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

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

Debt-to-income ratio 397

Debt-to-income ratio Equity Pre-approval Finance 397

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

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. In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios.

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

Housing Wire

MARCH 30, 2021

“At a time when so many consumers are struggling and at risk of losing ground, particularly Black and Hispanic consumers, we need to do all we can to help people stay in their homes and to ensure the availability of responsible, affordable mortgages,” said CFPB Acting Director David Uejio in March. “In

Debt-to-income ratio 476

Debt-to-income ratio Loans Mortgages Lending 476

Housing Wire

OCTOBER 21, 2020

The Consumer Financial Protection Bureau appears to have lost an opportunity to correct a nagging issue in its definition of a qualified mortgage. The current rule provides safe harbor protection to lenders from potential litigation brought by borrowers for loans having debt-to-income ratios of 43% or less.

Debt-to-income ratio 418

Debt-to-income ratio Loans Mortgages Lending 418

Keeping Current Matters

AUGUST 20, 2020

Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Some even worried that we might relive the 2006-2008 housing crash all over again. Bottom Line.

Debt-to-income ratio 303

Debt-to-income ratio Lending Equity Mortgages 303

Housing Wire

MARCH 20, 2024

The ripple effect: Fewer buyers, declining equity As indicated earlier, introducing a system where buyers are solely responsible for their agent’s fees might sound more equitable; however, this change harbors the potential for significant unintended economic consequences. For these buyers, every dollar matters.

Debt-to-income ratio 497

Debt-to-income ratio Agents Equity Closing costs 497

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

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 397

Marketing Debt-to-income ratio Loans Mortgages 397

Housing Wire

DECEMBER 15, 2022

Mortgage lenders, already reeling from a downturn in the mortgage market , now face yet another wave of woe in the form of a huge volume of loan-repurchase requests stemming, in large part, from alleged violations of loan-sale pacts inked with Fannie Mae and Freddie Mac during the boom years of 2020 and 2021.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 370

HomeLight

OCTOBER 28, 2024

Do you have profit-level home equity? Selling your home at a profit starts with knowing your current equity. This is directly connected to what you’ll walk away with after covering your mortgage balance and other obligations tied to your home, including selling costs. Will your debt-to-income ratio permit a new loan?

Pre-approval 110

Pre-approval Debt-to-income ratio Equity Loans 110

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

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

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. With an anticipated doubling in market share in 2022 , non-QM products are top of mind for almost every mortgage industry professional.

Debt-to-income ratio 418

Debt-to-income ratio Lending Pre-qualification Loans 418

HomeLight

JULY 23, 2024

You’ve been thinking about tapping into your home’s equity for a project or purchase that’s been on your “someday” list, but the time and expense of the appraisal and process have held you back. You might be wondering if you can get a no-appraisal home equity loan. Get Estimate What is a no-appraisal home equity loan?

Equity 116

Equity Loans Debt-to-income ratio Finance 116

Marco Santarelli

DECEMBER 21, 2024

If you're asking yourself “Should I refinance my mortgage now or wait for 2025?”, Mortgage rates are showing some instability right now, but major reductions are unlikely anytime soon. Should I Refinance My Mortgage Now or Wait Until 2025? Tapping into home equity: You can refinance to pull cash out of your home.

Debt-to-income ratio 52

Debt-to-income ratio Mortgages Loans Equity 52

Marco Santarelli

MARCH 4, 2025

But let's be honest, lately, the path to homeownership has felt more like climbing a mountain than strolling through a park, especially with those mortgage rates seeming sky-high. So, if you're wondering, “ Mortgage rates are falling. But in this case, it's actually contributing to lower mortgage rates. And guess what?

Mortgages 83

Mortgages Debt-to-income ratio Principal As-is 83

HomeLight

SEPTEMBER 25, 2024

Are you considering using a home equity loan to help buy your next house? Whether you’re purchasing a second property for investment, a vacation getaway, or looking for a way to buy a new home before selling your current one, tapping into your home’s equity can feel like an appealing solution. How Much Should You Put Down on a House?

Equity 111

Equity Loans Debt-to-income ratio Mortgages 111

HomeLight

DECEMBER 5, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Here’s the catch: The lender providing your new mortgage will often be your bridge loan buddy.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Realty Biz

OCTOBER 25, 2021

Financing in the form of mortgage refinancing can reduce your expenses and help you pay off your mortgage faster. When you refinance your mortgage you will be replacing your existing mortgage with a new mortgage with new terms and a different interest rate. Mortgage refinancing tends to be an easier process.

