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. A VA loan is a mortgage partially backed by the U.S.

VA loan 468

VA loan Loans Mortgages Lending 468

Keeping Current Matters

MAY 17, 2021

Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According to Trulia : “ When you close on a home, a number of fees are due.

Closing costs 288

Closing costs Closing Title Land 288

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification. “The for credit reports.

Construction 418

Construction Loans Loan Officer New Construction 418

Housing Wire

JUNE 12, 2024

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

VA loan 458

VA loan Loans As-is Mortgages 458

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

Loans 482

Loans Loan Officer Mortgages Closing costs 482

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. Once the home arrives on site and is placed on a permanent foundation, it becomes a real property and is able to be financed through a mortgage.

Loans 418

Loans Mortgages Land Finance 418

Housing Wire

MARCH 21, 2024

In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as income verification is required for both during loan underwriting and just before closing.

Closing costs 482

Closing costs Loans Title Finance 482

Housing Wire

FEBRUARY 5, 2024

Freddie Mac will offer a $2,500 credit for very low-income purchase borrowers to help with down payment and closing costs amid elevated interest rates and low housing supply. The credit can be used for down payments, closing costs, escrow and mortgage insurance premiums.

Mortgages 526

Mortgages Closing costs Finance Loans 526

Housing Wire

FEBRUARY 3, 2023

The Lock ‘n’ Roll program is eligible for conventional and government fixed-rate loans, with the lock period being a minimum of 60 days, according to its website. With 466 branches across the country, the lender has more than 1,910 active loan officers, according to mortgage data platform Modex.

Loans 370

Loans Loan Officer Closing costs Mortgages 370

Housing Wire

JANUARY 24, 2024

Fannie Mae has announced updates to its HomeReady product, including a temporary $2,500 credit for very low-income purchase borrowers to use for down payment and closing costs. Another step the government-sponsored enterprise took was to enhance the best efforts commitments on HomeReady loans. 1, 2024, to Feb. 1, 2024, to Feb.

Closing costs 497

Closing costs Loans Closing Mortgages 497

Housing Wire

NOVEMBER 7, 2023

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%

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

SEPTEMBER 16, 2020

In an interview this week with HousingWire, the 40-year-old Ishbia dished on how the third quarter is shaping up , capacity limits in the mortgage industry, the likely impact of the upcoming adverse market fee , and the company’s latest low-rate mortgage product, a 30-year fixed cash-out refi at rates as low as 2.5%. only pays 1.5

Mortgages 488

Mortgages Marketing Title Loans 488

Housing Wire

SEPTEMBER 22, 2022

Chicago-based Guaranteed Rate this week rolled out an expanded Language Access Program, which has applications and loan servicing in Spanish for consumers in all 50 states. Let’s take loan disclosures as a prime example. In 2021, Guaranteed Rate originated more than $116 billion in purchase loans and refinances.

Marketing 370

Marketing Loan Officer Loans Finance 370

Housing Wire

DECEMBER 12, 2024

The bond market moves 50 basis points on Monday, and now everything’s out of date. And when the market changes, I can just call now I have a reason to call the real estate agent. Our Recapture product monitors loans, does a deep analysis and then sends a presentation to the customer about options to save them money.

Loan Officer 370

Loan Officer Loans Technology Mortgages 370

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

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

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. About 19.4% from the Midwest, 16.8%

Mortgages 414

Mortgages Loan Officer Marketing Seller concession 414

Housing Wire

SEPTEMBER 30, 2021

Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Kansas City, Missouri. Become a member today. Already a member?

Marketing 370

Marketing Loan Officer Closing costs Inspection 370

Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. Every call I get, if they are first-time homebuyers, they ask, ‘Where can I get money for a down payment or closing costs?’”

FHA loan 476

FHA loan Loans Closing costs Loan Officer 476

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

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. Rates are rising.

Lending 369

Lending Marketing Pre-qualification Pre-approval 369

Housing Wire

FEBRUARY 19, 2021

5 tips for buying a home in a seller’s housing market. A homebuyer’s guide to a competitive housing market. Your lender is going to require an adequate home insurance policy before they’ll close on your loan. Many lenders will re-check your credit just before closing on your loan. Home insurance hiccups.

