Remove Insurance Remove Inventory Remove Investors Remove Loan Officers
article thumbnail

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

Housing Wire

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.

article thumbnail

VA-like housing bill proposed for first responders, teachers

Housing Wire

Mortgages would be subject to FHA loan limits. Homebuyers would pay an up-front mortgage insurance premium of 3.6 percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

Finance 469
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Home equity products light up a dark housing market

Housing Wire

“This is a watershed moment for many different reasons as now these [HEAs] can start to become more of a mainstream asset class that a significant number of investors will want to participate in. The news is just as positive in the more traditional home equity sector of HELOCs and CESs.

article thumbnail

ICE Mortgage Technology President Tim Bowler on mortgage automation

Housing Wire

TB: It seems like each mortgage process should be relatively standardized because we’re manufacturing loans — the vast majority of which will be purchased by the two GSEs or insured by FHA , VA or USDA. And then closing as fast as possible because we’re still in a tight housing market with tight inventory.

article thumbnail

How mortgage lenders are navigating life at 6%

Housing Wire

Investors asked for higher premiums to invest in these assets amid a flight to quality caused by the expectation of higher U.S. “Even though the market may have priced in some of the rate change already, the volatility is just requiring additional yield to be provided to investors to accommodate for the changes going on.”

Mortgage 383
article thumbnail

How loan originators survived a cutthroat mortgage business in 2023

Housing Wire

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Business 427
article thumbnail

The Apple Peeled - Ask the Experts: Market Dynamics with Jonathan Miller

Miller Samuel

Overall inventory is up by about 17%, with a significant amount of supply coming from the studio and 1-bedroom market. Studio inventory is up 21% percent. Miller said that real estate investors should stop trying to perfectly time the market (both with rate and supply vs. demand). Real estate) is more of a long-term asset.”.

Marketing 221