Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Our DSCR loan for real estate investors qualifies on the rental cash flow of the subject property.

Debt-to-income ratio 415

Debt-to-income ratio Mortgages Banks Investor 415

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And it just might push some smaller lenders over the cliff.

Loans 369

Loans Debt-to-income ratio Purchase and sale agreement Banks 369

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. “With BorrowSmart Access, we’re delivering on that mission by providing ways to reduce cost in the homebuying process.”

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

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

Debt-to-income ratio 480

Debt-to-income ratio Marketing Equity Loans 480

Housing Wire

AUGUST 8, 2024

“So, say it gets rolled into their mortgage or they have to get another loan to pay it off. That gets rolled into their debt-to-income ratio, which means they look like a riskier buyer, which means their mortgage loan gets priced higher, which means they have an additional disadvantage because the cost of lending goes up for them.

Debt-to-income ratio 474

Debt-to-income ratio Marketing Mortgages Days on market 474

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.

Debt-to-income ratio 397

Debt-to-income ratio Loans Mortgages Lending 397

Realty Biz

FEBRUARY 22, 2024

This process is non-binding, however, a mortgage pre-approval reveals how much a lender is willing to lend you and what kind of mortgage you might be eligible to receive. Key Takeaways from this Article Gather all documentation to get pre-approved, including your SSN, proof of income, banking information, and tax forms.

Pre-approval 80

Pre-approval Debt-to-income ratio Loans Banks 80

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. “The area of focus for us right now is hiring LOs,” Lind said.

Debt-to-income ratio 385

Debt-to-income ratio Lending Loans Loan Officer 385

Housing Wire

AUGUST 5, 2022

Numerous organizations criticized the agencies for not proposing to grade banks based on data about their minority lending. Above all, we are extremely disappointed to see the lack of the explicit consideration of lending by race in a lender’s CRA rating,” wrote the St. Louis Equal Housing and Community Reinvestment Alliance.

Banks 442

Banks Debt-to-income ratio Lending Loans 442

Housing Wire

NOVEMBER 7, 2023

This implies easing inflation next year, and mortgage rates near 6% would help affordability issues caused by two things: The inflation fight has fueled the mortgage rate spike Low inventory and a steady job market have put a floor on home prices The good news is that GSEs remain committed to loan approval guidelines that help in these tough cycles.

Debt-to-income ratio 411

Debt-to-income ratio Mortgages VA loan Loans 411

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.

Closing 365

Closing Fixed-rate mortgage Debt-to-income ratio Lending 365

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for.

Pre-qualification 468

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 468

Inman

MAY 10, 2023

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

Debt-to-income ratio 155

Debt-to-income ratio Lending Mortgages Industrial 155

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.

Banks 340

Banks Debt-to-income ratio Lending Loans 340

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.

Debt-to-income ratio 408

Debt-to-income ratio Lending Pre-qualification Loans 408

Housing Wire

MAY 21, 2021

The Urban Institute regularly cites statistics showing IMBs do a better job than banks of serving underserved borrowers, as measured by metrics such as FICO scores and debt to income ratios. CRA is designed to prevent banks from diverting funds OUT of a community where they take deposits in order to lend in other communities.

Debt-to-income ratio 360

Debt-to-income ratio Banks Lending Loans 360

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.

Debt-to-income ratio 455

Debt-to-income ratio Loan Officer Loans Mortgages 455

HomeLight

NOVEMBER 21, 2023

Enter the bridge loan, a potential lifeline in this complex process. In this post, we’ll provide tips and insights about bridge loans in Pennsylvania, and how to Buy Before You Sell. If you need assistance navigating the use of a bridge loan in Pennsylvania, HomeLight encourages you to reach out to your own advisor.

Equity 111

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

Realty Biz

APRIL 5, 2022

However, FHA and VA loans are the only two mortgage loan programs that allow borrowers during Chapter 13 Bankruptcy to be eligible for a home mortgage. We will cover and discuss qualifying for an FHA and/or VA loan during Chapter 13 Bankruptcy. Lending guidelines on FHA and VA loans are almost identical.

Bankruptcy 120

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

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?

Hard money loan 112

Hard money loan Finance Debt-to-income ratio Home sale contingency 112

Maximum Exposure Real Estate

AUGUST 16, 2023

During the pre-approval, lenders review financial information, such as credit score, income, and debt-to-income ratio, to determine the loan amount they are willing to lend. It states on the letter how long the pre-approval is valid, typically around 90 days.

Pre-approval 98

Pre-approval Debt-to-income ratio Mortgages Lending 98

Housing Wire

MARCH 10, 2023

Among the nonbanks that either have or plan to introduce HELOC loan products are United Wholesale Mortgage , Rocket Mortgage , Guaranteed Rate , loanDepot and New Residential Investment Corp. Through the market turmoil and volatility that marked much of 2022 — and is still with us today — home-equity lending expanded, however.

