Housing Wire

MARCH 18, 2022

When Curtis Mangus of Premier Mortgage Resources in Meridian, Idaho looked into pivoting into reverse after serving decades in the traditional mortgage business, he asked his managing partner at the lender about its reverse mortgage department. You are the reverse mortgage department,” he said. The partner smiled. “

Real Estate 438

Real Estate Real Estate Agent Mortgage Agents 438

Housing Wire

NOVEMBER 7, 2022

Executives at the mortgage lender announced their decision in a letter sent on Wednesday to business partners and employees, which was reviewed by HousingWire. But in the current mortgage landscape, with crazy rate spreads and shy investors, non-QM can be a dangerous space. and Sprout Mortgage. and Sprout Mortgage.

Lending 416

Lending Investors Business Mortgage 416

Housing Wire

APRIL 26, 2022

HousingWire recently spoke to Jonathan Scarpati, Senior Vice President of Wholesale Lending at Finance of America Reverse, about tapping into the reverse mortgage market in light of the changing market. . It’s also essential for originators to understand that reverse mortgages are not loans of last resort.

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Housing Market Business Mortgage Marketing 344

Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. Leslie Rouda Smith, president of the NAR, used her own letter to the FHA to explain the trade group has been “concerned” about the pandemic’s impact on the housing market.

Insurance 412

Insurance Mortgage Realtors Housing Market 412

BiggerPockets

JULY 29, 2023

Learn how to calculate your mortgage payment with our easy mortgage formula. Every aspect of your mortgage payment is explained here in detail.

Mortgage 64

Mortgage Finance 64

Housing Wire

APRIL 30, 2021

The FHFA’s announcement that they will be reducing mortgage purchases to 7% of a lender’s pipeline of second home and investment properties has thrown some originators’ volume into disarray. If you’re forced to go to the private market, the mortgage rate will definitely be higher but there will be more loan options to chose from.

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Investors Investing Clients Retail 396

Housing Wire

FEBRUARY 14, 2023

Managing a profitable mortgage business can be challenging in the best of markets. Mortgage servicing rights (MSRs) are valuable assets for mortgage lenders when origination business is slow. But lenders must also consider mortgage originator’s loan product innovation. of all mortgage applications.

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Modernization Insurance Investors Tools 311

Housing Wire

MAY 28, 2021

As borrowers impacted by COVID-19 continue to exit mortgage forbearance, now is the time for lenders and servicers to be proactive in their borrower outreach to reduce foreclosure volume. Less than two months after a missed mortgage payment, servicers typically contact borrowers to discuss potential options.

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Tools Clients Legal Design 421

Housing Wire

AUGUST 18, 2023

Learn that information before you arrive at the appointment so you can better strategize, explain the pricing strategy and consider how to ultimately price the home. Have the new build salespeople explain their different mortgage plans to you. You should always find out how they arrived at ‘their’ price.

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Sellers Construction Real Estate Finance 346

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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Housing Market Marketing Buyers Investors 414

Housing Wire

OCTOBER 5, 2022

We’re also concerned about the increase in rents – we’re seeing some rental payments that are well beyond what people pay for their mortgages.” When we look at the Fannie and Freddie books, from a credit risk perspective , you’re getting mortgages with 2%, 2.5%, maybe even 3%. The predominance is Spanish.

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Appraisal Tenants Mortgage Appraisal Process 329

Housing Wire

OCTOBER 29, 2021

The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. These Home Equity Agreements allow them to access their increased home equity without monthly payments or taking on additional debt.”.

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Advertising Investing Mortgage Tools 317

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . And HousingWire brought us together for a spirted “Lunch and Learn” debate on the topic. So why would we extend it to IMBs?

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Lending Mortgage Insurance Finance 304

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. As borrowers reel from the sticker shock of conventional mortgages , lenders could see a surge of demand for alternative lending products, such as adjustable-rate mortgages (ARMs), for the first time since the financial crisis.

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Lending Loan Officers Development Mortgage 326

Housing Wire

JANUARY 28, 2021

The CARES Act allows borrowers to pause their mortgage payments for up to 12 months and calls for lenders and servicers to work through specific forbearance plans with borrowers who may be facing tough decisions. Our goal as servicers is to make that default wave as small as possible,” Johnson explained.