Debt-to-income ratio 108

Debt-to-income ratio Mortgages Closing costs Equity 108

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Mortgage Options During Chapter 13 Bankruptcy.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

HomeLight

NOVEMBER 3, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. However, it’s essential to note that bridge loans can come at a higher cost than traditional mortgages.

Equity 116

Equity Loans Debt-to-income ratio Home sale contingency 116

Marco Santarelli

MARCH 30, 2025

Today, March 30, 2025, potential homebuyers and those looking to refinance are seeing a slight dip in mortgage rates. According to recent data from Zillow, the average 30-year fixed mortgage rate has edged down to 6.59%, a decrease of three basis points.

Mortgages 64

Mortgages Principal Fixed-rate mortgage Debt-to-income ratio 64

HomeLight

NOVEMBER 7, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. In simple terms, it’s a short-term loan that uses the equity in your existing home to help finance the new purchase.

Equity 115

Equity Loans Debt-to-income ratio Home sale contingency 115

HomeLight

OCTOBER 25, 2023

If you are relying on the equity in your current home to make a down payment on the new one, it may seem the only way the puzzle fits together is to sell, move out, and find a third location to live while you shop for the new house. Often referred to as a swing or interim loan, a bridge loan is usually pricier than your regular mortgage.

Equity 111

Equity Loans Debt-to-income ratio Closing costs 111

HomeLight

DECEMBER 13, 2023

This allows you to utilize the equity from your existing property and streamline the transition into your new home without needing temporary housing. To bridge this income gap, you can leverage the equity from your existing home for the down payment and closing costs on your new property. What is a bridge loan, in simple words?

Equity 119

Equity Loans Debt-to-income ratio Home sale contingency 119

HomeLight

NOVEMBER 21, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Imagine it as a short-term lending solution that taps into the equity of your current home.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Marco Santarelli

MARCH 13, 2025

As of today, March 13, 2025, mortgage rates have increased slightly in response to the latest inflation data, with the 30-year fixed mortgage rate now at 6.34% and the 15-year fixed rate at 5.65%. Here's a detailed look at current averages from Zillow's data: Type of Mortgage Interest Rate (%) 30-year fixed 6.34 5/1 ARM 6.38

Mortgages 52

Mortgages Fixed-rate mortgage Debt-to-income ratio Principal 52

HomeLight

NOVEMBER 29, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. The same lender handling your mortgage for the new home will often manage your bridge loan.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 30, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Equity requirements: Lenders assess the equity in your current home.

Equity 115

Equity Loans Debt-to-income ratio Home sale contingency 115

HomeLight

DECEMBER 15, 2023

A bridge loan is a short-term financing solution, giving you the necessary income to purchase a new home, even before you’ve sold your current one. This type of loan leverages the equity in your existing home, providing you with the necessary funds for a down payment and to cover the closing costs of your new property.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

DECEMBER 13, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Typically, the lender working on your new mortgage will also handle your bridge loan.

Equity 116

Equity Loans Debt-to-income ratio Home sale contingency 116

Marco Santarelli

MARCH 20, 2025

Are you keeping an eye on mortgage rates? As of March 20, 2025, the mortgage market is showing a slight upward tick , with rates inching up for the second consecutive week. 30-year fixed mortgage rate: Currently averaging 6.61%. 15-year fixed mortgage rate: Averaging 5.98%. 15-year fixed mortgage rate: Averaging 5.98%.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

HomeLight

DECEMBER 29, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Bridge loans rely on equity in your current home.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

DECEMBER 15, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Imagine you’ve found your dream home, but your funds are tied up in your existing home’s equity.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Marco Santarelli

MARCH 17, 2025

Are you keeping an eye on mortgage rates today, March 17, 2025? Well, according to the latest data, mortgage rates are still on the higher side and have even seen a bit of an increase recently. Today's Mortgage Rates March 17, 2025: Rates Are Rising Again Slowly Key Takeaways: 30-year fixed mortgage rates are averaging around 6.59%.

Mortgages 72

Mortgages Fixed-rate mortgage Principal Loans 72

HomeLight

NOVEMBER 21, 2023

Enter the bridge loan, a financial lifeline that can synchronize the purchase of your new Minnesota home while leveraging the equity of your current property. This type of loan taps into the equity of your current home, providing the necessary funds for a down payment and other expenses linked to your new home purchase.

Equity 115

Equity Loans Debt-to-income ratio Staging 115