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

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 458

VA loan Mortgages FHA loan Loans 458

Housing Wire

SEPTEMBER 29, 2020

Will they be able to help borrowers construct FHA loans — which have been among those hit the hardest by COVID-19? Be proactive now about balancing your lending diet, equipping your staff to handle a range of responsibilities and solidifying your brand’s presence in the marketplace. Live in the moment, but plan for the future.

Lending 461

Lending Loan Officer Branding Loans 461

Housing Wire

AUGUST 31, 2023

Mars Bank — an independent community bank in Pennsylvania — offers mortgage lending, retail and commercial banking in six locations throughout the state. Mars Bank held $520.8 million in assets as of June 30, 2023.

Banks 419

Banks FHA loan Lending Equity 419

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.

FHA loan 105

FHA loan Loans Debt-to-income ratio Banks 105

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based based think tank Urban Institute to hear their takes. So it’s kind of a mixed message,” he explained.

FHA loan 370

FHA loan Loan Officer Loans Mortgages 370

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

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

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

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

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

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 453

Mortgages VA loan FHA loan Lending 453

Housing Wire

FEBRUARY 7, 2023

of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. In a June 2022 letter, nonbank trade group Community Home Lending Association suggested increasing the lender fee to 2%, plus a $500 underwriting fee.

FHA loan 398

FHA loan Mortgages Loan Officer VA loan 398

Housing Wire

MARCH 11, 2024

Although lock counts were down on a year-over-year basis, the rate of decline is decelerating and suggests we may be nearing a floor for purchase lending in the current rate environment.” The index for Federal Housing Administration (FHA) loans rose 28 bps to 6.66%, while the U.S.

VA loan 477

VA loan FHA loan Loans Lending 477

Housing Wire

JUNE 5, 2023

Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. For first-time homeowners, having the capital for a down payment is the biggest barrier, Brok said.

Loan Officer 398

Loan Officer Loans Mortgages FHA loan 398

Housing Wire

NOVEMBER 29, 2023

The conforming loan limit increase slowed compared to 2023, reflecting the slower pace of home-price appreciation this year. The Federal Housing Administration (FHA) also announced changes to its own lending limits for forward and reverse mortgages.

Loans 448

Loans FHA loan Principal Finance 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. In addition to offering borrowers FHA loans, conventional purchase mortgages and refis, the lender specializes in retail channel construction loans, according to the firm. “We

Mortgages 508

Mortgages FHA loan Loan Officer Construction 508

Housing Wire

APRIL 10, 2023

The disproportionate surge in purchase lending pushed the refi share of the market mix down to a current cycle low of just 13%. That, combined with a recent reduction in FHA mortgage insurance premiums and a mid-month increase in the FHA-to-conforming spread, made FHA loans comparatively more attractive,” Walden said.

FHA loan 398

FHA loan Marketing Lending Mortgages 398

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 398

FHA loan Lending Banks Finance 398

Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage.

VA loan 321

VA loan FHA loan Mortgages Lending 321

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.

Debt-to-income ratio 511

Debt-to-income ratio Loans FHA loan Finance 511

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

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. I’ve even seen grandparents jump in. So, I did see that spike this year.”

FHA loan 483

FHA loan Loans Finance Lending 483

Housing Wire

NOVEMBER 21, 2022

The prior FHA rule had been in place since 1968, when the private insurance market was non-existent, and it mandated that FHA borrowers with properties in flood hazardous areas must purchase food in insurance obtained through the National Flood Insurance Program (NFIP). .

FHA loan 370

FHA loan Mortgages Loans Lending 370

Housing Wire

MARCH 13, 2023

Rate and affordability pressures continue to challenge purchase lending, driving homebuyers to alternative loan products. ” The share of locks with adjustable rates rose in February to 10.3%, while nonconforming loans – consisting of 12.2% of the total loan product mix — picked up share.

Loans 370

Loans VA loan Mortgages FHA loan 370

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. The plan is to distribute the product through its network of partners as it scales.

VA loan 435

VA loan Loans Loan Officer FHA loan 435

Housing Wire

APRIL 13, 2021

The implications of this shift touch nearly every area of mortgage lending, which in turn has implications for the wider economy.” But the top 20 metros were neck-and-neck for whether purchases or refis made up more of the lending pie. ” Despite refi activity in freefall, overall rate lock volume was up 2.5%

Mortgages 436

Mortgages Marketing FHA loan Lending 436

Housing Wire

SEPTEMBER 21, 2021

Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said. The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process. Learn more here! Presented by: iEmergent.

FHA loan 477

FHA loan Lending Equity Technology 477

Housing Wire

JUNE 28, 2023

It will be required for all FHA loan applications issued on or after August 28, 2023. The form, the Fannie Mae / Freddie Mac Form 1103, is known as the Supplemental Consumer Information Form (SCIF).

FHA loan 370

FHA loan Finance Title Mortgages 370

Housing Wire

JANUARY 19, 2024

Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A. According to the mortgage recruiting platform Modex , the company originated about $350 million in 2023, down from about $511 million in 2022 and $825 million in 2021.

Mortgages 483

Mortgages FHA loan Loan Officer Loans 483

Housing Wire

FEBRUARY 27, 2024

were conventional loans and 30.5% were FHA loans. Patty Arvielo, who founded NAF in 2003 with her husband Rick Arvielo, said that Gatling’s extensive knowledge and experience in the mortgage industry, as well as her promotion of homeownership for previously underserved populations, make her a “perfect fit” for the company.

FHA loan 450

FHA loan Loan Officer Loans Staging 450

Housing Wire

OCTOBER 11, 2024

Lending volumes remained relatively steady over the past year, which the firm tied to “continued high interest rates.” “The stability in the volumes of loans as well as the types of transactions over the last two years is reflected in the relatively steadiness of the aggregated National Mortgage Fraud Index.

Mortgages 516

Mortgages Sales Loans Lending 516

Housing Wire

APRIL 17, 2023

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? One must ask, why are the IMBs so effective with Ginnie Mae lending?

Marketing 398

Marketing FHA loan Banks Lending 398

Housing Wire

MAY 25, 2023

The company had 53 active loan officers and 30 branches, per the Modex data. According to its website, Colonial offered fixed-rate loans, Federal Housing Administration (FHA) loans, U.S. loans, adjustable rates, and home equity, among others. Department of Veteran Affairs (V.A.)

Mortgages 398

Mortgages FHA loan Loan Officer Banks 398

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. It did not admit to any wrongdoing.

Mortgages 505

Mortgages FHA loan Lending Loans 505

Housing Wire

APRIL 4, 2022

The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

AUGUST 16, 2023

HousingWire: 2023 has been rough for mortgage lending with mortgage applications down around 60%, what is CreditXpert seeing from a demand side when it comes to credit inquiries? Mike Darne: We are also seeing a major dip in mortgage credit inquiries, but it is less pronounced than what the industry is seeing in terms of applications.

FHA loan 370

FHA loan Lending Mortgages Loans 370