Housing Wire

JANUARY 4, 2023

With a focus on purchase mortgages through referral sources, Reich aims to close $1 billion in loan origination volume in 2023 through his division alone. In addition to offering borrowers FHA loans, conventional purchase mortgages and refis, the lender specializes in retail channel construction loans, according to the firm. “We

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Housing Wire

NOVEMBER 16, 2021

Joel Kan, associate vice president of economic and industry forecasting at the MBA, noted in a statement that purchase activity in October was dominated by higher mortgage loan balance transactions, pushing the average new home loan size over $412,000—a record in the survey. of loan applications. FHA loans composed 13.5%

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Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. In turn, thousands of loan originators could soon be looking for a new lender to hang their license. They weren’t so small that they couldn’t handle us.”

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Housing Wire

DECEMBER 15, 2020

“November new home sales activity, both mortgage applications and home sales, ran at a pace considerably ahead of 2019, showing the ongoing strong growth in housing demand and new residential construction,” Kan said. The average loan size of new homes increased from $355,684 in October to $357,554 in November, according to the survey.

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Housing Wire

MAY 19, 2022

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. However, the pace of construction has slowed in recent months,” Kan added. Homebuilders constructed about 1.23 Single-family home constructions saw a 4.9% Single-family home constructions saw a 4.9%

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Housing Wire

JULY 18, 2024

The data, derived from the trade group’s survey of homebuilders, is “consistent with broader declines in single-family construction and new building permits as well as typical seasonal patterns,” according to Joel Kan, vice president and deputy chief economist at the MBA. of the total in June. of the total in June and U.S.

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Housing Wire

JUNE 17, 2021

Lack of inventory and sweltering home prices have become a market norm for much of the industry, and May’s loan size data reported the trend has yet to abate. According to the BAS, the average loan size rose from $377,434 in April to $384,000 in May ?the the fourth consecutive month of rising loan sizes and a new survey high.

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Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

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Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

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Housing Wire

OCTOBER 19, 2021

“New home sales purchase activity was weaker in September, and the average loan size rose to another record high, as homebuilders continue to grapple with rising building materials costs and labor shortages. When looking at loans by product type, conventional loans made up 75.1% and RHS/USDA loans made up the final 0.5%.

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Housing Wire

FEBRUARY 16, 2024

Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. In January, conventional loans accounted for 64.5% of loan applications for new homes. Federal Housing Administration (FHA) loans accounted for 24.8% of applications, U.S.

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Housing Wire

JANUARY 3, 2024

“The housing market has been hampered by a limited supply of homes for sale, but the recent strength in new residential construction will continue to help ease inventory shortages in the months to come,” Kan added. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% from 15% the week prior.

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Housing Wire

MAY 13, 2021

Amid continued competition from borrowers, the average loan size of a new home reached its highest level in the survey’s history at $377,434. By loan type, conventional loans backed by Fannie Mae and Freddie Mac took the lion’s share at 72.9% of loan applications, followed by just 15.8% of FHA loans, 10.3%

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Housing Wire

AUGUST 31, 2023

In the mortgage lending business, Mars Bank offers 30-year fixed conventional, FHA loans, a medical professionals mortgage program, construction loans, home equity loans and Home Equity Line of Credits ( HELOCs ), according to its website. Mars Bank posted an origination volume of $50.9 NexTier Bank produced $50.6

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Housing Wire

JULY 20, 2021

” Mark Palim, deputy chief economist at Fannie Mae , said anecdotal reports of builders delaying or turning down orders to clear a growing construction backlog appears to be borne out by the recent housing starts data. With lumber prices recently pulling back, we expect some near-term strength in construction.

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Housing Wire

APRIL 16, 2024

A higher FHA share can be a sign of more first-time buyer activity, but that segment of buyers is also more sensitive to affordability challenges.” In February, conventional loans accounted for 63% of applications for new homes. Federal Housing Administration (FHA) loans accounted for 26.4% of applications , U.S.

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Housing Wire

JANUARY 10, 2022

Interest rates on 30-year fixed-rate loans averaged 2.96% in 2021, a record low annual average, and are expected to rise this year. Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% for 30-year fixed-rate loans.

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Housing Wire

FEBRUARY 20, 2025

The average loan size for new-home mortgages increased from $400,930 in December to $403,416 in January, according to MBA’s report. ” Kan also pointed out an increase in the share of Federal Housing Administration (FHA) loan applications for new homes as a key driver for more sales. .” year over year.

