Housing Wire

JUNE 18, 2024

Servicers of Federal Housing Administration (FHA) loans are required to conduct inspections in a timely fashion, and any deficiencies are corrected per the Real Estate Assessment Center protocol,” Broeksmit said in the letter.

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Housing Wire

MAY 26, 2021

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 3.22% in April, the report found — up from 2.99% in March.

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Housing Wire

OCTOBER 23, 2020

The Federal Housing Administration announced on Wednesday the launch of its first automated underwriting system that will allow lenders to submit loan application data electronically for single family forward mortgages from their loan origination systems to FHA for mortgage insurance eligibility.

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FHA loan Loans Technology Mortgages 468

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.

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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.

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Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. The servicing side of the business is doing very well because those loans are simply not going to prepay for a long time. So, the servicing valuation on those loans is strong, because pre-payments are low.

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Housing Wire

AUGUST 31, 2023

“This merger ensures our customers will continue to receive access to the products, services, and technology they need while maintaining the relationship-driven, hands-on service they’ve come to expect,” Dionise said in a statement. million in origination across 205 loans over the past 12 months, Modex showed.

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Banks FHA loan Lending Equity 413

Housing Wire

DECEMBER 21, 2023

While delinquencies remain low overall, the number of delinquent loans ticked up in November, according to the latest ICE Mortgage Monitor report. Furthermore, the delinquency rate among FHA loans is at a nine-year high, and will be worth watching closely in 2024, the report said. Foreclosure starts decreased by 12.2%

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VA loan Mortgages FHA loan Staging 459

Housing Wire

SEPTEMBER 21, 2021

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. Last year, the module was introduced as a pilot with no set deadline for lenders to transition.

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FHA loan Lending Equity Technology 476

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. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgages 505

Mortgages FHA loan Lending Loans 505

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.

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Mortgages FHA loan Equity Loans 497

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

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Housing Wire

OCTOBER 27, 2020

It influences what loans you’re eligible for, how much you can take out, and how much you’ll pay in interest over the life of your loan. Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means. Myth 2: You can’t buy a house if you have lots of student loan debt.

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Housing Wire

FEBRUARY 25, 2022

The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development ’s Single Family Mortgage Asset Recovery Technology (SMART) system.

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Housing Wire

JULY 22, 2024

While the emergence of technology tools is not new to the industry, the latest wave of artificial intelligence (AI)-driven technology is unlike many others that have come before. In this role of being a trusted adviser, technology is helping us be more time efficient and be better at our jobs, but it isn’t replacing us.

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Housing Wire

JUNE 8, 2022

Those services and systems are also used for regulatory, pricing, training and other critical functions — not just loan originating and servicing, the CHLA wrote. The CHLA also said independent mortgage banks now originate more than 60% of all mortgage loans and more than 90% of FHA loans, which disproportionately serves minority borrowers.

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Housing Wire

APRIL 27, 2021

In many ways, the award-winning SIME portal makes it easy to manageyour portfolio by allowing you to view customizable dashboards and hundreds of reports 24/7, access loan level detail or the raw data at the click of a button and listen to customer-call recordings on-demand. With SIME technology, it’s easy.

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Housing Wire

MARCH 14, 2024

Lisa Moriello “Any loan officer can run a report in their own database to calculate when someone’s date of birth hits that prime age [for a reverse mortgage],” Moriello said. 1, the limit for HECM loans was increased to $1,149,825 by the Federal Housing Administration (FHA). 2024 HECM limit On Jan.

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Mortgages Loan Officer FHA loan Equity 434

Housing Wire

SEPTEMBER 13, 2024

Partial claims are designed to offer assistance to mortgage borrowers who have fallen behind on their monthly payments, allowing them to become current without impacting the terms of their original loan. The proposal would also extend the time frame for lenders to “record partial claim security instruments from 5 to 15 days,” FHA said.

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Loans Title Mortgages Design 458

Housing Wire

JULY 14, 2022

The data paints a similar picture specifically for foreclosed properties backed by FHA-insured loans, the subject of the recently announced first-look program. Over the same period (2016 to 2020), the net owner-occupancy rate for FHA foreclosures sold via auction was 57% compared to 50% for FHA foreclosures sold on the MLS.

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Realtor.com

SEPTEMBER 25, 2020

of FHA loans were seriously delinquent. FHA loans cater to borrowers who often have lower credit scores and higher debt loads. These loans, whose required down payments are as low as 3.5% “These are the loans that would be the first ones to go delinquent.” FHA loans make up about 21.2%

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FHA loan Loans Mortgages Technology 128

Real Trends

NOVEMBER 11, 2022

“With housing affordability at an all-time low and interest rates on the climb, it’s important that homeowners have alternative options to access their home equity without selling or taking on additional debt,” said Michael Gifford, CEO of Splitero , a financial technology company that helps homeowners access home equity. . USDA loans.

