Housing Wire

FEBRUARY 3, 2025

More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending. These companies are at the forefront of solving the biggest challenges mortgage professionals face every day.

Mortgages 413

Mortgages Title Lending Loans 413

Housing Wire

SEPTEMBER 17, 2024

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates. Our veterans deserve better.

Lending 435

Lending VA loan Loans Mortgages 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. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. REALITY: There is no limit.

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

APRIL 5, 2022

Rocket Pro TPO has launched a program that will guarantee financing to close in 15 days, a move to entice mortgage brokers and their real estate agent partners in a scorching-hot housing market. Government, FHA, and VA loans do not apply and the program is not available in 16 states, including New York, Massachusetts, and Rhode Island.

Closing 397

Closing Loans VA loan Mortgages 397

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 397

Lending Industrial Mortgages Loans 397

Housing Wire

MARCH 29, 2022

At first blush, this may seem like overkill; does a lender really gain anything by harnessing all that extra data for a VA loan that only requires two months of bank statements? Consider, for instance, the multitude of scenarios that require lenders to take another look at assets between loan qualification and loan closing.

Lending 369

Lending Earnest money deposit VA loan Loans 369

Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan 418

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

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. 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 loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

AUGUST 7, 2023

The financial incentives are simply not there for mortgage companies that want to do more minority lending; therefore, it shouldn’t be a surprise that most banks and mortgage lenders do just enough minority lending to stay out of regulatory trouble but secretly have no desire to do much beyond that.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

MARCH 29, 2024

The response rate by mortgage companies to consumer complaints stands at 99%, according to the bureau, and relevant companies “closed 92% of complaints with an explanation, 2% with monetary relief, and 3% with non-monetary relief,” the report stated. As of March 1, 2024, less than 0.1% were pending with the bureau. The penalties totaled $1.7

Mortgages 450

Mortgages VA loan FHA loan Lending 450

Housing Wire

MAY 2, 2024

7 loan officer in the country last year with a mortgage production volume of $326.5 His portfolio is concentrated on purchase loans (98% of the total volume in 2023) for first-time homebuyers. Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said.

Loan Officer 448

Loan Officer Mortgages VA loan Lending 448

Housing Wire

JUNE 13, 2024

This was especially true for the Federal Housing Administration (FHA) lending segment. Conventional loans comprised 63.4% Department of Veterans Affairs (VA) loans accounting for 9.8% Department of Agriculture (USDA) loans at 0.3%. of all applications, with U.S. year over year , federal data shows.

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

MAY 10, 2024

A prospective buyer would still need to come up with $120,000 to close the gap. Roam now services 35% of homes with FHA and VA loans in the U.S., The investors included Tony Xu, chief executive of DoorDash ; Dylan Field, CEO of Figma ; and Paul Gu, co-founder of lending platform Upstart , among others.

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Can you connect those dots for me? Ed Gerding: Sure.

Lending 444

Lending VA loan Banks Investor 444

Housing Wire

FEBRUARY 10, 2025

These younger servicemen and women often face difficulties navigating the homebuying process, particularly around paying closing costs. Its important to take a moment to look back at the history behind VA benefits. Its important to take a moment to look back at the history behind VA benefits. In 1944, the U.S.

Industrial 201

Industrial VA loan Lending Loans 201

Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. However, that’s not always the case.

VA loan 322

VA loan FHA loan Mortgages Lending 322

Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered.

Agents 532

Agents Seller concession VA loan Finance 532

Housing Wire

JANUARY 26, 2022

Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans. Building the next generation of tech: Three ways to digitize home lending. Refinancing is also not an option.

Mortgages 370

Mortgages Pre-approval VA loan Lending 370

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. Currently, all VA appraisals must be performed in-house. VA home loans have given millions of veterans and their families the opportunity to purchase a home.

VA loan 418

VA loan Loans Lending Finance 418

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. Both VA and USDA loans require zero down payment. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements. USDA loans, on the other hand, are options for rural homebuyers.

VA loan 418

VA loan FHA loan Loans Banks 418

Housing Wire

NOVEMBER 4, 2020

Investment purchases had a 74% increase in risk despite lower volumes and tighter lending guidelines, reflecting a new high in the history of CoreLogic’s index. VA-based programs had the lowest-risk applications, CoreLogic found. This makes identity issues and straw buyer situations rare,” she said.

Mortgages 448

Mortgages VA loan Loans Lending 448

Real Trends

DECEMBER 14, 2022

For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. Agents shouldn’t hesitate to ask questions and seek guidance in the world of VA loans.

