Housing Wire

NOVEMBER 10, 2023

It is worth noting that some buyers are using equity from the sale of their previous home to make a relatively larger down payment on their new purchase. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. in April 2023.

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FHA loan VA loan Mortgages Loans 468

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. However, a silver lining in the subdued housing market is the strength in new-home sales. They were withdrawing volatility from the market, and they were lowering rates to benefit consumers.

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Housing Wire

OCTOBER 19, 2023

By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% We are paying off her current mortgage balance of $280,000 while maintaining more than $200,000 in home equity,” said Anderson, who runs the mortgage broker shop Rancho Capital Home Loans. mortgage rate at the end of August. “At

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Mortgages FHA loan Equity Loans 497

Housing Wire

OCTOBER 16, 2024

The locations of households that have received FHA-backed mortgages have been studied far less, HUD explained. If federal homeownership assistance programs follow national trends, we would expect FHA loans to be associated with whiter and lower-poverty census tracts.”

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Housing Wire

MARCH 25, 2021

housing market, as well as the need to increase access to affordable mortgage options.” Mortgage insurance is required on all FHA loans, but the cost varies. If a lender does require PMI, buyers can cancel the policy once there’s 20% equity in your home. “Private MI is a great fit for them.”. .”

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Housing Wire

DECEMBER 27, 2022

FHA Commissioner Julia Gordon. The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Over the past 14 years, FHA has insured 9.1

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Housing Wire

FEBRUARY 16, 2023

While recent indicators pointed to resilience in the job market, the MBA forecasts slower hiring and rising unemployment, with the interest rates hitting 5.2% Nonfarm payrolls increased by 517,000 jobs in January from December — far higher than the 187,000 market estimate. by the end of 2023. The unemployment rate declined to 3.4%

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Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. It is crazy to think we are seeing these four things happen in the housing market considering that even in March of this year we were seeing bidding wars accelerate before mortgage rates rose.

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Housing Wire

FEBRUARY 15, 2024

Benefits of owning and building equity Of the various DPA options available — including government-sponsored DPA programs, nonprofit-driven programs and employer-assisted programs — Federal Housing Administration (FHA) loans layered with a DPA benefit have grown in popularity. It’s really about access to credit.

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Housing Wire

JANUARY 17, 2024

“My question would be do you think there could be a scenario where FHA mortgage insurance premiums could follow a model that is similar to the private mortgage insurance [market] where, after a period of time you get equity in the home [that then] drops the monthly cost? Let’s say I have more than 20 or 25% equity in my house.

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Loans FHA loan Equity Mortgages 488

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based based think tank Urban Institute to hear their takes. So it’s kind of a mixed message,” he explained.

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FHA loan Loan Officer Loans Mortgages 370

Housing Wire

AUGUST 15, 2024

homeowners are struggling to stay in their homes, and market conditions theoretically put the most heat on those who bought after mortgage rates rose. On an annualized basis, late-payment rates increased 35 bps for conventional loans, 165 bps for Federal Housing Administration (FHA) loans and 93 bps for U.S.

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Mortgages VA loan FHA loan Staging 473

Housing Wire

SEPTEMBER 21, 2020

The housing and mortgage markets have been the rare bright spots in an otherwise fragile economy brought forth by the ongoing COVID-19 pandemic. Millions of homeowners still have a sizeable incentive to refinance, given the difference between the rate on their current loan and available market rates.

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Housing Wire

FEBRUARY 1, 2023

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. In terms of acceptance in the secondary market of these TRBLs, which is key to ensuring lender liquidity, the jury is still out.

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Housing Wire

MAY 5, 2022

This article is part of our housing market update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Demographics still point towards a market with strong demand – the largest cohort of millennials, the largest generation in U.S. Exacerbating things further, inflation at 8.5%

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Housing Wire

MAY 25, 2023

However, its monthly production declined by a third during this period when the market faced surging mortgage rates and low inventory levels. The company had 53 active loan officers and 30 branches, per the Modex data. According to its website, Colonial offered fixed-rate loans, Federal Housing Administration (FHA) loans, U.S.

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Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Through Guild Holdings, the lender’s management and the private equity investors planned to issue 8.5

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Housing Wire

AUGUST 2, 2024

A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles. ”

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Housing Wire

DECEMBER 9, 2024

After a year filled with rate swings, unpredictable markets and a bit of drama (thank you, inflation), the real estate world is ready for a fresh start. Whether youre looking to buy your first home, upgrade or simply gain clarity on the current market , this guide is your insiders playbook to tackle 2025 with confidence.

