Housing Wire

APRIL 15, 2024

In their guidance issued on Monday, the GSEs note that “fees or costs customarily paid by the property seller according to local convention are not subject to these financing concessions limits.” Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered.

Buyers 529

Buyers Agents Real Estate Agent Sellers 529

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.

Lending 469

Lending Retail Finance Insurance 469

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 430

Mortgage Technology Lending Marketing 430

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

Loan Officers 437

Loan Officers Mortgage Finance Buyers 437

Housing Wire

JANUARY 31, 2024

United Wholesale Mortgage (UWM) announced Wednesday that it’s allowing its broker partners to offer a temporary discount of 100 basis points (bps) for conventional rate-and-term refinances. The discount is valid on new loan locks through March 29. But there’s no seasoning requirement on loans originated by other companies.

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Government Mortgage Clients Business 431

Housing Wire

OCTOBER 12, 2023

Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year, fixed-rate mortgage averaged 7.57% as of Oct. Other indices showed significantly higher home loan rates this week. That’s up 8 basis points from 7.49% the previous week.

Mortgage 382

Mortgage Investors Housing Market Marketing 382

Housing Wire

NOVEMBER 15, 2023

The wholesale lender will cover up to $600 of the appraisal cost on all conventional and government-backed home loans until March 31 when a broker uses UWM’s 1-0 temporary rate buydown. Later that year, the wholesale lender provided temporary rate buydowns for jumbo loans , and expanded options to 3-2-1 and 1-1 buydowns.

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Appraisal Real Estate Agent Sellers Government 399

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.

Mortgage 460

Mortgage Government Marketing Finance 460

Housing Wire

OCTOBER 2, 2023

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Monday raised agency conforming loan limits to $750,000, ahead of the Federal Housing Finance Agency’s (FHFA) decision expected in November. in 2024 (the current limit on conventional loans is $726,200). That’s only a 3% or 3.5%

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Government Finance Design Mortgage 426

Housing Wire

SEPTEMBER 7, 2023

Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept. HousingWire’s Mortgage Rates Center showed Optimal Blue’s 30-year fixed rate for conventional loans at 7.20% on Wednesday, compared to 7.07% the previous week.

Housing Market 426

Housing Market Mortgage Marketing Contracts 426

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. The regulator compares home prices year over year and adjusts the limit by the corresponding amount.

Finance 532

Finance Government Law Mortgage 532

Housing Wire

FEBRUARY 22, 2024

As demand for homes continues to outpace new listings, CrossCountry Mortgage (CCM) is introducing a new cash-offer product, the company announced Thursday. The product is limited to conventional loans, primary residences and buyers who are represented by a real estate agent. “In this past September.

Mortgage 361

Mortgage Real Estate Agent Retail New Listings 361

Housing Wire

APRIL 18, 2024

N early 58% of this total was conventional loans and 55% was purchase loans. As of Thursday, the bank had 155 sponsored loan officers, according to the Nationwide Multistate Licensing System (NMLS). Last year, the community bank originated about $435 million in mortgage volume, per mortgage data platform Modex.

Mortgage 396

Mortgage Realty Loan Officers Retail 396

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.

Finance 412

Finance Buyers Mortgage Inventory 412

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “So,

Loan Officers 356

Loan Officers Finance Mortgage Lending 356

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. Who is eligible?

Mortgage 435

Mortgage Renovations Appraisal Process Finance 435

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

Loan Officers 351

Loan Officers Insurance Mortgage Real Estate Agent 351

Housing Wire

DECEMBER 21, 2023

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.68% on Thursday. A rise in homebuilder confidence , followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low.”

Mortgage 497

Mortgage Inventory Construction Marketing 497

Housing Wire

SEPTEMBER 14, 2023

Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Sept. HousingWire’s Mortgage Rates Center showed Optimal Blue’s 30-year fixed rate for conventional loans at 7.16% on Tuesday, compared to 7.20% the previous week.

Mortgage 427

Mortgage Inventory Buyers Investors 427

Housing Wire

APRIL 7, 2023

Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. We believe this is the best decision for our company to continue to deliver value to Home Point shareholders.”

Business 521

Business Investors Mortgage Marketing 521

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.