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Mortgage Clients Investing Tools 353

Housing Wire

MAY 17, 2022

Gordon already possessed a vast knowledge of the workings of the Federal Housing Administration , a complex agency within HUD, and the government’s premier mortgage financing product serving first-time homebuyers and borrowers of color. “I I always used to joke with her that she knew more about the program than I did,” Golding said.

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Insurance Development Housing Market Mortgage 306

Housing Wire

JANUARY 28, 2022

Milo , a Miami-based digital lender, announced last week that it is rolling out a crypto mortgage product to clients with digital currency. Can you explain to me a little bit how this transaction works? MV: In Milo’s press release, there was mention of a waitlist for the crypto mortgage. Josip Rupena: It’s not a deposit.

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Mortgage Investors Real Estate Clients 281

Housing Wire

DECEMBER 6, 2022

However, when mortgage rates started rising in the spring, Summers encouraged her clients to take advantage of the bank’s mortgage rate lock product. range, versus closing on their mortgage now when their homes are finally finished being built and rates are around 7.0%,” said Summers, a Keller Williams agent in Provo, Utah.

Real Estate 348

Real Estate Real Estate Agent Clients Agents 348

Lamacchia Realty

JANUARY 23, 2023

8 STEPS TO TAKE BEFORE PURCHASING YOUR FIRST HOME In this guide, you’ll learn the steps you should take before purchasing your home. Step 1: Start saving a down payment. One of the essential steps to buying a house for the first time is understanding what you can afford and saving for the down payment. This is the fun part!

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Real Estate Agent Inspection Realty Real Estate 72

Housing Wire

OCTOBER 20, 2023

This could include posting information regarding down payments, typical closing costs to expect, first-time homebuyer programs available, and tips on navigating lending. Quiz them on the average price for a home in your area, what down payment is needed, the meaning of certain real estate terms, and more.

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Real Estate Agents Real Estate Agent Clients 337

PennyMac

MARCH 4, 2024

If you’re like most people embarking on a home-buying journey, one of your first steps will be finding a mortgage lender. A good mortgage lender is a valuable resource and can make the home-buying process easier and less stressful. Mortgage brokers. When comparing lenders, it’s worth taking your time and choosing carefully.

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Loan Officers Insurance Mortgage Sellers 65

McKissock

MAY 11, 2022

Explain the realities of a hot real estate market to “browsers.” The buyer has undergone a credit check, completed a pre-approval application for a mortgage loan , and provided documentation to the lender. 4: They have a down payment in hand. Truly motivated home buyers will already have a down payment in the bank. #5:

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Real Estate Clients Marketing Buyers 77

McKissock

AUGUST 30, 2022

In other words, USPAP doesn’t prohibit a mortgage broker from calling and asking you to develop an appraisal based on a predetermined value, but USPAP does prohibit you from accepting that assignment. Avoid this by explaining why you cannot guarantee a value or remove that deferred maintenance photo from your report.

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Appraisal Clients Inspection Lending 81

Lamacchia Realty

OCTOBER 31, 2022

Amidst ceaseless mortgage rate hike and inflationary headlines , the mortgage industry is abuzz with talk of buydowns. Buydowns aren’t a new product, on the contrary they’ve been around for a long time, but they’re resurfacing now as a mechanism to combat the rising mortgage rates. What is a 2-1 Buydown? See example above.

Sellers 64

Sellers Buyers Mortgage Real Estate Agent 64

Housing Wire

DECEMBER 26, 2022

At many title firms, the slowdown in homebuyer demand, due to rising mortgage rates and higher home prices, meant a decrease in order volumes. On top of slowing purchase order volume, rising mortgage rates also decimated refinance orders. What happened to the market?’”. A thoroughly modern threat: Wire fraud.

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Insurance Bracketing Legal Business 461

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” ” Unfortunately, our lender hadn’t explained much about the rules and restrictions surrounding an FHA loan. We learned the hard way—after it was already a done deal. ” I asked.

