Housing Wire

FEBRUARY 13, 2025

The overall defect rate for mortgages declined across all loan types between the second and third quarters of 2024. Critical defects were found on 1.51% of all loans in the third quarter, a 17% decline from the defect rate of 1.81% in the second quarter. Income and employment was still the leading category for defects at 25%.

Debt-to-income ratio 322

Debt-to-income ratio Mortgages FHA loan Loans 322

Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. The trade groups in tandem applauded the FHA for moving to align its loss mitigation policy with other housing agencies, including Fannie Mae and Freddie Mac.

Loans 448

Loans Industrial Mortgages Real-estate owned 448

Housing Wire

FEBRUARY 6, 2025

Multistate mortgage lender Click n’ Close on Thursday announced that it’s adding a 30-year, fixed-rate conventional loan option to its SmartBuy Shared Appreciation Mortgage (SAM) program. SAM loans grant the lender a share of the home’s future appreciation in exchange for a lower interest rate.

Loans 300

Loans Closing Mortgages Technology 300

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Loans 459

Loans FHA loan Mortgages Loan Officer 459

Housing Wire

DECEMBER 9, 2024

Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. and 6%, with potential dips below 6% by mid-year.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation.

Loan Officer 418

Loan Officer FHA loan Loans Mortgages 418

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 418

Loans FHA loan Principal Marketing 418

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 431

Loans Mortgages FHA loan Industrial 431

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 435

VA loan Loans Loan Officer FHA loan 435

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

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 458

Industrial Technology VA loan FHA loan 458

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

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

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 449

FHA loan Loans Title Banks 449

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 458

VA loan Mortgages FHA loan Loans 458

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

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

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

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

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

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

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

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 370

VA loan FHA loan Mortgages Loans 370

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

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

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

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

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