Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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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.

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Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. points – on FHA and VA refinances available to brokers until Jan. points, 5.999% paying 2 points and 6.249% paying 2.5

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Housing Wire

FEBRUARY 6, 2024

Department of Veteran Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to a report in The Wall Street Journal. The fees are typically lower than those of new loans and no appraisal is needed. Assumable mortgages remain a niche market compared to new mortgage issuance.

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Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

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Housing Wire

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct. This represents a 3.2%

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Housing Wire

MARCH 11, 2024

for cash-out loans. Purchase lock counts, which control for changing home prices, rose 7% from January. The index for Federal Housing Administration (FHA) loans rose 28 bps to 6.66%, while the U.S. Department of Veterans Affairs (VA) index rose 41 bps to 6.50% and the jumbo index rose 37 bps to 7.35%.

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Housing Wire

FEBRUARY 11, 2022

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB). . The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated. In 2020, 3.82

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Appraisal Buzz

APRIL 15, 2024

LenderLogix , a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, has released its first-quarter Homebuyer Intelligence Report, a summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools.

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Quicken Loans

DECEMBER 3, 2021

A VA loan is one of the most widely used benefits available to veterans and military service members. VA Loan FAQs. Below, we’ve assembled some of the most frequently asked VA loan questions to help you understand your benefits. What are the advantages of a VA loan? Who qualifies for a VA loan?

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Housing Wire

DECEMBER 20, 2023

Total home loan applications decreased by 1.5% VA refinance applications jumped 18% for the week, but otherwise, both refinance and purchase applications showed small declines.” The share of Federal Housing Administration (FHA) loan activity decreased to 15.5%, down from 16.1% for the week ending Dec.

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Housing Wire

MARCH 29, 2022

Origination volume in the Veterans Affairs (VA) universe amounted to $388 billion in 2021, an analysis of Home Mortgage Disclosure Act (HMDA) data by Polygon Research application HMDAVision found. The top 10 VA lenders by volume in 2021: Freedom Mortgage Corp. Still, its VA originations fell by 23.17% from the prior year.

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Housing Wire

SEPTEMBER 16, 2022

Department of Veterans Affairs mortgage loans. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether. A companion bill in the Senate, introduced by Sen.

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Housing Wire

SEPTEMBER 15, 2023

Take that information and provide a Facebook Live session or a series of Facebook Lives , invite your friends and followers to learn more about these loan programs. Work with a lender who specializes in first responder types of loans, FHA , VA and HUD programs and interview them for a video, Facebook live session or if you have a podcast.

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Housing Wire

APRIL 9, 2024

So, it’s not surprising to see the administration and members of Congress announcing big-ticket legislative initiatives to boost homeownership — like a first-time homebuyer tax credit and the Neighborhood Investment Act to fix up older homes. The Community Home Lenders of America (CHLA) applauds these initiatives.

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Sellers Realty Insurance Realtors 442

Housing Wire

JANUARY 31, 2024

Mortgage company Evergreen Home Loans is continuing its expansion across the country with the opening of new branches in Montana, the company announced on Wednesday. “We Department of Veterans Affairs (VA) and U.S. We’re excited to bring our personalized approach to mortgage solutions to the residents of Montana.”

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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%).

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Housing Wire

MARCH 22, 2023

Redfin attributed the drop in down payment amount and percentage to the slower housing market , lower home prices, and higher housing costs due to rising mortgage rates. Most offers on homes written by Redfin agents in January were not part of bidding wars , which differs significantly from 2021 and early 2022. in January 2023.

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Housing Wire

FEBRUARY 12, 2024

Mortgage rates continued their downward trajectory at the start of 2024, incentivizing homebuyers to apply for loans. Brennan O’Connell, data solutions manager at Optimal Blue, also noted that January’s year-over-year decline in purchase lock counts, which exclude the impact of changes in home prices, was the lowest seen since May 2022.

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Housing Wire

MARCH 22, 2023

Department of Veterans Affairs (VA) announced on Wednesday that it will lower the VA Native American Direct Loan (NADL) program interest rate from 6% to 2.5% in an effort to make housing loans more affordable for Native American military veterans. interest rate for the life of the loan. from 2012 to 2021.

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Quicken Loans

JANUARY 11, 2022

What is a VA loan, how does it work, and are you eligible to obtain one? That’s because a VA loan is a type of home mortgage loan that offers preferred terms to borrowers who have served and currently serve our nation. Department of Veterans Affairs (VA). What types of VA home loans are available?

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Housing Wire

MARCH 5, 2024

Housing affordability is at its lowest level in more than a decade, according to the National Association of Home Builders (NAHB), and there are few ways to circumvent the rising costs of housing. Typically, the fees are lower than those for new loans and no appraisal is needed. trillion in FHA and VA loans.

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Housing Wire

MAY 25, 2022

The Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who apply for a joint loan. The VA did not immediately respond to requests for comment. The post VA removes pre-approval process for some loans?

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Housing Wire

NOVEMBER 7, 2023

loanDepot has appointed David Smith to the newly-created position of vice president of national VA lending, the company announced on Monday. In this role, Smith, a former Army sergeant, will oversee the lender’s VA lending strategy. Smith’s promotion follows the departure of Patton Gade , the nation’s top VA loan originator in 2022.

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Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

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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.

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Mortgage Government Marketing Finance 461

Housing Wire

APRIL 20, 2022

According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. The GAO said that the VA lacked the staff to run the lending program and failed to inform communities that it exists. from 2012 to 2021.

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Housing Wire

APRIL 10, 2024

loans from mortgage services and place them in its portfolio at a fixed 2.5% The estimate is based on the savings from avoiding foreclosures compared to the cost of purchasing these homes. Secretary Denis McDonough said in a statement that the program “will help more than 40,000 veterans and their families stay in their homes.”

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Housing Wire

FEBRUARY 28, 2024

California is home to roughly 39 million people, making it by far the nation’s most populous state. of its occupied homes were owner-occupied, the third lowest percentage in the U.S. Landing a California home is hard and expensive – especially in San Diego. Mortgage With fewer listings come fewer home sales.

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Marketing Mortgage Realty Brokerage 421

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. Currently, all VA appraisals must be performed in-house. Dan Sullivan of Alaska and Congressman Mike Bost of Illinois, would address a long-standing gripe that VA appraisal requirements are both lengthy and costly.

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Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

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Lending Advertising Mortgage Law 375

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

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Housing Wire

MARCH 26, 2024

Of these actions, 2.682 million have been permanent loan modifications and 3.519 million actions have been other forms of assistance that allowed troubled borrowers to stay in their homes. Loan modifications dropped from 14,363 in Q3 to 12,758 in Q4, an 11.2% The rate for U.S.

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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

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Loan Officers Mortgage Finance Buyers 437

Housing Wire

JANUARY 31, 2024

“Low existing housing supply is limiting options for prospective buyers and is keeping home-price growth elevated, resulting in a one-two punch that continues to constrain home purchase activity.” Meanwhile, rates on jumbo loans (greater than $766,550) also remained unchanged at 6.94%. Last week, refis comprised 34.2%

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Mortgage Retail Buyers Finance 403

Housing Wire

MAY 12, 2021

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans , said her client has all but given up on buying an existing home with VA financing.

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Mortgage Government Clients Construction 427

Housing Wire

DECEMBER 6, 2023

Total home loan applications increased 2.8% The share of Federal Housing Administration (FHA) loan activity increased to 15%, down from 13.5% The share of Department of Veterans Affairs (VA) loan activity was 12.8%, up from 12.6% Department of Agriculture (USDA) loan activity remained unchanged at 0.5%.

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