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

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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 396

Loans Mortgages Finance Lending 396

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).

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Equity Loans Lending Investor 411

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 435

Loans Investor Closing Lending 435

Housing Wire

NOVEMBER 26, 2024

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

FHA loan 370

FHA loan Loans Finance Lending 370

Housing Wire

NOVEMBER 27, 2024

wholesale lender United Wholesale Mortgage (UWM) has taken another aggressive move related to its product set, underscoring its strong commitment to government-backed loans. On Wednesday, the company announced the removal of all loan-level pricing adjustments (LLPAs) on government loans, albeit with some limitations.

Loans 418

Loans Finance Mortgages VA loan 418

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

DECEMBER 12, 2024

Our Recapture product monitors loans, does a deep analysis and then sends a presentation to the customer about options to save them money. Because a lot of times you get into a loan review and you get all excited about it, and you find out they don’t even own the property anymore after you did all this work.

Loan Officer 370

Loan Officer Loans Technology Mortgages 370

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.

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FHA loan Mortgages VA loan Loans 468

Housing Wire

OCTOBER 22, 2024

The Federal Housing Administration (FHA) this week announced two temporary policy waivers as the response to hurricanes Helene and Milton continues.

Inspection 468

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Housing Wire

JUNE 11, 2024

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. Behr, program analyst at the department’s Loan Guaranty Service and Veterans Benefits Administration, said in a statement.

VA loan 523

VA loan Loans Brokerage MLS 523

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

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 370

VA loan FHA loan Mortgages Loans 370

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

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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 434

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Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country. billion in loans between 2018 and October 2023, according to the DOJ.

Mortgages 543

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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 538

Loans Finance Mortgages Development 538

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

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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

SEPTEMBER 9, 2024

The product is available for qualified borrowers with an existing FHA loan who are looking to lower their monthly mortgage payment, reduce their interest rate, shorten their loan term or get out of an adjustable-rate mortgage (ARM), the company explained. Better does not check income on FHA streamline refi loans.

FHA loan 448

FHA loan Loans Closing costs Finance 448

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

SEPTEMBER 25, 2024

Purchase loan applications saw more modest increases of 0.4% And the rate for Federal Housing Administration (FHA) loans dropped to 5.99%, “breaking the psychologically important 6% level,“ according Joel Kan, the MBA’s vice president and deputy chief economist. Rising home prices are reflected in larger loan sizes.

FHA loan 448

FHA loan Mortgages VA loan Fixed-rate mortgage 448

Housing Wire

JANUARY 8, 2025

These borrowers found themselves a great deal on their loan and locked themselves into really terrific cheap payments. The average age of outstanding loans climbed steadily during the cheap-money decade, dropped during the pandemic frenzy and is now skyrocketing as homeowners hunker down. Tenure of ownership keeps climbing.

Mortgages 488

Mortgages Finance Loans Equity 488

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 17, 2025

This occurs while they manage the heavy loan of growing origination demand. How do we get a loan from I want a house to its closed and done before they walk away? How do we get a loan from I want a house to its closed and done before they walk away? Most companies think from the primary lens.

Marketing 358

Marketing Residential Commercial Loans 358

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 10, 2025

“Assistance options may include postponement of monthly payments, repayment plans, or loan modifications. One area originator, Tom ODonoghue of Reverse Loans Now , spoke to RMD to offer his assessment of the situation. It’ll probably be something completely non-loan-related, but just be a resource for anything they need.

Industrial 396

Industrial Mortgages Loans Finance 396

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 434

Mortgages Equity Loan Officer Loans 434

Housing Wire

APRIL 17, 2024

The proposal, published in the Federal Register , recognizes that existing borrowers “face limited options” if they seek to access equity on their primary residence, particularly if they have a mortgage rate from a loan originated during the low-rate environment of the COVID-19 pandemic. “[A]

Closing 529

Closing Mortgages Equity Loans 529

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

AUGUST 12, 2024

In its July 2024 Market Advantage report released on Monday, mortgage technology firm Optimal Blue reported that refinance demand, measured by the level of locked loans, grew to its highest point since September 2022. Overall, the number of locked loans moved 3.5% Loan sizes averaged $369,000 in July compared to $374,000 in June.

Loans 476

Loans Lending Mortgages Technology 476

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