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Housing Wire

JULY 20, 2023

Homebuilders constructed an annualized rate of 1.434 million houses in June, down 8% from May and 8.1% Single-family home constructions saw a 7% month-over-month decrease to rate of 935,000 in June. The average loan size decreased from $403,581 in May to $400,281 in June. Conventional loans accounted for 65.5%

Mortgages 370

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Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time. So, the servicing valuation on those loans is strong, because pre-payments are low.

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Housing Wire

JULY 26, 2021

Zillow Economist Matthew Speakman said demand for new homes should remain hot, as home shoppers continue to favor new construction as an alternative to the “ultra-competitive” resale sector. By product type, conventional loans were 74.4% The average loan size of new homes increased from $384,323 in May to $392,370 in June.

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Housing Wire

JULY 19, 2022

New residential construction and permitting activity weakened from March through May, which reduced the number of homes available for home buyers, according to survey results. The average loan size dropped to $426,966 in June from May’s $430,855, MBA said. Conventional loans accounted for 73.7% of loan applications.

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Housing Wire

AUGUST 22, 2022

“The slide in purchase applications for new homes – now down for the fourth consecutive month and 16% lower than a year ago – is consistent with data on declining homebuilder sentiment and slowing permitting activity for new construction.”. By product type, conventional loans composed 70.7% and VA loans composed 11.4%.

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Housing Wire

APRIL 15, 2024

Louis that compares the median home price in Nevada at the time Biden took office ($342,995) to the figure as of January 2024 ($460,000), and illustrated increases in monthly payment obligations for Federal Housing Administration (FHA) borrowers. million new housing units are under construction nationwide right now because of it.

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Housing Wire

NOVEMBER 16, 2023

FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% of all new-home purchase applications as homebuyers turned to new construction for more housing options. This is the highest share of FHA new-home purchase applications in a decade.

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HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

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Housing Wire

SEPTEMBER 29, 2020

You’ve probably staffed up on loan officers equipped to handle this influx, and you may be shunning riskier, less immediately gratifying business. Certainly, devote resources to expanding your refi capacity, but also devote smaller teams to tougher loan types — first-time homebuyers, for example. Don’t just let your company eat cake.

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Housing Wire

JUNE 21, 2022

Data from John Burns Real Estate Consulting shows that student loan debt has increased 100% since 2007, keeping many renters in place. Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. Here’s one data point for you.

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Housing Wire

FEBRUARY 1, 2023

FBC Mortgage recorded originations of about $8 billion in 2022, including its joint venture volume, Nunziata said, adding that about 70% of that volume “was new construction.” It varies a little bit based on loan amount and interest rate but … a pretty good rule of thumb is a [2-1] buydown will typically cost the seller about 2.25

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Housing Wire

MAY 31, 2022

Led by Irma DeLoen, Geneva Financial’s Chicago branch will offer products including conventional and government loans, such as loans from the Federal Housing Administration (FHA), Veterans Affairs and U.S. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

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Maximum Exposure Real Estate

MARCH 23, 2023

The FHA 203K Loan Explained Over my years as a real estate agent, several home buyers have asked me about buying and fixing a house with one loan. The best method for doing so is an FHA 203k loan. 203k FHA loans are also referred to as FHA construction loans.

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Housing Wire

DECEMBER 12, 2023

Meanwhile, inventory for new homes soared to levels last seen during the Great Financial Crisis as builders worked off the backlog accumulated from the pandemic’s construction boom. The gap peaked in November 2022, when the average note rate for new construction sales was one percentage point lower than the rate for existing home sales.

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Housing Wire

JUNE 23, 2021

. “Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan said, “Government purchase applications drove most of last week’s increase, which also contributed to a slightly lower overall average purchase loan size.”.

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Housing Wire

MARCH 17, 2021

New home applications are down as well, as builders are still suffering from missing construction crews and the skyrocketing price of lumber and building materials. Rates have jumped north of 3% , with most recent reports showing it hovering around 3.5%. Home prices in general are staying high , as well.

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Housing Wire

DECEMBER 29, 2022

The housing economy is built on housing construction, and the recession that started in June meant housing permits were going to fall, which they have. People who buy homes late in an expansion and lose their jobs with no selling equity will likely lead to a foreclosure, most likely those with FHA loans.

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Realty Biz

JULY 20, 2022

For some buyers, there might even be a no down payment home loan available. The Federal Housing Administration regulates and backs the FHA Loans program. The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%.

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BAM Media

APRIL 3, 2025

Its also worth noting that the new administrations tariff policy could drive up home values by raising the cost of building materials for new construction and home repairs and renovations. #3: People who cannot realistically afford a home are far less likely to be approved for a loan. But back then over 23% of homes were underwater.

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