Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. In January, ICE’s conforming 30-year fixed mortgage rate lock index showed rates averaging 6.6%.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

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. “Now

Debt-to-income ratio 488

Debt-to-income ratio Marketing Mortgages Days on market 488

Housing Wire

MAY 3, 2023

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. The Fed’s move on Wednesday was well anticipated and should not cause a major shift in mortgage and other interest rates, experts noted.

Mortgages 448

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

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. Rocket Mortgage began offering the recently revamped BorrowSmart Access program in March.

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

NOVEMBER 7, 2023

And how should mortgage firms rethink tech strategy? Below I run down these hot topics and look forward to going deeper with fellow mortgage CEOs on a HousingWire webinar December 5. What’s next for the inflation fight and mortgage rates? trillion per Urban Institute , and total mortgages outstanding are $13.9

Debt-to-income ratio 435

Debt-to-income ratio Mortgages VA loan Loans 435

Housing Wire

MAY 21, 2021

The Community Home Lenders Association can’t speak for other nonbank sectors — but applying CRA to independent mortgage bankers seems like a solution in search of a problem. Therefore, the mortgage questions federal policymakers should be asking are: 1) Why do IMBs have a much better mortgage access to credit record than banks? (2)

Debt-to-income ratio 456

Debt-to-income ratio Banks Lending Loans 456

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. Riches in the niches. trillion in 2022.

Debt-to-income ratio 434

Debt-to-income ratio Lending Loans Loan Officer 434

Housing Wire

MARCH 16, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications. No mortgage insurance will be required. We are going to see an increase in some of the non-QM lending. 1, 2022.

Banks 397

Banks Loans Debt-to-income ratio Lending 397

Housing Wire

FEBRUARY 5, 2024

Recent market trends — including an improvement in mortgage rates, housing affordability and potential refinance opportunities — suggest positive signs for the real estate market this year, according to February’s Mortgage Monitor report from Intercontinental Exchange (ICE). Mortgage rates held at 6.71% as of Jan. million to 3.8

Debt-to-income ratio 482

Debt-to-income ratio Marketing Equity Loans 482

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 448

Banks Debt-to-income ratio Lending Loans 448

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. Taylor Stork , the president of CHLA and the chief operating officer of Developer’s Mortgage Co.

Debt-to-income ratio 434

Debt-to-income ratio Loans Lending Finance 434

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

Housing Wire

MARCH 30, 2021

They can go online and understand their FICO score, but mortgage credit scores are different. 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. “Consumers have access to credit scores, more than ever,” Hydrew said.

Pre-qualification 468

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

Housing Wire

AUGUST 26, 2024

When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio. Mr. Cooper estimates it will hold about $132 billion in mortgages at 6% or higher once the acquisition is finalized. billion in debt.

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

Housing Wire

MARCH 4, 2021

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022. “At But Fannie Mae and Freddie Mac are not bound to this requirement, a condition known as the QM Patch.

Debt-to-income ratio 338

Debt-to-income ratio Loans Lending Mortgages 338

Housing Wire

JUNE 29, 2022

As market volume dips and pent-up demand builds, 61% of millennials and Gen Zs who intend to buy a home plan to apply for a mortgage this year. As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies.

Debt-to-income ratio 459

Debt-to-income ratio Loan Officer Loans Mortgages 459

Housing Wire

MARCH 30, 2021

“At a time when so many consumers are struggling and at risk of losing ground, particularly Black and Hispanic consumers, we need to do all we can to help people stay in their homes and to ensure the availability of responsible, affordable mortgages,” said CFPB Acting Director David Uejio in March. “In

Debt-to-income ratio 476

Debt-to-income ratio Loans Mortgages Lending 476

Housing Wire

OCTOBER 21, 2020

The Consumer Financial Protection Bureau appears to have lost an opportunity to correct a nagging issue in its definition of a qualified mortgage. 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.

