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 306

Closing costs Closing Title Land 306

Housing Wire

NOVEMBER 11, 2024

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. But the forecast for refinance demand is changing as mortgage rates have skyrocketed in the past six weeks.

Closing costs 265

Closing costs Loans Closing VA loan 265

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 497

Mortgages Closing costs Finance Loans 497

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

AUGUST 5, 2020

Last week, we published a story about United Wholesale Mortgage (UWM) offering 15-year fixed mortgage rates as low as 1.875% for purchases and refinances. For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. For those who want zero closing costs, it may not be worth it.

Mortgages 528

Mortgages Loan Officer Lending Loans 528

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 436

Mortgages Closing costs Title Technology 436

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

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% Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. A Mortgage Agency. So, whats your game plan?

Mortgages 318

Mortgages FHA loan Closing costs Staging 318

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 404

Fixed-rate mortgage Mortgages Closing costs MLS 404

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 417

Mortgages Finance Closing costs Loans 417

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 409

Loan Officer Mortgages Loans Closing costs 409

Housing Wire

JANUARY 20, 2021

And not just research on the best down payment or neighborhood to live in – you should also search the right mortgage lender. . The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. The good news, it’s easy to find a mortgage lender. Buying a home?

Debt-to-income ratio 453

Debt-to-income ratio Pre-approval Mortgages Loans 453

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 460

VA loan Loans Mortgages Lending 460

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. Staying nimble in a fast-paced market with the right mortgage technology. primary home purchases. .

Seller concession 435

Seller concession Mortgages Fixed-rate mortgage Loans 435

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 429

Mortgages Loans Closing costs Industrial 429

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 481

Mortgages Pre-approval Closing costs Lending 481

Housing Wire

OCTOBER 31, 2024

In the halls of the Colorado Convention Center on Monday, it was hard not to overhear mortgage bankers gnashing their teeth over the rumored price hikes for Fair Isaac Corp (FICO) scores. per score to all mortgage lenders, independent of their volume. Wall Street expects new cost increases in 2025 and 2026. What will it cost?

Industrial 401

Industrial Mortgages Closing costs Lending 401

Housing Wire

JANUARY 2, 2023

Rocket Mortgage is providing up to $7,500 in credits for first time homebuyers to use toward their mortgage costs as it looks to court customers in underserved communities in select major cities. Rocket has been focusing on garnering more users for its platform in the hopes to get them to lock in mortgages when buying homes.

Mortgages 358

Mortgages Closing costs Closing As-is 358

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 345

Mortgages Closing costs Equity Construction 345

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 416

Mortgages Seller concession Fixed-rate mortgage Loans 416

Housing Wire

MAY 10, 2024

Ron DeSantis (R) signed a bill into law this week that changes certain requirements for the state’s reverse mortgage borrowers, a move that the National Reverse Mortgage Lenders Association (NRMLA) says could save money on closing costs.

Principal 380

Principal Mortgages Closing costs Closing 380

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 Changes in credit report costs may result in lawsuits against the company.

Mortgages 431

Mortgages Purchase and sale agreement Closing costs Investor 431

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 379

Mortgages Loan Officer Closing costs Loans 379

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 trade group urged the regulators to examine Equifax’s pricing practices.

Closing costs 432

Closing costs Loans Title Finance 432

Housing Wire

MAY 20, 2024

This may lead an older homeowner to consider a product like a reverse mortgage, but potential borrowers should be aware of the product’s details and the informational resources they can access. She said that reverse mortgages can be expensive, which is why the product should be considered in concert with other options.

Mortgages 365

Mortgages Equity Loans Closing costs 365

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 439

Closing costs Development Equity Closing 439

Housing Wire

JULY 5, 2023

District Court for the Western District of Texas by a group of current and former staffers from the company’s bilingual mortgage sales team alleging race-based discrimination. billion fine in December over an array of violations, including mortgage lending, did not immediately respond to a request for comment.

Mortgages 341

Mortgages Closing costs Lending Closing 341

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 422

Purchase and sale agreement Mortgages Closing costs Sales 422

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 390

Loans Mortgages Land Finance 390

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 530

Construction Closing costs Renovation Title 530

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

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 390

Seller concession Mortgages Fixed-rate mortgage Loans 390

Housing Wire

AUGUST 13, 2024

The letter was in response to the CFPB’s request for information on residential mortgage fees, which the Bureau issued in late May. This request was in addition to the CFPB’s consideration of a ban on mortgage banks charging homebuyers for the lender’s title insurance policy. of the borrower’s total life-of-loan costs combined.”

Title 370

Title Mortgages Land Closing costs 370

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. They make monthly mortgages more affordable! As interest rates dropped, homeowners took advantage and refinanced their mortgages at lower rates.

Closing costs 482

Closing costs Mortgages Closing Marketing 482

Housing Wire

JUNE 10, 2021

Here are four potentially unexpected costs you should be aware of: More for Real Estate Enthusiasts. 5 reasons to refinance your mortgage right now. Staging Costs. A concession is when the seller agrees to pay part of a buyer’s closing costs. Sellers also have to pay closing costs. Bottom Line.

Seller concession 545

Seller concession Staging Closing costs Inspection 545

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. Non-qualified mortgage (non-QM) wholesale lender A&D Mortgage , however, saw origination volume increase by more than 31% to $3.2 bps toward closing costs at the time of the closing. “We

Mortgages 408

Mortgages Loans Investor Banks 408