Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% mortgage rate at the end of August. “At

Mortgages 497

Mortgages FHA loan Equity Loans 497

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

JUNE 18, 2024

The Mortgage Bankers Association (MBA) on Tuesday announced its submission of a letter to the U.S. 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.

Inspection 465

Inspection FHA loan Loans Technology 465

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.

FHA loan 468

FHA loan Loans Technology Mortgages 468

Housing Wire

JUNE 1, 2022

A coalition of independent mortgage banks want the Federal Housing Administration (FHA) to take steps it says would significantly improve access to credit for underserved borrowers. Two weeks ago the same group urged the administration to cut mortgage insurance premiums by 30 basis points to.55%

FHA loan 396

FHA loan Loans Mortgages Banks 396

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 400

FHA loan Loans Title Banks 400

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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FHA loan Bankruptcy Marketing Loans 476

Housing Wire

MARCH 14, 2024

Lisa Moriello, the national retail reverse mortgage sales manager at multichannel lender loanDepot , recently spoke to RMD about how business in 2024 seemed to be off to a promising start. Diving deeper into the current reverse mortgage business environment, she offered additional perspectives on multiple topics.

Mortgages 434

Mortgages Loan Officer FHA loan Equity 434

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. Mars Bank held $520.8 million in assets as of June 30, 2023.

Banks 413

Banks FHA loan Lending Equity 413

Housing Wire

SEPTEMBER 21, 2021

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week.

FHA loan 476

FHA loan Lending Equity Technology 476

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.

FHA loan 418

FHA loan Title Principal Development 418

Housing Wire

OCTOBER 27, 2020

Your credit plays a huge part in your ability to get a mortgage. 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.

Debt-to-income ratio 411

Debt-to-income ratio VA loan FHA loan Loan Officer 411

Housing Wire

JUNE 9, 2022

For government loans, such as a Fannie Mae Homestyle Renovation loan, first-time buyers can qualify with a down payment as low as 3%, but renovation costs are limited to 75% of the home’s after-repair value, and borrowers must pay higher fees and closing costs than they would on other types of mortgage loans.

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FHA loan Renovation Equity Loans 360

Housing Wire

FEBRUARY 15, 2024

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. In third-quarter 2023 , it posted mortgage volume of $731 million, down from $900 million in Q2 2023 and $1.1 billion in Q3 2022. “VA

VA loan 426

VA loan Loans Loan Officer FHA loan 426

Housing Wire

JUNE 8, 2022

In its Wednesday letter to the DOJ, CHLA claimed the small and midsize independent mortgage banks it represents would be “particularly vulnerable” to market concentration — such as the large conglomerate resulting from an ICE/ Black Knight merger — in mortgage services. The planned merger between Intercontinental Exchange Inc.

FHA loan 369

FHA loan Banks Loans Technology 369

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.

Industrial 440

Industrial Technology VA loan FHA loan 440

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 238

Loans Closing Mortgages Technology 238

Housing Wire

SEPTEMBER 13, 2024

The Federal Housing Administration (FHA) this week published a newly proposed Mortgagee Letter on its Single Family Drafting Table , which would align mortgage borrowers and originators in their understanding of how much is owed on a partial claim.

Loans 458

Loans Title Mortgages Design 458

Realtor.com

SEPTEMBER 25, 2020

homeowners are behind on their mortgage payments and struggling to hang on to their abodes. of the roughly 8 million Federal Housing Administration mortgages, primarily made to these more vulnerable borrowers, were delinquent in August. of FHA loans were seriously delinquent. FHA loans make up about 21.2%

FHA loan 128

FHA loan Loans Mortgages Technology 128

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. If your credit score is low, you might think that getting a mortgage will be impossible. Read on to find out how to get a mortgage with bad credit. Get Estimate Can you really get a mortgage with bad credit?

Mortgages 116

Mortgages FHA loan Loans Finance 116

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.

