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DataDigest: What happens when insurance carriers abandon America’s biggest housing markets

Housing Wire

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We Insurance policies for homeowners are skyrocketing. I don’t just mean mandatory flood insurance, which itself has gotten quite a bit more expensive.

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FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Housing Wire

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. The client had just started a new job, and that can be tricky. Loan officers said that the FHA’s waiver will give borrowers a fairer shot at obtaining financing.

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Don’t expect a drastic housing market turnaround in 2023, Fitch Ratings says

Housing Wire

“A small offset or decline in home values, which we are starting to see, (…) can help that consumer who’s in the market for the first time,” Brown said. Brown anticipates more consolidation in the industry on the mortgage production side, as “there’s less than one loan being done by a loan officer per month on average,” he said.

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Winners and losers of this volatile housing market

Housing Wire

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. One of Dicker’s clients this past weekend backed out of a $295,000 houmese purchase in Michigan this past weekend. The last two years have been good to Christian Dicker.

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As mortgage rates near 8%, loan originators target first-time homebuyers

Housing Wire

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. They are staying busy relative to the market,” Ullmann said.

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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. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

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Desperate for deals, mortgage pros get creative

Housing Wire

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Niche loans consist of about 5% of Parkinson’s business. Being on multiple builders’ lists is a way to rack up more deals for loan officers. “A