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NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan 448
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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 448
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Why CAR campaigned for California’s Proposition 19

Housing Wire

Even when the inherited property is being used as a principal residence, if it is sold for $1 million more than the property’s taxable value, the property assessment will increase. For example, senior citizens don’t have to “succumb to a reverse mortgage” and can instead sell their home and retain equity, she said.

VA loan 431
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How to stay competitive with specialty mortgage products heading into 2023

Housing Wire

HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market. Equity can be used for any number of purposes, including home improvements. Lee Smith: Definitely.

Mortgages 370
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For the first time since April, forbearances fall below 3 million

Housing Wire

million homeowners remain in COVID-19-related forbearance plans, representing $614 billion in unpaid principal. In the week prior, portfolio-held and private labeled security loans were largely responsible for the slight increase, with forbearance share gaining to 7.3% for a total of 28,000 new loans in forbearance. As of Oct.

Loans 353
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The MSR sector continues to shine, but there is a looming concern

Housing Wire

Unlike Fannie and Freddie, however, Ginnie does not purchase loans. Ginnie guarantees only the principal and interest payments to purchasers of its bonds, which are sold worldwide. The main mitigating factor is the still-huge amount of equity most buyers have in their homes. billion; Home Point Financial Corp., billion, 6.2%

Principal 334
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Today’s Mortgage Rates March 31, 2025: A Slight Drop Offers Opportunity

Marco Santarelli

Let's quickly touch on the different types of loans listed. Fixed-rate mortgages (like the 15-year, 20-year, and 30-year options) keep the same interest rate for the entire loan term. This means your principal and interest payment never changes, offering predictability which many homeowners value.