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

JANUARY 20, 2021

And not just research on the best down payment or neighborhood to live in – you should also search the right mortgage lender. . The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. The good news, it’s easy to find a mortgage lender. Buying a home?

Debt-to-income ratio 459

Debt-to-income ratio Pre-approval Mortgages Loans 459

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. Often, traditional mortgage products don’t meet their needs.

Debt-to-income ratio 453

Debt-to-income ratio Mortgages Banks Investor 453

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

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. 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.

Debt-to-income ratio 457

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 457

Housing Wire

JANUARY 25, 2021

Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. But a recent study from tech startup Haus found that mortgage rates can also be seasonal, and borrowers can benefit from understanding that rhythm. Analyzing over 8.5

Debt-to-income ratio 529

Debt-to-income ratio Mortgages Loans Finance 529

Housing Wire

APRIL 24, 2024

Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage. So, start making money on every loan. In September 2023, to support its operations, Freedom Mortgage raised $1.3

Debt-to-income ratio 459

Debt-to-income ratio Mortgages Loans Finance 459

Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023.

Debt-to-income ratio 417

Debt-to-income ratio Mortgages Loan Officer Banks 417

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

and co-leader of the law firm’s mortgage practice group, to talk about regulatory proposals being considered by the Consumer Financial Protection Bureau. Q: What developments at the CFPB should the mortgage industry be watching? A: Probably among them is the Ability to Repay, Qualified Mortgage proposals.

Debt-to-income ratio 385

Debt-to-income ratio Loans Mortgages Industrial 385

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. That’s according to Home Mortgage Disclosure Act (HMDA) data published by the Consumer Financial Protection Bureau (CFPB) in a report released Friday.

Debt-to-income ratio 299

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 299

Housing Wire

OCTOBER 27, 2020

Your credit plays a huge part in your ability to get a mortgage. 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.

Debt-to-income ratio 423

Debt-to-income ratio VA loan FHA loan Loan Officer 423

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 470

FHA loan Debt-to-income ratio Inspection Finance 470

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

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 428

Debt-to-income ratio Loans Lending Finance 428

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? Media headlines make borrowers nervous, but lenders make loans. trillion per MBA.

Debt-to-income ratio 433

Debt-to-income ratio Mortgages VA loan Loans 433

Housing Wire

APRIL 7, 2021

In fact, depending on where you live, your monthly rent could be more expensive than your monthly mortgage. 3 underrated mortgage products to consider. A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Your Income Is Stable. Not to mention, expensive.

Debt-to-income ratio 476

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

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%. The minimum FICO score to qualify is 680.

Equity 387

Equity Debt-to-income ratio Mortgages Investor 387

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 487

Debt-to-income ratio Marketing Mortgages Days on market 487

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 434

Debt-to-income ratio Closing Loans Closing costs 434

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 mortgages were originated at interest rates of 3% or less, and rates now are more than 3 percentage points higher.

Loans 397

Loans Debt-to-income ratio Banks Mortgages 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

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

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

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. If you spot any of these issues, you’ll want to rectify them before applying for your mortgage. Avoid new debt.

Debt-to-income ratio 508

Debt-to-income ratio Banks Loans Mortgages 508

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.” Mittal spoke to HousingWire this week during the Mortgage Bankers Association (MBA)’s Annual Conference and Expo in Denver. points,” Mittal said. “In

Debt-to-income ratio 426

Debt-to-income ratio Loans Loan Officer Finance 426

Keeping Current Matters

DECEMBER 21, 2020

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Below is a list of things you shouldn’t do after applying for a mortgage. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

Debt-to-income ratio 345

Debt-to-income ratio Mortgages Loan Officer Banks 345

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

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 447

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 447

Housing Wire

SEPTEMBER 11, 2023

Eric is a seasoned mortgage professional who has built something really special with the Guaranteed Backup Contract,” Tushar Garg , the co-founder and CEO of Flyhomes, said in a statement Monday. Meadow has 25 years of mortgage industry experience. The consumer has 90 days to then close of the sale of their prior home.

Debt-to-income ratio 431

Debt-to-income ratio Sales Purchase and sale agreement Loans 431

Housing Wire

JUNE 4, 2021

For instance, whether or not you get approved for a mortgage is based on your credit score. If you have poor credit, it’s less likely a lender will approve you for a loan. Step 2: Look At Different Loan Options. First-time homebuyers have mortgage options available that don’t require a high down payment. with an FHA loan.

Debt-to-income ratio 476

Debt-to-income ratio FHA loan Loans Land 476

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 304

VA loan Mortgages Debt-to-income ratio FHA loan 304

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

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. In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios.

Mortgages 452

Mortgages Banks Debt-to-income ratio Loans 452

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. They can go online and understand their FICO score, but mortgage credit scores are different. If an interest rate is too high, borrowers might look elsewhere.

Pre-qualification 468

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

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 426

Debt-to-income ratio Lending Loans Loan Officer 426