VA loan 107

VA loan Loans Lending Loan Officer 107

Housing Wire

FEBRUARY 7, 2023

Servicers can only charge up to $900 to process, underwrite and close a transaction that includes a loan assumption. By the Mortgage Bankers Association ’s estimate, it takes on average about $2,500 to process, underwrite and close a government loan. Tozer suggested “a fee of 1.3%

FHA loan 397

FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

DECEMBER 4, 2024

Still, further deterioration could pose challenges for some investors and servicers and will warrant close attention, according to industry experts. Walsh said that there’s a “big question mark” related to FHA loans, which recorded a 10.46% delinquency rate in Q3 2024, up from 9.5% in the same period last year.

VA loan 305

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

Housing Wire

NOVEMBER 7, 2023

And when lenders — not headlines — explain cash-to-close and monthly all-in costs relative to incomes, the lights go on for borrowers. mortgage delinquencies — which include conventional, FHA and VA loans — are still near record lows of 3.37% per the MBA. I think so because total U.S.

Debt-to-income ratio 435

Debt-to-income ratio Mortgages VA loan Loans 435

Housing Wire

APRIL 4, 2022

Meanwhile, borrowers with FHA and VA loans often fall to the bottom of the application stack because there is a belief that these loans are more complicated , more onerous for sellers, and less likely to close.

FHA loan 370

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

Realty Biz

APRIL 4, 2023

The US Department of Veterans Affairs offers all kinds of help to US military veterans, but one of the most helpful is certainly how vets looking to purchase a property can rely on the VA’s loan program to access highly affordable mortgage lending at attractive rates. What Are VA Loans?

Lending 81

Lending VA loan Mortgages Principal 81

RIS Media

MAY 19, 2021

May vary widely between lenders and are not dependent on the cost of the loan. Items to Be Paid at Close of Escrow. – Prepaid interests, homeowners insurance, VA funding fee, up-front mortgage insurance premium (UFMIP), mortgage insurance. VA funding fees and UFMIP are typically wrapped into the full loan balance.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

Calculated Risk Real Estate

MARCH 14, 2025

This entire housing cycle I’ve argued that we would NOT see a surge in foreclosures that would significantly impact house prices (as happened following the housing bubble) for two key reasons: 1) mortgage lending has been solid, and 2) most homeowners have substantial equity in their homes.

Equity 93

Equity Real-estate owned VA loan Residential 93

HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021.

Closing 116

Closing Purchase and sale agreement Pre-approval Inspection 116

HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? Your closing costs may differ depending on your circumstances and the terms of your home purchase. Massachusetts closing costs for homebuyers tend to run approximately 2.5% What are closing costs?

Closing costs 104

Closing costs Closing Purchase and sale agreement Title search 104

AAOA

JANUARY 27, 2025

Morgan Chase Commercial Term Lending, Successful real estate investing isnt just about choosing the best property; its also about securing the best possible interest rate and managing cash flow. Make an offer and close Your real estate agent will submit your offer and negotiate with the seller or their agent.

Property Management 80

Property Management Due diligence Finance VA loan 80

HomeLight

DECEMBER 28, 2023

However, the person assuming the loan must meet the FHA’s lending criteria. VA loans: Available to veterans and military service members, VA loans are also assumable. The new borrower must meet VA and lender requirements, but you don’t necessarily need to be a veteran to assume a VA loan.

Loans 119

Loans Purchase and sale agreement VA loan Mortgages 119

Rent, Buy & Sell

FEBRUARY 7, 2021

As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. Though it’s called an FHA loan, the FHA (Federal Housing Association) doesn’t actually fund the loan. Private or Hard Money Loan.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Easy Agent Pro

SEPTEMBER 24, 2020

Sell military homebuyers on the advantages of the VA loan. The lack of a down payment requirement is probably the VA loan’s most attractive feature. FHA calls their PMI, MIP, for Mortgage Insurance Premium and it will stay with them for the life of the loan if your clients get an FHA-backed loan.

VA loan 94

VA loan Loans Agents Closing costs 94

Calculated Risk Real Estate

FEBRUARY 6, 2024

• Foreclosure starts decreased -17.9% in December to 24K, equal to 5.2% • Foreclosure starts decreased -17.9% in December to 24K, equal to 5.2% • Foreclosure starts decreased -17.9% in December to 24K, equal to 5.2%

Mortgages 122

Mortgages Marketing Lending VA loan 122

HomeLight

NOVEMBER 20, 2023

Along with the obvious advantage of a lower interest rate, an assumed loan can also come with fewer transaction fees and greater speed. Instead of securing a new mortgage with higher rates, a buyer can assume the home seller’s existing interest rate, principal balance, repayment period, and other terms of the lending agreement. “A

FHA loan 115

FHA loan Mortgages VA loan Loans 115