Finance 113

Finance VA loan FHA loan Agents 113

Lab Coat Agents

FEBRUARY 7, 2023

How To Get The Best Mortgage Rate You can do a few things to ensure you get the best mortgage rate possible. Next, consider the type of loan that’s right for you. Third, you want to find an agent who uses technology to their advantage. The minimum down payment for an FHA loan is 3.5%.

FHA loan 96

FHA loan VA loan Pre-approval Fixed-rate mortgage 96

Housing Wire

JULY 14, 2022

This technology-enabled transparency is creating equal opportunity for more buyers, including smaller-volume local investors who can now better compete against the large-volume institutional investors. In that model, the only marketing of foreclosure auctions is through notices in a local newspaper or legal publication.

Renovation 369

Renovation MLS Investor Loans 369

AAOA

FEBRUARY 6, 2025

Financing for your tiny home may be more difficult than if you were constructing a traditional home, but in some cases, you may be able to secure an FHA loan. If the tiny house is fixed to a permanent foundation, potential owners can explore conventional mortgages. Many tiny houses feature a loft for sleeping and storing.

Due diligence 102

Due diligence Land FHA loan Construction 102

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.”

FHA loan 105

FHA loan Loans Mortgages Technology 105

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available.

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Debt-to-income ratio FHA loan Lending Loans 72

HomeLight

JUNE 30, 2024

These websites compile data from banks, government agencies, and real estate services to provide comprehensive listings of homes that are being sold due to the owner’s inability to meet mortgage obligations. Zillow provides detailed listings, including photos, estimated mortgage payments, Zestimate , and neighborhood information.

Short sale 115

Short sale Banks Finance Investor 115

Calculated Risk Real Estate

JULY 3, 2024

“As of May, 24% of homeowners with mortgages now have a current interest rate of 5% or higher,” said Walden. “As recently as two years ago an astonishing nine of every 10 mortgage holders were below that threshold. fewer sub-5% mortgages in the market today than there were at this time in 2022.

Mortgages 59

Mortgages FHA loan Loans Staging 59

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.

Investor 98

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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 appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. For home sales, the buyer’s mortgage lender typically hires a third-party appraisal management company to conduct an appraisal.

FHA loan 105

FHA loan Inspection Pre-approval Loans 105

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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FHA loan Inspection Loans Sales 105

Realtor.com

JANUARY 11, 2023

“Simply put, total homeownership costs are more than a monthly mortgage payment alone.” Compounding the problem is that homeowners who might normally sell aren’t doing so because they’re reluctant to buy a new home—and get a new mortgage—when interest rates are so high. Getty Images. Getty Images.

New Construction 110

New Construction Construction VA loan Finance 110

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?

Construction 100

Construction FHA loan Renovation Loans 100

GeekEstate

FEBRUARY 14, 2024

I am 26 years old and originally from Germany, now making my mark in the US mortgage industry. The company’s success led to its sale to CrossCountry Mortgage in 2022. I was particularly troubled by Loan Originators exploiting consumer ignorance to impose exorbitant fees on mortgage transactions.

Purchase and sale agreement 64

Purchase and sale agreement FHA loan Development Loans 64

Marco Santarelli

JULY 20, 2024

Bill, which provided veterans with low-cost mortgages Suburban development and expansion Economic prosperity and rising incomes By the late 1960s , the homeownership rate in America had reached approximately 65% , a figure that would remain relatively stable for several decades. This increase was largely due to: The G.I. 35-44 years : 61.4%

Debt-to-income ratio 52

Debt-to-income ratio VA loan FHA loan Lending 52

HomeLight

NOVEMBER 10, 2021

It’s become more common over the last three years because the common use of technology in day-to-day life has changed so drastically.”. A mortgage is a 15- to 30-year commitment, unless you sell or refinance. Step 4: Get preapproved for a mortgage. Did you know that conforming mortgage limits vary by state or country?

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Inspection Title Agents Pre-approval 98