Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Often, traditional mortgage products don’t meet their needs.

Debt-to-income ratio 459

Debt-to-income ratio Mortgages Banks Equity 459

Housing Wire

MAY 24, 2024

In fact, according to a recent study, millennials currently struggle with so much debt that 25% worry they won’t qualify for a mortgage. Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans.

Debt-to-income ratio 468

Debt-to-income ratio Loans Pre-approval VA loan 468

Housing Wire

MARCH 25, 2021

What it really comes down to is whether or not you feel comfortable paying a mortgage (and all the other fun expenses that come with having a home), while also paying off student loans. Here’s what to expect in the mortgage application process. 3 underrated mortgage products to consider. Your Debt-To-Income Ratio Is High.

Debt-to-income ratio 511

Debt-to-income ratio Loans FHA loan Finance 511

Housing Wire

DECEMBER 13, 2024

Mortgage application and origination activity dropped by roughly one-third from 2022 to 2023 as high interest rates depressed broader industry activity. That’s according to Home Mortgage Disclosure Act (HMDA) data published by the Consumer Financial Protection Bureau (CFPB) in a report released Friday.

Debt-to-income ratio 370

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 370

Housing Wire

AUGUST 8, 2024

Incomes, wealth, life events, mortgage rates all play a role in determining housing demand, while on the supply side we have land costs, government regulations in terms of zoning rules, geographic constraints to building and builder financing costs,” Divounguy added. “Now As these business practice changes begin Aug.

Debt-to-income ratio 488

Debt-to-income ratio Marketing Mortgages Days on market 488

Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The company explained that the product operates as a ”hybrid between debt and equity.” home equity by the end of this year.

Equity 459

Equity Loans Debt-to-income ratio Renovation 459

Housing Wire

NOVEMBER 7, 2023

And how should mortgage firms rethink tech strategy? Below I run down these hot topics and look forward to going deeper with fellow mortgage CEOs on a HousingWire webinar December 5. What’s next for the inflation fight and mortgage rates? trillion per Urban Institute , and total mortgages outstanding are $13.9

Debt-to-income ratio 435

Debt-to-income ratio Mortgages VA loan Loans 435

Housing Wire

APRIL 7, 2021

In fact, depending on where you live, your monthly rent could be more expensive than your monthly mortgage. 3 underrated mortgage products to consider. A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Not to mention, expensive. Yes, seriously.). You Have Savings.

Debt-to-income ratio 476

Debt-to-income ratio Fixed-rate mortgage Finance Loans 476

Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept.

Debt-to-income ratio 545

Debt-to-income ratio Finance Mortgages Industrial 545

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. In January, ICE’s conforming 30-year fixed mortgage rate lock index showed rates averaging 6.6%.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 370

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Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

MAY 3, 2023

In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates. The Fed’s move on Wednesday was well anticipated and should not cause a major shift in mortgage and other interest rates, experts noted.

Mortgages 448

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 448

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. Rocket Mortgage began offering the recently revamped BorrowSmart Access program in March.

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

SEPTEMBER 11, 2023

Founded in 2022 by Eric Meadow, Home Sale Assured produces a “Guaranteed Backup” options contract, which enables existing homeowners to buy their next home before closing the sale of their current home. Meadow has 25 years of mortgage industry experience. The consumer has 90 days to then close of the sale of their prior home.

Debt-to-income ratio 435

Debt-to-income ratio Purchase and sale agreement Sales Loans 435

Housing Wire

NOVEMBER 12, 2020

Not only does a prime credit score improve your chances of getting approved for a mortgage, but it also helps you secure a lower interest rate, too — and that means a more affordable loan on the whole. If you spot any of these issues, you’ll want to rectify them before applying for your mortgage. Avoid new debt.

Debt-to-income ratio 508

Debt-to-income ratio Banks Loans Mortgages 508

Keeping Current Matters

DECEMBER 21, 2020

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Below is a list of things you shouldn’t do after applying for a mortgage. New debt comes with new monthly obligations. People with new debt have higher debt-to-income ratios.

Debt-to-income ratio 338

Debt-to-income ratio Mortgages Loan Officer Banks 338

Housing Wire

MARCH 14, 2023

Latinos who purchased a home with a mortgage in 2021 were under the age of 45, compared to 63.9% of non-Hispanic White buyers, according to data from the Home Mortgage Disclosure Act (HMDA). About 33% of Latinos aged 45 and under have the credit characteristics to qualify for a mortgage. of the general population, and 61.5%

Debt-to-income ratio 418

Debt-to-income ratio Mortgages Closing costs Equity 418

Housing Wire

MARCH 16, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications. No mortgage insurance will be required. The product is available for loans up to $3 million and up to 90% loan to value.

Banks 397

Banks Loans Debt-to-income ratio Lending 397

Housing Wire

NOVEMBER 2, 2023

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange. 30, 2021, Richards resigned from her position at loanDepot.

