In what has to be one of the most bizarre developments in real estate this year, the ivory-tower folks at the Fed, of all people, dreamed up a creative new loan that would not require a down payment. Then they used the dreaded COFI term from neg-am mortgage days! No...
'Warranty relief' means that taxpayers will be on the hook. LINK Freddie Mac announced Friday it is making buying a home a better experience for lender and homebuyers – by cutting the appraiser out of the process. The company is now offering a new product which will...
It's hard to lower the down payment on a jumbo loan so any effect on the coastal regions is probably minimal, but this suggests that the stronger buyers are giving way or running out: Seen at CR and MND: LINK An excerpt: This month, in light of much commentary and...
The Wall Street Journal published this article about the mortgage-interest deduction having little - or no - impact on the decisions made by homebuyers: LINK Of course, the N.A.R., who is beholden to our lobbyists, refuses to consider any changes. The N.A.R. spent...
It looks like we are cycling through all the buyers with big down payments, and giving the less-fortunate folks a chance...
Rates are under 4.0%, no points! From MND: Mortgage rates fell convincingly today, though not all lenders adjusted rates sheets in proportion to the gains seen in bond markets (which underlie rate movement). Those gains came early, with this morning's economic data...
From the wsj.com An excerpt: Lenders say there is an untapped market among borrowers with good credit scores like self-employed workers who don’t have proper income documentation, or for responsibly made loans to borrowers with credit problems that have had...
When the day comes that you hear the big banks pushing for reduced-doc loans, you'll know that the top of the market is near: http://www.reuters.com/article/us-bank-of-america-mortgages-idUSKCN18E37J The head of Bank of America Corp, the United State's fourth-biggest...
Did you file an extension for your 2016 tax returns, and are trying to buy a house? Have you released your financing contingency yet? Here's what you have to do to qualify for a mortgage: Yes, "Tax Day" has passed, and lenders and investors must consider filed taxes...
The Gaylord-Hansen Team of Caliber Home Loans had a seminar yesterday to discuss the details of their mortgage of the future - and they have it now! The goal is to make the obtaining of a mortgage completely digital, and gather the documentation needed to fund a loan...
