Housing Wire

JUNE 5, 2023

Providing presentations on whether to opt for a conventional loan, Federal Housing Administration (FHA) loan, Fannie Mae ’s HomeReady or Freddie Mac ’s HomePossible loans while winning over contracts in a multiple bid environment are key to creating client stickiness, Lotsoff added.

Loan Officer 397

Loan Officer Loans Mortgages FHA loan 397

Housing Wire

SEPTEMBER 19, 2024

But the increase itself was relatively modest and the share of loans with defects now stands at 1.58%, according to a report released Thursday by ACES Quality Management. The company’s Mortgage QC Industry Trends Report analyzes post-closing quality control data taken from its Quality Management & Control software platform.

Loans 420

Loans Mortgages FHA loan Industrial 420

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents. LOs on average get about 1%.)

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

OCTOBER 16, 2024

Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. “As the mortgage industry prepares for volume to increase, we wanted to help lenders handle that volume much more efficiently,” Reggora CEO Brian Zitin said.

FHA loan 435

FHA loan Mortgages Loans Technology 435

Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

FHA loan 476

FHA loan Loans Title Mortgages 476

Housing Wire

JULY 22, 2024

Since starting his career in the real estate industry more than five decades ago, Dave Liniger , the co-founder of RE/MAX , has seen and experienced quite a bit of change and innovation. If you look at the last 50 years of the real estate industry, the rules around residential transactions have become very complex.

Industrial 454

Industrial Technology VA loan FHA loan 454

Housing Wire

NOVEMBER 4, 2020

According to Joel Kan , MBA’s associate vice president of economic and industry forecasting, borrowers made a grab for both conventional and government refi’s. percent last week, but rates for 15-year fixed-rate loans, FHA loans and jumbo loans all fell to new MBA survey lows.”. of total applications.

Fixed-rate mortgage 516

Fixed-rate mortgage Mortgages FHA loan Loans 516

Housing Wire

NOVEMBER 20, 2020

FHA loans remained the same, holding steady at 3.01% in October. From September to October, the average time to close all loans increased from 51 to 54 days, with the average time to close a refinance increasing from 54 to 57 days and average time for a purchase climbing one day to 48 days. Overall loan applications are down 9.3%

Closing 468

Closing FHA loan Mortgages VA loan 468

Housing Wire

OCTOBER 9, 2024

After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. decline in purchase loan demand. 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2%

VA loan 455

VA loan Mortgages FHA loan Loans 455

Housing Wire

DECEMBER 8, 2021

“Mortgage rates declined for the first time in a month, prompting a pickup in refinancing, with government refinances increasing more than 20% over the week,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. VA loans comprised 10.7%, increasing seven basis points. in the period.

FHA loan 468

FHA loan Mortgages VA loan Fixed-rate mortgage 468

Housing Wire

DECEMBER 15, 2020

New home applications decreased 16% from October, said Joel Kan, MBA associate vice president of economic and industry forecasting. The average loan size of new homes increased from $355,684 in October to $357,554 in November, according to the survey. Conventional loans composed 71.8% from 70,000 new home sales in October.

VA loan 493

VA loan FHA loan Loans Residential 493

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

FHA loan 427

FHA loan Loans Title Banks 427

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. In turn, thousands of loan originators could soon be looking for a new lender to hang their license. But not every LO will find a new workplace.

Loans 418

Loans Mortgages Loan Officer Pre-approval 418

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Industrial 448

Industrial MLS FHA loan Agents 448

Housing Wire

DECEMBER 3, 2023

Loans in active foreclosure inched up to 217,000, but remained more than 25% below pre-pandemic levels. About 70% of loans currently three or more payments past due are protected from foreclosure by ongoing loss mitigation efforts. In 2024, roughly 75% of originations expected to come from purchase loans. for VA loans.

Equity 468

Equity VA loan FHA loan Mortgages 468

Housing Wire

FEBRUARY 27, 2024

DKMC), has tapped industry veteran Mosi Gatling as senior vice president of strategic growth and expansion, a newly created role on NAF’s leadership team. of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex.

FHA loan 448

FHA loan Loan Officer Loans Staging 448

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.”

FHA loan 488

FHA loan Equity Loans Mortgages 488

Housing Wire

JUNE 17, 2021

On a seasonally adjusted basis, the MBA also estimates new home sales fell at an annualized pace of 4% in May, said Joel Kan, MBA’s associate vice president of economic and industry forecasting. According to the BAS, the average loan size rose from $377,434 in April to $384,000 in May ?the and VA loans provided 10.4%.

Sales 511

Sales VA loan FHA loan Loans 511

Housing Wire

NOVEMBER 16, 2021

Joel Kan, associate vice president of economic and industry forecasting at the MBA, noted in a statement that purchase activity in October was dominated by higher mortgage loan balance transactions, pushing the average new home loan size over $412,000—a record in the survey. of loan applications. FHA loans composed 13.5%

Mortgages 501

Mortgages VA loan FHA loan Construction 501

Housing Wire

OCTOBER 19, 2021

New home sales purchase activity was weaker in September, and the average loan size rose to another record high, as homebuilders continue to grapple with rising building materials costs and labor shortages. When looking at loans by product type, conventional loans made up 75.1% and RHS/USDA loans made up the final 0.5%.

