Housing Wire

AUGUST 29, 2024

In the second quarter, purchase loans were the most common type of mortgage in the U.S., of all mortgages. Refis followed with 33.8%, and home-equity lending made up 17.7%. Purchase loan activity jumped 32.7% to about 546,000; and home equity line of credit (HELOC) increased 26.5% accounting for 48.5%

Mortgages 413

Mortgages Fixed-rate mortgage Lending Residential 413

HomeLight

OCTOBER 30, 2023

According to FreddieMac, The 30-year fixed-rate mortgage is preferred by almost 90% of homebuyers due to its combination of affordability and flexibility, making it the top choice. So, selling your house with one mortgage still in repayment is the norm. Get Estimate What if you took out a second mortgage?

Equity 111

Equity Loans Mortgages Fixed-rate mortgage 111

Housing Wire

FEBRUARY 15, 2024

Escrow accounts also frequently handle mortgage insurance payments as conventional loan borrowers with less than 20% equity in their homes are required to have mortgage insurance. Federal Housing Administration (FHA) borrowers must pay mortgage insurance for the life of their loan regardless of equity levels.

Fixed-rate mortgage 505

Fixed-rate mortgage Equity Mortgages Loans 505

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 456

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 456

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. mortgage industry are in the past.

Banks 469

Banks Mortgages Fixed-rate mortgage Equity 469

Housing Wire

JANUARY 6, 2021

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. But the possibility of reduced future earnings is another key reason some refinance into a 15-year loan.

Fixed-rate mortgage 528

Fixed-rate mortgage Mortgages Loan Officer Loans 528

Housing Wire

MARCH 2, 2023

Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. The 30-year fixed-rate mortgage on Thursday, March 2 touched 7.10% , up 16 basis points from 6.94 He wants to wait and see where interest rates go.” on Wednesday.

Mortgages 469

Mortgages Fixed-rate mortgage Equity Loan Officer 469

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 461

Equity Lending Fixed-rate mortgage Loans 461

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. So, it’s imperative to speak with a lender.

Renovation 398

Renovation Fixed-rate mortgage Equity Finance 398

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. .

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

JANUARY 5, 2024

A buyer who might have qualified for a $400,000 mortgage may now qualify for a $350,000-$375,000 mortgage when interest rates rise. Buyers who still qualify for their target home loan might decide to look for smaller or more affordable properties in order to maintain their monthly housing budget.

Fixed-rate mortgage 469

Fixed-rate mortgage Agents Marketing Lending 469

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 398

Equity Fixed-rate mortgage Principal Loans 398

Housing Wire

JANUARY 4, 2023

That’s because costs for borrowers were higher, reflecting the mortgage market’s response to the Federal Reserve ‘s tightening monetary policy. The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week.

Mortgages 529

Mortgages Fixed-rate mortgage Loans Equity 529

Housing Wire

FEBRUARY 6, 2023

Compared to the same time last year, the monthly mortgage payment on an averaged-priced home is 40% higher, or nearly $600 more, using a 20% down payment on a 30-year fixed-rate mortgage. On the flip side, temporary rate buydowns remained a relatively small share of originations.

Equity 398

Equity Fixed-rate mortgage Mortgages Loans 398

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages 420

Mortgages Seller concession Fixed-rate mortgage Loans 420

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 419

Equity Fixed-rate mortgage Principal Mortgages 419

Housing Wire

AUGUST 24, 2023

Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.23% as of August 24, up from last week ’s 7.09%. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time.

Mortgages 370

Mortgages Fixed-rate mortgage Banks Investor 370

Housing Wire

JANUARY 19, 2024

Courtesy of Fannie Mae Refinance mortgage origination volume will remain subdued as about 90% of outstanding Fannie Mae single-family conventional 30-year fixed rate mortgage loans currently have a note rate below 6%. “So, Of the total $1.98 trillion origination volume in 2024, $1.5 trillion in 2023.

