Knock, a real estate technology company that helps homeowners buy before they sell, is launching a new loan product. On Tuesday, the company announced the debut of Knock Bridge Loan Plus. The new offering provides the same benefits as the company’s original bridge loan product. This includes its guaranteed backup offer program and the same […]
Knock launches enhanced Bridge Loan Plus for homebuyers Read More »
NewDay USA, a national mortgage lender that serves veterans, on Monday announced a new loan offering designed to help veterans and service members buy homes by addressing one of the biggest financial barriers — closing costs. The product, NewDay Home, allows qualifying borrowers with steady employment, strong credit and sufficient income to secure a fully
NewDay USA unveils VA loan option that removes closing costs Read More »
Tens of thousands of veterans are missing out on the benefits of U.S. Department of Veterans Affairs (VA) home loans each year, with billions of dollars in potential mortgage volume left untapped, according to a new analysis from Veterans United Home Loans. The report found that more than 58,000 VA loans went unused in 2024,
Veterans are missing out on billions in VA loan benefits Read More »
The mortgage industry is incredibly different than it was five years ago. Gone are the days when lenders could steer borrowers of all shapes, sizes, and needs into a one-size-fits-all loan product. The emphasis on traditional “workhorse” mortgages that dominated the post-2008 financial crisis era—particularly FHA and VA loans—is now giving way to a focus
The end of the mortgage workhorse: Adapting to a new lending ecosystem Read More »
On Thursday, mortgage rates data from Mortgage News Daily (MND) showed that the 30-year fixed rates for government loans fell below 6%. As of Thursday afternoon, the average Federal Housing Administration (FHA) loan rate was 5.97% and the U.S. Department of Veterans Affairs (VA) rate was 5.99%. Mortgage News Daily also reported 15-year fixed rates
Mortgage rates drop below 6% for FHA, VA loans Read More »
Borrowers rushed to refinance in August as mortgage rates eased, pushing rate-and-term refi lock volume up 70% from July, according to Optimal Blue’s Mortgage Market Advantage report released Wednesday. “Borrowers are responding quickly to rate improvements, driving the strongest month for rate-and-term refinances we’ve seen this year,” Mike Vough, head of corporate strategy at Optimal
Optimal Blue: Rate-and-term refis soar 70% in August Read More »
Mortgage applications decreased 1.4% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Aug. 15. Without taking seasonal adjustments into account, the index decreased 2% compared with the previous week. The refinance index decreased 3% from the previous week but was 23% higher
Mortgage applications shrink as VA loan demand declines Read More »
As the real estate industry prepared for the business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement, one of the biggest questions was how the changes would impact veteran homebuyers wishing to use their loan benefit from the U.S. Department of Veterans Affairs (VA). The NAR settlement requires
VA loan homebuyers navigate NAR settlement with ease Read More »
Longtime U.S. Department of Veterans Affairs (VA) executive and mortgage professional John Bell III announced on LinkedIn that he’s leaving his role as executive director of the VA’s Loan Guaranty Service (LGY). Bell’s post on Monday touted his key accomplishments at the VA, such as increasing its mortgage market share from less than 1% to
VA’s John Bell III stepping into new role at Office of Mission Support Read More »
Despite growing attention around all-cash transactions, most Americans — especially first-time buyers — continue to finance their home purchases, according to new data from the National Association of Realtors (NAR). Among primary residence buyers, 74% financed their home purchase in 2024. That share jumps to 91% for first-time buyers, said Jessica Lautz, NAR’s deputy chief
NAR: Homebuyers still have down payment misconceptions Read More »