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HomeLight

JULY 23, 2024

A healthy credit score can help you get approved for a loan and even result in a better mortgage interest rate. However, the Federal Housing Administration (FHA) has programs that accept buyers with scores as low as 500. In fiscal year 2023, the average credit score of FHA recipients was 670, according to a U.S.

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Mortgages FHA loan Loans Finance 116

Lab Coat Agents

FEBRUARY 7, 2023

Next, consider the type of loan that’s right for you. Many different types of loans are available, so make sure you choose the one that best suits your needs. Third, you want to find an agent who uses technology to their advantage. The minimum down payment for an FHA loan is 3.5%. What Is A USDA Loan?

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AAOA

FEBRUARY 6, 2025

Get a Free Multifamily Loan Quote Access Non-Recourse, 10+ Year Fixed, 30-Year Amortization GET A FREE QUOTE Building a tiny home to rent Of course, in real estate, it is vitally important to consider location. Smart technology integration is also far less expensive for tiny homes than larger properties as they require less equipment.

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Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. 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.

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RIS Media

MARCH 19, 2021

The Consumer Financial Protection Bureau (CFPB) states that “any agreement that entails exchanging a thing of value for referrals of settlement service business involving a federally related mortgage loan likely violates RESPA, whether or not an MSA or some related agreement is part of the transaction.”

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FHA loan Loans Mortgages Technology 105

Lab Coat Agents

JUNE 17, 2024

The Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) have recently updated their policies regarding fees associated with assumable loans. Incentivizing Efficient Processing The increased fees may also incentivize servicers to prioritize and expedite the processing of assumable loans.

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Loans VA loan FHA loan Finance 52

Lab Coat Agents

MAY 1, 2024

VA loan assumptions offer a fantastic opportunity for your clients to save thousands on their mortgage in a rising interest rate environment. What is a VA Loan Assumption? What is a VA Loan Assumption? When a buyer assumes a VA mortgage loan, they take over the seller’s existing loan balance and current interest rate.

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HomeLight

MARCH 24, 2022

The appraisal can make or break your mortgage loan, so you may be feeling a little bit antsy right now — which is a perfectly normal feeling, according to Alan Daniels , a real estate agent who ranks in the top 1% of Colorado Springs agents. Different loans can make the response time longer as well, Daniels says.

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HomeLight

JUNE 30, 2024

The platform offers innovative technologies like its Remote Bid , which allows buyers to bid and win foreclosure properties using a mobile phone app. These homes are typically properties that were financed with an FHA loan and have now been repossessed. Department of Housing and Urban Development ( HUD ).

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Short sale Banks Finance Investor 115

HomeLight

OCTOBER 29, 2021

The average time to close a loan was 48 days in July 2021 , according to ICE Mortgage Technology, a company that produces mortgage management technology. Conventional loans closed in an average of 47 days in July 2021, while FHA loans took 51 days, and VA loans required an average of 52 to close.

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Closing Inspection Title Due diligence 111

HomeLight

AUGUST 20, 2021

The lender must ensure that they’re not loaning the buyer more than the property is worth in the instance the buyer defaults on their mortgage and the lender takes possession of the property. FHA loans require a special appraisal. FHA loans require a special appraisal. Source: (Sidekix Media / Unsplash).

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Marco Santarelli

MAY 30, 2024

Alternative Financing Options: Exploring programs like FHA loans or down payment assistance initiatives can help bridge the gap for aspiring homeowners facing stiff competition from cash buyers. When competing against investors, it may be necessary to consider offering above-asking price or presenting a stronger financial profile.

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Realty Biz

JANUARY 4, 2024

Some Loans Are More Strict It's essential to note that some mortgage programs are more strict on what an appraiser will look at. For example, the appraiser must look at health and safety with an FHA loan. See what you should know about an FHA appraisal. What Impact Does the Size of a Property Have on Its Value?

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HomeLight

JANUARY 6, 2022

You also may have heard of the tech-enabled iBuyers such as Opendoor, Offerpad, Redfin Now and HomeLight (we offer iBuying services through our Simple Sale platform) that use technology to value homes and make near-instant offers. Mention renovation loans in your listing or at your showing. Overwhelmed with Home Repairs?

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Realtor.com

JANUARY 11, 2023

Since mortgage rates spiked in October to over 7% for a 30-year fixed-rate loan for the first time in 20 years, this could indeed determine if a first-time buyer can qualify for a home or not. Another benefit of working with a builder’s lender is that the lender is usually well-versed in FHA and VA loan options.

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