mortgage lending: A Few Reasons Why Now May Be The Least Expensive And Easiest Time To "Go FHA" - 04/15/09 01:13 AM
Shopping for low mortgage rates is a game of luck.
Some days, mortgage rates are favorable. Other days, they're not. And while you can sometimes make an educated guess about where rates might be headed, you're not always going to guess right.
Even the experts get it wrong more often than … (1 comments)
|
mortgage lending: How To Know If You're Eligible For A Making Home Affordable Refinance - 04/07/09 07:55 PM
April 4, 2009, marked the official start of the Making Home Affordable refinance program.
Expected to help 5 million homeowners, the Making Home Affordable program "looks the other way" with respect to falling home values, approving mortgage applications based on borrower payment history and benefit to the homeowner.
Not every homeowner … (0 comments)
|
mortgage lending: County-By-County: The 2009 "High-Cost" Conforming Loan Limits - 02/24/09 03:07 PM
As part of the stimulus package passed last week, Congress authorized a temporary increase to conforming loan limits in certain high-cost parts of the country.
"High cost" is defined by a regions' median sales price.
With the temporary increase, a greater share of Americans can now qualify for Fannie Mae- and Freddie Mac-backed loans, … (0 comments)
|
mortgage lending: How Mortgage Calculators Can Be Misleading - 10/16/07 09:38 PM
Mortgage calculators are ubiquitous on real estate-related Web sites but that doesn't mean that they're helpful.
See, Internet-based mortgage calculators take three figres into consideration when determining "how much home can you afford".
Income Debt Downpayment/Equity Next, the calculator figures in your downpayment, multiplies your income by a factor of … (3 comments)
|
mortgage lending: FHA Bans Seller-Financed Downpayment Assistance Programs - 10/03/07 03:45 PM
Effective November 7, 2007, the Federal Housing Administration is expected to ban home buyers' use of most seller-financed Downpayment Assistance programs. The Nehemiah program has been granted an exception through March 31, 2008.
DPAs are (were?) very popular in FHA mortgage circles as a way to help buyers finance … (6 comments)
|
mortgage lending: How Credit Cards May Be Replacing Home Equity As A Funding Source - 08/29/07 12:40 PM
As mortgage guidelines loosened between 2002 and 2006, homeowners often used their home equity to retire credit card and other consumer debt. They did this by increasing the size of the mortgage and taking "cash out" from their home.
As you'd expect, this type of mortgage transaction is called a "cash … (4 comments)
|
mortgage lending: The Week In Review (August 27, 2007) : What To Watch For - 08/27/07 11:00 PM
This week is data-heavy so markets will finally get to focus on fundamentals instead of fear.
For the past two weeks, uncertainty about the economy has led to psychologically-driven mortgage interest rate movements.
Rising defaults devalue mortgage holdings and many investors are now expecting the defaults levels to rise … (0 comments)
|
mortgage lending: Why Private Mortgage Insurance (PMI) Is Suddenly Popular - 08/22/07 09:02 AM
Suddenly, Private Mortgage Insurance is back in vogue. If only by default.
The story background is well-documented in this Bankrate.com article from 2002. The article is five years old, but it still raises some salient points.
What the article doesn't highlight is that second mortgages such as home equity loans are … (10 comments)
|
mortgage lending: The Week In Review (August 20, 2007) : What To Watch For - 08/20/07 10:27 AM
Again last week, financiers failed to answer the major question dogging Wall Street: What is the "right" risk model to use for mortgage lending? The models of the past are being proven to have been wrong.
So, why do risk models matter?
Because the basic tenet of lending states that … (2 comments)
|
mortgage lending: 7 Things You Must Never Do When Applying For a Home Loan - 08/18/07 09:55 PM
This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process.
Don't buy or lease an auto! Lenders look carefully at your … (14 comments)
|
mortgage lending: Why Downpayments Are Investments, Not Cushions - 08/10/07 02:00 PM
When home prices are stable or falling, home buyers often mischaracterized their downpayment on a home, calling it their "cushion" against falling home prices.
Nothing could be farther from the truth.
Nobody wants to owe money when they sell their home. In fact, when asked, most people will answer that they just want … (3 comments)
|
mortgage lending: Important Guideline Changes - 08/10/07 01:34 PM
****I saw this today and had a really good laugh! I just had to share this with you guys!****
Very Important- Guideline Changes Effective August 8, 2007
All borrowers must have one blue eye and one brown eye to qualify.LTV > 65% SIVA requires minimum credit score of 849.For all LTV > 65%, … (3 comments)
|
mortgage lending: National City Mortgage Reiterates its Strong Position and Continuing Commitment to the Mortgage Industry - 08/10/07 09:59 AM
August 10, 2007 - Reflecting recent conditions in the mortgage markets, several media reports have questioned the strength of National City Mortgage and its future participation in the mortgage industry.
National City Mortgage derives strength from its status as a subsidiary of National City Corporation (NYSE: NCC), one of the … (2 comments)
|
;)
;)
