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Better launches fully digital VA loan with no minimum down payment

Housing Wire

Department of Veteran Affairs (VA) loans through its Tinman platform. We’ve been working toward launching a VA product for the past two years,” Vishal Garg, founder and CEO of Better, said in an interview with HousingWire. Better’s rate for VA loans was 6.375% as of Tuesday afternoon, the company said.

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High mortgage rates sideline homeowners from tapping home equity: ICE

Housing Wire

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Indeed, in recent quarters, equity withdrawal rates have been running at less than half their long-run averages. for FHA loans and 44.5% for VA loans.

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Here are the 2025 Tech100 Mortgage Honorees

Housing Wire

Now in its 13th year, the Tech100 program serves as a trusted resource for housing professionals, providing a definitive list of the industrys top technology providers. These companies are at the forefront of solving the biggest challenges mortgage professionals face every day. Check out the full list of this years honorees below.

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Lenders pick up the pace in closing mortgages

Housing Wire

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The average interest rate for all loans was 3.48% in April 2020.

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Better narrows loss in 2023, aims to reach profitability soon

Housing Wire

The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform. The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Better posted a GAAP net loss of $59.5

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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.

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A look at the mortgage hot topics for 2024

Housing Wire

mortgage delinquencies — which include conventional, FHA and VA loans — are still near record lows of 3.37% per the MBA. equity in the American housing system. I think so because total U.S. housing value is now $44.5 trillion per Urban Institute , and total mortgages outstanding are $13.9 trillion per MBA.