Mortgages 541

Mortgages Fixed-rate mortgage Sales Equity 541

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgages 420

Mortgages Equity Loans Seller concession 420

Housing Wire

AUGUST 17, 2023

The top mortgage lender on the Inc. 5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. Founded in 2019, the Virginia-based lender saw a 2,230% three-year growth rate. Zap Mortgage (no.294) Trius Lending Partners (no.678), 678), InstaLend (no.769)

Loan Officer 370

Loan Officer Mortgages Fixed-rate mortgage Loans 370

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

MARCH 23, 2022

Interest in residential mortgage loans fell 8.1% for the week ending March 18 as mortgage rates rose to 4.5%, the highest level in years, according to the Mortgage Bankers Association ‘s latest survey. Higher rates have significantly impacted the refinance activity, both for conventional and government loans.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Equity 370

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans. Fixed-rate mortgages provide stability and predictability.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

FEBRUARY 26, 2024

Reverse mortgage loan originators all seem to agree that 2024 is off to a better overall start in business than a tepid 2023 might suggest. EquityAvail was launched in early 2021 , and is a single, fixed-rate mortgage that is fully disbursed at closing with a maximum amount of up to $4 million.

Marketing 444

Marketing Fixed-rate mortgage Loans Mortgages 444

Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” To get a better idea of the potential impact that HMBS 2.0

Development 453

Development Industrial Mortgages Fixed-rate mortgage 453

Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans. for 30-year fixed-rate loans.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

DECEMBER 29, 2023

“It finally seems like we are turning a corner and that’s good news after two years of the Fed’s negative perspective that we’ve heard,” Max Slyusarchuk, CEO of A&D Mortgage , said in an interview. AI can understand the loan status, a loan profile and AI can respond to the consumer.

Mortgages 477

Mortgages Loan Officer Loans Equity 477

Housing Wire

APRIL 14, 2022

.” The gulf between the average 30-year-fixed rate conforming mortgage and a 30-year jumbo, a product for wealthier borrowers, widened to 42 basis points, according to Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refinancings and additional data from the Mortgage Bankers Association (MBA).

Mortgages 450

Mortgages Fixed-rate mortgage Banks Renovation 450

Housing Wire

MARCH 9, 2023

.” Powell’s speech had an immediate impact on the mortgage market. Interest rates on home loans, which were already ticking upward, jumped last week, and it’s adding affordability challenges to the market. Jumbo loans increased to 6.79% from 6.78% in the same period.

Mortgages 398

Mortgages Fixed-rate mortgage Loans Equity 398

Housing Wire

APRIL 22, 2021

A year after issuing its first Single-Family Green Mortgage Backed Security on Earth Day 2020, Fannie Mae has now completed 25 transactions for the program, totaling $167 million in bonds backed by mortgages on newly constructed, energy-efficient homes. but are well-established in Europe.

Fixed-rate mortgage 432

Fixed-rate mortgage Finance Investor Loans 432

Keeping Current Matters

MAY 20, 2021

The level of equity homeowners have is at an all-time high. Census , over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Home Equity Report from ATTOM Data Solutions : “17.8 According to the U.S.

Equity 315

Equity Principal Fixed-rate mortgage Loans 315

Housing Wire

JUNE 6, 2022

Figure, founded in 2018 by SoFi co-founder Mike Cagney, would bring a blockchain tech platform to the merged company, which would double the lender’s capacity to fulfill loans. They will also work together to develop new products, such as a home equity line of credit (HELOC) and piggyback products. “We

Fixed-rate mortgage 420

Fixed-rate mortgage Lending Technology Loans 420

Housing Wire

FEBRUARY 11, 2022

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Economists had predicted rates would rise as the overall economy stabilized. Other indices put mortgage rates even higher. Randy Howell, president of Mortgage Power Inc.

Industrial 398

Industrial Mortgages Fixed-rate mortgage Loan Officer 398

Housing Wire

APRIL 8, 2021

Should the property increase in value over time, then you, in turn, will have built up more equity. The equity built from owning a home can extend far beyond the homeowners themselves. Like the financial equity you may build when you own a home, you’re building emotional equity for yourself and your family.

Fixed-rate mortgage 436

Fixed-rate mortgage Equity Principal Mortgages 436

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity 105

Equity Marketing Loans Mortgages 105

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. billion in loans over the first six months of 2022 — for total proceeds of $871.7 UWM’s loan production income of $296.5

Loan Officer 436

Loan Officer Loans Equity Mortgages 436

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023.

Loans 436

Loans Renovation Construction Mortgages 436