Housing Wire

NOVEMBER 26, 2024

The Federal Housing Finance Agency (FHFA) has set a new baseline conforming loan limit of $806,500 for one-unit properties in 2025, authorizing Fannie Mae and Freddie Mac to purchase mortgages up to this amount. Ultimately, the new ceiling loan limit for one-unit properties will be $1,209,750. The new limit reflects a 5.2%

Loans 435

Loans Finance Mortgages Banks 435

Housing Wire

DECEMBER 17, 2024

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy ( PACE ) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

Loans 395

Loans Mortgages Finance Lending 395

Housing Wire

OCTOBER 25, 2024

Mortgage technology startup Novaprime is making its public debut with the launch of an AI-powered loan platform that it claims allows lenders to sell loans to investors in just days, instead of weeks, all with a high degree of accuracy. Loan details needing attention are routed to a professional for a better borrower experience.

Loans 434

Loans Investor Closing Lending 434

Housing Wire

JANUARY 8, 2025

Real estate investment trust Redwood has expanded its home equity platform, Aspire, to include alternative loan products amid affordability challenges in the housing market, the company announced Tuesday. Through Aspire, launched in September 2023, Redwood directly originates home equity investments (HEIs).

Equity 434

Equity Loans Lending Investor 434

Housing Wire

OCTOBER 17, 2024

The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). FHFA Director Sandra Thompson lauded the development in a statement accompanying the report.

Banks 459

Banks Loans Development Finance 459

Housing Wire

NOVEMBER 18, 2024

The Federal Housing Finance Agency (FHFA) on Monday announced that it will raise the 2025 multifamily loan caps for purchases by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to $73 billion each.

Loans 459

Loans Finance Mortgages Marketing 459

Housing Wire

DECEMBER 11, 2024

This rule amends the requirements for the sale of eligible single family mortgage loans insured by the [FHA] that have been assigned to the secretary of the U.S. Loan buyers must offer loss-mitigation options that are as or more generous than FHA loss mitigation options when buying loans through the program, according to the rule.

Loans 397

Loans Sales Technology Inspection 397

Housing Wire

FEBRUARY 6, 2025

In addition to all of these challenges, economic factors outside of housing are making it harder for potential buyers to acquire qualifying mortgage loans. Most lenders focus on offering traditional mortgage loans to clients, choosing to shy away from unconventional options in the market. Finance a loan, and you may lose money.

Loans 306

Loans Mortgages Equity Construction 306

Housing Wire

JANUARY 30, 2025

Sage Home Loans Corp. “We are thrilled to welcome Bijoy John as the new Senior VP of Marketing at Sage Home Loans Corporation,” Sage Home Loans’ CEO Mike Malloy said in an email. Sage Homes Loans is based in Fort Mill, South Carolina. John will reportedly focus on leading borrower retention efforts.

Loans 359

Loans Marketing Lending Banks 359

Housing Wire

FEBRUARY 6, 2025

New data released Thursday by the Mortgage Bankers Association (MBA) revealed that the delinquency rate for mortgages on one- to four-unit residential properties increased to a seasonally adjusted rate of 3.98% of all loans outstanding at the end of 2024. Department of Veterans Affairs loans. And likewise, it’s gone up for VA.

VA loan 390

VA loan FHA loan Debt-to-income ratio Loans 390

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. In 2023, there was a large shift of business away from conforming purchase loans to those insured by the Federal Housing Administration (FHA).

Mortgages 516

Mortgages Sales Loans Lending 516

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

Housing Wire

OCTOBER 23, 2024

Even as artificial intelligence (AI) becomes more prominent in the mortgage industry, most millennial and Generation Z homebuyers are hesitant to rely solely on a fully automated application process to get a loan, according to a new study. About 58% of respondents still relied on loan officers to guide them through the process.

