Mortgage Approval Could Be Easier Than You Think
So what does it take to get approved for a mortgage to buy a house this summer, whether you’re a first-timer, planning to move up or downsize? Maybe not all that you think.
RBS Settles Case For $5.5B
The Federal Housing Finance Agency (FHFA) announced yesterday it reached a settlement with Royal Bank of Scotland Group plc., related companies and specifically named individuals (collectively RBS) for $5.5 billion.
Mortgage Applications Up As Rates Remain Low
Total mortgage applications increased 0.6 percent during the week ending June 16 from the previous week, according to the Mortgage Bankers Association.
Mortgage Rates Slide; Applications, Loan Amounts Perk Up
Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 9, 2017.
Condo Financing Program Could Be Making A Comeback
Could condominiums financed with low down payment government-backed mortgages stage a surprise comeback under the Trump administration, which generally seeks to reduce federal involvement in housing?
Supreme Court Rules Municipalities Can Sue Lenders
The U.S. Supreme Court ruled 5-3 Monday that under the Fair Housing Act (FHA) municipalities can sue lenders whose predatory lending practices harm them.
Like Father, Like Son
Carl Lantz started his professional life as a professional chef, a career he says is one of the few that forces people to work longer, later hours than real estate does.
FHA Loan Limits To Rise In 2017
A week after the Federal Housing Finance Authority announced it was raise the maximum conforming loan limit on loans acquired by Freddie Mac and Fannie Mae, the Federal Housing Administration announced yesterday it also increased its loan limits slightly in most areas of the country in 2017, due to the rise in home values.
FHA Pulls Housing Head Fake On Condo Communities
Call it a housing policy head fake – one with potentially painful consequences for moderate-income buyers, sellers and seniors in hundreds of condominium projects around the country.
Mortgage Misperceptions
When lenders say their doors are open to homebuyers who don’t have the best credit profiles, should you believe them? If you’re a first-time buyer, qualified on income and other key criteria, but you happen to have a FICO credit score in the mid- to upper 600s, do you...
Bipartisan Vote Bodes Well For Condo Buyers
Everybody knows that congressional Democrats and Republicans can barely agree on anything. Yet in a rare and fleeting moment of unanimity in the House of Representatives, they recently approved legislation that could expand purchase prospects for thousands of people...Wells Fargo To Pay $1.2 Billion In FHA-Related Settlement
Wells Fargo & Co. said on Wednesday it would pay $1.2 billion to resolve some civil claims related to its Federal Housing Administration (FHA) lending program, primarily between 2001 and 2010. The U.S. Department of Justice sued Wells Fargo in October 2012, saying...FHA Reforms Don’t Rescue Condo Buyers
If you’re a first-time buyer with a moderate income and not much cash for a down payment on a condominium, the availability of Federal Housing Administration (FHA) financing is a big deal. Not only do you need just a 3.5 percent down payment, but the FHA is also far...