Loans 535

Loans Loan Officer Closing Closing costs 535

Housing Wire

NOVEMBER 9, 2023

housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Program providers are working around the clock to ensure the programs they offer meet the needs of their markets.

FHA loan 482

FHA loan VA loan Finance Loans 482

Housing Wire

MARCH 28, 2022

commercial spaces/building and residential homes/townhomes) and inconsistent transactional processes, fragmentation in the market has prevented real-estate from adopting technology as quickly as other sectors – until now. While each of these digital companies successfully addressed a problem in the market, other pain points still existed.

Marketing 397

Marketing Title Closing costs Technology 397

Housing Wire

OCTOBER 4, 2022

Users can also streamline cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE). This integration makes accurate fees available instantly from a sizable population of the title agent community,” Jim Paolino, the CEO of LodeStar, said in a statement. “As

Title 448

Title Loan Officer Closing costs Closing 448

Housing Wire

AUGUST 30, 2024

As an economist focused on the real estate market for years, I’m wary of ideas that sound too good to be true. For loans backed by Federal Housing Administration ( FHA ), it is a matter of law. This would lead to less favorable terms for buyers because they would face a higher loan-to-value ratio (LTV).

Finance 448

Finance Agents FHA loan Closing costs 448

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. The report cited FICO’s dominant market position, which covers more than 95% of securitizations, and the fact that its scores make up less than 0.2%

Investor 531

Investor Closing costs Mortgages Loans 531

Housing Wire

JANUARY 30, 2024

housing market has reached its least affordable point in decades and housing agencies have increasingly rolled out homebuyer assistance programs to tackle this issue. A total of 135 new homebuyer assistance programs were introduced in 2023, a 6% increase over the previous year.

Closing costs 518

Closing costs Mortgages Investor Loans 518

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. This includes property ownership checks, automated valuation models ( AVMs ), loan amount amortization and financial benefit calculations. ” .

Loan Officer 435

Loan Officer Loans Technology Closing costs 435

Housing Wire

MARCH 28, 2024

They asked the federal officials to “provide guidance to market participants that will ensure these new arrangements will continue to be supported by” FHA and GSE underwriting standards. Department of Veteran Affairs (VA) on Wednesday, urging it to revise policies that prohibit veterans from paying buyer broker commissions.

VA loan 476

VA loan Closing costs MLS Loans 476

Housing Wire

DECEMBER 18, 2023

In the seven-minute interview, Kasper addressed the commission lawsuits and the overall housing market , telling Evans that the projected decline in mortgage rates in 2024 is good news for the real estate industry. “We The interest rates rose so quickly that it took so many of them out of the market.

MLS 488

MLS Loans Closing costs Industrial 488

Housing Wire

AUGUST 17, 2022

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Seller concession 435

Seller concession Mortgages Fixed-rate mortgage Loans 435

Housing Wire

JANUARY 17, 2024

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. Consumers who are introduced to the HECM for Purchase loan option are often skeptical at best, with many thinking it’s too good to be true.

Finance 482

Finance Seller concession Loan Officer Loans 482

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

NOVEMBER 20, 2024

Mortgage , which has 330 sponsored loan officers across 39 active branches, expects that most credit bureaus will raise their prices as well. “By royalty per score accounts for a small portion—approximately 15%—of the cost of a tri-merge credit report and score bundle. per score—equating to $4.35 per borrower and $8.70

Mortgages 435

Mortgages Loan Officer Closing costs Loans 435

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. In fact, they could actually cost you more (often significantly more) if used incorrectly. Will we have a buyer’s housing market in 2021? USDA loans. How much house can you afford to buy?

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

Housing Wire

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? Since Fannie Mae implemented the program nearly a year ago, Evans said 2,000 loan applications became eligible for purchase which otherwise wouldn’t have before its inception.

Equity 448

Equity Lending Closing costs Development 448