Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. When Finance of America announced their closure, we started searching around,” Reich said. “Refis are the easier product of the industry,” Reich said. “We

Mortgages 508

Mortgages FHA loan Loan Officer Construction 508

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

Loans 439

Loans FHA loan Principal Finance 439

Housing Wire

DECEMBER 3, 2023

Mortgage originations Purchase lending dominated the market overall, driving 86% of all first-lien lending in the third quarter. In 2024, roughly 75% of originations expected to come from purchase loans. for FHA loans and 44.5% for VA loans.

Equity 469

Equity VA loan FHA loan Mortgages 469

Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

FHA loan 369

FHA loan Loan Officer Loans Mortgages 369

Housing Wire

OCTOBER 9, 2024

MBA data showed that government lending continues to represent a steady share of the mortgage market. 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2% Department of Veterans Affairs (VA) loans rose by 150 bps to account for 16.9% For the week ending Oct. of applications.

VA loan 447

VA loan Mortgages FHA loan Loans 447

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

VA loan 483

VA loan Agents Seller concession FHA loan 483

Housing Wire

SEPTEMBER 27, 2022

.” The latest layoff announcement from the country’s second-largest lender comes amid faltering home lending business. Home lending revenue dropped to $972 million in the second quarter, a sequential drop from the previous quarter’s $1.5 billion in revenue from home lending. Citi , JP Morgan Chase and U.S.

FHA loan 397

FHA loan Lending Banks Finance 397

HomeLight

AUGUST 31, 2021

The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. In 2020, only about 10% of all home loans were FHA-backed, according to the agency’s annual report. Adequate income.

FHA loan 105

FHA loan Loans Debt-to-income ratio Banks 105

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. Indeed, one West Coast LO told HousingWire that he quoted a borrower a 5.75% rate on a 30-year FHA loan for a $500,000 Southern California home purchase.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

MARCH 25, 2021

Gone are the days when you had to put 20% down to get approved for a loan to purchase a home. For example, a conventional loan lets you put as little as 3% down. An FHA loan requires as little as 3.5% One good thing about student loans is they typically don’t have as high of an interest rate as other loans.

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Debt-to-income ratio Loans FHA loan Finance 511

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. Credit scores for FHA loan borrowers could go down even lower.

Mortgages 498

Mortgages FHA loan Equity Loans 498

Housing Wire

JUNE 28, 2023

It will be required for all FHA loan applications issued on or after August 28, 2023. Requiring the SCIF can inform a lender or mortgage servicer ’s provision of services in languages other than English and in accordance with a borrower’s understanding of the homebuying and mortgage lending processes,” the FHA said in an announcement.

FHA loan 366

FHA loan Finance Title Mortgages 366

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

FHA loan 111

FHA loan Loans Pre-approval Pre-qualification 111

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?

FHA loan 104

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

Housing Wire

MARCH 12, 2024

Financing options While the proportion of Latino buyers who used Federal Housing Administration ( FHA ) loans declined between 2018 and 2022, there may have been an uptick in 2023, according to NAHREP. “But last year I had co-borrowers where the dad was jumping in, the mom jumping in. I’ve even seen grandparents jump in.

FHA loan 483

FHA loan Loans Finance Lending 483

Housing Wire

FEBRUARY 15, 2024

Looking ahead, Garg expects the Tinman platform to expand to Federal Housing Administration (FHA) loans, nonqualified mortgages (non-QM), home equity lines of credit and other consumer finance products unrelated to home lending. Better Home & Finance Holding Co. ,

VA loan 429

VA loan Loans Loan Officer FHA loan 429

Housing Wire

JANUARY 19, 2024

Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A. Representatives at the company did not immediately reply to a request for comments.

Mortgages 478

Mortgages FHA loan Loan Officer Loans 478

Housing Wire

MARCH 29, 2024

The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%). The penalties totaled $1.7

Mortgages 435

Mortgages VA loan FHA loan Lending 435

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

HomeLight

JUNE 9, 2023

Believe it or not, there are actually home sellers who offer to loan buyers the money to purchase their property: it’s called owner financing. Learn More What is owner financing? The buyer has 20%, or $60,000, to put down on the house, but their mortgage company only approves a loan of $200,000. Selling your house soon?

Finance 98

Finance Earnest money deposit Lending Loans 98

Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. .

FHA loan 370

FHA loan Mortgages Loans Lending 370

Housing Wire

APRIL 17, 2023

has a Housing Finance Policy Center that does a significant amount of research and analysis on the housing market. First, the FHA program does more loans to minorities than any other agency or private label lending source — so much so that it dwarfs the GSEs, VA , and others. But who does the FHA loans today?

