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Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing?

Finance 432
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FHFA conforming loan limits increase to $766,550 in 2024

Housing Wire

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200 , the Federal Housing Finance Agency (FHFA) announced Tuesday. Conforming loan limits are increasing at a slower pace, mirroring home prices, overall.

Finance 531
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What Fed rate cuts in 2024 will mean for homebuyers

Housing Wire

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels. These cuts will allow mortgage rates to fall faster throughout 2024. in 2025, indicating four more 25 bps cuts. “The

Inventory 457
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Reverse pros in high-value markets look ahead to 2024 opportunities

Housing Wire

Reverse mortgage loan originators all seem to agree that 2024 is off to a better overall start in business than a tepid 2023 might suggest. The product maintains the non-recourse feature of other reverse mortgages, contains no origination or monthly servicing fees, and has no minimum home value requirement.

Marketing 361
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Realtor.com reveals new tools to evaluate climate risk exposure 

Housing Wire

homes, valued at $19.7 “It’s important for people to fully understand the climate risks that a home faces not only in the present, but in the future, so they can make the most informed decision for one of the biggest purchases and investments they will make in their life.” In 2024, 32.5% ” U.S.

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Reverse mortgage volume and securities issuance trend lower in December

Housing Wire

When November and December case numbers are published, we’ll have a better idea of what to expect for Q1 2024. Expect origination volume to increase if the 10-year treasury stays below 4% and home values remain stable,” McCully said. the HECM limit] for 2024 should help volume, too.”

Mortgage 404
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Here are the top 10 reverse mortgage securities issuers for 2023

Housing Wire

Leading players At the top of the list once again is Finance of America Reverse (FAR), which took nearly 37% of total market share in HMBS issuance last year. Expect origination volume to increase if the 10-year treasury stays below 4% and home values remain stable,” McCully said. 1 position.

Mortgage 377