Inspection 136

Inspection Insurance Buyers Renovations 136

McKissock

APRIL 30, 2021

Here are the seven valid sale types, explained in detail below: REO sale. Learn all about REO appraisals in our top-rated CE course: Appraisal of REO and Foreclosure Properties. Usually, the homeowner is suffering some type of financial hardship which is preventing them from meeting the mortgage payments. Short sale.

Market Value 88

Market Value Real Estate Appraisal Sellers 88

Assurance Financial

JUNE 14, 2021

These loans are perfect for borrowers with a strong credit history and the funds for a more substantial down payment. Conventional loans offer the ability to avoid the costs of mortgage insurance while also giving borrowers the option of fixed or adjustable rates. What are the down payment requirements? Downloadable Guides.

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Insurance Construction Mortgage Buyers 69

Cornerstone

MAY 18, 2021

If so, you may be looking at enough funds to cover some or all of your down payment. Are you among those who’ve saved your economic impact payments? You might consider putting this toward your down payment or closing costs. You might consider putting this toward your down payment or closing costs.

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Technology Investing Contracts Mortgage 54

McKissock

AUGUST 10, 2021

Another defining Gen Z homebuyer characteristic is a lower down payment than their Millennial predecessors or Gen X parents. Rather than putting down the traditional 15-20% down payment like their parents did, Gen Z home buyers are putting down 5% just to get their foot in the door despite the higher monthly payments.

Real Estate Agent 52

Real Estate Agent Real Estate Agents Buyers 52

Quicken Loans

SEPTEMBER 8, 2021

If you’re thinking about refinancing your mortgage , it’s good to be prepared. What documents are needed for a mortgage refinance? Lenders want to confirm that you’re earning enough income to afford the mortgage. Child support or alimony payment documentation. Documents Needed For Signing At Mortgage Refinance Closing.

Mortgage 63

Mortgage Insurance Investing Government 63

Assurance Financial

AUGUST 9, 2021

Below we’ve mapped out an overview of the USDA Rural Development Guaranteed Housing Loan Program, explaining how it works and if you’re eligible for loans. It aims to encourage the purchase of homes in rural or suburban areas by making mortgages easier for borrowers to obtain. Be unable to get a mortgage through other means.

Home Improvement 74

Home Improvement Insurance Development Finance 74

Assurance Financial

APRIL 29, 2021

Mortgage Lending Terminology . If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Adjustable-Rate Mortgage (ARM). Amortization. Annual Percentage Rate (APR).

Mortgage 69

Mortgage Insurance Sellers Inspection 69

Lamacchia Realty

JULY 26, 2023

Sales are down now due to major mortgage rate increases crushing buyer affordability, and sellers hesitating to list their homes because they don’t want to lose their low pandemic era rates. To learn more about inventory, click on the chart on the right. Number of Homes Sold Decreased by 24.8% for singles, 23.2% for multi-families.

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Sellers Inventory Buyers Contracts 57

Assurance Financial

OCTOBER 27, 2023

One significant advantage is that you can build equity as you pay off your mortgage over time. You can also use it to obtain funds via a second mortgage like a home equity line of credit , or HELOC. What Does HELOC Mortgage Mean? In this case, the HELOC will be your primary mortgage rather than a second mortgage.

Renovations 36

Renovations Mortgage Appraisal Housing Market 36

PennyMac

APRIL 5, 2023

Let’s take a look at how a temporary mortgage buydown concession could reduce your interest rate and make your initial monthly payments more affordable. What Is a Temporary Buydown on a Mortgage? Is Buying Down a Mortgage Right for You? Is Buying Down a Mortgage Right for You? What’s a mortgage point?

Mortgage 36

Mortgage Sellers Buyers Insurance 36

Movoto

JANUARY 31, 2022

You’ve worked with a real estate agent , toured an endless number of properties, got an offer accepted , navigated the mortgage process , and now you’re in the final stretch. The bank: Your mortgage lender. Signing mortgage documents at your home closing. Transferring payment at your home closing.

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Real Estate Agent Sellers Insurance Buyers 36