Marketing 398

Marketing FHA loan Banks Lending 398

Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Let's delve deeper into these topics to guide you towards an affordable home financing solution. Can you buy a house with bad credit?

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

Housing Wire

JANUARY 31, 2023

The right product mix When Finance of America Companies closed its forward mortgage origination unit in October, Steven Reich, a former COO at Finance of America Mortgage , and some branch managers wanted to stick together as a pack. It also underwrites conventional loans and works as a marketing tool for LOs.

Loans 419

Loans Mortgages Loan Officer Pre-approval 419

Housing Wire

NOVEMBER 27, 2024

The Federal Housing Finance Agency (FHFA)’s updated pricing framework in 2023 sparked significant debate over LLPAs. producer of government loans at $37.1 year-over-year increase, according to estimates from Inside Mortgage Finance. LLPAs are fees based on a borrower’s risk profile that affect the cost of a mortgage.

Loans 418

Loans Finance Mortgages VA loan 418

Housing Wire

JUNE 21, 2022

Most financing to acquire a home in need of updating or repair is short-term and relatively expensive. Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. of all flipped homes in Q3 2021 went to FHA buyers.

Investor 436

Investor FHA loan Inspection Renovation 436

Housing Wire

DECEMBER 30, 2020

Additionally, given that the CSBS’s proposed capital and liquidity requirements are modeled after Federal Housing Finance Agency requirements, it is unclear how applying the same standards at the state level would improve safety materially.”. Nonbanks do not set the rules of lending,” Stevens said at the time.

FHA loan 395

FHA loan Lending Banks Loans 395

Housing Wire

JUNE 22, 2023

Connecticut-based lender and servicer Planet Home Lending announced on Thursday a deal that boosts its servicing portfolio, which the company claims is already above the $90 billion mark. Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC.

Closing 362

Closing Lending Loans Commercial 362

HomeLight

NOVEMBER 6, 2023

An assumable mortgage allows a buyer to purchase a home by taking over the seller’s existing mortgage loan. One reason more buyers are seeking assumable mortgages is to take advantage of lower interest rate financing. Here are some common types of mortgage loans and their assumability: 1. VA funding fee.

FHA loan 111

FHA loan VA loan Mortgages Marketing 111

Housing Wire

FEBRUARY 1, 2023

Miki Adams, president of CBC Mortgage Agency , a nationally chartered housing-finance agency, said it’s also important to note that the benefits of temporary rate buydown loans [TRBLs] can be amplified if used “in conjunction with” other down payment assistance programs.

Marketing 436

Marketing FHA loan Loans Mortgages 436

HomeLight

NOVEMBER 20, 2023

In this post, we’ll explain how this often elusive financing option can work for you, and share expert tips on how to find an assumable mortgage attached to a home you want to buy. Generally, government-backed or insured loans are the most common assumable loans. Plus, the approval process can be faster.” down payment.

FHA loan 115

FHA loan Mortgages VA loan Loans 115

Housing Wire

AUGUST 8, 2023

“While we continue the work of resetting our cost structure to align with generationally low unit volumes, we are also focused on the other pillars of Vision 2025, including capturing opportunities inherent in our strategy to expand purpose-driven lending that supports first-time homebuyers and diverse communities,” Martell said.

FHA loan 365

FHA loan Principal Lending Loans 365

Lighter Side of Real Estate

NOVEMBER 7, 2024

Here are some of the most common ways buyers were able to lock in a lower rate than other current buyers: 35% got a lower rate because the seller or home-builder offered them special financing. These typically lower your rate temporarily for the first few years of the loan. 25% refinanced after purchasing to obtain a lower rate.

Mortgages 99

Mortgages FHA loan Finance Loans 99

Realty Biz

MARCH 28, 2023

Owner-occupied homes are ideal for real estate investors because they can help you meet your investment goals in several different ways, most often through advantageous financing options. This results in you being a better risk than if you were financing a second property you wouldn’t be living in.

VA loan 77

VA loan FHA loan Debt-to-income ratio Investor 77

Rent, Buy & Sell

FEBRUARY 7, 2021

In this article, we review 3 alternative financing options for the home buyer that has bad credit. As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. What is a Bad Credit Score?

Loans 98

Loans VA loan FHA loan Hard money loan 98

Realty Biz

JULY 23, 2023

Recent changes and technological advancements are shaping the lending landscape. It's essential to grasp how 1099 income affects mortgage loans and what lenders look for when determining eligibility for home financing. Understanding the available options can help navigate the loan process successfully.

Debt-to-income ratio 72

Debt-to-income ratio FHA loan Lending Loans 72

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. Fratantoni noted that government purchase volume was down less, aided by growth in U.S. The refinance share of mortgage activity decreased to 31.1%

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VA loan Mortgages Fixed-rate mortgage Loans 461