Housing Wire

SEPTEMBER 16, 2021

Over half of non-homeowning millennials (60%) say student loan debt is delaying them from purchasing a home, making them the population most affected by student debt , according to the National Association of Realtors’ 2021 impact of student loan debt report.

Loans 418

Loans Debt-to-income ratio Mortgages As-is 418

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. The product is available for loans up to $3 million and up to 90% loan to value. No mortgage insurance will be required.

Banks 397

Banks Loans Debt-to-income ratio Lending 397

Housing Wire

SEPTEMBER 10, 2020

They’re centering on – there’s been a desire to move away from the so-called GSE Patch QM which is the Qualified Mortgage for loans that are held for sale to Fannie Mae and Freddie Mac that is scheduled for sunset on Jan. There are two proposals that came out in June. Q: What about the other proposals? But there would be other factors.

Debt-to-income ratio 401

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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

AUGUST 18, 2020

The Consumer Financial Protection Bureau is proposing a new category of qualified mortgages called Seasoned QM, which would require loans to meet certain performance requirements over a 36-month seasoning period. During the seasoning period, creditors would have to hold these loans on portfolio.

Debt-to-income ratio 523

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Housing Wire

OCTOBER 27, 2020

It influences what loans you’re eligible for, how much you can take out, and how much you’ll pay in interest over the life of your loan. Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means. Myth 2: You can’t buy a house if you have lots of student loan debt.

Debt-to-income ratio 434

Debt-to-income ratio VA loan FHA loan Loan Officer 434

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 457

Debt-to-income ratio Mortgages Banks Investor 457

Housing Wire

MARCH 22, 2023

An affordable home insurance policy not only means lower monthly payments, but also improved debt-to-income ratio and more money to put towards home improvements, property taxes or closing costs. In addition to finalizing a loan, there’s selecting movers, setting up utilities and more.

Debt-to-income ratio 435

Debt-to-income ratio Closing Loans Closing costs 435

Housing Wire

SEPTEMBER 17, 2024

. “There’s been an explosion in high-DTI lending since I left FHFA,” he said, pointing to the fact that some Federal Housing Administration (FHA) borrowers have a 57% debt-to-income ratio. DTIs on Fannie- and Freddie-backed loans have also risen, he said. “What we saw during COVID was the No.

Debt-to-income ratio 433

Debt-to-income ratio Loans Lending Mortgages 433

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 459

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 459

Housing Wire

APRIL 7, 2021

Your Income Is Stable. A stable income means you’re more likely to be approved for a loan , than someone with an unstable income. Because of this, today’s lenders are more than willing to work with potential first-time homebuyers who have debt, just as long as their debt-to-income ratio (DTI) isn’t too high.

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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.

Debt-to-income ratio 541

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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.

FHA loan 474

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Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

Housing Wire

JULY 29, 2022

Net revenues increased by $200 million in the first six months of the year compared to last year, thanks to higher base guarantee fee income, an increase in the size of Fannie Mae’s guaranty book of business and higher income from portfolios. The share of loans with credit scores below 680 grew to 9%, up from 6% this time last year.

Debt-to-income ratio 397

Debt-to-income ratio Loans Mortgages Finance 397

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 370

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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. According to Middleman, Freedom’s strategy allows the company to have a 30 basis-point cost to produce a loan. Guess what?

Debt-to-income ratio 459

Debt-to-income ratio Mortgages Loans Finance 459

Housing Wire

OCTOBER 10, 2024

In November 2023, Wells Fargo sued LoanSnap for $431,511 in a district court in Minnesota, alleging breach of contract in selling a mortgage that did not meet contractual requirements, such as excessive and unsupported debt-to-income ratios. The total judgment in these cases is more than $1.1

Debt-to-income ratio 418

Debt-to-income ratio Mortgages Loan Officer Banks 418

Housing Wire

DECEMBER 13, 2024

The decline was sharper for refinances when compared with purchase loans, according to the report. Most of the refinance originations left in the market were a small number of cash-out refinance loans. Despite rising rates that fueled this increase, debt-to-income ratios did not see a significant change in the same period.

Debt-to-income ratio 316

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 316

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 482

Debt-to-income ratio Marketing Equity Loans 482

Housing Wire

NOVEMBER 12, 2020

Not only does a prime credit score improve your chances of getting approved for a mortgage, but it also helps you secure a lower interest rate, too — and that means a more affordable loan on the whole. Avoid new debt. If a mortgage loan is on your radar, then avoid applying for new credit cards, loans or other debts.

Debt-to-income ratio 508

Debt-to-income ratio Banks Loans Mortgages 508

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.

Debt-to-income ratio 529

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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.

Debt-to-income ratio 431

Debt-to-income ratio Loans Loan Officer Finance 431

Housing Wire

SEPTEMBER 11, 2023

He most recently served as the president of troubled, largely defunct retail lender Celebrity Home Loans. In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships. Meadow has 25 years of mortgage industry experience.

Debt-to-income ratio 434

Debt-to-income ratio Sales Purchase and sale agreement Loans 434

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

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Housing Wire

JUNE 4, 2021

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. First, figure out our total monthly debts. each month?

Debt-to-income ratio 476

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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. “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

Bigger Pockets

NOVEMBER 9, 2023

Understanding your debt-to-income (DTI) ratio is crucial for making wise investment decisions. Your DTI impacts your ability to qualify for loans, lock in low interest rates, and take advantage of the best financial deals. A high DTI ratio means you are carrying a lot of debt and are a potential risk to lenders.

Debt-to-income ratio 131

Debt-to-income ratio Loans 131

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.

Debt-to-income ratio 418

Debt-to-income ratio Loans Mortgages Industrial 418

Housing Wire

NOVEMBER 1, 2024

According to Davis, rising home prices have led homeowners to tap into their equity for purposes such as debt consolidation , home renovation and student loan repayment. The Deephaven HELOC has a maximum loan size of $400,000 and a max loan-to-value (LTV) ratio of 85%.

Equity 393

Equity Debt-to-income ratio Mortgages Investor 393

Housing Wire

NOVEMBER 2, 2023

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange.

Debt-to-income ratio 434

Debt-to-income ratio Loans Mortgages Closing 434

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 435

Debt-to-income ratio Mortgages VA loan Loans 435

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.

Debt-to-income ratio 432

Debt-to-income ratio Lending Loans Loan Officer 432

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

Debt-to-income ratio 448

Debt-to-income ratio Loans FHA loan Fixed-rate mortgage 448

Housing Wire

APRIL 27, 2022

Amid a challenging time for would-be homebuyers, FinLocker released an updated web experience that aims to make it easier for consumers to see their progress in qualifying for a mortgage loan. The main feature of the firm’s web v3.0 FinLocker v3.0

Debt-to-income ratio 368

Debt-to-income ratio Mortgages Loans Banks 368

Housing Wire

MARCH 23, 2021

One emerging form of fraud we have seen plaguing our industry has nothing to do with the loan manufacturing process, but rather with the labor used to generate the loans. Given the historic volatility of 2020 (driving loan demand) and the search for elusive industry experience, underwriters have become a prized catch.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

FEBRUARY 1, 2022

The recent offering , CAS Series 2022-R02, involves transferring loan-portfolio risk to private investors via a $1.2 billion note offering backed by a reference pool of 149,393 residential mortgage loans valued at $44.3 trillion in single-family mortgage loans, measured at the time of the transaction. billion.

Debt-to-income ratio 370

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