Debt-to-income ratio 435

Debt-to-income ratio Loans Mortgages Technology 435

Housing Wire

AUGUST 26, 2024

When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio. trillion once the Flagstar deal closes. Mr. Cooper estimates it will hold about $132 billion in mortgages at 6% or higher once the acquisition is finalized.

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

Housing Wire

JUNE 4, 2021

For instance, whether or not you get approved for a mortgage is based on your credit score. First-time homebuyers have mortgage options available that don’t require a high down payment. To determine what kind of house you can afford, you need to analyze your debt-to-income ratio (DTI). with an FHA loan. each month?

Debt-to-income ratio 476

Debt-to-income ratio FHA loan Loans Land 476

Housing Wire

MARCH 30, 2021

They can go online and understand their FICO score, but mortgage credit scores are different. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for. “Consumers have access to credit scores, more than ever,” Hydrew said.

Pre-qualification 468

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 468

Housing Wire

APRIL 12, 2024

While the slowdown has resulted in a return to pre-pandemic levels of market activity, real estate agents across the state believe that an issue far greater than 7% mortgage rates may cause the housing market to slow further. “We Across the state, agents feel these rising insurance costs on top of higher mortgage rates and list prices.

Debt-to-income ratio 459

Debt-to-income ratio Marketing Closing costs Agents 459

Housing Wire

FEBRUARY 1, 2022

billion note offering through its Connecticut Avenue Securities real estate mortgage investment conduit, or REMIC. . billion note offering backed by a reference pool of 149,393 residential mortgage loans valued at $44.3 trillion in single-family mortgage loans, measured at the time of the transaction.

Debt-to-income ratio 370

Debt-to-income ratio Investor Loans Principal 370

Housing Wire

JUNE 29, 2022

As market volume dips and pent-up demand builds, 61% of millennials and Gen Zs who intend to buy a home plan to apply for a mortgage this year. As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies.

Debt-to-income ratio 459

Debt-to-income ratio Loan Officer Loans Mortgages 459

Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Riches in the niches. trillion in 2022.

Debt-to-income ratio 434

Debt-to-income ratio Lending Loans Loan Officer 434

Housing Wire

AUGUST 22, 2024

Let’s address these concerns: First, Steve’s argument presupposes buyers, especially those at the lower end of the income spectrum, can easily finance agent commissions through their mortgage. Commissions, often considered a “soft cost,” cannot be easily integrated into a mortgage.

Debt-to-income ratio 353

Debt-to-income ratio Finance Mortgages Banks 353

Housing Wire

DECEMBER 4, 2024

After hitting a historic low point in 2023, mortgage delinquency rates have been climbing rapidly in recent quarters, particularly within the Federal Housing Administration (FHA) portfolio. Still, further deterioration could pose challenges for some investors and servicers and will warrant close attention, according to industry experts.

VA loan 305

VA loan Mortgages Debt-to-income ratio FHA loan 305

Housing Wire

APRIL 4, 2022

The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. “I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said.

Debt-to-income ratio 459

Debt-to-income ratio Loans Banks Loan Officer 459

Housing Wire

MAY 14, 2021

A good credit score increases the likelihood of qualifying for a mortgage because it indicates to the lender that you’re more likely to make timely payments on your loan. By taking on large amounts of debt just before they apply for a mortgage loan, Ulzheimer said, a home loan applicant may affect how a lender evaluates their application.

Debt-to-income ratio 459

Debt-to-income ratio Loans Mortgages Lending 459

Housing Wire

AUGUST 23, 2023

According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. Better wants to sell this platform to other companies, becoming a “mortgage-as-a-service” company or a white-label provider of mortgage tech, Garg said. ” And what is Better.com best at?

Debt-to-income ratio 370

Debt-to-income ratio Technology Mortgages Pre-approval 370

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 418

VA loan Agents Pre-approval Debt-to-income ratio 418

Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HW: Why should mortgage companies pay attention to what’s going on in home insurance? Two key trends have emerged in this landscape.

Marketing 370

Marketing Debt-to-income ratio Mortgages Loan Officer 370

Marco Santarelli

MARCH 4, 2025

Today's mortgage rates on March 4, 2025, show a slight decrease, particularly in the 30-year fixed mortgage rate, which sits at an average of 6.26%. However, mortgage rates have dropped nearly 30 basis points from their February average and plunged last week amid market fears of an economic slowdown. mortgage rates.

Mortgages 95

Mortgages Debt-to-income ratio VA loan FHA loan 95

Housing Wire

MARCH 20, 2024

Many buyers struggled with the financial burden of covering closing costs , making it difficult or impossible to also cover the compensation for agent representation. Many are already shouldering the burdens of high debt-to-income ratios, mortgage insurance premiums, and elevated interest rates to secure a foothold in homeownership.

Debt-to-income ratio 497

Debt-to-income ratio Agents Equity Closing costs 497