Housing Wire

JUNE 17, 2024

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees.

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Closing costs Closing VA loan Banks 482

Housing Wire

FEBRUARY 11, 2022

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB). . The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated.

VA loan 397

VA loan Loans Lending Finance 397

Housing Wire

NOVEMBER 20, 2020

Ellie Mae ’s Origination Insight report for October demonstrates some of the side effects of the historically low mortgage rates we’ve seen in 2020: incredibly high volume and an increase in time-to-close. The 30-year conventional dropped from 3.02% to 3.01%, and VA fell from 2.78% to 2.75%. over September, per Ellie Mae.

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Closing FHA loan Mortgages VA loan 468

Housing Wire

MAY 26, 2021

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The percentage of purchase mortgages increased to 43% of total closed loans.

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Closing Mortgages VA loan FHA loan 476

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.

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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 3, 2025

Company Name Company Website Markets Served Company HQ MMI mmi.io/ Loan Origination Cottonwood Heights, UT Paradatec paradatec.com/ Loan Origination, Servicing, Secondary and Closing Wilmington, DE Outamation outamation.com/ Servicing Southlake, TX Orion Lending orionlending.com/ Loan Origination Orange, CA Optimal Blue www2.optimalblue.com/

Mortgages 417

Mortgages Title Lending Loans 417

Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

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Debt-to-income ratio Agents VA loan MLS 321

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.

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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%

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VA loan Agents Seller concession FHA loan 482

Housing Wire

NOVEMBER 10, 2023

FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In September, government-insured FHA loans represented a little over 15% of U.S. Meanwhile, military VA loans represented 6.3% in April 2023. a year earlier.

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FHA loan VA loan Mortgages Loans 468

Housing Wire

NOVEMBER 16, 2020

The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. The exact cost of this varies based on your loan balance and down payment. VA loans are mortgage loans that are guaranteed by the Department of Veterans Affairs.

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VA loan FHA loan Mortgages Loans 501

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

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VA loan Loans Principal Mortgages 476

Housing Wire

OCTOBER 25, 2024

Department of Veterans Affairs (VA) would be disadvantaged. Previously, under VA policy, although a veteran was allowed to use a buyer broker to purchase a home using their VA loan benefit, they could “not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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VA loan Purchase and sale agreement Loans Agents 448

Housing Wire

MAY 25, 2022

The Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who apply for a joint loan. The VA did not immediately respond to requests for comment.

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Pre-approval Loans VA loan Land 459

Housing Wire

AUGUST 7, 2023

Fannie Mae and Freddie Mac have had affordable lending goals for years, but the impact of closing the minority homeownership gap has not been that significant. Borrowers with high loan-to-value ratios and lower credit scores are required to pay higher rates and fees for mortgages.

Closing 370

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

Housing Wire

MARCH 29, 2022

Origination volume in the Veterans Affairs (VA) universe amounted to $388 billion in 2021, an analysis of Home Mortgage Disclosure Act (HMDA) data by Polygon Research application HMDAVision found. This marks a notable dip in originations from 2020, a record-breaking year in which VA lenders pumped out approximately $427 billion in VA loans.

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VA loan FHA loan Loans Banks 370

Housing Wire

FEBRUARY 6, 2024

The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. Fannie Mae and Freddie Mac loans, which represent nearly two-thirds of the mortgage market, cannot be assumed.

Mortgages 482

Mortgages VA loan Loans Closing 482

Housing Wire

OCTOBER 12, 2023

While conforming loans still made up the majority of production at 57% in September, conforming volumes trended well below pandemic levels, according to the report. FHA and VA loan production both gained in activity share to 20.6% Rates for FHA loans averaged 7.18%, VA loans were 7% and jumbo loans were 7.6%.

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VA loan Mortgages FHA loan Loans 471

Housing Wire

MARCH 22, 2023

Today’s buyers are also able to save money in other ways: Nearly half of sellers are offering concessions, like helping pay for a mortgage-rate buydown or covering closing costs, to attract buyers.” The less competitive market has also resulted in more buyers using FHA and VA loans. a year prior. of all mortgaged home sales.

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VA loan FHA loan Loans Mortgages 435

Housing Wire

DECEMBER 13, 2023

The UWM’s discounted rates apply to the FHA Streamline program, which offers a simplified refinance process with reduced documentation requirements on Federal Housing Administration (FHA) loans. ” Top wholesale lenders have launched new initiatives to boost production at the end of 2023.

