Housing Wire

APRIL 11, 2024

According to the findings, a significant portion of recent homebuyers remain in the dark about crucial aspects of agent payments. Only 37% of respondents had a clear understanding of their agent’s payment, while 38% were aware of who covered the costs. The Redfin-commissioned survey was conducted by Qualtrics in February 2024.

Agents 425

Agents Real Estate Sellers Buyers 425

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. In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage.

Lending 473

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Housing Wire

APRIL 29, 2024

It can be used to make home repairs, pay for medical expenses, or to supplement retirement income. A lender makes monthly payments to you based on the equity in your home, using your home as collateral.

Mortgage 414

Mortgage Property Taxes Design Insurance 414

Housing Wire

APRIL 12, 2024

If a reverse mortgage can help your situation, it still makes sense for a lot of people,” Simmons told the organization. But certain situations may make a reverse mortgage a better idea for some individual borrowers. “[It] There are so many people who can benefit from this today, even with the rates the way they are.”

Mortgage 410

Mortgage Business Lending Marketing 410

Housing Wire

NOVEMBER 21, 2023

This groundbreaking state-specific law mandates that landlords who own or operate such properties offer their tenants the option to have their rental payments reported to credit bureaus. Rent payments are often one of the most substantial monthly expenses for individuals, typically accounting for 30% to 40% of their income.

Tenants 437

Tenants Law Landlords Development 437

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.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450

Housing Wire

NOVEMBER 13, 2023

31, the company suffered a cyberattack that disrupted loan payments. 4 by taking customer calls and payments, remitting to investors and onboarding new loans. Customers had hammered its social media accounts with complaints of not being able to get a confirmation after making a large mortgage payment.

Investors 407

Investors Technology Business Mortgage 407

Housing Wire

NOVEMBER 15, 2023

Homebuyers are forking over larger down payments to offset higher borrowing costs thanks to mortgage rates hitting multi-decade highs. The median down payment was $30,000 in Q3, up from $27,300 the same quarter a year ago. between Q3 2020 and Q3 2023, making the increase in down payment size even more significant.

Mortgage 405

Mortgage Investing Housing Market Buyers 405

Housing Wire

MARCH 20, 2024

The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process. residents, which is why we strive to make homeownership more accessible to a wider range of individuals and families,“ Glenn Brunker, president of Ally Home, said in a statement. “By

Technology 412

Technology Tools Lending Marketing 412

Housing Wire

NOVEMBER 10, 2023

Meanwhile, buyers offer bigger down payments to lessen the cost of monthly payments In September, buyers were typically putting down 16.1% That’s the highest down-payment percentage since June 2022. Geographically, metros in California such as San Francisco, San Jose and Anaheim, posted the highest down payment percentages.

Mortgage 441

Mortgage Buyers Insurance Government 441

Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. Will buyer payments for their own professional services count against the IPC cap? NAR has also reached out to the U.S.

Buyers 530

Buyers Agents Real Estate Agent Sellers 530

Housing Wire

NOVEMBER 9, 2022

Home equity loans have a fixed interest rate and a set schedule of fixed payments for the life of the loan. The interest rate on a home equity loan is fixed and so are the payments, meaning the interest rate doesn’t change with time and the payments are equal over the life of the loan. Pros and cons. Pros and cons.

Mortgage 531

Mortgage Marketing Appraisal 531

Housing Wire

JANUARY 12, 2024

The Securing a Strong Retirement Act of 2022, known by its moniker “SECURE 2.0,” includes provisions including automatic enrollment of more workers into retirement savings plans, matching certain student loan payments in a 401(k) plan and tweaks to required minimum distributions (RMDs) in existing retirement plans. “[A]s

Law 411

Law Modernization Finance 411

Housing Wire

NOVEMBER 17, 2023

CBC Mortgage Agency — a federally chartered housing finance agency — is reducing interest rates on repayable second mortgages used for its down payment assistance (DPA) program. The second mortgage requires a monthly payment. The forgivable option for a Chenoa Fund DPA has a 30-year term with a 0% interest rate.