VA loan 435

VA loan FHA loan Mortgages Loans 435

Housing Wire

MAY 4, 2021

In April, the Consumer Financial Protection Bureau warned the industry of its plans to keep a much closer eye on servicers as they transition borrowers out of forbearance. Consumers also reported long delays in having their loan modified so that they could resume payments on the mortgage.

Mortgages 476

Mortgages FHA loan Loans Title 476

Housing Wire

NOVEMBER 7, 2024

In second-quarter 2024, high home prices and soaring mortgage rates caused more homeowners to struggle with their loan payments. Delinquency rates include loans at least 30 days past due. The quarterly survey reviews late-payment and foreclosure rates based on loan type, geographical information and demographic data.

VA loan 369

VA loan FHA loan Mortgages Loans 369

Housing Wire

DECEMBER 23, 2020

Borrowers looking to refinance their VA and FHA loans contributed to another uptick in mortgage applications for the week ending Dec. The 30-year rate is up to 2.86% in the most recent MBA survey, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. Mortgage applications jumped 0.8%

Fixed-rate mortgage 538

Fixed-rate mortgage Mortgages FHA loan Loans 538

Housing Wire

OCTOBER 25, 2023

The share of Federal Housing Administration (FHA) loan activity inched up to 15.2% The share of Department of Veterans Affairs (VA) loan activity was 10.5%, down from 10.7% the week prior while the share of Department of Agriculture (USDA) loan activity decreased to 0.4% from 14.8% for the week ending Oct.

Mortgages 476

Mortgages VA loan FHA loan Loans 476

Housing Wire

MAY 10, 2023

That’s the entire mortgage industry shouting, “hip, hip hooray!” ” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. Did you hear that sound?

FHA loan 539

FHA loan Loans Principal Mortgages 539

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

FHA loan 497

FHA loan Loans Mortgages Equity 497

Housing Wire

JUNE 1, 2022

The Community Home Lenders Association (CHLA), backed by 41 IMBs, sent a letter urging the FHA to streamline its servicing guidelines, increase permissible lender fees for executing an assumption of an FHA loan, and make changes to FHA’s condo rules. 55% and get rid of its life of loan premium policy.

FHA loan 397

FHA loan Loans Mortgages Banks 397

Housing Wire

MARCH 29, 2024

The Consumer Financial Protection Bureau (CFPB) this week released its 2023 Consumer Response Annual Report , offering an overview of consumer complaints in a variety of industries overseen by the bureau. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

Mortgages 449

Mortgages VA loan FHA loan Lending 449

Housing Wire

JANUARY 4, 2023

With a focus on purchase mortgages through referral sources, Reich aims to close $1 billion in loan origination volume in 2023 through his division alone. “Refis are the easier product of the industry,” Reich said. “We We specialize in marketing for purchases.”.

Mortgages 508

Mortgages FHA loan Loan Officer Construction 508

Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

VA loan 435

VA loan FHA loan Fixed-rate mortgage Loans 435

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

NOVEMBER 24, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that purchase activity increased for the third straight week, as housing demand remains robust, even as the housing market approaches the typically slower holiday season. VA loans consisted of 10.3% Refi represented 63.1%

Mortgages 459

Mortgages VA loan FHA loan Fixed-rate mortgage 459

Housing Wire

MAY 5, 2021

The FHFA will also require that lenders provide a maximum $500 credit for an appraisal if the borrower is not eligible for an appraisal waiver, which the GSEs will reimburse to the lender once the loan is sold to them. Additionally, the FHFA will waive its adverse market refinance fee for borrowers with loan balances at or below $300,000.

FHA loan 514

FHA loan Loans Finance Mortgages 514

Housing Wire

AUGUST 14, 2024

But the industry is not yet out of the woods, said Todd Sheinin, the Maryland-based vice president of strategy and development at Primary Residential Mortgage Inc. “As August is generally a slower time for business in the mortgage industry and this year is no different, LOs told HousingWire.

Mortgages 468

Mortgages Loan Officer FHA loan Loans 468

Housing Wire

AUGUST 15, 2024

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. Department of Veterans Affairs (VA) loans.

Mortgages 473

Mortgages VA loan FHA loan Staging 473

Housing Wire

DECEMBER 18, 2024

Market data at HousingWire ‘s Mortgage Rates Center showed an average fixed rate of 6.87% for 30-year conforming loans on Wednesday, a slight increase from the week ending on Dec. ” Refinance application activity across all loan types decreased 3% week over week, although it was still 41% higher compared to the same week in 2023.

VA loan 390

VA loan Mortgages FHA loan Loans 390

Housing Wire

AUGUST 11, 2023

“Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments,” Marina Walsh, the MBA’s vice president of industry analysis, said in a statement. The percentage of loans on which foreclosure actions were started in the second quarter fell by 3 basis points.

FHA loan 370

FHA loan Mortgages Loans Residential 370