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Loans VA loan FHA loan Mortgages 487

Housing Wire

MARCH 1, 2021

Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan. You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks.

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

Housing Wire

MAY 17, 2024

On a more granular level, Sioux Falls topped the list for affordability among the top 10 metros, followed closely by Wichita Falls. Department of Veterans Affairs (VA), Texas led the nation with 10,237 VA loans originated in second quarter of 2024. In terms of safety, Rochester ranked first.

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VA loan Loans Mortgages Closing 468

Housing Wire

JANUARY 9, 2025

Williams: By the numbers Farm area: Virginia Beach Deals closed in year one: 2 Deals closed in year two: 24 Number of agents on his team: 15 Number of social media followers: 26,000 Favorite real estate software: kvCORE Favorite script: LPMAMA Embrace the cringe Think youre going to become an overnight sensation on Instagram?

Closing 370

Closing VA loan Agents Loans 370

Housing Wire

JANUARY 3, 2024

The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, according to Joel Kan, MBA’s vice president and deputy chief economist. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% Mortgage applications decreased 9.4% compared to 0.4%

Mortgages 473

Mortgages VA loan FHA loan Loans 473

Housing Wire

DECEMBER 21, 2023

While delinquencies remain low overall, the number of delinquent loans ticked up in November, according to the latest ICE Mortgage Monitor report. Furthermore, the delinquency rate among FHA loans is at a nine-year high, and will be worth watching closely in 2024, the report said. Foreclosure starts decreased by 12.2%

Mortgages 459

Mortgages VA loan FHA loan Staging 459

Housing Wire

SEPTEMBER 17, 2024

These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates. Patton Gade, National Director of Military Lending at UMortgage and 2023 Scotsman Guide #1 VA Loan Originator, says, “we can do better. Veterans need an advocate, and that’s exactly what we are.”

Lending 435

Lending VA loan Loans Mortgages 435

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 program is separate from the broader VA loan program that is available to all veterans. interest rate for the life of the loan.

VA loan 418

VA loan Mortgages Land Loans 418

Housing Wire

MAY 8, 2023

Assuming a VA loan I have nothing but the utmost respect for everyone serving in the military. Veterans Affairs (VA) mortgage loans can be an excellent product for veterans. VA loans can be assumed by anyone, and the new borrower assumes those benefits. You do not have to be a veteran to assume a VA loan.

VA loan 418

VA loan Mortgages Marketing Loans 418

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.

Mortgages 457

Mortgages VA loan FHA loan Lending 457

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.

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Agents Seller concession VA loan Finance 532

Housing Wire

DECEMBER 8, 2021

Regarding the purchase market, Kan said mortgage applications fell after four consecutive increases, but activity is still close to the highest level since March, a positive sign. VA loans comprised 10.7%, increasing seven basis points. Meanwhile, FHA loans went from 8.9% Refinance apps fell 36.5% in the same period.

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FHA loan Mortgages VA loan Fixed-rate mortgage 468

Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs.

VA loan 476

VA loan Closing costs MLS Loans 476

Housing Wire

JUNE 13, 2024

Conventional loans comprised 63.4% Department of Veterans Affairs (VA) loans accounting for 9.8% Department of Agriculture (USDA) loans at 0.3%. The average loan size last month across all types of new-home applications was $400,150, down from $405,000 in April. of all applications, with U.S.

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

AUGUST 15, 2024

On an annualized basis, late-payment rates increased 35 bps for conventional loans, 165 bps for Federal Housing Administration (FHA) loans and 93 bps for U.S. Department of Veterans Affairs (VA) loans.

Mortgages 475

Mortgages VA loan FHA loan Staging 475

Housing Wire

MAY 28, 2024

Veterans and their families who were deceived into refinancing their VA loans were overcharged and did not receive the loan products promised, resulting in significant consumer harm,” Mark Pearce, director of FDIC’s division of depositor and consumer protection, said in a statement.

Banks 458

Banks Mortgages VA loan Loan Officer 458

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 new service, Roam Boost, will cater to people with credit scores of at least 640 and down payments of at least 15%.

Mortgages 448

Mortgages VA loan Loans Lending 448