Housing Wire

MAY 16, 2024

Across all states, California poses the highest risk of bankruptcy for Americans ages 65 and older, according to a study released by personal finance website Moneywise. The study analyzed 11 factors to determine which states put elderly U.S. citizens at the greatest risk of bankruptcy.

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Housing Wire

APRIL 7, 2021

Your Income Is Stable. How are your finances? A stable income means you’re more likely to be approved for a loan , than someone with an unstable income. Not to mention, if your finances are solid, you’ll be able to afford all those extra housing expenses. Most lenders prefer borrowers with a DTI lower than 36%.

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Housing Wire

SEPTEMBER 5, 2024

The report calls on more states and cities to pass “source of income” or “source of financing” anti-discrimination statutes and enforce them to protect homebuyers. These anti-discrimination statutes make it illegal to refuse to rent, sell or lease housing because of a lawful source of income being provided. of the U.S.

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Housing Wire

MAY 24, 2024

Student loan debt may affect your home-buying goals in a few key ways. Debt-to-income ratio (DTI) Lenders calculate your DTI ratio by dividing your total monthly debt payments (including student loans) by your gross monthly income to assess your ability to handle additional debt, like a mortgage.

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Housing Wire

MARCH 13, 2024

They wanted to understand their credit, they wanted to understand their debt-to-income ratio, they wanted to understand how to build their savings, and they wanted education.” With these customer needs in mind, Hefets and her team set out to create DivvyUp. It is very aligned with our mission,” Hefets said. “It

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Bigger Pockets

MAY 29, 2023

A sound understanding of how to calculate debt to income ratio is critical for investors. We explain the formula you need to get your DTI.

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HomeLight

FEBRUARY 7, 2025

Your ability to finance a home purchase often hinges on a metric called a “debt-to-income ratio” (DTI) a percentage that shows how much of your monthly income goes toward debt payments. A debt-to-income ratio for a mortgage is a key that can open or lock the door to homeownership.

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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. Eligible borrowers must have a FICO score of 680 or higher and a debt-to-income ratio of 40% or less.

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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.

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Housing Wire

JANUARY 20, 2023

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. The changes are effective starting May 1, 2023.

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Housing Wire

OCTOBER 11, 2023

The Federal Housing Finance Agency (FHFA) Director Sandra Thompson said Wednesday that the agency is working to provide more clarity on its framework and use alternatives amid a spike in Fannie Mae and Freddie Mac ‘s loan buybacks. There could be some way or alternatives to repurchase that need to be considered,” Thompson said.

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Housing Wire

MAY 8, 2023

Louis, Missouri-Illinois Program borrowers also need to meet the lender’s eligibility requirements, which typically include a minimum credit score of 620 and a maximum debt-to-income ratio of 50%. For those who make between 50.01% and 80% of AMI, there is up to $1,250 worth of assistance available.

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Housing Wire

SEPTEMBER 27, 2023

Higher costs and rates meant customers taking out mortgages in 2022 devoted a higher share of their income towards paying home loans. The average debt-to-income ratio for Hispanic White and Black borrowers reached over 40% in 2022, about 39% among Asian applicants and 37% for non-Hispanic whites. in 2022, up from 8.3%

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Housing Wire

JULY 29, 2022

Treasury , which holds a majority stake in Fannie Mae, and the Federal Housing Finance Agency , its conservator, allowed the company to retain earnings starting in 2019. That mix of refinances and purchase acquisitions also impacted the debt -to-income ratio of loans Fannie Mae bought, and the underlying credit score.

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Housing Wire

APRIL 24, 2024

To prove his point, Middleman said that he is seeing average loan-to-value ratios of 50%, average debt-to-income ratios in the lower 40% range, and credit scores in the low 700s, which is an ”extraordinary” credit profile, he said. compared to the previous year.

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Housing Wire

JANUARY 25, 2021

Surprisingly, a borrower who lowers their debt to income ratio doesn’t move the needle much on rates. That said, recent changes implemented by the Consumer Finance Protection Bureau have removed DTI requirements from qualified mortgages.

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Housing Wire

SEPTEMBER 17, 2024

former Federal Housing Financing Agency (FHFA) director Mark Calabria made the argument that a larger credit box has caused the government-sponsored enterprises (GSEs) to take on far more risk than they should be. . At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C.,

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Housing Wire

JUNE 4, 2021

Your score will determine your financing options for buying a house. To determine what kind of house you can afford, you need to analyze your debt-to-income ratio (DTI). Your DTI shows how much money you put towards debt each month, and it’s relatively simple to calculate. . Step 1: Know Your Credit Score.

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Housing Wire

MARCH 15, 2023

Following a chorus of complaints from the mortgage industry, the Federal Housing Finance Agency (FHFA) on Wednesday announced that it would delay the implementation of a new and controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios.

