Housing Wire

SEPTEMBER 5, 2024

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. of the U.S. mortgage market in 2023, up from 14.3% in 2022, according to HUD.

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Housing Wire

JANUARY 20, 2021

The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. To find a qualified lender, you need a good credit score and a good debt-to-income ratio, which is the percentage of a consumer’s monthly gross income that goes to paying down debt.

Debt-to-income ratio 459

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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. Lenders usually want a score around 690 and higher.

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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. . DTIs on Fannie- and Freddie-backed loans have also risen, he said. “What we saw during COVID was the No.

Debt-to-income ratio 431

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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 include updates to pricing for second homes, high-balance loans and cash-out refinances that were first announced in 2022.

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Housing Wire

SEPTEMBER 27, 2023

And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday. The CFPB report shows that the median total loan costs for home purchases was $5,952 in 2022, up 21.8% in 2022, up from 8.3%

Debt-to-income ratio 458

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Housing Wire

OCTOBER 30, 2024

When asked whether loan buybacks were a more significant issue last year than now, Freddie Mac executive Sonu Mittal says emphatically, “It depends on who you ask.” Freddie Mac has seen a nearly 55% reduction in repurchase requests from its peak in the first quarter of 2023. This expands upon a pilot program launched earlier this year.

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Housing Wire

JULY 29, 2022

As rising mortgage rates sap borrower appetite to refinance, fewer loans leave Fannie Mae’s book of business. 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. net income for Q2 2022 appeared first on HousingWire.

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Housing Wire

APRIL 24, 2024

So, start making money on every loan. Amid a challenging environment, Freedom has kept its cost structure low and has acquired loans to increase its servicing portfolio. Inside Mortgage Finance (IMF) estimates Freedom’s owned mortgage servicing was $458 billion at the end of 2023, up 1.3% Guess what?

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Housing Wire

MAY 8, 2023

Freddie Mac’s BorrowSmart Access program will be available to NewRez borrowers through Caliber Home Loans ‘ national network of branches. The special purpose credit program is an extension of the government sponsored enterprise’s equitable housing finance plan.

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Housing Wire

JANUARY 25, 2021

million mortgage originations between 2012 and 2018 from Freddie Mac’ s Single-Family Loan-Level dataset, Haus found that the sweet spot for rates is typically in January, when mortgage originations also typically slump. Surprisingly, a borrower who lowers their debt to income ratio doesn’t move the needle much on rates.

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Housing Wire

JUNE 4, 2021

Your score will determine your financing options for buying a house. If you have poor credit, it’s less likely a lender will approve you for a loan. The good news is, you can raise your credit score by paying down debt and making your payments on time. Step 2: Look At Different Loan Options. with an FHA loan.

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Housing Wire

FEBRUARY 5, 2024

If 30-year rates fall to 6% by the fourth quarter, as the Mortgage Bankers Association (MBA) and Fannie Mae are currently predicting , the overall population of loans with a 75-bps refi incentive would more than double from 1.7 Nearly 60% of that growth would come from loans originated in 2023, ICE projected. million to 3.8

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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

JANUARY 14, 2022

Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. The hiring trend at non-QM lenders stands in sharp contrast to recent layoffs at some consumer-direct lenders, which specialize in conventional refinance loans. Riches in the niches. trillion in 2022.

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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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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

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

Limited to loans with CLTV 76-80 and FICO 720-770 to control for the effect of loan level pricing adjustments. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans. As of July 2023, the gap had slightly narrowed to 0.8

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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

JUNE 29, 2022

Loan officers must understand what modern millennial and Gen Z homebuyers want from their lenders. For mortgage professionals looking to buoy their loan volume through the rest of the year and beyond, understanding the motivations, behaviors and the barriers to entry for these borrowers will only become more vital for success.

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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

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. For instance, processing non-QM loans manually can be prone to human error, cutting into the efficiency of a business.

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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

JANUARY 4, 2022

In total, UWM, through its conduit UWM Mortgage Trust, sponsored seven securitization deals last year involving nearly 9,500 loans valued in total at $3.9 In 2021, two of its seven private-label issuances involved jumbo loans with a combined value of $1.2 That’s a strong start for a new issuer. “A

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Housing Wire

AUGUST 11, 2020

The Mortgage Bankers Association sent a letter on Monday to the Consumer Financial Protection Bureau asking for a six-month extension to the so-called “GSE patch” that allows Fannie Mae and Freddie Mac home loans to borrowers with high debt levels to be considered Qualified Mortgages.

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Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. He will also inform the listing agent that he is a veteran himself and implores them to ask any questions or express concerns they have about VA loans.

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Housing Wire

JANUARY 21, 2022

The platform currently offers two ESG mortgage programs — one focused on green home loans, called MAXEX Sustainable ; and the second, MAXEX Opportunity , serves minority, women and veteran-owned mortgage lenders and is focused on the socially responsible part of ESG. Slump added. That’s been an obstacle,” he said.

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Housing Wire

JUNE 9, 2023

When looking at the nonbank share of all loans broken down by investor ( Fannie , Freddie , and Ginnie Mae ) the glaring data point that stands out is that nonbanks do well over 80% of all loans being made today. Unlike banks, they don’t do auto loans, credit cards, student loans, business lending, lines of credit and more.

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Housing Wire

AUGUST 27, 2021

Second , the reporters looked at conventional loans only, meaning loans only from Fannie Mae and Freddie Mac , and did not include loans from FHA / VA / USDA. The result here is that borrowers who have FICO scores below, say, 720 with a high loan to value (LTV) will often find a better deal by going to the FHA.

Debt-to-income ratio 448

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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. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

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Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. Middleman pointed to average loan-to-value ratios of 50%, average debt-to-income ratios in the low 40% range, and credit scores in the low 700s as indicators of an “extraordinary” credit.

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HomeLight

MARCH 12, 2024

When buying a home, mortgages fall under one of two classifications — conforming and non-conforming loans. Most Americans financing a house will typically use a conforming loan, which means it “conforms” to guidelines that allow the loans to be sold to Fannie Mae or Freddie Mac, two of the largest mortgage buyers in the country.

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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

AUGUST 23, 2023

Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. Nunes: Last August, Better partnered with Palantir to create the proprietary loan platform you mentioned, Tinman Marketplace. We have offices in New York, Charlotte, Irvine, and India.

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HomeLight

JUNE 30, 2024

Are you looking to kickstart your next real estate project in Orange County with a hard money loan? Hard money loans offer a flexible financing option outside of traditional banks, perfect for those who need quick cash, have limited savings, or face credit issues. How does a hard money loan work?

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Lighter Side of Real Estate

SEPTEMBER 8, 2021

A recent article from realtor.com outlined the ways taking out a car loan could impact your ability to get a mortgage (and to get the best rate on that mortgage), including: Changing your credit score. When you apply for a car loan, it’ll show up as a hard inquiry on your credit report. Changing your debt-to-income ratio.

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