California-based Pennymac Financial Services’s broker division, Pennymac TPO, launched a home equity loan product as tappable home equity nears its 2022 peak. “Pennymac’s broker partners can now offer their clients a home... Read more »
The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in... Read more »
The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to... Read more »
The Department of Veterans Affairs (VA) is pausing foreclosures on homes financed with VA loans for six months to help military borrowers in danger of losing their homes, a department spokesperson said... Read more »
CUSO Home Lending rolled out Dark Matter Technologies’ Empower loan origination system (LOS) for its credit union owners. CUSO Home Lending — a lender owned by Maine credit unions — became the... Read more »
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $1,015 on each loan they originated in the third quarter of 2023. That’s nearly double the... Read more »
What is Fannie Mae’s 5% down payment loan for multi-family homes? In a groundbreaking move, Fannie Mae has announced a new policy that is set to revolutionize the multi-family housing market. Starting... Read more »
The Federal Housing Administration (FHA) is working to offer a new partial claim option before the end of 2023, according to the federal housing commissioner at the U.S. Department of Housing and Urban Development (HUD), Julia... Read more »