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

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). When it comes to retaining the business of refinancing homeowners, the industry has a lot of ground to make up.

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Housing Wire

SEPTEMBER 17, 2024

The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C.,

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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

AUGUST 8, 2024

Although there is no doubt that business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement are going to impact how real estate industry professionals operate, economists aren’t too sure they’ll have much bearing on the housing market. “I

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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

AUGUST 22, 2024

We also had several conversations on this issue when I was Vice President for Federal Policy and Industry Relations at the National Association of Realtors. The reality is that financing commissions are unfeasible. This assumption is fundamentally flawed.

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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.”.

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Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. The new rule is slated to be implemented on Oct. 1, 2022.

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Housing Wire

MAY 25, 2022

In a housing market vastly different from the pre-pandemic period, how can industry professionals position themselves to achieve growth despite these current obstacles? When it comes to business growth this year and beyond, industry experts agree that 2022 is the year of the non-qualified mortgage (non-QM) loan.

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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. In that time, the market, the industry and the consumer changed dramatically. Garg: It took us six years to do $100 billion of refinances and to build an industry leader in refinances.

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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

JUNE 9, 2023

Because the key regulators in Washington spend a lot of their time ingratiating themselves to the banking industry and lamenting about nonbanks. Or look at this data on DTI (debt to income ratio). In the FHA program alone, 46.3% Why does this all matter? But of course, progressive solutions require problems.

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Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. Income and credit information are inputted into the AUS.

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Housing Wire

AUGUST 27, 2021

When I read the MBA response to the article from The Markup, I thought that this was a classic response from the trade association that represents industry, and in reading their comments I agreed with the concerns that I stated at the onset of this commentary. This rule remains in effect today.

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Housing Wire

AUGUST 26, 2024

In recent weeks, HousingWire has listened to mortgage lenders’ second-quarter earnings calls, reviewed analysts’ comments and interviewed industry experts to address a critical question: From a servicing perspective, which companies are best positioned for the new rate cycle? “A So, they are positioned better to handle it.”

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Housing Wire

NOVEMBER 8, 2021

A lot of the rules have relaxed over the past several years, but people always tend to remember the negative things so that is what has spread throughout the industry.”. “Somebody has a problem once and then that story just spread. From a lending perspective they are the easiest loan to work with,” Naumovych explained.

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Inman

MAY 10, 2023

Lending industry groups like the Mortgage Bankers Association called a fee based on borrower's debt-to-income ratio "unworkable."

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RIS Media

DECEMBER 21, 2020

The real estate industry itself is changing like never before. When it comes to financing a home, millennial aged buyers were more likely to get an FHA for their chosen financing due to potentially lower credit scores and higher debt to income ratio as compared to older generations.

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Broke Agent Media

MAY 11, 2023

The decision comes after the FHFA announced a delayed implementation to better understand the concerns of industry stakeholders. Industry professionals are rejoicing after the Federal Housing Finance Agency (FHFA) announced that it has rescinded upfront fees based on borrowers’ DTI ratio for loans acquired by Fannie Mae and Freddie Mac.

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Housing Wire

JULY 25, 2023

Though the policy has been credited with saving consumers billions of dollars, the insurance industry says it comes at the expense of accurate underwriting and actual pricing risks. Entry level homebuyers are getting hit hardest. “If

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RIS Media

APRIL 8, 2022

Finances falling through. Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. Other factors can also put a home back on the market. Low appraisal.

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Realty Biz

SEPTEMBER 30, 2023

Let's delve deeper into these topics to guide you towards an affordable home financing solution. However, generally, a credit score below 620 is often seen as a lower credit score in the mortgage industry. Mortgage rates can fluctuate daily, so keeping track of them will help you make an informed decision about your financing options.

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AAOA

MARCH 24, 2025

Research potential locations and secure financing options. Consider partnering with a local real estate agent who knows your desired areas housing market, industry trends, and rental dynamics. Be prepared to provide documentation like bank statements and federal tax returns to verify your income sources.

