Housing Wire

SEPTEMBER 9, 2020

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021. Under § 1026.43(c)(2)(vii), Section 1026.43(c)

Debt-to-income ratio 461

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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. The post CFPB proposes a new category of qualified mortgages: Seasoned QM appeared first on HousingWire.

Debt-to-income ratio 523

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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 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 459

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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

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 458

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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

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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.

Debt-to-income ratio 482

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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 413

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Housing Wire

MAY 24, 2024

In fact, according to a recent study, millennials currently struggle with so much debt that 25% worry they won’t qualify for a mortgage. Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans.

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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 370

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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. In September 2023, to support its operations, Freedom Mortgage raised $1.3 compared to the previous year.

Debt-to-income ratio 459

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

FHA loan 476

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Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The company explained that the product operates as a ”hybrid between debt and equity.” home equity by the end of this year.

Equity 459

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Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept.

Debt-to-income ratio 545

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Housing Wire

APRIL 7, 2021

In fact, depending on where you live, your monthly rent could be more expensive than your monthly mortgage. A homebuyer’s guide to a competitive housing market. A homebuyer’s guide to a competitive housing market. 3 underrated mortgage products to consider. Yes, seriously.). Have you been renting for a while?

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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

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Housing Wire

JANUARY 13, 2021

One being, how much do you need to earn in a year to afford a mortgage in the U.S.? . Since home prices vary state-by-state, the salary you need to qualify for a mortgage in the U.S. A homebuyer’s guide to a competitive housing market. surged in 2020, and Chicago’s housing market was no different. Buying a home?

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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

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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. Tom Kriby: Higher interest rates and inflation have exasperated the home affordability issue. Closings can be stressful.

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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

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Housing Wire

APRIL 12, 2024

After heating up like the rest of the country, the Louisiana housing market has continued to cool since interest rates began to rise in the second half of 2022. Across the state, agents feel these rising insurance costs on top of higher mortgage rates and list prices. as of April 5, 2024 — down from 37.21 recorded in mid-February 2020.

Debt-to-income ratio 459

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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. UWM is riding that wave.

Marketing 396

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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.

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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. The dynamic has led to a repositioning of players in the market. This period was a windfall for servicers. So, they are positioned better to handle it.”

Mortgages 458

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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. First, figure out our total monthly debts.

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Housing Wire

MARCH 14, 2023

million net new Hispanic homeowner households had been added to the market, accounting for 24.4% Latinos who purchased a home with a mortgage in 2021 were under the age of 45, compared to 63.9% of non-Hispanic White buyers, according to data from the Home Mortgage Disclosure Act (HMDA). of overall homeownership growth.

Debt-to-income ratio 418

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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. The product is available for loans up to $3 million and up to 90% loan to value.

Banks 397

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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? Two key trends have emerged in this landscape. Across the U.S.,

Marketing 370

Marketing Debt-to-income ratio Loan Officer Mortgages 370

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

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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

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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.

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Housing Wire

FEBRUARY 1, 2022

billion note offering through its Connecticut Avenue Securities real estate mortgage investment conduit, or REMIC. . 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.

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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.

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Housing Wire

NOVEMBER 2, 2023

If true, that would violate federal laws, including the Dodd-Frank Act , which requires minimum standards for all mortgage products. loanDepot claims that Richards stole confidential information, including individual loan numbers, FICO scores and debt-to-income ratios. But “instead, Richards crumbled.”

Debt-to-income ratio 435

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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 436

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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.

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