Mortgage 417

Mortgage Finance Housing Market Marketing 417

Housing Wire

NOVEMBER 14, 2023

Homeowners can manage payments and escrows, go paperless, find savings opportunities and remain engaged with their servicers. CARE officially became the name of Sagent’s self-service borrower portal in March 2021 to make it more representative of what CARE does which is exemplify C ustomer A ttention, R etention and E ngagement. #2

Design 399

Design Tools Technology Mortgage 399

Housing Wire

APRIL 25, 2024

April is Fair Housing Month, and this research shows how far we have to go to make housing fair and accessible for all,” Manny Garcia, senior population scientist at Zillow, said in a statement. Saving for a down payment is often one of the key obstacles to owning a home, Zillow noted. and African Americans at 45.9%.

Real Estate Agent 425

Real Estate Agent Law Real Estate Clients 425

Housing Wire

AUGUST 20, 2020

The report defines accounts with deferred payments and forbearance programs as those in financial hardship and credits government stimulus and accommodation programs provided by lenders with helping the market withstand challenges in the near-term.

Government 506

Government Mortgage Business Marketing 506

Housing Wire

FEBRUARY 15, 2024

Escrow accounts also frequently handle mortgage insurance payments as conventional loan borrowers with less than 20% equity in their homes are required to have mortgage insurance. The LERETA survey also found 36% of respondents with a fixed-rate mortgage believe their monthly payment cannot change, even though it can.

Property Taxes 491

Property Taxes Insurance Mortgage Finance 491

Housing Wire

APRIL 26, 2024

were meeting their payment obligations. Overall, nearly all stages of delinquency remain near historically low levels in February, meaning that most Americans with a mortgage are able to make their payments on time. “As later-stage delinquencies decrease, the share of mortgages in foreclosure remained at 0.3% percentage points.

Mortgage 470

Mortgage Marketing 470

Housing Wire

FEBRUARY 12, 2024

A mortgage is one of the biggest financial decisions someone makes in their lifetime. The way you present yourself across digital platforms can make or break that first initial layer of credibility. Are they interested in buying, but worried about down payment and closing costs? It can also be quite emotional and stressful.

Mortgage 455

Mortgage Clients Business Marketing 455

Housing Wire

OCTOBER 16, 2023

It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks. Get the down-payment conversation straight We know that one of the biggest hurdles for first-time homebuyers is saving for a down payment. Check with your local or state housing agency for a list of programs.

Agents 409

Agents Buyers Sellers Inventory 409

Appraisal Buzz

MAY 1, 2024

Products such as 15-year or 30-year fixed-rate mortgages offer predictability in monthly payments, appealing to borrowers seeking long-term financial stability. Fostering accessibility through down payment assistance programs can play a pivotal role in making homeownership more attainable, particularly for first-time buyers.

Mortgage 195

Mortgage Housing Market Buyers Finance 195

Housing Wire

AUGUST 25, 2023

Zillow ‘s mortgage arm launched a down payment assistance program where the company will cover 2% of the borrower’s down payment at closing, allowing buyers to pay just 1% upfront. The 2% portion of the down payment will be paid during closing and not as a payment to the borrower.

Mortgage 370

Mortgage Buyers Agents Business 370

Housing Wire

JULY 26, 2023

Add Guaranteed Rate to the list of lenders offering down payment assistance programs to target first-time homebuyers facing historic affordability challenges. The Chicago-headquartered lender released OneDown — a mortgage loan that allows customers to buy a home with a minimum down payment of 1% of the purchase price.

Sellers 367

Sellers Mortgage Buyers Finance 367

Housing Wire

MARCH 12, 2024

Latinos have historically relied on low down payment mortgage options for home purchases. Real estate agents who were interviewed for the NAHREP report highlighted increased accessibility to ITIN loans, noting new loan products with lower down payments and interest rates.

