Property valuation has always been one of the stranger parts of the mortgage transaction for consumers. A buyer can negotiate a purchase price with a seller, provide months of financial documentation to a lender and get all the way through underwriting only to have...
There are some lessons the mortgage industry learned the hard way. We learned what happens when loans are made without adequately documenting income. We learned what happens when borrowers are qualified into products they do not understand or cannot reasonably afford....
Seven federal agencies have withdrawn a 2022 interagency statement that encouraged creditors to consider Special Purpose Credit Programs, adding another significant change to a fair-lending framework that the Consumer Financial Protection Bureau had already revised...
The Federal Home Loan Bank System was created in 1932. I don’t bring up that date because there is anything inherently wrong with a 94-year-old institution. Some of the most important pieces of our housing-finance system have been around for generations. I bring...
Anaheim, California-based Carrington Mortgage Services has expanded its Flexible Advantage non-QM program, opening additional financing options for borrowers whose credit histories, income documentation or investment profiles can leave them outside traditional...
Hits and Misses for the Real Estate Week of Aug. 31-Sept. 4