Debt-to-income ratio 418

Debt-to-income ratio Loans Mortgages Lending 418

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. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

Debt-to-income ratio 397

Debt-to-income ratio Equity Pre-approval Finance 397

Housing Wire

DECEMBER 4, 2024

After hitting a historic low point in 2023, mortgage delinquency rates have been climbing rapidly in recent quarters, particularly within the Federal Housing Administration (FHA) portfolio. ICE Mortgage Technology reported a national delinquency rate of 3.48% in September, up from 3.29% a year earlier. next year,” Walsh said.

VA loan 305

VA loan Mortgages Debt-to-income ratio FHA loan 305

Housing Wire

JUNE 9, 2023

More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. I think it comes down to a core principal: IMBs only do mortgages. Unlike banks, they don’t do auto loans, credit cards, student loans, business lending, lines of credit and more.

Banks 370

Banks Debt-to-income ratio Lending Loans 370

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. With an anticipated doubling in market share in 2022 , non-QM products are top of mind for almost every mortgage industry professional.

Debt-to-income ratio 418

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

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. So when that happens, you don’t originate, you don’t lend at par for something at 88. Self-employed borrowers take advantage of the tax laws,” said Dodson, who runs Mortgage Capital Advisors.

Debt-to-income ratio 459

Debt-to-income ratio Loans Banks Loan Officer 459

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. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 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. Bottom Line.

Debt-to-income ratio 304

Debt-to-income ratio Lending Equity Mortgages 304

Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. Obviously to anyone in the business that’s a big deal given that FICO is a threshold data point that determines eligibility for a mortgage.

Debt-to-income ratio 448

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

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. By taking on large amounts of debt just before they apply for a mortgage loan, Ulzheimer said, a home loan applicant may affect how a lender evaluates their application.

Debt-to-income ratio 459

Debt-to-income ratio Loans Mortgages Lending 459

Housing Wire

DECEMBER 15, 2022

Mortgage lenders, already reeling from a downturn in the mortgage market , now face yet another wave of woe in the form of a huge volume of loan-repurchase requests stemming, in large part, from alleged violations of loan-sale pacts inked with Fannie Mae and Freddie Mac during the boom years of 2020 and 2021.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 370

Housing Wire

APRIL 4, 2022

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. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 397

Marketing Debt-to-income ratio Loans Mortgages 397

Housing Wire

AUGUST 23, 2023

According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. Better wants to sell this platform to other companies, becoming a “mortgage-as-a-service” company or a white-label provider of mortgage tech, Garg said. ” And what is Better.com best at?

Debt-to-income ratio 370

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

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. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 418

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

Housing Wire

JANUARY 21, 2022

ESG securities such as bonds are backed by collateral, like mortgages, that can be defined as meeting environmentally sustainable, socially responsible, or good governance criteria. Digital mortgage platform MAXEX , backed by investment from financial-services giant JPMorgan , sees a bright future in the ESG market.

Marketing 418

Marketing Debt-to-income ratio Loans Investor 418

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 158

Debt-to-income ratio Lending Mortgages Industrial 158

Marco Santarelli

FEBRUARY 7, 2025

While market adjustments are always possible, the key differences in supply and demand, lending practices, and overall market psychology make a repeat scenario highly unlikely. Lending Standards: A Post-Crisis Reformation 2008: Lax lending standards were a major culprit. Thankfully, the answer is a resounding no.

Pre-approval 87

Pre-approval Marketing Debt-to-income ratio Lending 87

Realtor.com

NOVEMBER 2, 2020

While freelancing undoubtedly has its perks, helping you get a mortgage is not one of them. Since COVID-19 started tearing through the country in March, we’ve heard reports of freelancers having an even harder time getting approved for mortgages. Getting a mortgage as a freelancer (pre-coronavirus). What’s changed. Yes and no.

Debt-to-income ratio 144

Debt-to-income ratio Pre-approval Mortgages Banks 144