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HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 446
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NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). Department of Veterans Affairs (VA) loans.

VA loan 448
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Guild’s Jim Cory on the company’s ambitious reverse mortgage rebrand

Housing Wire

The brand includes Home Equity Conversion Mortgage ( HECM ) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. Department of Veterans Affairs (VA) loans is a key element of the strategy in bringing them aboard as customers.

Mortgages 448
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Better narrows loss in 2023, aims to reach profitability soon

Housing Wire

Approximately 91% of the company’s volume last year consisted of purchase loans, with refis accounting for 5% and the remaining share coming from home equity lines of credit (HELOCs). Better has been launching digital products with its proprietary technology, including digital VA loans and a one-day mortgage product.

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Most Veterans Still Aren’t Aware of Their Loan Benefits

BAM Media

® released a report showcasing the benefits that VA loans offer to military families. of homes purchased with VA loans involved down payments of less than 10%, and 74.5% purchased with 0% down—a standout feature of VA loans. average for conforming loans. .” average for conforming loans.

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How record-low mortgage rates changed everything in 2020

Housing Wire

United Wholesale Mortgage caught headlines by offering rates as low as 2.25% for VA loans (though, to be fair, ultra-low-rate products aren’t always what they seem ). The environment also convinced a slew of mortgage lenders to go public , much to the delight of their investors, who are typically private equity firms.

Mortgages 545
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Mortgage rates plummet and everything has suddenly changed — for now

Housing Wire

.” Cutting fees for VA borrowers Patton Gade , the national director of military lending at UMortgage, said he believes the market has already priced in a September rate hike. He’s not limboing as low as possible on rates but is stacking fees on top or structuring refis to eat up equity. “Some will dazzle with a 5.2%

Mortgages 514