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Cause for concern? FHA, VA delinquencies are rising quickly

Housing Wire

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.

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The playbook for a rookie loan officer: What I’m telling my son before his first year

Housing Wire

Entering the mortgage industry as a loan officer can be both exciting and overwhelming. Focus on repetition over perfection At this stage, its more important to consistently show up and do the work than to be the best. Dress & act like you mean business There is no dress code to be a loan originator, but there is for you.

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JPMorgan Chase tightens standards for jumbo loans in Manhattan

Housing Wire

JPMorgan Chase has tightened mortgage terms on jumbo loans for co-operatives and condominiums in Manhattan amid shrinking buyer demand, Bloomberg reported on Friday. Chase announced that, beginning this week, it would limit jumbo loans to 70% of the sale price. Presented by: Indecomm Global.

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Bayview settles for $20M with 53 state regulators over cyberattack

Housing Wire

It includes Bayview and three of its affiliates, Lakeview Loan Servicing , Community Loan Servicing and Pingora Holdings. They concluded that Bayview and its affiliates delayed the regulatory process by not promptly complying with requests during the early stages of the inquiry. Lakeview was the third-largest U.S.

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Next on the road map: Candor automates underwriting for FHA loans

Housing Wire

Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral – and also offers a warranty on income calculations and cleared conditions for funded FHA loans.

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FHFA hikes fees for high-balance and second-home loans

Housing Wire

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio.

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All loan types continued to experience drop in forbearance

Housing Wire

forbearance rate measuring the share of mortgages with suspended payments fell 16 basis points to 5.67% last week, with four of the five loan types dropping by double-digit basis points, according to the Mortgage Bankers Association. The post All loan types continued to experience drop in forbearance appeared first on HousingWire.

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