None of the state or local downpayment assistance programs have enough scale or funding to make a meaningful impact in addressing the challenge of accumulating a 3.5% downpayment on FHA loans, according to analysts at the Urban Institute’s Housing Finance Policy Center.
“The refi boom has not fully materialized, but we have seen a preview of it and were able to capitalize on it instantly while others were caught flat footed,” Mat Ishbia, chairman and CEO of UWM, said Thursday during the lender’s earnings call.
One Company, One Exam aims to streamline mortgage examinations for companies by completing one state exam per company using a series of standardized exam questions.