Housing Wire

SEPTEMBER 23, 2024

California -based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Department of Veterans Affairs (VA) space. loanDepot executive vice president John Bianchi said the hiring reinforces the company’s commitment to VA lending.

VA loan 448

VA loan Lending Loans Loan Officer 448

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

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Lending Mortgages VA loan Finance 448

Real Trends

DECEMBER 14, 2022

Chris Griffith is the CEO of Vetted VA, a training company and trusted source for VA home loan information. For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative.

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VA loan Loans Lending Loan Officer 103

Housing Wire

FEBRUARY 28, 2023

Virginia-based mortgage bank Prosperity Home Mortgage, LLC has acquired the assets of Arizona-based JFQ Lending, LLC to explore the direct-to-consumer channel. The company has 548 active loan officers and 379 branches, per the Modex data. The data shows that 56% are conventional loans and 82% are refinance loans.

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Lending VA loan Loan Officer Loans 396

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 9, 2024

decline in purchase loan demand. Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” MBA data showed that government lending continues to represent a steady share of the mortgage market.

VA loan 455

VA loan Mortgages FHA loan Loans 455

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 397

Lending Industrial Mortgages Loans 397

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. And the VA share of total applications increased from 12% to 12.1% The refinance share of mortgage activity decreased to 31.1%

VA loan 474

VA loan Mortgages Fixed-rate mortgage Loans 474

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

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 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

APRIL 5, 2022

Dubbed the “Fast 15 Guarantee,” eligible loans for conventional single family homes will be cleared to close in no more than 15 business days from the submission of a complete loan file, according to Rocket Pro TPO, the wholesale arm of the lending giant.

Closing 397

Closing Loans VA loan Mortgages 397

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officer 448

Loan Officer Mortgages VA loan Lending 448

Housing Wire

JUNE 17, 2024

Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Since January 2023, the bank has changed its strategy in home lending to focus on bank customers and minority homebuyers through its retail mortgage teams. Expanding the availability of the Dream.

Closing costs 482

Closing costs Closing VA loan Banks 482

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan 418

VA loan Agents Pre-approval Debt-to-income ratio 418

Housing Wire

NOVEMBER 21, 2024

The defect rate for mortgages grew significantly across all loan types in the second quarter of 2024, continuing a trend seen in the first quarter. The share of loans with defects grew to 1.81%, according to a recent report released Wednesday by ACES Quality Management. Department of Veterans Affairs (VA) and U.S. ”

Mortgages 252

Mortgages VA loan Loans Lending 252

Housing Wire

MARCH 29, 2022

Chasing down missing pages can require several days of back-and-forth correspondence between processors and borrowers, extending loan cycle times and frustrating borrowers. Department of Veterans Affairs (VA), U.S. Perhaps the loan is associated with a construction project that could take an unknown number of months to complete.

Lending 369

Lending Earnest money deposit VA loan Loans 369

Housing Wire

JUNE 13, 2024

This was especially true for the Federal Housing Administration (FHA) lending segment. Conventional loans comprised 63.4% Department of Veterans Affairs (VA) loans accounting for 9.8% Department of Agriculture (USDA) loans at 0.3%. of all applications, with U.S. year over year , federal data shows.

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

JUNE 12, 2023

Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes. Overall, May was an improvement over April, but mortgage lending remains constrained. The average purchase price climbed for the sixth consecutive month in May, hitting $454,000, while the average loan amount increased to $360,000.

Loans 448

Loans Mortgages Lending Marketing 448

Housing Wire

MARCH 11, 2024

for cash-out loans. 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 476

VA loan FHA loan Loans Lending 476

Housing Wire

MARCH 5, 2024

Typically, the fees are lower than those for new loans and no appraisal is needed. Department of Veterans Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to The Wall Street Journal. trillion in FHA and VA loans. To begin with, assumptions are limited to FHA, VA and U.S.

VA loan 468

VA loan Mortgages Loans Agents 468

Inman

FEBRUARY 15, 2024

Borrowers can use the company's Tinman platform to see their rates and get pre-approved in minutes, and may qualify to buy with no down payment.

VA loan 190

VA loan Pre-approval Loans Mortgages 190

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 449

Mortgages VA loan FHA loan Lending 449

Housing Wire

OCTOBER 11, 2024

Purchase loans (0.9%) had higher levels of risk than refinances (0.58%). CoreLogic determined that the lowest-risk applications by loan type were those from the U.S. Department of Veterans Affairs (VA), which it called consistent with prior years. in 2024 and by 12% in 2023. That shift did not occur this year.

Mortgages 516

Mortgages Sales Loans Lending 516

Housing Wire

MAY 10, 2024

New York -based assumable mortgage platform Roam rolled out a new partnership with national lender Spring EQ to provide second-lien loans to Roam customers, the company announced on Thursday. Department of Veterans Affairs (VA) are the most common types of loans that can be assumed. An estimated 12.2

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Can you connect those dots for me? Ed Gerding: Sure.

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VA loan Lending Banks Investor 443

Housing Wire

SEPTEMBER 1, 2020

The Consumer Financial Protection Bureau issued a consent order against two companies on Tuesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. On July 24, the CFPB announced consent orders against Sovereign Lending Group, Inc.,

VA loan 500

VA loan Mortgages Loans Principal 500

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. ” Raise the (conforming loan) roof. nonbank lenders are wasting no time.

Loans 284

Loans VA loan Lending Mortgages 284

Realty Biz

APRIL 4, 2023

The US Department of Veterans Affairs offers all kinds of help to US military veterans, but one of the most helpful is certainly how vets looking to purchase a property can rely on the VA’s loan program to access highly affordable mortgage lending at attractive rates. What Are VA Loans?

Lending 81

Lending VA loan Mortgages Principal 81

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

DECEMBER 28, 2023

In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. Taking over mortgage payments might initially seem like simply stepping in to pay someone else’s monthly loan bills. What types of loans are assumable? Most conventional loans are not assumable.

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Loans Purchase and sale agreement VA loan Mortgages 119

Housing Wire

SEPTEMBER 4, 2020

The Consumer Financial Protection Bureau issued a consent order against mortgage broker and lender Accelerate Mortgage on Wednesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. August 26, the CFPB settled with PHLoans , Inc.,

VA loan 477

VA loan Loans Lending Mortgages 477

Housing Wire

MARCH 3, 2022

The Department of Veterans Affairs is giving borrowers impacted by the pandemic an additional fifteen months to get loan payment relief. VA’s Loan Guaranty Service has taken multiple steps to assist veteran borrowers in retaining their homes and overcoming their individual financial situations due to the pandemic,” the spokesperson said.

VA loan 370

VA loan Pre-approval Principal Loans 370

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. However, that’s not always the case.

VA loan 318

VA loan FHA loan Mortgages Lending 318

Housing Wire

FEBRUARY 7, 2023

It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed. In fact, it was fairly common a few decades ago.

FHA loan 397

FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. Currently, all VA appraisals must be performed in-house. VA home loans have given millions of veterans and their families the opportunity to purchase a home.

VA loan 418

VA loan Loans Lending Finance 418

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

JULY 29, 2024

At FHFA’s first-ever tech sprint last year , the focus was on the front end of mortgage lending and increasing tech adoption. HAM flags the loan, does a review, creates an intervention plan and contacts the borrower to review options. Conversations with Loan Buddy would be recorded and available to the loan team.

Loans 360

Loans VA loan Technology Property Management 360