Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. REALITY: There is no limit.

VA loan 468

VA loan Loans Mortgages Lending 468

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 443

VA loan Lending Loans Loan Officer 443

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. According to its website, it includes a portfolio with fixed and adjustable rate mortgages (ARMs) and government loans, such as FHA, USDA and VA loans.

Lending 385

Lending VA loan Loan Officer Loans 385

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

DECEMBER 3, 2023

Mortgage originations Purchase lending dominated the market overall, driving 86% of all first-lien lending in the third quarter. In 2024, roughly 75% of originations expected to come from purchase loans. in October, also a series high, while the average among FHA and VA loans hit 45.5% for FHA loans and 44.5%

Equity 468

Equity VA loan FHA loan Mortgages 468

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 396

Lending Industrial Mortgages Loans 396

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. Fratantoni noted that government purchase volume was down less, aided by growth in U.S. The refinance share of mortgage activity decreased to 31.1%

VA loan 445

VA loan Mortgages Fixed-rate mortgage Loans 445

Housing Wire

OCTOBER 9, 2024

MBA data showed that government lending continues to represent a steady share of the mortgage market. 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2% Department of Veterans Affairs (VA) loans rose by 150 bps to account for 16.9% For the week ending Oct. of applications.

VA loan 433

VA loan Mortgages FHA loan Loans 433

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 479

Closing costs Closing VA loan Banks 479

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? The post Deeper asset history unlocks new lending opportunities appeared first on HousingWire. I’d love to hear your thoughts on long asset history.

Lending 354

Lending Earnest money deposit VA loan Loans 354

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

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. 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

MAY 2, 2024

7 loan officer in the country last year with a mortgage production volume of $326.5 His portfolio is concentrated on purchase loans (98% of the total volume in 2023) for first-time homebuyers. Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said.

Loan Officer 447

Loan Officer Mortgages VA loan Lending 447

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.

Mortgages 444

Mortgages VA loan Loans Lending 444

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 418

Mortgages VA loan FHA loan Lending 418

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 171

VA loan Pre-approval Loans Mortgages 171

Housing Wire

MARCH 11, 2024

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.” Meanwhile, conforming loans maintained a steady share of 57%, with slight decreases in the FHA and VA loan shares.

VA loan 474

VA loan FHA loan Loans Lending 474

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

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 418

VA loan Lending Banks Investor 418

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. ,

VA loan 487

VA loan Mortgages Loans Principal 487

Housing Wire

MARCH 5, 2024

trillion in FHA and VA loans. In other words, they don’t know that their FHA or VA loan can be attached to the home sale when they sell it. This includes ensuring the transaction adheres to consumer protection laws and fair lending practices, and a 45-day maximum for completing the approval process.

VA loan 465

VA loan Mortgages Loans Agents 465

Housing Wire

MAY 10, 2024

Roam now services 35% of homes with FHA and VA loans in the U.S., The investors included Tony Xu, chief executive of DoorDash ; Dylan Field, CEO of Figma ; and Paul Gu, co-founder of lending platform Upstart , among others. Roam has also expanded to three additional markets: Tucson, Arizona; Jacksonville, Florida; and Chicago.

Mortgages 447

Mortgages VA loan Loans Lending 447

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.

VA loan 316

VA loan FHA loan Mortgages Lending 316

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 368

Loans VA loan Mortgages FHA loan 368

Housing Wire

SEPTEMBER 4, 2020

for failing to properly disclose the consumer’s repayment obligations over the full term of the loan, among other deceptive practices. and on July 24 against Sovereign Lending Group, Inc., A surge in VA refinance loans is driving the increase, with Q3 refinances spiking 296% year-over-year, the report said.

VA loan 451

VA loan Loans Lending Mortgages 451

Housing Wire

MARCH 3, 2022

Here’s how to proactively maintain fair lending. According to the Mortgage Bankers Association , in the fourth quarter of 2021 the VA delinquency rate declined 57 basis points to 5.24 During 2021 overall, the share of VA loans that were delinquent decreased by 205 basis points, the MBA said. Meanwhile, as of Jan.

VA loan 364

VA loan Pre-approval Principal Loans 364

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. Jones also expressed concern with future increases to VA home loan funding fees.

VA loan 418

VA loan Loans Lending Finance 418

Housing Wire

OCTOBER 11, 2024

Lending volumes remained relatively steady over the past year, which the firm tied to “continued high interest rates.” “The stability in the volumes of loans as well as the types of transactions over the last two years is reflected in the relatively steadiness of the aggregated National Mortgage Fraud Index.

Mortgages 514

Mortgages Sales Loans Lending 514

Housing Wire

APRIL 15, 2024

Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered. NAR has also reached out to the U.S. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

Agents 532

Agents Seller concession VA loan Finance 532

Housing Wire

JANUARY 26, 2022

Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans. Building the next generation of tech: Three ways to digitize home lending. Refinancing is also not an option.

Mortgages 359

Mortgages VA loan Pre-approval Lending 359

Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment. Refi applications dropped to 33.9% Presented by: Polly.

Mortgages 370

Mortgages VA loan Fixed-rate mortgage Banks 370

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

AUGUST 7, 2023

The financial incentives are simply not there for mortgage companies that want to do more minority lending; therefore, it shouldn’t be a surprise that most banks and mortgage lenders do just enough minority lending to stay out of regulatory trouble but secretly have no desire to do much beyond that.

Closing 369

Closing Fixed-rate mortgage Debt-to-income ratio Lending 369

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.

FHA loan 397

FHA loan Mortgages Loan Officer VA loan 397

Realty Biz

APRIL 5, 2022

However, FHA and VA loans are the only two mortgage loan programs that allow borrowers during Chapter 13 Bankruptcy to be eligible for a home mortgage. FHA and VA guidelines during Chapter 13 Bankruptcy is almost the same. We will cover and discuss qualifying for an FHA and/or VA loan during Chapter 13 Bankruptcy.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

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. “I hope this is not the case, but I advised my clients that this is the reason why I locked three loans today.” ”

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

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. For example, it could detect that a loan officer didn’t offer a VA loan to a qualified borrower so it would prompt that.

Loans 352

Loans VA loan Technology Property Management 352