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

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. HousingWire: What factors are contributing to borrowers falling out of the Agency market?

Debt-to-income ratio 456

Debt-to-income ratio Mortgages Banks Investor 456

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

Debt-to-income ratio Mortgages Loans As-is 523

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 399

Debt-to-income ratio Loans Mortgages Industrial 399

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

Debt-to-income ratio 488

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

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. mortgage market in 2023, up from 14.3% of the U.S. in 2022, according to HUD.

FHA loan 476

FHA loan Debt-to-income ratio Inspection Finance 476

Housing Wire

MARCH 22, 2023

HousingWire: How is today’s market shaping the need for a better customer experience particularly when it comes to closings? We’ve seen savings of up to 30% in difficult markets like Texas and Florida. 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 432

Debt-to-income ratio Loans Lending Finance 432

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

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 458

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

Debt-to-income ratio Industrial Mortgages Loans 541

Housing Wire

APRIL 7, 2021

A homebuyer’s guide to a competitive housing market. And unfortunately, prices are only going to continue to rise as the housing market remains strong. Your Income Is Stable. A stable income means you’re more likely to be approved for a loan , than someone with an unstable income. How are your finances?

Debt-to-income ratio 476

Debt-to-income ratio Fixed-rate mortgage Finance Loans 476

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

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

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

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

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 370

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 370

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

JUNE 4, 2021

In this market where homes are selling like hot potatoes, it might seem like everyone can afford to buy a house, but that’s not true. And it doesn’t help that we’re living in a seller’s market where prices keep going up. A homebuyer’s guide to a competitive housing market. Step 2: Look At Different Loan Options.

Debt-to-income ratio 476

Debt-to-income ratio FHA loan Loans Land 476

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 KBRA seems to think so as well.

Marketing 394

Marketing Debt-to-income ratio Loans Mortgages 394

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. An updated market outlook from Zillow expects seasonally adjusted home values to increase by 3.7% Analyzing over 8.5

Debt-to-income ratio 529

Debt-to-income ratio Mortgages Loans Finance 529

Housing Wire

JANUARY 21, 2022

Digital mortgage platform MAXEX , backed by investment from financial-services giant JPMorgan , sees a bright future in the ESG market. Originator interest in the Opportunity and Sustainable programs helped ESG loans make up 26% of loan volume traded through the exchange in November. “As Roelof Slump, managing director of U.S.

Marketing 418

Marketing Debt-to-income ratio Loans Investor 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 392

Equity Debt-to-income ratio Mortgages Investor 392

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

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. trillion in 2022.

Debt-to-income ratio 431

Debt-to-income ratio Lending Loans Loan Officer 431

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 434

Debt-to-income ratio Mortgages VA loan Loans 434

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. Source: AEI Housing Center, www.AEI.org/housing.

Debt-to-income ratio 448

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

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. But “instead, Richards crumbled.”

Debt-to-income ratio 434

Debt-to-income ratio Loans Mortgages Technology 434

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

Debt-to-income ratio Investor Loans Principal 370

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. For years, the dominant market narrative defining these generations has been digital-first experiences and poor financial habits. Creative paths to homeownership in a challenging market.

Debt-to-income ratio 459

Debt-to-income ratio Loan Officer Loans Mortgages 459

Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HousingWire: What is the current home insurance market like? In 2022, property and casualty insurers recorded a combined ratio of 102.4%

Marketing 370

Marketing Debt-to-income ratio Loan Officer Mortgages 370

Housing Wire

MARCH 24, 2021

One key issue is the PSPA amendment that limits Fannie Mae and Freddie Mac from buying single-family loans secured by investment properties or second homes. The MBA notes that the PSPA’s lack of clarity may have already generated negative market impacts, outlining four specific areas of concern: 1.

Debt-to-income ratio 418

Debt-to-income ratio Purchase and sale agreement Loans Principal 418

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. Unlike banks, IMBs don’t have access to Federal Home Loan Bank advances that help banks fund mortgage loans.

Debt-to-income ratio 423

Debt-to-income ratio Banks Lending Loans 423

Housing Wire

MARCH 30, 2021

The final rule 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. Presented by: Proctor Loan Protector. “As

Debt-to-income ratio 475

Debt-to-income ratio Loans Mortgages Lending 475

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 418

Debt-to-income ratio Loans Mortgages Lending 418

Housing Wire

NOVEMBER 4, 2024

By making an offer of compensation, sellers communicate to buyers, as a marketing tactic, that their transaction costs may be reduced. They will continue to charge the highest price the market will bear, and leave buyers with an added up-front cost. High housing prices are caused by a housing shortage.

Debt-to-income ratio 321

Debt-to-income ratio Agents VA loan MLS 321

Housing Wire

OCTOBER 29, 2021

LendingLife is a daily digest of the most important news and commentary edited and curated exclusively for mortgage loan originators. Asked pointedly about whether he supported the rule, Chopra answered “I don’t know,” and changed the subject to how the CFPB could spur refinances in the market. Join the community ! Hello, LOs!

Debt-to-income ratio 353

Debt-to-income ratio Loans Mortgages Industrial 353

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. The Fed report is a measure of loan balances, not originations.) “The rebranded as Rithm Capital ).

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

MAY 4, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Homes that reach the market sell quickly, bidding wars are the new normal and the investor share of sales continues to rise.

Debt-to-income ratio 397

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