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Housing Wire

FEBRUARY 5, 2024

Under such a scenario, more than half would be homeowners who financed in 2023, with less than 10% coming from 2022-vintage loans. of the median household income, the average payment is down from a 38-year high of more than 38% in October. million to 3.8 Nearly 60% of that growth would come from loans originated in 2023, ICE projected.

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Housing Wire

MARCH 3, 2024

The market in which these folks purchased their first home was one of record house prices, ballooning down payments , rising rates and elevated debt-to-income ratios (DTIs).

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Housing Wire

AUGUST 11, 2020

By providing an exception to the general QM loan definition’s strict 43% debt-to-income ratio threshold and rigid income and debt verification criteria, the GSE patch facilitates access to affordable mortgage credit for credit-worthy borrowers who fall outside the requirements of the general QM definition.”. “The

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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. “So,

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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. The reality is that financing commissions are unfeasible. This assumption is fundamentally flawed.

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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. The mortgage debt-to-income ratio is near a four-decade low and homeowner equity is at a historic high.

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Housing Wire

APRIL 26, 2023

Federal Housing Finance Agency (FHFA) Director Sandra Thompson issued a statement Tuesday to correct the misinformation that’s spread about the agency’s loan-level pricing adjustments to conventional mortgages. No change is more controversial than the LLPA tied to a borrower’s debt-to-income ratio.

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Housing Wire

MARCH 24, 2021

The Mortgage Bankers Association on Tuesday sent a letter to Treasury Secretary Janet Yellen and Federal Housing Finance Agency Director Mark Calabria expressing concern over several amendments to the Senior Preferred Stock Purchase Agreements announced in January , including changes to investment properties.

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Housing Wire

DECEMBER 12, 2023

In this case, the total debt-to-income ratio (DTI) would be 51% and would exceed the Fannie Mae or Freddie Mac DTI limit of 50%. This suggests that DR Horton was offering the greatest buydowns to the most income-constrained borrowers in order to qualify more of them for financing. permanent rate buydown to 6%.

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Housing Wire

JANUARY 14, 2022

The Federal Housing Finance Agency recently announced new upfront fees for second-home loans which, much like the abrupt and now-suspended caps on such loans last year, are expected to give the private-label securities market a boost. The new rule is slated to be implemented on Oct. 1, 2022.

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Housing Wire

JUNE 29, 2022

Many millennial and Gen Z future homebuyers are concerned about the effects of personal finance issues like having insufficient savings, increasing debt and low credit when applying for a loan. Today, 78% would apply for a loan with less than the traditional 20% down payment, while more than half (55%) do plan to put down at least 10%.

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Housing Wire

MAY 25, 2022

Partnering with a team that understands how to approach home loans for borrowers with complex finances can make the difference between another year of profit growth and the unfortunate possibility of loss in business, making it one of the most crucial decisions for any lender.

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Housing Wire

JUNE 9, 2023

Three large and mismanaged depositories failed in the first quarter of 2023, yet progressive partisans like Chopra, Treasury Secretary Janet Yellen, and Federal Housing Finance Agency head Sandra Thompson ignore the public record and continue to fret about nonexistent risk of contagion from mortgage servicers.”

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Housing Wire

JANUARY 4, 2022

Still, even in those transactions, the underlying collateral appears solid, with the average credit scores of the borrowers above 760 and the average debt-to-income ratio ranging from 64.4% to 72% across the three deals in a market with fast-rising home prices.

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Housing Wire

JANUARY 21, 2022

said that the company’s borrowers are largely self-employed individuals who can’t get access to housing-finance programs through mainstream channels, such as banks, credit unions or traditional mortgage companies. “If Basically, it allows them to qualify for more mortgage because their housing expenses in the long-term are reduced.”.

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Housing Wire

AUGUST 23, 2023

Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. New York-based digital lender Better.com has shifted its strategy ahead of its initial public offering (IPO). is expected to begin trading on the Nasdaq Stock Exchange on Thursday under the ticker symbol “BETR.”

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Housing Wire

NOVEMBER 8, 2021

They have 100% financing, no mortgage insurance and there is no longer a loan limit and I am often able to give customers better interest rates even if they do not have a great credit score or their debt to income ratio is high. “From a lending perspective they are the easiest loan to work with,” Naumovych explained.

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Housing Wire

AUGUST 27, 2021

David Stevens has held various positions in real estate finance, including serving as senior vice president of single family at Freddie Mac, executive vice president at Wells Fargo Home Mortgage, assistant secretary of Housing and FHA Commissioner, and CEO of the Mortgage Bankers Association. This rule remains in effect today.

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