Real Estate Agent 458

Real Estate Agent Real Estate Buyers Realty 458

Housing Wire

JANUARY 24, 2024

Fannie Mae has announced updates to its HomeReady product, including a temporary $2,500 credit for very low-income purchase borrowers to use for down payment and closing costs. The credit must be provided through the transaction, such as being applied to down payment and closing costs, including escrows and mortgage insurance premiums.

Insurance 479

Insurance Government Mortgage Marketing 479

Real Estate News

MARCH 25, 2024

Tax time can be confusing for agents, but tracking mileage, making quarterly payments and hiring an accountant can pay off. A veteran CPA explains.

Agents 248

Agents 248

Housing Wire

APRIL 27, 2023

Being able to close on a home at any time on any day of the year has long been a pipe dream, but the Federal Reserve ’s new FedNow instant payment system looks to be making that dream a reality. But I can’t help but think that this is going to be absolute rocket fuel for fraud because you are going to end up with irrevocable payments.

Insurance 431

Insurance Tools Marketing 431

Housing Wire

APRIL 25, 2024

So, if you can afford to put maybe a 50% to 70% down payment on a home, but you still can’t afford the mortgage payment because of interest rates, you could use a reverse for purchase so that you don’t have a payment on that gap.”

Mortgage 354

Mortgage Finance Real Estate Best Value 354

Housing Wire

APRIL 30, 2024

As we reflect on the significance of Fair Housing Month, FHFA and its regulated entities will continue to address barriers that make affordable housing difficult to find,” Thompson said. FHFA Director Sandra Thompson said that the publication of the final rule is necessary at a time of housing unaffordability for many Americans. “As

Lending 406

Lending Finance Government Realtors 406

Housing Wire

JUNE 29, 2022

Freddie Mac announced Wednesday that on-time rental payments will be included in its underwriting system. The government-sponsored enterprise said that it hopes to incentivize “responsible” renters to make a leap into homeownership.

Landlords 410

Landlords Government Mortgage 410

Housing Wire

FEBRUARY 1, 2023

Users can experience how true transparency into data and processes increases payment accuracy, reduces exceptions, and mitigates refunds. Inaccurate property tax payments lead to refunds, penalties, and a diminished homeowner experience. Property tax payment requirements vary by state and locality.

Property Taxes 360

Property Taxes Tools Lending Clients 360

Housing Wire

FEBRUARY 23, 2024

of Black renter families earned enough income in 2022 to afford a mortgage with a 3% down payment, compared to 12.5% of Black renter families in Detroit were making enough income to comfortably afford a mortgage, the highest share among the 50 largest metro areas in the country. About 7.8% percentage points. About 13.3%

Mortgage 436

Mortgage Home Value Lending Real Estate 436

Housing Wire

JANUARY 17, 2024

first brought the issue up by saying it is an important element to address for the kinds of people who most commonly make use of FHA mortgage programs. “I Brad Sherman (D-Calif.) I don’t have to tell you, that’s working people, people of color [and] first-time homebuyers,” Sherman said. Yes, I’m willing to look at it,” Fudge responded.

Insurance 464

Insurance Mortgage Development Marketing 464

Housing Wire

FEBRUARY 15, 2024

Older Americans also have financial incentives attached to staying in their homes, since 54% of the baby boomer cohort own their homes free and clear without making monthly mortgage payments.

Property Taxes 466

Property Taxes Insurance Construction Inventory 466

Housing Wire

APRIL 11, 2023

The difference now is, they [the FHA] are making their loan term to 40 years, and that increases your buying power as a purchaser,” one user, who claims to be a lawyer, said in a recent video. This makes the monthly payments more affordable, the FHA said in March. “It’s not for new loans (…).

Mortgage 384

Mortgage Insurance Development Buyers 384

Housing Wire

SEPTEMBER 15, 2023

If you ask a really nuanced question, like ‘Can you show me a monthly payment with a 15-year fixed and no down payments , or a 30-year fixed, and a 10% down [payment]?’ The goal is to make Copilot practical and useful for LOs’ workflow. “A Some of these borrowers have hundreds of products that they can choose from.

Tools 398

Tools Loan Officers Clients Mortgage 398