Equity 368

Equity Marketing Debt-to-income ratio Lending 368

Realty Biz

AUGUST 16, 2023

Home equity loans are a popular option for homeowners who want to tap into the equity they've built up in their homes. Understanding home equity loans and their associated interest rates is critical for making informed financial decisions. Home equity loans allow you to borrow a percentage of that equity, typically up to 85%.

Equity 73

Equity Loans Debt-to-income ratio Closing costs 73

Realty Biz

JUNE 7, 2023

The journey to homeownership is an exciting adventure, and securing the best interest rates on home loans is the key to unlocking this special milestone. In this blog, we will share ten powerful strategies to help you understand home loans better and ensure you secure the most favorable interest rates possible.

Debt-to-income ratio 62

Debt-to-income ratio Loans Pre-approval Lending 62

Housing Wire

MARCH 4, 2021

The CFPB just issued its final rulings on QM in December , which established a pricing threshold that effectively replaced the debt-to-income limit of 43% with a price-based approach that gives lenders relief for loans capped at 150 basis points above the prime rate. Amending the QM Rule has been a long process.

Debt-to-income ratio 237

Debt-to-income ratio Loans Lending Mortgages 237

Housing Wire

MAY 4, 2022

Various mortgage finance innovations facilitated larger loans at the same monthly payment to keep up with growing home values – which is one reason why house prices kept going up. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

Debt-to-income ratio 382

Debt-to-income ratio Equity Pre-approval Finance 382

HomeLight

JUNE 21, 2023

Some of these programs, such as Homes for Heroes , are nationwide and encompass both lending benefits and other discounts and reimbursements. Others, such as the California Employee Loan Program, or CELP , are targeted to residents in a particular state. Veterans also can combine a VA loan with this program. Learn More 4.

Loans 98

Loans Debt-to-income ratio FHA loan Closing costs 98

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan 369

FHA loan Debt-to-income ratio Pre-approval Loan Officer 369

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. Beyond a borrower’s capacity, or ability to repay the loan are credit and collateral. The results are shown in the two graphs below.

Debt-to-income ratio 416

Debt-to-income ratio Loans Mortgages Lending 416

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.

VA loan 416

VA loan Agents Pre-approval Debt-to-income ratio 416

HomeLight

JANUARY 29, 2024

But what if you can’t afford to make additional monthly payments on a traditional home equity loan, or your credit score won’t qualify for a cash-out refinance or line of credit? It’s a creative option to battle high interest rates, monthly income limitations, or hurdles like low credit scores and stringent lending criteria.

Equity 116

Equity Debt-to-income ratio Loans Closing costs 116

Housing Wire

MAY 14, 2021

A good credit score increases the likelihood of qualifying for a mortgage because it indicates to the lender that you’re more likely to make timely payments on your loan. This might result in thousands of dollars saved over the life of the loan. This can be done by obtaining a loan or line of credit, like a credit card.

Debt-to-income ratio 459

Debt-to-income ratio Loans Mortgages Lending 459

Realtor.com

FEBRUARY 2, 2023

For most people to make that dream a reality, they’ll have to get approved for a home loan. To up your chances of being approved—at a favorable rate—it’s always smart to pay down debts or pay off existing loans to the best of your ability. Getty Images Buying a home of your very own is a dream.

Debt-to-income ratio 75

Debt-to-income ratio Loans Lending Finance 75

HomeLight

SEPTEMBER 17, 2024

Looking to fund your next real estate project on Long Island with a hard money loan ? These loans can be a game-changer for projects with tight timelines, limited initial capital, or credit hurdles. A hard money lender is a private individual or company that offers short-term loans secured by real estate.

Finance 64

Finance Hard money loan Debt-to-income ratio Home sale contingency 64

HomeLight

MARCH 9, 2023

Disclaimer: This post about loan and assistance programs for low-income and minority homebuyers is provided for educational purposes and does not constitute financial advice. We’ve gathered information about assistance programs and their various options, from loans to down payment assistance. However, there is help out there.

Loans 96

Loans Debt-to-income ratio VA loan FHA loan 96

HomeLight

SEPTEMBER 1, 2022

Well, hello there, student loan debt. Millennials and Gen-Zers have on average $36,000 in student loan debt , as the Education Data Initiative reports in its 2021 study. with student loans and are worried about how that may impact your ability to buy a home. Why might that be? The best place to start? Get Started.

Debt-to-income ratio 104

Debt-to-income ratio Loans FHA loan Equity 104

Housing Wire

MAY 3, 2023

But when the Fed raises interest rates, it becomes more expensive for families to take out loans for home purchases. Impact on housing and residential lending It’s unclear what the Fed’s next decision will be, but the MBA is hoping for a rate hike pause. “If

Mortgages 423

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 423