Housing Wire

FEBRUARY 11, 2022

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB). . Last year, mortgage interest rates reached record lows. This translates into an average of $56 billion in mortgage originations per year.

VA loan 397

VA loan Loans Lending Finance 397

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. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% up 14 bps, on 80% LTV loans.

VA loan 395

VA loan Mortgages FHA loan Loans 395

Housing Wire

JUNE 5, 2024

Mortgage demand keeps on falling. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday. Department of Veterans Affairs (VA) loan applications. the previous week.

VA loan 406

VA loan Mortgages Fixed-rate mortgage Loans 406

Housing Wire

DECEMBER 3, 2023

Mortgage holders withdrew a mere 0.41% of tappable equity in Q3, about 55% below the average withdrawal rate seen in the 12 years leading up to the Federal Reserve ’s most recent tightening cycle, according to the latest ICE Mortgage Technology ‘s mortgage monitor report. for FHA loans and 44.5% for VA loans.

Equity 461

Equity VA loan FHA loan Mortgages 461

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 422

VA loan Lending Loans Loan Officer 422

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. Full-service mortgage company Prosperity, a subsidiary of HomeServices of America , originated about $8.5 billion in June 2022 to $460 million in December 2022.

Lending 355

Lending VA loan Loan Officer Loans 355

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 387

Lending Industrial Mortgages Loans 387

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 295

Mortgages VA loan Loans Lending 295

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. ” According to Scotsman Guide , Potempa was the No. million. .”

Loan Officer 434

Loan Officer Mortgages VA loan Lending 434

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report. were pending with the bureau.

Mortgages 378

Mortgages VA loan FHA loan Lending 378

Housing Wire

JUNE 13, 2024

New-home purchase mortgage applications rose 1% month over month and 13.8% year over year in May, according to data released Thursday by the Mortgage Bankers Association (MBA). This was especially true for the Federal Housing Administration (FHA) lending segment. Conventional loans comprised 63.4%

Mortgages 425

Mortgages VA loan Loans Lending 425

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. Consider, for example, a home that costs $400,000, with an assumable mortgage amount of $280,000. An estimated 12.2

Mortgages 436

Mortgages VA loan Loans Lending 436

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. Typically, the fees are lower than those for new loans and no appraisal is needed. trillion in FHA and VA loans.

VA loan 447

VA loan Mortgages Loans Agents 447

Housing Wire

OCTOBER 11, 2024

in the past year, driven by more cases of identity and transaction fraud New data shows that cases of fraud among mortgage applicants is on the rise — an eye-raising trend as demand from borrowers remains relatively quiet. The CoreLogic Mortgage Application Fraud Risk Index jumped by 8.3% CoreLogic’s risk index rose 8.3%

Mortgages 498

Mortgages Sales Loans Lending 498

Housing Wire

JUNE 17, 2024

mortgage lenders in the first quarter of 2024, estimates that as of April 30, more than 4,500 customers have used the closing cost credit. Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Wells Fargo’s mortgage origination volume declined to $3.5 Wells Fargo, which was among the top 25 U.S.

Closing costs 461

Closing costs Closing VA loan Banks 461

Real Trends

DECEMBER 14, 2022

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. Learning the ropes of VA loans. Agents shouldn’t hesitate to ask questions and seek guidance in the world of VA loans.

VA loan 103

VA loan Loans Lending Loan Officer 103

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. The most recent cases were those against Service 1st Mortgage, Inc. ,

VA loan 455

VA loan Mortgages Loans Principal 455

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 479

VA loan Agents Seller concession FHA loan 479

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. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

MARCH 29, 2022

At first blush, this may seem like overkill; does a lender really gain anything by harnessing all that extra data for a VA loan that only requires two months of bank statements? Thanks to the mortgage industry’s rapidly evolving understanding of the power of asset data, the answer is a resounding “yes.”

Lending 321

Lending Earnest money deposit VA loan Loans 321

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.

VA loan 380

VA loan Lending Banks Investor 380

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 353

Loans VA loan Mortgages FHA loan 353

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. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 413

VA loan Agents Pre-approval Debt-to-income ratio 413

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 168

VA loan Pre-approval Loans Mortgages 168

Housing Wire

MARCH 11, 2024

The spring homebuying season kicked off with a monthly jump in purchase mortgage locks despite rising interest rates. for cash-out loans. for cash-out loans. Overall, 86% of originations in February consisted of purchase mortgages, with refis accounting for 14%. for rate-and-term refis and by 3.1%

VA loan 460

VA loan FHA loan Loans Lending 460

Housing Wire

JANUARY 26, 2022

Tomo , a fintech mortgage startup run by former Zillow executives, is expanding its presence, announcing this week that it will now serve borrowers in Florida, Connecticut and Colorado. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Refinancing is also not an option.

Mortgages 330

Mortgages VA loan Pre-approval Lending 330

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

FHA loan 390

FHA loan Mortgages Loan Officer VA loan 390

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 493

Mortgages VA loan Finance Renovation 493

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

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 317

VA loan FHA loan Mortgages Lending 317

Housing Wire

NOVEMBER 7, 2023

And how should mortgage firms rethink tech strategy? Below I run down these hot topics and look forward to going deeper with fellow mortgage CEOs on a HousingWire webinar December 5. What’s next for the inflation fight and mortgage rates? trillion per Urban Institute , and total mortgages outstanding are $13.9

Debt-to-income ratio 399

Debt-to-income ratio Mortgages VA loan Loans 399

Housing Wire

MAY 5, 2022

Mortgage rates surged to 5.27% over the last week, the highest average since 2009, according to the latest Freddie Mac PMMS. This week’s average purchase mortgage rate rose 17 basis points from the prior week’s 5.10%. This week, mortgage application volume rose 2.5% from the previous week. Presented by: Polly.

Mortgages 367

Mortgages VA loan Fixed-rate mortgage Banks 367

Housing Wire

MAY 3, 2023

30-year fixed mortgage rates declined slightly last week, the first rate drop in three weeks, but it wasn’t enough to boost mortgage demand. Mortgage applications fell last week by 1.2% Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis. the previous week.

Mortgages 407

Mortgages Fixed-rate mortgage Banks Lending 407

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). For many of these transaction-oriented, monoline mortgage lenders, it’s always a question of feast or famine. Mortgage loan volume in the second quarter of 2023 was down 56% from the same period last year, according to ATTOM.

Banks 400

Banks Mortgages Loans Investor 400

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

Mortgages 397

Mortgages Loans Lending Construction 397

Housing Wire

JUNE 12, 2023

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes.

Loans 442

Loans Mortgages Lending Marketing 442

Housing Wire

NOVEMBER 4, 2020

In its annual Mortgage Fraud Report, CoreLogic found that the risk of mortgage fraud for the 12 months ending June 2020 decreased 26.3% Applications for investment properties showed the highest risk, while VA-based programs showed the lowest. Many VA borrowers are employed by the military, reducing income risk also.”.

Mortgages 448

Mortgages VA loan Loans Lending 448