Housing Wire

MARCH 28, 2024

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Yet help might be on the way.

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Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations.

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Mortgage Finance Insurance Lending 414

Housing Wire

FEBRUARY 15, 2024

The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said.

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Mortgage Buyers Loan Officers Sellers 442

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

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Insurance Mortgage Development Marketing 424

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

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Finance Buyers Mortgage Inventory 387

Housing Wire

MARCH 28, 2024

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions. NAR also sent a letter to the U.S.

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Real Estate Agent Sellers Buyers Agents 409

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So

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Loan Officers Mortgage Finance Buyers 437

Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. The trade group urged the regulators to examine Equifax’s pricing practices.

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Insurance Legal Finance Mortgage 408

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Loans in active foreclosure inched up to 217,000, but remained more than 25% below pre-pandemic levels. for FHA loans and 44.5% for VA loans.

Mortgage 417

Mortgage Technology Lending Marketing 417

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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Sellers Buyers Agents Real Estate Agent 365

Housing Wire

MARCH 14, 2024

The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housing Administration (FHA), and it has made the process of requesting a refund slow and complicated. million in unclaimed refunds.

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Insurance Mortgage Development Legal 448

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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Agents Sellers Buyers Finance 442

Appraisal Buzz

APRIL 15, 2024

LenderLogix , a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, has released its first-quarter Homebuyer Intelligence Report, a summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools.

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Loan Officers Tools Mortgage Appraisal 367

Housing Wire

MARCH 11, 2024

for cash-out loans. Purchase lock counts, which control for changing home prices, rose 7% from January. The index for Federal Housing Administration (FHA) loans rose 28 bps to 6.66%, while the U.S. Meanwhile, conforming loans maintained a steady share of 57%, with slight decreases in the FHA and VA loan shares.

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Lending Mortgage Marketing 411

Housing Wire

APRIL 26, 2024

After concerns were raised in the public comment period following the proposed H4P changes announced late last year — including from AARP — some planned updates will not be implemented, according to a statement from the Federal Housing Administration (FHA).

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Real Estate Agent Development Real Estate Law 381

Housing Wire

MARCH 12, 2024

million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. Co-occupant, co-borrowers were more common in places where homes can be adapted to comprise multiple living spaces. In total, more than 9.5

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Real Estate Agent Real Estate Buyers Realty 444

Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. points – on FHA and VA refinances available to brokers until Jan. points, 5.999% paying 2 points and 6.249% paying 2.5

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Government Mortgage Clients Investing 367

Housing Wire

APRIL 11, 2023

Misinformation is spreading on TikTok about the Federal Housing Administration ‘s (FHA) recent increase to the maximum mortgage modification term, causing confusion for homebuyers. You can go out and get a bigger house now because you have higher borrower power at 3% down because your loan term has increased to 40 years.”

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Mortgage Insurance Development Buyers 380

Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans.

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Lending Retail Finance Insurance 468

Housing Wire

JANUARY 31, 2024

Mortgage company Evergreen Home Loans is continuing its expansion across the country with the opening of new branches in Montana, the company announced on Wednesday. “We We are thrilled to welcome the Montana team to our Evergreen family,” Robert Lipston, the company’s executive vice president of production, said in a statement.

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Housing Wire

NOVEMBER 22, 2023

Total home loan applications increased 3% for the week ending Nov. Mortgage rates for the 30-year fixed loan averaged 7.44%, falling 6 basis points in one week, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average loan size on a purchase application was $403,600, the lowest since January 2023.

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Mortgage Government Marketing Finance 456

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation.

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Loan Officers Mortgage Finance Clients 352

Housing Wire

DECEMBER 27, 2022

FHA Commissioner Julia Gordon. The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Rick Sharga, executive vp of marketing at realtytrac.

