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

SEPTEMBER 9, 2024

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. “They can add up to several percentage points of the total mortgage amount. At least when it comes to redundancies with refinancings, that is.

Mortgages 476

Mortgages Closing costs Title Technology 476

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.

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

SEPTEMBER 16, 2020

A well-qualified buyer these days can find a mortgage at historically low interest rates. But that’s not good enough for United Wholesale Mortgage CEO Mat Ishbia. So if the numbers work for them and they want the lowest rate , they can do that and the mortgage brokers can figure out what works for them and get that deal for them.

Mortgages 488

Mortgages Marketing Title Loans 488

Housing Wire

DECEMBER 9, 2024

After a year filled with rate swings, unpredictable markets and a bit of drama (thank you, inflation), the real estate world is ready for a fresh start. Whether youre looking to buy your first home, upgrade or simply gain clarity on the current market , this guide is your insiders playbook to tackle 2025 with confidence.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

Mortgages 414

Mortgages Loan Officer Marketing Seller concession 414

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. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.

Mortgages 441

Mortgages Closing costs Equity Construction 441

Housing Wire

APRIL 12, 2024

After heating up like the rest of the country, the Louisiana housing market has continued to cool since interest rates began to rise in the second half of 2022. Across the state, agents feel these rising insurance costs on top of higher mortgage rates and list prices. as of April 5, 2024 — down from 37.21

Debt-to-income ratio 459

Debt-to-income ratio Marketing Closing costs Agents 459

Housing Wire

JANUARY 11, 2024

Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Fixed-rate mortgage 459

Fixed-rate mortgage Mortgages Closing costs MLS 459

Housing Wire

FEBRUARY 12, 2024

Where should mortgage rates be before I buy or refinance my home? These are just a few of the questions independent mortgage brokers get asked on a daily basis. 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

MARCH 21, 2024

(FICO), the company that retains the rights to the mortgage market’s adopted methodology to measure consumer credit risk. Julie May, vice president and general manager of B2B Scores at FICO, said that in the mortgage space, the company charges “$3.50 A tier-based structure of $0.60 per score was implemented in 2022.

Mortgages 476

Mortgages Purchase and sale agreement Closing costs Investor 476

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. 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. USDA loans.

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. The CHLA said the employment verification market lacks competition.

Closing costs 482

Closing costs Loans Title Finance 482

Housing Wire

JULY 2, 2024

After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments. Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% This is according to data compiled by Reverse Market Insight (RMI). Finance of America (FOA) added 4.1%

Mortgages 432

Mortgages Equity Loans Loan Officer 432

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

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. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

NOVEMBER 20, 2024

Executives at mortgage lenders anticipate a minimum 20% increase in credit reporting costs in 2025 compared to 2024. And the soaring costs will hit as lenders try to dig out from multiple years of financial losses and mass layoffs. In early November, Fair Isaac Corp. per score—equating to $4.35 per borrower and $8.70

Mortgages 435

Mortgages Loan Officer Closing costs Loans 435

Housing Wire

DECEMBER 22, 2020

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. Are you planning to buy a home in 2021?

Fixed-rate mortgage 448

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 448

Housing Wire

DECEMBER 1, 2023

Mortgage originators will pay more to access consumer credit reports in 2024, reigniting complaints from mortgage lenders and trade associations. Compared to 2022, mortgage lenders in 2023 saw a price increase between 10% and 400% , mortgage trade groups and other stakeholders said. In 2024, Fair Isaac Corp.

Mortgages 482

Mortgages Pre-approval Closing costs Lending 482

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. The average interest rate on a 30-year-fixed mortgage was 7.07% in August.

Purchase and sale agreement 448

Purchase and sale agreement Mortgages Closing costs Sales 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

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

JULY 12, 2022

California-based Pennymac launched a product that can freeze mortgage rates as many as 90 days, in a bid to attract more borrowers to the market amid volatile rates. Pennymac is the latest mortgage lender to freeze rates for borrowers. The product does not require a property address to guarantee a mortgage rate.

Mortgages 397

Mortgages Pre-approval Loans Closing costs 397

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. These are clients with great income, credit scores and who are very creditworthy,” Bob Walters, CEO of Rocket Mortgage, said in a statement.

Loans 418

Loans Mortgages Land Finance 418

Housing Wire

APRIL 27, 2023

Mortgage rates are trending up ahead of the Federal Reserve’s meeting next week, with the FOMC expected to increase the federal funds rate. Khater added: “Incoming data suggest the housing market has stabilized from a sales and house price perspective. Per the Commerce Department ‘s data, the U.S. economy grew at a 1.1%

Mortgages 397

Mortgages Fixed-rate mortgage Loans Closing costs 397

Housing Wire

SEPTEMBER 22, 2022

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. A Spanish website and mortgage applications tool to help Hispanics overcome language barriers went live this week by CrossCountry Mortgage. billion in loans.

Marketing 370

Marketing Loan Officer Loans Finance 370

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. Other lenders that have introduced DPA programs or DPA-oriented programs of late include Rocket Mortgage , United Wholesale Mortgage , Guild Mortgage and Guaranteed Rate.

Closing costs 518

Closing costs Mortgages Investor Loans 518

Housing Wire

AUGUST 19, 2024

The state of Montana has been more heavily promoting its state-based Reverse Annuity Mortgage (RAM) program for seniors. She sat down with HousingWire ’s Reverse Mortgage Daily (RMD) to offer more details about the push and the unique elements of the RAM program.

Mortgages 431

Mortgages Loans Equity Principal 431

Housing Wire

JANUARY 29, 2021

Last year, buyer demand increased due to record low mortgage rates. That said, because of those low mortgage rates, and fewer houses on the market, home prices went up. To put it simply, the last half of 2020 was a seller’s market. They make monthly mortgages more affordable! The costs add up quickly.

Closing costs 482

Closing costs Mortgages Closing Marketing 482

Housing Wire

NOVEMBER 16, 2022

United Wholesale Mortgage (UWM) this week expanded its temporary rate buydown offerings amid higher interest rates and fierce competition. Borrowers with temporary buydowns pay a lower mortgage rate during the first, second and third years of their loans. How to stay competitive with specialty mortgage products heading into 2023.

Seller concession 397

Seller concession Mortgages Fixed-rate mortgage Loans 397

Housing Wire

AUGUST 12, 2024

Piggyback mortgages — those involving a first and second lien at origination — are on the rise among first-time and low- to moderate-income borrowers who face affordability challenges. Piggybacks are a type of home equity loan taken out as a separate , additional loan from the borrower’s first mortgage.

Loans 476

Loans FHA loan Equity Closing costs 476

Housing Wire

DECEMBER 1, 2022

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. In the New York and San Francisco districts, potential homebuyers opted to rent instead of purchasing due to elevated prices and higher mortgage rates. trillion from $2.34

Marketing 370

Marketing Residential Construction Sales 370

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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

MARCH 7, 2024

Biden will also call for “lower homebuying and refinancing closing costs and crack down on corporate actions that rip off renters,” according to the White House announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% The NHC lauded the development. It is also wary of some of the proposals.

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Overall, annual mortgage origination levels are expected to be $2.8

Marketing 418

Marketing Residential Construction Mortgages 418

Housing Wire

MARCH 22, 2023

It also allows qualifying veterans to get into the housing market with no down payments, limited closing costs, and no monthly mortgage insurance costs. The new rate will apply to NADL loans closed on or after March 13, which will lock in the 2.5% interest rate for the life of the loan.

VA loan 418

VA loan Mortgages Land Loans 418