Lending Principal VA loan 
Housing Wire
SEPTEMBER 1, 2020
for advertisements that misrepresented the credit terms of the advertised mortgage loan by stating credit terms that the company was not actually prepared to offer to the consumers, among other deceptive practices. On July 24, the CFPB announced consent orders against Sovereign Lending Group, Inc., and Prime Choice Funding, Inc. ,
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%
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Housing Wire
MARCH 3, 2022
Here’s how to proactively maintain fair lending. The department said at the time that they do not normally allow for the modifications to lengthen the loan maturity date by more than a year past the original maturity date without VA preapproval. Borrowers now also have more time to defer their loan payments.
Housing Wire
NOVEMBER 4, 2020
Investment purchases had a 74% increase in risk despite lower volumes and tighter lending guidelines, reflecting a new high in the history of CoreLogic’s index. VA-based programs had the lowest-risk applications, CoreLogic found. This introduces other factors and increases the risk compared to a purchase for personal use.
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.
Housing Wire
DECEMBER 4, 2024
million mortgage holders, with a combined $1 trillion in unpaid principal balances, were in the path of hurricanes Helene and Milton. Walsh said that there’s a “big question mark” related to FHA loans, which recorded a 10.46% delinquency rate in Q3 2024, up from 9.5% According to ICE, approximately 4.9 in the same period last year.
Housing Wire
OCTOBER 24, 2022
Ginnie serves as the government-backed securitization pipeline for loans insured by government agencies that provide loan-level mortgage-insurance coverage through their lending programs. Unlike Fannie and Freddie, however, Ginnie does not purchase loans. Department of Veterans Affairs (VA). billion, 6.2%
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