Despite tougher mortgage guidelines and better loan disclosures for consumers, mortgage fraud is on the rise.
Entries Tagged as 'Mortgage Lending'
Avoiding Common Mortgage Scams
October 21st, 2010 · Comments Off on Avoiding Common Mortgage Scams
Tags: Household Finances · Mortgage Lending
Bank Mortgage Lending Policies Appear To be Easing
September 3rd, 2010 · Comments Off on Bank Mortgage Lending Policies Appear To be Easing
According to the Federal Reserve’s quarterly survey of senior bank loan officers, roughly 1 in 10 lenders added mortgage qualification hurdles between April and June. It’s a huge departure from just 2 years ago when the mortgage industry was facing its first wave of challenges.
Tags: Mortgage Guidelines · Mortgage Lending
Mortgage Rates May Be Low, But They’re Tough To Pin Down — Especially This Week
September 2nd, 2010 · Comments Off on Mortgage Rates May Be Low, But They’re Tough To Pin Down — Especially This Week
Mortgage rates would have been volatile this week. The presence of Labor Day just piles on. If you have a chance to lock something favorable and within your budget, consider doing it.
Tags: Mortgage Lending · Mortgage Rates · Real Estate
Mortgage Rates Make New Lows For The 9th Week In A Row
August 23rd, 2010 · Comments Off on Mortgage Rates Make New Lows For The 9th Week In A Row
Mortgage rates are (again) at their lowest levels in history.
Tags: Mortgage Lending · Mortgage Rates
Higher (And Lower) FHA Mortgage Insurance Premiums Start October 4, 2010
August 18th, 2010 · Comments Off on Higher (And Lower) FHA Mortgage Insurance Premiums Start October 4, 2010
Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structures.
Tags: FHA Mortgages · Mortgage Lending · Real Estate
What Does It Mean To Escrow Taxes And Insurance?
August 16th, 2010 · Comments Off on What Does It Mean To Escrow Taxes And Insurance?
The fiscal responsibility of a homeowner extends beyond the mortgage’s basic principal and interest repayments. Homeowners are also responsible for the real estate taxes on the home and its insurance premiums, too.
Tags: Budgeting · Mortgage Lending · Real Estate
The Fed’s June Minutes Keep Mortgage Rates In Rally-Mode
July 21st, 2010 · Comments Off on The Fed’s June Minutes Keep Mortgage Rates In Rally-Mode
At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.
Tags: FOMC · Mortgage Lending
Conforming Loan Costs Are Rising, Says Freddie Mac
June 22nd, 2010 · Comments Off on Conforming Loan Costs Are Rising, Says Freddie Mac
Mortgage rates may be dropping, but mortgage costs are not. According to Freddie Mac, the average required discount points on a conforming mortgage rate are higher by 0.1 percent since early-May.
Tags: Mortgage Lending · Mortgage Rates
The Home Buyer Tax Credit Extension Has Not Been Passed Into Law (Yet)
June 20th, 2010 · Comments Off on The Home Buyer Tax Credit Extension Has Not Been Passed Into Law (Yet)
Contrary to what you may have read (or heard), the federal home buyer tax credit has not been extended past June 30, 2010. At least not yet.
Tags: Mortgage Lending · New Jersey · Pennsylvania · Real Estate · Tax Tips
Loan Application Alert : Conforming, Interest Only Mortgages Guidelines Change Next Week
June 20th, 2010 · Comments Off on Loan Application Alert : Conforming, Interest Only Mortgages Guidelines Change Next Week
If you plan to finance your home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Starting next week, Fannie Mae is clamping down on the popular loan product.
Tags: Mortgage Guidelines · Mortgage Lending · New Jersey · Pennsylvania · Real Estate