Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.
ARCHIVED BLOG POSTS
The Fed is now buying up to 80% of ALL mortgage backed securities. The Fed started buying billions of MBS in January to support the housing market, and says it will phase out the program over the next 6 months. This could lead to drastic rate increases. Read more. /// Lenders are upping Fico s...
The industry standard for FHA loans remains at 620 - for now. It appeared for a little while the standard would be raised to 640, 660 even. (Regardless, I do have FHA and other solutions for scores as low as 500). /// You can still count on FHA standards increasing however. /// 203(k) loans rema...