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About 82% of origination comes from purchase mortgages

Housing Wire

Overall mortgage rate lock took a hit in May, led by a drop in refinance activity, both for rate-term refis and cash-outs. Rate/term refinance lending activity declined 23.6% Cash-out refinance locks also dropped 11.9% Rate locks were down 4.8% in May from the previous month and was down 89.9%

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Digital lender SoFi contemplating IPO

Housing Wire

While it is best known for refinancing student loans, the startup also offers a variety of other financial products, including personal loans, small business loans, home equity loans and mortgages. SoFi has made a big push in recent years to move beyond a specialization in student loan refinancing. billion as of Dec.

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How record-low mortgage rates changed everything in 2020

Housing Wire

With borrowers hopping on these low rates, economists began to see a glimmer of heightened refinance activity after a low turn-out for refi’s in December predicted a possible end to the refi boom. Still, that didn’t stop most lenders from limiting new originations and hoarding cash. Sales of new homes spiked 18.6%

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Interfirst purchased refinance leads and sent them to Woodward to close. The consensus from mortgage executives and analysts alike is that lenders who did well with purchase mortgages in 2021 – and appear well-positioned to ride out the storm in 2022 – are those who can get closer to the borrower. The work was not complex, he said.

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Can You Have A Second Mortgage With A VA Loan?

Quicken Loans

If you want to refinance and take advantage of the current low interest rate environment, but you don’t want to get rid of your home equity line of credit (HELOC) or other secondary financing, you have an option when it comes to Department of Veterans Affairs (VA) home loans. How To Refinance A VA Loan And Keep A Second Mortgage.

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Guide to VA Loans: How They Work and Who Qualifies

PennyMac

Pennymac proudly supports our nation's heroes by offering Department of Veterans Affairs (VA) loans. We service over 445,000 VA loans on behalf of service members, veterans and their families – over 43,000 of which originated in the first 9 months of 2023.* As of 9/30/2023 What Is a VA Loan? How Does a VA Loan Work?

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Affordable Lending: Homebuyer Assistance Programs

PennyMac

Many people think purchasing their first home is financially out of reach. Freddie Mac HomeOne® The Freddie Mac HomeOne® mortgage is a low down payment program available to qualified first-time homebuyers, no cash-out refinance borrowers and other homebuyers, regardless of income level or geographic location.

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