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Realty Biz

AUGUST 20, 2023

By understanding the ins and outs of mortgage pre-approval, you will be better equipped to navigate the home-buying process and make informed decisions regarding your budget and financing options. Preparing Your Finances for Mortgage Pre-approval Preparing your finances is an essential step to getting pre-approved for a mortgage.

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HomeLight

JUNE 22, 2023

Everyone’s finances and circumstances are different. Monthly income The very first thing you need to consider is your income. Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. X 100 = 36% Your debt-to-income ratio is 36%.

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HomeLight

AUGUST 31, 2020

USDA Rural Development loans also allow for 100% financing (or 0% down). During the coronavirus pandemic, for example, many lenders imposed overlays (an overlay happens when a lender sets extra qualifications on top of the industry-wide guidelines, making it harder to qualify for a mortgage). Source: Austin Distel / Unsplash).

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Broke Agent Media

JANUARY 9, 2023

The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost markets, making them more accessible to buyers. homes no longer require a jumbo loan for financing. . The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost U.S.

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Lighter Side of Real Estate

SEPTEMBER 12, 2023

If it’s an upward or lateral career move within the same or similar industry, you should be fine. If you’ve had changes in your finances. But any change in your finances makes it worth updating your pre-approval. Either way, reach out to see if it impacts you so you can ease their concerns if there are any.

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RIS Media

JUNE 5, 2021

The organization launched the initiative on June 5 in collaboration with Freddie Mac and under the Federal Housing Finance Agency (FHFA). The program offers low-income homeowners with Fannie Mae-backed mortgages an opportunity to refinance and save money on their loan payments. Optimistic Outlook.

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Realty Biz

JULY 23, 2023

This type of income is earned by individuals who are considered self-employed, meaning they work as independent contractors or freelancers. It's essential to grasp how 1099 income affects mortgage loans and what lenders look for when determining eligibility for home financing.

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HomeLight

MARCH 9, 2023

Below is a list of resources that may help you identify helpful programs: Federal Housing Finance Agency (FHFA) National Association of Real Estate Brokers : Two Million New Black Homeowners Program (2Mn5) National Housing Conference : 3 by 30 initiative The U.S. How can partnering with a top expert help the homebuying process?

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Marco Santarelli

APRIL 28, 2023

The Federal Housing Finance Agency (FHFA) recently announced changes to the loan-level price adjustments (LLPAs) for borrowers with conventional mortgages backed by Fannie Mae or Freddie Mac. Another fee change is expected to take effect on August 1, following pushback from the mortgage industry.

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Realty Biz

JUNE 23, 2021

If your finances aren’t in tip-top shape , a traditional lender may not want to lend you money. Ever since the financial crisis of 2008, lenders are reluctant to take risks on people with less-than-stellar credit or who have high debt-to-income ratios. Here’s why. Easier to Qualify.

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HomeLight

MAY 19, 2022

We also have additional insights from Graham Alexander, Solar Sales and Design Manager at Southern Energy Management in Raleigh, North Carolina, who has 17 years of experience in the solar industry. Financed sale vs. an all-cash sale. Do solar panels increase home value? The age of the system.

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The Close

FEBRUARY 20, 2023

In my 28-year career in real estate and investing, I have had to source hard money financing for everything from simple fix-and-flip properties to multi-million-dollar apartment building rehabs. DoHardMoney will finance 100% of the purchase price, and in some cases, they will also lend 100% of the repair costs. What’s the catch?

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Broke Agent Media

FEBRUARY 13, 2023

Painting a picture of household finances in 2022-23 While inflation appears to be cooling, consumer spending is so out of balance with disposable income that the personal savings rate hit a near-record low last fall of 2.4%. For industry news, edutainment, and humor, sign up for the best newsletter on the planet for real estate agents.

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