of the government-sponsored enterprises.

Loans 435
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FHFA annual report highlights GSE actions on affordable housing

Housing Wire

These include oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac , mortgage purchases designed to improve affordability for low-income homeowners, vendor partnerships and investments in the Low-Income Housing Tax Credit (LIHTC) program. The GSEs also “invested over $1.7

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Can Closing Costs Be Rolled Into Your Mortgage?

Redfin

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. However, the trade-off is higher monthly payments and more interest paid over the life of the loan. What are closing costs?

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

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Uplist’s Jeff Bell on finding efficiencies for loan officers

Housing Wire

So we built a flyer with a QR code on it that points to a library search where the customer can put in whatever they want and the way its designed is specific to that listing. Our Recapture product monitors loans, does a deep analysis and then sends a presentation to the customer about options to save them money.