Housing Wire

DECEMBER 9, 2024

Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. Many sellers are offering to cover 2-3% of closing costs.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. Who is eligible?

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 448

Loans Development Closing costs Finance 448

Housing Wire

FEBRUARY 10, 2025

These younger servicemen and women often face difficulties navigating the homebuying process, particularly around paying closing costs. The housing benefits have been instrumental in securing more than 28 million home loans for Veterans over the last 80 years.

Industrial 221

Industrial VA loan Lending Loans 221

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As And even those offerings generally do not convert into actual savings for clients.”

Loans 482

Loans Loan Officer Mortgages Closing costs 482

Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings. Soham Bhonsle, an analyst at BTIG, shares a similar outlook.

Title 459

Title Industrial Land Closing costs 459

Housing Wire

NOVEMBER 9, 2023

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

Loans Closing costs Mortgages Closing 435

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. But not every manufactured home owner owns the land. billion in the second quarter from $53.8 billion in the first quarter.

Loans 418

Loans Mortgages Land Finance 418

Housing Wire

DECEMBER 16, 2024

With the lawsuits, I saw a lot of leaders acting like there has never been any regulatory change to the industry or that there has never been upheaval or challenges that you cant control, Hanna said. of the loan amount) at settlement to use toward their closing costs.

Brokerage 370

Brokerage Agents Technology Industrial 370

Housing Wire

NOVEMBER 30, 2022

Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate that are working to improve the housing industry through tech innovation. The promises of technology have largely been lost in the mortgage industry and little has been done to reduce costs for homebuyers.”.

Industrial 370

Industrial Title Lending Technology 370

Housing Wire

DECEMBER 12, 2024

Editor in Chief Sarah Wheeler sat down with Jeff Bell, president of both UpWell Mortgage and software company Uplist , to talk about how he thinks about technology, and the good news that the industry is turning a corner after two rough years. JB: I think our industry is turning a corner. JB: Its accurate and it’s easy.

Loan Officer 370

Loan Officer Loans Technology Mortgages 370

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Industrial 448

Industrial MLS FHA loan Agents 448

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Closing costs 488

Closing costs Development Equity Closing 488

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. 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% points from the 7.5%

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

DECEMBER 14, 2023

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. Given the typical borrower is paying more than $7,000 in closing costs, that might be an understatement. In fact, neither is true. increase in fees).

Title 459

Title Closing costs Loans Title search 459

Housing Wire

DECEMBER 14, 2023

Under the new selling guidelines, Fannie Mae said it would allow AOLs to be used on “loans secured by a unit in a condo project” and “loans secured by a property subject to restrictive agreements or restrictive covenants.”

Title 466

Title Land Finance Loans 466

Housing Wire

MAY 1, 2024

This has led to the development of policies by state and local housing finance agencies to aim assistance specifically at this group, particularly for “mortgage eligibility or down payment and closing costs assistance.” Identification of a loan under these conditions is currently optional, the bulletin explained.

Mortgages 459

Mortgages Finance Loans Closing costs 459

Housing Wire

DECEMBER 18, 2023

In her first national interview since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, National Association of Realtors (NAR) president Tracy Kaspe r said the trade group would continue to advocate for what it feels is best for consumers. “We

MLS 488

MLS Loans Closing costs Industrial 488

Housing Wire

OCTOBER 22, 2024

Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers automatically generate refinance options for their clients. Unlike other industry “rate alerts,” Uplist’s product fully automates the entire refinance analysis process.

Loan Officer 435

Loan Officer Loans Technology Closing costs 435

Housing Wire

NOVEMBER 20, 2024

per joint application for a tri-bureau credit report, the industry standard. Mortgage , which has 330 sponsored loan officers across 39 active branches, expects that most credit bureaus will raise their prices as well. “By However, executives at mortgage lenders view these costs differently. per score—equating to $4.35

Mortgages 435

Mortgages Loan Officer Loans Closing costs 435

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

FHA loan 476

FHA loan Loans Title Mortgages 476

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. Certner cited fair lending concerns and the potential of undue borrower influence. They’re using it to help shape the process going forward.

Mortgages 447

Mortgages Closing costs Equity Construction 447

Housing Wire

OCTOBER 17, 2024

Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications. of a typical $6,000 mortgage closing cost. Fair Isaac Corp. to at least $5, according to the estimates.

Investor 531

Investor Mortgages Closing costs Loans 531

Housing Wire

AUGUST 30, 2024

For loans backed by Federal Housing Administration ( FHA ), it is a matter of law. Likewise, for FHA loans, you’d need to pass an Act of Congress, while Veterans would need to convince the Secretary of Veterans Affairs that a change is in the best interest of veterans, taxpayers, and investors. But this is much easier said than done.

Finance 448

Finance Agents FHA loan Closing costs 448

Housing Wire

APRIL 26, 2023

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Strategies to differentiate themselves include buying leads, providing niche loans and getting on builders’ preferred lender list.

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

Housing Wire

FEBRUARY 5, 2021

According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. Last year, the mortgage firm also had two loan originators produce over $1 billion in mortgages: Ben Cohen and Shant Banosian. According to the NMLS, Owning has 62 loan officers and was formed in 2018.

Loan Officer 448

Loan Officer Loans Closing costs Title 448

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

FHA loan 449

FHA loan Loans Title Mortgages 449

Housing Wire

JUNE 11, 2024

Thus, keeping abreast of regulatory and investor updates and trends is vital to maintaining loan quality and compliance. How are lenders managing loan quality these days? Trevor Gauthier: Overall, lenders are managing loan quality quite well. What are some of the current compliance issues/trends that could impact loan quality?

Loans 447

Loans Lending Mortgages Closing costs 447

Housing Wire

JULY 2, 2024

to its endorsement tally to finish at 534 loans, after lagging behind Mutual of Omaha Mortgage in recent months. to 56 loans, while South River Mortgage and HighTechLending also managed positive growth in June. Equity takeout” loans — reverse mortgages that are neither purchases nor refinances — dropped by 4.8%

Mortgages 434

Mortgages Equity Loans Loan Officer 434

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

Fixed-rate mortgage 468

Fixed-rate mortgage Loans Mortgages Loan Officer 468

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. EG: As a thought leader in the mortgage industry, we wanted to provide lenders with a new tool to use in their risk mitigation toolbox.

VA loan 447

VA loan Lending Banks Investor 447

Housing Wire

MARCH 1, 2024

While mortgage rates will likely fall this year, conversations about how to increase accessibility to homeownership are still top of mind — and should be top of mind — across the real estate industry. Accounting for geography, differences in title and settlement costs across groups of borrowers were not “economically meaningful.”

Title 467

Title Title search Industrial Closing costs 467

Housing Wire

JUNE 21, 2024

The Montana Board of Housing is aiming to remind the state’s seniors about a government-administered program that is specifically designed to help older adults access their home’s equity — and it should be very familiar to members of the reverse mortgage industry. This is where the RAM program can come into play.

Mortgages 397

Mortgages Equity Finance Closing costs 397

Housing Wire

FEBRUARY 12, 2024

Furthermore, the average consumer is likely unaware of the variety of loan options available to them through the wholesale channel. This is why it’s more important than ever for independent mortgage brokers across the country to establish themselves as an expert and trusted advisor in the mortgage industry.

Mortgages 482

Mortgages Loans Closing costs Industrial 482

Housing Wire

DECEMBER 16, 2022

For most real estate industry professionals, title insurance needs no introduction. While other forms of insurance have seen rate increases in recent years, the average cost of title insurance coverage has decreased 7.8% nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021.

Title 493

Title Title search Closing costs Land 493