Mortgages 459

Mortgages Loan Officer Loans Technology 459

Housing Wire

OCTOBER 30, 2024

When asked whether loan buybacks were a more significant issue last year than now, Freddie Mac executive Sonu Mittal says emphatically, “It depends on who you ask.” Freddie Mac has seen a nearly 55% reduction in repurchase requests from its peak in the first quarter of 2023. This expands upon a pilot program launched earlier this year.

Debt-to-income ratio 432

Debt-to-income ratio Loans Loan Officer Finance 432

Housing Wire

NOVEMBER 14, 2024

These including a certain number of purchase loans for low-income households (defined as households with an income at or below 80% of the area median income (AMI). One of the subgoals covers two types of purchase loans. One of the subgoals covers two types of purchase loans.

Loans 537

Loans Finance Mortgages Development 537

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.” 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2%

VA loan 456

VA loan Mortgages FHA loan Loans 456

Housing Wire

OCTOBER 15, 2024

It also must provide $7 million for a home loan subsidy program in majority-Black neighborhoods, and it must pay at least $1 million to serve the neighborhoods it redlined , according to the terms of the agreement released on Tuesday. billion in home loan production. million civil penalty. The company ranked No. This compared to 12.2%

Lending 468

Lending Loan Officer Loans Mortgages 468

Housing Wire

JANUARY 2, 2025

Applications for refinances drove the decrease in the overall index as they fell 36%, while applications for purchase loans were down 13%. Data at HousingWire ‘s Mortgage Rates Center also shows consistent upward movement in the cost of a home loan during the last two weeks of the year.

FHA loan 468

FHA loan Mortgages VA loan Loans 468

Housing Wire

DECEMBER 20, 2024

House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans. Introduced by Reps.

FHA loan 418

FHA loan Mortgages Equity Loans 418

Housing Wire

OCTOBER 17, 2024

The average number of preapproved borrowers per loan officer decreased slightly to 28.5 The average preapproval loan amount increased by 26% to $388,215 in Q3, up from $308,681 in Q2. Conventional loans comprised 76% of the mix for preapproved borrowers while all other loan categories stayed consistent.

Loan Officer 468

Loan Officer Loans Sales Mortgages 468

Housing Wire

FEBRUARY 5, 2025

“The average loan size for a purchase loan has increased since the start of the year and continued that trend last week with weaker government purchase activity, which reached $447,300, the highest level since October 2024,” he said. Kan added that purchase activity had a rougher week. from the week prior.

Fixed-rate mortgage 346

Fixed-rate mortgage Loans Mortgages FHA loan 346

Housing Wire

AUGUST 1, 2024

That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. Veterans United Home Loans is a full-service lender based in Columbia, Missouri. Homebuyers often adjust their plans for the uncertainty that an election year can bring.

VA loan 508

VA loan Loans Finance Mortgages 508

Housing Wire

JANUARY 28, 2025

Service transfer borrowers moved their loans to Mr. Cooper for servicing between February 2011 and December 2017. Service transfer borrowers faced significant turmoil once their loans were transferred in bulk to Mr. Cooper for servicing. Cooper for servicing.

Inspection 443

Inspection Loans Mortgages As-is 443

Housing Wire

OCTOBER 25, 2024

In this HousingWire Executive Conversation, Tom Davis, Chief Sales Officer at Deephaven , discusses the opportunities in the non-QM investor loan space as we head into the new year. He emphasizes the importance of a diverse product portfolio including DSCR and business-purpose loans, to better serve clients.

Investor 448

Investor New Construction Construction Loans 448

Housing Wire

JANUARY 23, 2025

billion in total or as much as $1,692 per loan. The report found that the state that could experience the most savings per transaction would be Texas at a savings of $1,692 per loan, followed by Florida ($1,275 per loan), and New Mexico ($978 per loan). The pilot program is slated to run through May of 2026.

Title 468

Title Land Loans Closing costs 468

Housing Wire

JANUARY 27, 2025

Consumers who chose to take out a cash-out refinance largely used the loans proceeds for paying down existing debts, with notable impacts on credit card and auto loan balances as well as credit utilization rates. One source of debt that was not heavily impacted, according to the data, were student loan balances.

