Mortgage Industry News
Mortage Application Activity and Credit Availability in Decline
The Mortgage Credit Availability Index (MCAI) dropped by 0.5% to 98.5 in September. Continue Reading Mortage Application Activity and Credit Availability in Decline
Mortgage Rates Up Sharply
The 30-year fixed-rate mortgage averaged 6.32% as of Oct. 10, up from last week when it averaged 6.12%. Continue Reading Mortgage Rates Up Sharply
New Study Ranks the Best Reverse Mortgage Companies
Longbridge Financial was praised as “Best for Low Interest Rates.” Continue Reading New Study Ranks the Best Reverse Mortgage Companies
Mortgage Rates End 2023 in a Downward Spiral
“The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates End 2023 in a Downward Spiral
Former NASA Employee and Husband Charged in Mortgage Fraud Scheme
If convicted, they face up to five years in federal prison and a possible $250,000 maximum fine in addition to the possible forfeiture of their luxury home. Continue Reading Former NASA Employee and Husband Charged in Mortgage Fraud Scheme
How To Start A Real Estate Empire With Only $12,500
Source: Forbes --- If you’re not currently a homeowner or haven’t purchased your first multi-residential property, you may still have hopes of building a multi-million or billion-dollar real estate portfolio. Yet that goal appears to be far-fetched amid a global...
How To Purchase Your First House Without Overspending
Source: Tamp AFP --- Purchasing your first house is a thrilling experience, but it can also be expensive. That isn’t to say that you need to let go of your life savings to secure a home. It is essential to acquire the right information so you can make the right...
Knowing the best home survey options for your clients
Source:Financial Reporter --- As the modern mortgage market continues to evolve, so too does the complexity attached to product offerings, criteria, lending policy, affordability and accessibility. I could go on but I’m sure you all have your own lists. Whilst...
Hall Financial: Why refinancing can increase your home equity
Source: F --- As a homeowner, you've worked hard paying off the mortgage on your house and updating it when you can. Now it's time for the house to work for you! Low rates mean there's a bit more equity in your home, which is an opportunity to use that equity to put...
New Mortgage Rule Aims to Stop Avoidable Foreclosures
Source: Investopedia --- The Consumer Financial Protection Bureau (CFPB) has announced a new rule to help prevent foreclosures in situations where they can be avoided. The new rule, which went into effect on Aug. 31, requires that most mortgage servicers help...
FHFA Reverses Previous Housing Market Reform Progress
Source: American Action Forum --- Executive Summary The Federal Housing Finance Agency (FHFA) has suspended restrictions from earlier this year that prevented the government-sponsored enterprises (GSEs) from purchasing “high-risk” mortgages; it also announced a...
Should you call out real estate agent who put their best interest above yours?
Source: Washington Post --- Q: We recently sold our deceased mother’s home in Columbus, Ohio. The house needed quite a bit of work, was structurally sound, and was in a very desirable neighborhood. My siblings and I selected an agent after a couple of interviews, and...
Should you pay off your mortgage or invest the money?
Source: Fox Business --- If you feel weighed down by your mortgage, you might be anxious to pay it off as soon as possible. So when you find yourself with a little extra money in your budget, you may consider putting it toward your mortgage. Paying extra on your...
CFPB releases new mortgage servicing rule: What it means for homeowners
Source: Fox Business --- As foreclosure moratoriums come to an end, the Consumer Financial Protection Bureau (CFPB) released a new mortgage servicing rule that took effect Aug. 31 to help prevent foreclosures for borrowers facing delinquency. The rule will prevent...
Fannie Mae to include rent payments in mortgage applicants’ credit history review
Source: Washington Post --- A good credit score is an essential part of making the transition from renter to homeowner, but establishing a solid credit report can feel out of reach for some consumers. Many prefer not to use credit cards or loans and therefore have a...
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