Loan Officers 402

Loan Officers Development Mortgage Real Estate 402

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

Loan Officers 372

Loan Officers Retail Finance Buyers 372

Housing Wire

MARCH 5, 2024

Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. The Mortgage Bankers Association (MBA) has registered three straight weeks of purchase loan application declines as mortgage rates have risen. one week earlier.

Mortgage 443

Mortgage Inventory Sellers Investors 443

Housing Wire

NOVEMBER 1, 2023

27, total home loan applications fell 2.1% Purchase applications for government-backed loans declined significantly more than conventional loans. Purchase applications for government loans fell by 3% and refi applications for those loans fell by 9% week over week. For the week ending Oct.

Mortgage 402

Mortgage Government Marketing Finance 402

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

Lending 381

Lending Design Government Tools 381

Housing Wire

APRIL 26, 2024

Homebuyer affordability declined in March as mortgage rates and home prices remained elevated. An increase in the MBA index — indicative of declining borrower affordability conditions —means that the mortgage-payment-to-income ratio is higher due to increasing loan amounts, rising mortgage rates or a decrease in applicant earnings.

Mortgage 272

Mortgage Housing Market Buyers Marketing 272

Housing Wire

NOVEMBER 2, 2023

According to its website, Trustar Bank offers 7/1 and 10/1 adjustable rate mortgages ( ARMs ), consumer construction loans and home equity line of credits. It has 18 mortgage loan officers , per the National Multistate Licensing System (NMLS).

Mortgage 389

Mortgage Loan Officers Construction Retail 389

Housing Wire

APRIL 11, 2024

It will initially be made available for its home equity line of credit (HELOC) product first before being rolled out to other lending products. The DART System is pre-integrated with Figure’s origination and loan-sale services. “We Synergy One Lending is the first partner to use the platform, Figure said.

Lending 308

Lending Technology Design Buyers 308

Housing Wire

NOVEMBER 10, 2023

home purchases, compared to 29.5% Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. a year ago, according to a Redfin report.

Mortgage 430

Mortgage Buyers Insurance Government 430

Housing Wire

AUGUST 10, 2023

Wells Fargo rolled out a down payment grant program that will offer $10,000 to eligible buyers or homeowners who currently live in or are purchasing homes in underserved communities in eight metropolitan areas. The Homebuyer Access grant program is available to those who have a combined 120% or less of the area median income (AMI).

Buyers 370

Buyers Lending Mortgage Finance 370

Housing Wire

AUGUST 8, 2023

As a result, many companies tried to reduce their operational costs by narrowing their loan product offerings, according to Joel Kan, Mortgage Bankers Association ’s vice president and deputy chief economist. One key driver of this month’s decline was a drop in cash-out refinance loan programs,” said Kan. last month. “One

Mortgage 313

Mortgage Government Lending 313

Housing Wire

MARCH 29, 2024

The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

Mortgage 346

Mortgage Lending Finance 346

Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. It also says it processes, underwrites and funds loans in-house. More than 50 mortgage loan officers were let go.

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Human Resources Mortgage Loan Officers Finance 409

Housing Wire

APRIL 18, 2024

On Thursday, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.31%, up from 7.19% a week earlier. Furthermore, the median price for all types of existing homes rose to $393,500 in March, an increase of 4.8% Despite the challenging housing market, demand isn’t fading.

Mortgage 314

Mortgage Housing Market Realtors Inventory 314

Housing Wire

OCTOBER 25, 2023

Buyers that did manage to purchase homes made higher down payments as home-price growth remained stubbornly elevated in Q3, according to a new report from LenderLogix. The average of preapproved borrowers per loan officer fell by 11.6% The average of preapproved borrowers per loan officer fell by 11.6% days in Q2.

Buyers 400

Buyers Marketing Loan Officers Mortgage 400

Housing Wire

JULY 13, 2023

Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.96% as of July 13, up from last week ’s 6.81%. As a result, home purchases are slowing and more pressure is added on home and rental prices.

Mortgage 356

Mortgage New Listings Buyers Inventory 356

Housing Wire

AUGUST 31, 2023

Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Aug. HousingWire’s Mortgage Rates Center showed Optimal Blue’s 30-year fixed rate for conventional loans at 7.07% on Wednesday, compared to 7.22% the previous week.

Mortgage 394

Mortgage Housing Market Contracts Buyers 394