Popular with 1st-time homebuyers, FHA loans have higher delinquency rates, and borrowers are more likely to end up underwater or in foreclosure when home prices fall
The $26,250 increase in Fannie and Freddie’s baseline single-family conforming loan limit is the smallest since 2020, but pushes the ceiling in high-cost markets to $1.25M
The 2.4% increase ahead of an official announcement in November surpasses more cautious 1.5% increases adopted last month by UWM, Pennymac, CrossCountry and Rate
UWM and Pennymac are pricing jumbo loans of up to $819K as if they were conforming, ahead of an official announcement by Fannie and Freddie's federal regulator in November
Nation's largest lender reboots 1% down loans that cover up to $7K of the homebuyer's down payment when financing a purchase with a loan backed by Fannie Mae or Freddie Mac
Lifting of the asset cap could give the bank greater leeway to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit in most markets
Cutting the mortgage giants' $806.5K conforming loan limit could relieve pressure on home prices, but leave more homebuyers seeking jumbo mortgages at higher rates from private lenders
While plans to privatize the mortgage giants are on the back burner, Trump administration may impose limits on how much support the mortgage giants can provide to riskier borrowers
Prices hit record highs in 2024, making affordability just as big a problem as it was on the eve of the 2007 housing bust. But this time, prices in most markets are expected to decelerate, not fall
Los Angeles Police Federal Credit Union (LAPFCU) expands its service area and membership base to include municipal, county, state and federal law enforcement agencies in 10 counties
Mortgage giants will be allowed to back loans of up to $1.2M in high-cost markets, providing ammo to critics who say goverment backing for mortgages adds to affordability woes
Demand for purchase mortgages fell by a seasonally adjusted 7% last week, and requests to refinance were down 26% as mortgage rates continued to climb, MBA survey finds
CrossCountry Mortgage joins Rocket, Pennymac, UWM and Rate in raising conforming loan limit above current $766,550 cap for Fannie Mae and Freddie Mac ahead of an official announcement
With prices rising, it's becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA's official announcement
Lenders have gotten into the habit of helping some homebuyers avoid jumbo loans by raising their limits before an official announcement by Fannie Mae and Freddie Mac's federal regulator