Loans 366

Loans Closing costs Mortgages Closing 366

Housing Wire

OCTOBER 31, 2024

The interest rate on the loan has been lowered from 9.99% to 9.49%. Interest rates on second-lien loans tend to be higher when compared to first liens, reflecting the higher amount of risk to the lender. In October 2023, FOA announced a rollout of HomeSafe Second to an expanded pool of direct retail loan officers and wholesale brokers.

Mortgages 433

Mortgages Equity Loan Officer Loans 433

Housing Wire

OCTOBER 18, 2024

Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m. Additionally, all loans currently locked must be funded by the lock expiration date. Relatedly, Fannie Mae and Freddie Mac have blacklisted a number of condo buildings in South Florida that it won’t back loans for. PST on Oct.

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

DECEMBER 11, 2024

Data at HousingWire ‘s Mortgage Rates Center showed an average rate of 6.85% for 30-year conforming loans on Wednesday, a slight decrease from the week ending Dec. Government loan activity saw a slight jump. Department of Veterans Affairs (VA) loans followed suit, jumping 270 bps to 16.3% of all applications.

As-is 397

As-is VA loan Mortgages Loans 397

Housing Wire

NOVEMBER 11, 2024

In its third-quarter earnings report, Zillow Home Loans revealed an impressive data point: mortgage revenue increased 63% year over year in the third quarter to $39 million, which is primarily due to an 80% year-over-year increase in purchase loan origination volume to $812 million. That’s an annualized $3.2

Mortgages 459

Mortgages Loan Officer Loans Agents 459

Housing Wire

SEPTEMBER 11, 2024

Mortgage rates have declined for six straight weeks, pushing loan application volume up 1.4% The MBA’s survey showed that the average contract interest rate for 30-year fixed-rate conforming loans (balances of $766,550 or less) decreased to 6.29% last week, down 14 basis points (bps) from the previous week.

Loans 476

Loans Mortgages Residential Development 476

Housing Wire

OCTOBER 25, 2024

With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S. Under the temporary fix, homebuyers using VA loans are able to pay for their agent’s commission.

VA loan 448

VA loan Purchase and sale agreement Loans Agents 448

Housing Wire

SEPTEMBER 4, 2024

The program, dubbed “Refi75,” effectively replaces and expands on “Govy 125,” a 125-bps incentive that ended Tuesday for Interest Rate Reduction Refinance Loans (IRRRLs) through the U.S. Although 81% of this volume involved purchase loans, UWM expects to see more refinance originations in the near term.

Loans 487

Loans Technology Mortgages Sales 487

Housing Wire

JANUARY 14, 2025

A report released Tuesday by Optimal Blue found that the conforming loan share sank to historic lows in December. More refis in December pulled market share away from other loan types, including conforming loans. ” The conforming loan share dropped by 1.5% mortgage market trends.

VA loan 369

VA loan FHA loan Mortgages Loans 369

Housing Wire

JULY 10, 2024

Terms: I am upside down on my loan or I have onerous terms. So that leaves us with the mortgage loans (No. In the first quarter of 2022, just before interest rates started rising, 85% of mortgages carried an interest rate less than 5% for a 30-year fixed rate loan. 2 above) themselves.

Equity 545

Equity Loans Mortgages Sales 545

Housing Wire

AUGUST 6, 2024

The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. Depending on the loan scenario, originators across the country are offering even lower prices to borrowers. in early May.

Mortgages 505

Mortgages Loans Lending Equity 505

Housing Wire

DECEMBER 18, 2024

Market data at HousingWire ‘s Mortgage Rates Center showed an average fixed rate of 6.87% for 30-year conforming loans on Wednesday, a slight increase from the week ending on Dec. ” Refinance application activity across all loan types decreased 3% week over week, although it was still 41% higher compared to the same week in 2023.

VA loan 392

VA loan Mortgages FHA loan Loans 392