Habitat for Humanity Kansas City and NovaStar Financial Inc., Kansas City, Mo., have announced a pilot program under which NovaStar's mortgage servicing group is contributing personnel and systems to service mortgages owned by Habitat.The contribution, which is accompanied by job counseling and credit education for homeowners, frees the nonprofit group's resources for other activities, Habitat and NovaStar said. "NovaStar approached us last year with an idea for donating business expertise to help Habitat focus on our mission of broadening homeownership and revitalizing neighborhoods in our city," said Yahna Gibson, executive director of Habitat for Humanity Kansas City. "Nearly 150 families own Habitat for Humanity homes in Kansas City with active mortgages." The organizations can be found online at http://www.habitatkc.org and http://www.novastarmortgage.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18