Housing Wire

APRIL 25, 2023

The program is available for buyers who met the requirements and are purchasing a home in countries across 10 metropolitan areas. To qualify, borrowers must have an income equal to or less than 140% of the area median income (AMI) and meet all other Freddie Mac lending guidelines.

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Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. The post Real estate brokerage Radius unveils mortgage-lending arm appeared first on HousingWire.

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Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. The home-only lending market presents several major opportunities.

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Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

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Housing Wire

MAY 2, 2024

Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said. In February, it announced the hiring of James Hecht , former head of production and executive vice president for national retail lending at Newrez , as its CEO. .” According to Scotsman Guide , Potempa was the No.

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Loan Officers Mortgage Retail Lending 414

Housing Wire

OCTOBER 12, 2023

Buyers can save up to 40 basis points on any agency, government or non-qualified mortgage (non-QM) first-lien loans when working with a wholesale loan origination partner approved by The Loan Store, the Arizona-headquartered lender said. In April, the lender bought the wholesale lending business from the now-defunct Home Point Capital.

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Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

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Sellers Buyers Real Estate Contracts 424

Housing Wire

APRIL 2, 2024

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. The lender originated $9.6 billion in mortgages in 2023, according to estimates from Inside Mortgage Finance.

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Loan Officers Retail Finance Buyers 414

Housing Wire

MARCH 12, 2024

While rising interest rates affected all homebuyers, this impact was more pronounced among Hispanic households, many of whom are first-time buyers with lower median incomes and who live in higher priced markets,” according to NAHREP. That’s encouraged the ITIN buyers to come down and start buying.” I’ve even seen grandparents jump in.

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Real Estate Agent Real Estate Buyers Realty 450

Housing Wire

OCTOBER 18, 2023

. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.” 14-17 in Philadelphia. ”

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Housing Wire

APRIL 5, 2024

As ever, redlining — the intentional, systematic effort by American banks and government to refuse mortgages to African Americans and segregate U.S. racial, religious, or gender minority) at a greater rate, that policy may constitute lending discrimination. cities — looms in the background. But the results tell a different story.

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Mortgage Lending Buyers Property Management 413

Housing Wire

JANUARY 10, 2023

Ongoing affordability challenges are expected to limit buyers from entering the market in 2023, according to Fannie Mae , which will result in continued decline in home sales in coming months. On the buyer side, 21% said it was a good time to buy, an increase from 16% in November. recorded in October 2022.

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Buyers Lending Mortgage Government 477

Housing Wire

FEBRUARY 7, 2023

And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate.

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Mortgage Loan Officers Government Buyers 382

Housing Wire

MARCH 9, 2021

2%, and the Conventional MCAI that measures loans not backed by the government fell.3%. The Government MCAI that includes mortgages backed by the Federal Housing Administration , the Veterans Administration and the U.S. “Many of these potential buyers will likely utilize FHA and other low down payment loans to purchase a home.”.

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Mortgage Government Buyers Contracts 471

Housing Wire

MARCH 7, 2024

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. Warden said the largest buyers of triple AAA, or top-rated, RMBS are generally the large money managers. government is forecasting that it will need to issue some $1.8 It’s a matter of speed. …

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Investors Government Mortgage Investing 414

Housing Wire

JULY 19, 2022

Michael Loftin, CEO of Homewise , whose work revolves around sustainable homeownership, suggested HUD take a cue from the government-sponsored enterprises. Freddie Mac and Fannie Mae give [lenders] a little bump on their origination fee to encourage small-dollar lending,” said Loftin.

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Mortgage Finance Lending Development 382

Housing Wire

NOVEMBER 16, 2022

“Many lenders are offering temporary buydowns on government sponsored enterprise/Ginnie Mae loans, but the non-agency homebuyer has fewer options,” Bob Johnson, chief operating officer at NewRez, said in an email. “By

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Sellers Government Retail Buyers 382

Mortgagebroker News

SEPTEMBER 30, 2022

The government intends to prevent home purchases by foreign buyers starting from January

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Buyers Lending Government 69

Housing Wire

JUNE 9, 2022

A decline of the index, benchmarked to 100 in March 2012, indicates lending standards are tightening while an increase suggests loosening credit. Credit tightening was most notable in the government and jumbo segments, Kan added. Both the Conventional MCAI, which does not include loans backed by the government, decreased 0.4%

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Mortgage Government Inventory Lending 393

Housing Wire

NOVEMBER 7, 2023

Mortgage professionals voiced their concerns of the potential ripple effects that might have on those cash-strapped buyers, depending on the results of the commission lawsuits. “It Potter added: “Government lending would come to a halt. “But agent commissions have never been a closing cost from a buyer perspective.

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Agents Sellers Buyers Finance 450

Housing Wire

MARCH 5, 2024

An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. Raunaq Singh wanted to capitalize on that opportunity and founded Roam , a platform that helps buyers and sellers with the assumption process. Launched in September 2023, the company secured $1.25

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Mortgage Buyers Agents Real Estate Agent 433

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. REALITY: The appraisal process is similar to conventional and other government-sponsored loans. David Smith is the VP of National VA Lending at loanDepot.

