Tag Archives: USDA

Cap on servicer fees for FHA loan assumptions doubled to $1,800

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While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly. Continue reading →

Assumable loan platform Roam offers seller closing guarantee

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If it takes longer than 60 days from the time an offer is accepted until close of escrow, Roam will make the homeseller’s mortgage payments for up 60 days after the scheduled closing date. Continue reading →

First-time homebuyers may be driving FHA, VA loan surge

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Applications for government-backed purchase mortgages were up 4 percent week over week, accounting for nearly 1 in 4 loan requests from homebuyers, according to the Mortgage Bankers Association. Continue reading →

As rates rose, demand for mortgages dwindled every month in Q2

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Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight. Continue reading →

Homebuyers are beginning to seek smaller mortgages as rates rise

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As demand picks up for government loans favored by entry-level buyers, the average purchase mortgage request has shrunk by 10 percent, to $413,500. Continue reading →

What the US climate-risk review means for FHA, VA loans and more

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Government agencies are looking to better quantify risks from climate change, a step with implications for government-backed home loans. Continue reading →

Deep dive into mortgage data claims glaring racial disparities

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Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to in-depth analysis by The Markup, a nonprofit newsroom that’s “watching big tech.” Continue reading →