Maybe lowering the FHA annual mortgage insurance premium or reducing the required down payment are not enough to get more potential home buyers access to credit (Access to Credit). The intention of these changes is to
CFPB, in connection with FHFA, has found that all too many home buyers do not shop for their mortgage financing. It seems that, although consumers will go online and shop for homes, cars, TVs and whatever, they just don’t take the time to investigate mortgage rates and/or...
The economy is up; the economy is down. Unemployment numbers are improved but accompanied by a drop in labor force participation. Job growth is good but income growth is stagnant. Read what Fannie Mae, Chief Economist Doug Duncan has to say
They say that necessity is the mother of invention. I guess that’s why we are seeing some new, and not so new, mortgage programs to help spur the housing markets. Programs like the resurrected 97% LTV loan from Fannie and Freddie, and, dare I say,
Falsified applications has taken over the top spot for the type of mortgage fraud committed as reported in a recent New York Times article, according to a recent LexisNexis report. (Loan Fraud) Alarmingly, 80% of all mortgage fraud involves