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Insurance Home Value Mortgage Marketing 472

Housing Wire

FEBRUARY 12, 2024

Mortgage rates continued their downward trajectory at the start of 2024, incentivizing homebuyers to apply for loans. Brennan O’Connell, data solutions manager at Optimal Blue, also noted that January’s year-over-year decline in purchase lock counts, which exclude the impact of changes in home prices, was the lowest seen since May 2022.

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Housing Market Marketing Government Inventory 338

Housing Wire

FEBRUARY 6, 2024

In 2023, the Federal Housing Administration (FHA) and the U.S. The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. But these transactions have grown recently.

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Mortgage Sellers Advertising Buyers 367

Housing Wire

MARCH 22, 2023

Redfin attributed the drop in down payment amount and percentage to the slower housing market , lower home prices, and higher housing costs due to rising mortgage rates. Most offers on homes written by Redfin agents in January were not part of bidding wars , which differs significantly from 2021 and early 2022. in January 2023.

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Buyers Sellers Mortgage Realtors 383

Housing Wire

FEBRUARY 21, 2024

Department of Housing and Urban Development (HUD) on Wednesday issued a mortgagee letter that implements the Federal Housing Administration ’s (FHA) payment supplement partial claim. Gordon also announced that the FHA is extending the current temporary waterfall into 2025.

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Renovations Mortgage Design Development 368

Housing Wire

MARCH 5, 2024

Housing affordability is at its lowest level in more than a decade, according to the National Association of Home Builders (NAHB), and there are few ways to circumvent the rising costs of housing. Typically, the fees are lower than those for new loans and no appraisal is needed. trillion in FHA and VA loans.

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Mortgage Buyers Agents Real Estate Agent 395

Housing Wire

OCTOBER 18, 2023

The Federal Housing Administration (FHA) is working to offer a new partial claim option before the end of 2023, according to the federal housing commissioner at the U.S. The commissioner also discussed the rise in mortgage loan assumptions. But, per the MBA, it takes on average about $2,500 to close a government loan.

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Mortgage Government Insurance Tools 366

Housing Wire

MARCH 26, 2024

Of these actions, 2.682 million have been permanent loan modifications and 3.519 million actions have been other forms of assistance that allowed troubled borrowers to stay in their homes. Loan modifications dropped from 14,363 in Q3 to 12,758 in Q4, an 11.2% The rate for U.S.

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Government Mortgage Inventory Real Estate 399

Housing Wire

DECEMBER 6, 2023

Total home loan applications increased 2.8% The share of Federal Housing Administration (FHA) loan activity increased to 15%, down from 13.5% The share of Department of Veterans Affairs (VA) loan activity was 12.8%, up from 12.6% Department of Agriculture (USDA) loan activity remained unchanged at 0.5%.

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Mortgage Marketing Inventory Finance 512

Housing Wire

FEBRUARY 27, 2024

of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. were FHA loans.

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Loan Officers Development Mortgage Real Estate 384

Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

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Loan Officers Insurance Mortgage Real Estate Agent 331

Housing Wire

NOVEMBER 17, 2023

This marks the first time for CBC Mortgage Agency is reducing interest rates on its second mortgages used for its DPA program on Federal Housing Administration (FHA) loans amid mounting affordability pressure for underserved and first-time homebuyers. The second mortgage requires a monthly payment.

Mortgage 368

Mortgage Finance Housing Market Marketing 368

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

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Buyers Agents Mortgage Real Estate Agent 501

Housing Wire

FEBRUARY 23, 2024

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. Meanwhile, the FHA-insured loan delinquency rate recorded a larger jump during the same period to 10.81%, up from 9.5%, the highest level since Q3 2021.

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Insurance Home Value Mortgage Marketing 412

Housing Wire

JANUARY 31, 2024

“Low existing housing supply is limiting options for prospective buyers and is keeping home-price growth elevated, resulting in a one-two punch that continues to constrain home purchase activity.” Meanwhile, rates on jumbo loans (greater than $766,550) also remained unchanged at 6.94%. Last week, refis comprised 34.2%

Mortgage 373

Mortgage Retail Buyers Finance 373