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Mortgage Renovations Appraisal Process Finance 433

Housing Wire

FEBRUARY 3, 2021

The federal government said Lajewski masterminded the scheme and brought along Siekowski, Bobrowicz and Bukowski to make false representations that caused buyers of Lajewski’s properties on the South Side of Chicago to fraudulently obtain mortgages from various lenders. A more secure closing process for everyone involved.

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Mortgage Government Real Estate Development 393

Housing Wire

DECEMBER 30, 2022

This is the result of several forces: the Fed’s anti-inflation policy; the rapid deceleration in lending that’s resulted in a 40% drop in applications; the rising cost of mortgage production, which has now broken the $10,000 per loan threshold; and the continued drive towards digitization in mortgage lending.

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Lending Transportation Government Mortgage 382

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. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. It never will be. I’ll explain later.)

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Agents Buyers Sellers Inventory 404

Appraiserblogs

JANUARY 8, 2024

The seeming destruction of the appraisal profession by the federal government, GSEs and lending stakeholders is a collective action problem. Appraisers are responding to new GSE and lending dictates with reactions based on our own personal well-being. It is appraisers who are destroying the message.

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Appraisal Valuation Lending Contracts 134

The Appraiser Coach

SEPTEMBER 14, 2021

Appraisers have been accused of being “speed bumps” in the lending process. We frustrate buyers, sellers, loan officers and, sometimes, real estate agents. In some ways, I can understand their. Read More.

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Agents Appraisal Real Estate Agent Loan Officers 370

Housing Wire

MAY 11, 2021

A decline in the MCAI suggests that lending standards are tightening while a higher number suggests loosening credit standards. The MCAI on conventional loans increased 4.8%, while MCAI on government loans increased by 0.1%. last month. The purchase market is as buoyant as ever — Redfin is forecasting $2.5

Mortgage 498

Mortgage Lending Housing Market Government 498

Housing Wire

JUNE 1, 2021

How hybrid title and valuations help increase lending efficiency. Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer. Developers, lenders or local governments could compete for the funds through an application process.

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Renovations Development Investors Legal 502

Housing Wire

JULY 12, 2022

A decline of the index, benchmarked to 100 in March 2012, indicates lending standards are tightening, while an increase suggests loosening credit. . while the government MCAI dipped by 1.7%. The monthly Mortgage Credit Availability Index (MCAI) fell by 0.3% in June, according to the Mortgage Bankers Association.

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Mortgage Government Inventory Lending 382

Housing Wire

SEPTEMBER 11, 2023

To get there, Cliffco, which has been in business since 1987, is going after the non-qualified mortgage ( non-QM ) market and investing in tech to get in front of buyers and non-agent referral partners. Non-QM ripe for the taking Faced with a lack of inventory across the country, lenders have been exploring ways to create new buyers.

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Loan Officers Agents Retail Technology 393

Housing Wire

NOVEMBER 10, 2021

The dip in rates might have helped to bring some buyers back into the market, but housing inventory is still extremely low and price growth remains elevated.”. Regarding government-guaranteed lending, the FHA share of total applications decreased to 8.8% The MBA estimates that refis will amount to $2.26 the week prior.

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Mortgage Government Inventory Lending 393

Housing Wire

FEBRUARY 1, 2023

Nunziata explained that offering prospective homebuyers a $10,000 discount off the sales price of a $400,000 home, for example, will save the buyer about $60 a month on his or her mortgage payment. “So, You can see that’s a really big impact for that first-time buyer, giving them the ability to kind of ease into that payment.”

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Marketing Government Mortgage Sellers 404

Housing Wire

JULY 15, 2021

in June to 118.8 — indicating that lending standards are tightening, per the Mortgage Bankers Association’s Mortgage Credit Availability Index. ” The conventional MCAI decreased 17.1%, and the government MCAI decreased by 1.4%. . ” The conventional MCAI decreased 17.1%, and the government MCAI decreased by 1.4%.

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Mortgage Government Inventory Lending 450

Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand.

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Inventory Law Housing Market Design 543

Housing Wire

MAY 5, 2022

The government sponsored enterprise’s index accounts for purchase mortgages reported by lenders over the past three days. While housing affordability and inflationary pressure pose challenges for potential buyers, house price growth will continue but it is expected to decelerate in the coming months.”. from the previous week.

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Mortgage Buyers Government Lending 370

Housing Wire

DECEMBER 27, 2023

Meanwhile, Planet Home Lending, the only lender among the top-14 to increase origination volumes from January to September, compared to the same period last year, said it wants to also grow its servicing business. . ” Planet Home Lending: Focusing on MSRs Some M&A transactions are not motivated purely by the origination platform.

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Mortgage Retail Lending Sellers 414