Housing Wire
JANUARY 17, 2024
That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? According to the Federal Housing Administration (FHA), there were only 2,063 HECM for Purchase loans endorsed in 2022 — that’s less than 1/10th of 1% of homes sold last year.
Housing Wire
SEPTEMBER 14, 2023
Department of Housing and Urban Development ( HUD ) called FHA Connection, a database used to insure and generate FHA case numbers associated with the borrower’s home loan application. When the borrower is denied for an FHA mortgage loan, an MCR report had to be created for that denial.
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Housing Wire
OCTOBER 6, 2023
New American Funding ’s partnership with Matic Insurance and OneSource Solution will provide insurance and home setup services for existing and new customers while NAF is processing the loan. billion in production volume in the first half of 2023, according to Inside Mortgage Finance (IMF).
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.
Housing Wire
AUGUST 14, 2023
Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. Kostegian added that about 5,000 approved insurance agents can also originate a mortgage with Rocket, Lazerson wrote.
Housing Wire
NOVEMBER 2, 2023
Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender. million , down from $26.5
Housing Wire
MARCH 29, 2024
A passion for technology led her to work in the fintech and blockchain spaces, and she has now turned her attention to the senior finance space by founding a company called Graceful Finance. I came to their offices to speak to their loan officers, processors and customers because they told me, ‘We would love to do more.
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