Real Estate News

MAY 10, 2023

1, were opposed by industry groups including NAR and the Mortgage Bankers Association. The fees, which were scheduled to go into effect on Aug.

Debt-to-income ratio 258

Debt-to-income ratio Industrial Mortgages 258

Housing Wire

SEPTEMBER 10, 2020

Q: What developments at the CFPB should the mortgage industry be watching? Also, there is the criticism of the general QM that was put into the reg that had the strict 43% debt-to-income ratio benchmark. I think the industry will focus on that. Both the industry and consumer groups support change.

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Debt-to-income ratio Loans Mortgages Industrial 447

Housing Wire

MAY 29, 2024

For his client, who had many BNPL loans on her bank statement, paying them off made a significant difference since her debt-to-income ratio was too high. But these sources also told HousingWire that they don’t see an imminent “systemic risk” tied to BNPL debt. “I It’s a little like preventive medicine,” Racamato said.

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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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Debt-to-income ratio Finance Mortgages Industrial 545

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.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

SEPTEMBER 11, 2023

Meadow has 25 years of mortgage industry experience. This deal strengthens our offerings and gives us more tools to serve more customers looking for a better way to buy and sell a home.” In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships.

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Housing Wire

DECEMBER 13, 2024

Mortgage application and origination activity dropped by roughly one-third from 2022 to 2023 as high interest rates depressed broader industry activity. Despite rising rates that fueled this increase, debt-to-income ratios did not see a significant change in the same period.

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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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Debt-to-income ratio Loans Mortgages Industrial 418

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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Debt-to-income ratio Loans Lending Finance 434

Housing Wire

MARCH 4, 2021

.” The bureau said: “extending the mandatory compliance date of the general QM final rule would allow lenders more time to offer QM loans based on the homeowners’ debt-to-income ratio, and not solely based on a pricing cut-off.”. What’s At Risk?

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Debt-to-income ratio Finance Loans Mortgages 476

Housing Wire

FEBRUARY 5, 2024

of the median household income, the average payment is down from a 38-year high of more than 38% in October. But that number is still 9 percentage points above the 30-year average debt-to-income ratio of 24.2% and slightly less than the 33.8% peak prior to the housing market downturn in 2006. “If

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Debt-to-income ratio Marketing Equity Loans 482

Housing Wire

APRIL 26, 2023

. “The targeted eliminations of upfront fees for borrowers with lower incomes – not lower credit scores – primarily are supported by the higher fees on products such as second homes and cash-out refinances,” Thompson said, adding that the GSEs’ statutory charters require them to support low- and moderate-income borrowers.

Debt-to-income ratio 397

Debt-to-income ratio Loans Mortgages Lending 397

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

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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Debt-to-income ratio Mortgages Loans Finance 373

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

OCTOBER 29, 2021

One outstanding matter that many in the mortgage industry wants resolved is the future of the 2020 General QM Rule. It did away with the 43% debt-to-income ratio limit in favor of more flexible pricing guidelines. Industry and housing groups expect big things from FHFA.

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Debt-to-income ratio Loans Mortgages Industrial 365

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. I urge Steve to reconsider the implications of his stance and engage with stakeholders, both industry and consumers, to address the immediate concerns of those he says he aims to help.

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Debt-to-income ratio Finance Mortgages Banks 353

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.

Debt-to-income ratio 434

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Housing Wire

AUGUST 23, 2023

In that time, the market, the industry and the consumer changed dramatically. Secondly, we are going to continue to invest in our technology and drive products, like One Day Mortgage, that are innovative and groundbreaking and drive the adoption of those products across the industry. What happened, from your standpoint?

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Debt-to-income ratio Technology Mortgages Pre-approval 370

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.

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Debt-to-income ratio Lending Equity Mortgages 304

Housing Wire

AUGUST 5, 2022

The National Housing Conference , a trade association that represents mortgage lenders, was one of the few industry stakeholders that suggested the banking agencies push the boundaries a bit more. Some think that the proposed rule already addresses concerns that including race more explicitly would draw a legal challenge.

Banks 448

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Housing Wire

MAY 3, 2023

The Federal Reserve affirmed on Wednesday that its next key federal funds rate hikes will depend on incoming data. In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates.

Mortgages 448

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 448

Housing Wire

OCTOBER 21, 2020

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. CFPB needs to rethink their definition of a QM loan to be better aligned with industry underwriting.

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Debt-to-income ratio Loans Mortgages Lending 418

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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Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 448

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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Debt-to-income ratio Lending Mortgages Industrial 158

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.

Debt-to-income ratio 418

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

Housing Wire

MAY 9, 2023

Much of the problem stems from the huge volume of low-rate loans originated in 2020 and 2021 at a time when the industry was continuously working to build capacity to deal with the explosive origination growth. He added that loan defects often leading to repurchase requests include, among others, borrower income-related issues (i.e.,

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

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

AUGUST 7, 2023

Income and credit information are inputted into the AUS. Then, it makes a decision based on three primary factors: debt-to-income ratio (DTI), credit score and loan-to-value ratio (LTV). Lenders use systems called automated underwriting systems (AUS) that are accessed by Fannie Mae and Freddie Mac.

Closing 370

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Housing Wire

JULY 25, 2023

Accurately calculating a customer’s front-end debt-to-income ratio (DTI) requires accounting for all housing expenses, including homeowners insurance premium. BM: We built Matic ’s embedded insurance marketplace specifically for the mortgage industry to provide value to lenders, servicers and borrowers.

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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?

Banks 370

Banks Debt-to-income ratio Lending Loans 370

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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BAM Media

JANUARY 7, 2025

Debt and Credit: Renters have higher debt-to-income ratios and are twice as likely as homeowners to fall behind on debt payments (18% vs. 9%). For industry news, edutainment, and humor, sign up for the best newsletter on the planet for real estate agents. And thats where you come in.

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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.

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VA loan Agents Pre-approval Debt-to-income ratio 418

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.

Industrial 112

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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

MARCH 10, 2023

ATTOM , a real estate data provider, reports, however, that the “severe contraction across the lending industry in the fourth quarter of 2022 even hit HELOCs” in terms of origination volume. And we have more of an asset-based underwriting not focused on debt-to-income ratios.”

Equity 370

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