Mortgage Industry News
Residency Requirements Changed on FHA-Insured Mortgages to Shut Out Illegal Immigrants
“There will be no more illegal aliens getting HUD-backed home loans,” said Secretary Turner. Continue Reading Residency Requirements Changed on FHA-Insured Mortgages to Shut Out Illegal Immigrants
Homeownership Expenses Consume One-Third of National Average Wage
Nationwide, the typical $2,021 cost of mortgage payments, homeowner insurance, mortgage insurance and property taxes is down 0.7% quarterly. Continue Reading Homeownership Expenses Consume One-Third of National Average Wage
Rocket Mortgage Settles HUD Charges of Discrimination Against Native Americans
The settlement includes $65,000 compensation to the complainants. Continue Reading Rocket Mortgage Settles HUD Charges of Discrimination Against Native Americans
Mortgage Originations for Vacation Homes Down 40% in 2023
86% of second-home mortgages were issued last year to high-income buyers. Continue Reading Mortgage Originations for Vacation Homes Down 40% in 2023
FHLBank Cincinnati in New Endeavor Helping First-time Homebuyers
The program offers $25,000 grants to be used for down payment, closing costs or principal reduction assistance. Continue Reading FHLBank Cincinnati in New Endeavor Helping First-time Homebuyers
Mortgage Application: What Does It Contain?
Source: Forbes --- The mortgage application process can be lengthy. When filling out your application, you’ll need to provide a handful of personal and financial information—plus the documents to support it. Understanding what goes into a mortgage application can help...
YEAR-END OUTLOOK: CLIMBING MORTGAGE RATES STRAIN BUYING POWER IN 2022
Source: Ris Media--- Homeowners will likely look at the past year of mortgage rate performance with fondness or even regret as the days of historic lows fade. Based on recent Freddie Mac reports, 30-year fixed-rate mortgages (FRM) at 3.14%, are breaking from months of...
City housing report shows rising mortgage, rental costs
Source: IDS News --- The Bloomington City Council discussed some of the current challenges of increasing home-owner and renter costs facing Bloomington residents regarding renting and home ownership Wednesday. In a comprehensive housing report from the City of...
Burning Mortgage Question: Should You Retire, Then Pay Off Your Mortgage?
Source: Green Entrepreneur --- What to do with that mortgage? Many soon-to-be retirees wonder whether they should pay it off, but what about current retirees? Here's how you can make that determination. A common question: Should you pay off your mortgage before you...
2022 home prices will keep rising at or near double digits, predicts the analyst who called the current housing boom
Source: Fortune --- For this writer, Ed Pinto makes the most accurate predictions of all the real estate world’s data-crunchers on where housing prices are heading. Pinto, director of the American Enterprise Institute’s Housing Center and former chief credit officer...
Mortgage Bond Sales Surged in October
Source: Wall Street Journal --- Mortgage companies in the U.S. issued $21 billion of mortgage-backed bonds in October, the second heaviest month of borrowing since the 2008-09 financial crisis, according to research by Bank of America Corp. One reason: It is cheaper...
Homeowners With Risky Alternatives to Traditional Mortgages Eligible for COVID-19 Relief Money
Source: Pew --- The U.S. Treasury Department released guidance in August that made financial assistance available to homeowners experiencing financial hardship linked to the COVID-19 pandemic. The aid could be offered to those with traditional mortgages and those...
Mortgage rate forecast for November 2021: Rates head higher for the holidays
Source: Bankrate --- As Thanksgiving approaches, homeowners and potential buyers have much to be grateful for, including the relatively low mortgage rates that have persisted over the last several months. But all good things eventually come to an end, and that could...
Six steps to building a great real estate sales system
Source: Forbes --- I've always said that anyone can achieve business success, but only if they build the right systems. What are systems? At their core, systems are anything designed to make your life or work easier. When you build great systems, you're able to spend...
Prices may be higher, but mortgage rates are at a new low!
Source: SRE.com --- Have you seen the new rates that can't be beat? Work with an SRE Professional Expert today! Here's how to get matched with an agent in your area.
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