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Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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Housing Wire

FEBRUARY 15, 2024

VA loans are 12% of the mortgage market,” Garg said. “So, So, we are hoping that we can get to the industry average, at least having 10% of our volume to be VA loans in 2024.” Better has a small team of employees dedicated to VA loans, which Garg said will grow in correspondence to the company’s market share in the segment.

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Housing Wire

OCTOBER 21, 2022

The parent company of mortgage servicing rights clearinghouse Marlin Mortgage has struck a deal to acquire 100% of the outstanding equity of direct-to-consumer mortgage lender LoanFront. In acquiring New Jersey-based LoanFront, private equity-backed Marlin would be absorbing a lender that retains its MSRs and focuses on FHA originations.

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Housing Wire

MARCH 14, 2024

These include the integration of forward mortgage professionals into the reverse mortgage business, how the Home Equity Conversion Mortgage (HECM) limit for 2024 could end up impacting the industry, and the openness of both clients and referral partners to reverse mortgage conversations. 2024 HECM limit On Jan. 2024 HECM limit On Jan.

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Mortgages Loan Officer FHA loan Equity 445

Housing Wire

AUGUST 23, 2024

Michiels: So obviously, some of this is market specific. In some markets, like in Texas, for example, I have agent clients who are in a little bit more of a buyer’s market. In those markets, listings are starting to sit and so there is some logic to the seller offering a buyer’s agent commission.

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Housing Wire

OCTOBER 21, 2022

housing market is evolving rapidly, and housing affordability has eroded nationwide, with first-time homebuyers and lower income households that Ginnie Mae exists to serve feeling the effects most acutely,” Ginnie Mae President Alanna McCargo said in a statement Friday. “The of the Ginnie MSR market, while nonbanks held an 84.1%

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Housing Wire

JUNE 25, 2024

Ginnie Mae plays a critical role in guaranteeing securities backed by Federal Housing Administration (FHA) loans, as well as Rural Housing Service (RHS) and Veterans Affairs (VA) single family loans,” the letter stated. Additional staff is also needed to continue the goal of stabilizing the HMBS market, Ginnie Mae stated.

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Housing Wire

NOVEMBER 30, 2023

Examples of down payment assistance programs The FHA offers low down payment loans to first-time homebuyers. With an FHA loan , borrowers can put down as little as 3.5% They offer sweat equity programs and interest-free loans to help prospective homeowners achieve their dreams.

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Housing Wire

MARCH 11, 2022

Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. So real estate agents automatically get nervous [about a HECM being] an FHA loan. real estate markets.

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Realty Biz

DECEMBER 29, 2021

From finding the right agent to work with , to sorting through listings until you find your dream home, to figuring out innovative ways to keep your costs down , to outbidding all the other buyers in 2021’s red hot market, it’s easy to overlook one of the most important (and most nerve-wracking) aspects of buying a home — the financing.

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Realtor.com

NOVEMBER 28, 2022

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan. So it’s win-win all round!

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Housing Wire

NOVEMBER 13, 2020

I think the fact that homeowners are seeing so much equity appreciation is great for them. It’s also been great for the FHA. “We’ve continued to provide, record percentage of loans to first-time homebuyers and we are very strong in providing credit opportunities to minority borrowers,” Wade said to Lloyd.

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Housing Wire

MAY 15, 2023

mortgage market faced a new “ refinance boom” when mortgage rates declined by nearly 200 basis points between November 2018 and November 2020, following the Federal Reserve rate cuts that were made to remedy the economic impacts of the Covid-19 pandemic. And, the mortgage market is still recovering. ”

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Housing Wire

MARCH 10, 2022

Lakeview Loan Servicing , one of the nation’s largest issuers of Ginnie Mae securities, is making a play in the private-label securities market by sponsoring an offering backed by a pool of 2,192 Federal Housing Administration -guaranteed mortgages valued at $423.6 market share, followed by Pennymac, 11.4%.

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HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. How much house can you afford if you’re getting an FHA loan?

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FHA loan Loans Debt-to-income ratio Closing costs 104

Housing Wire

JULY 1, 2021

This will be especially true for lower-income households with FHA loans that started with very little equity to begin with due to the low-down payment requirement. The servicers and Hubzu work together to educate and guide the borrower on the sales strategies best to maximize sales price with an expedited marketing period.

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Housing Wire

JUNE 6, 2022

Leslie Rouda Smith, president of the NAR, used her own letter to the FHA to explain the trade group has been “concerned” about the pandemic’s impact on the housing market. Back in early April, the FHA introduced a proposed rule for a 40 year loan modification option.

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Keeping Current Matters

DECEMBER 7, 2021

That’s led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. The Federal Housing Administration (FHA) also increased its Conforming Loan Limits for 2022. Bottom Line.

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