23
JAN
2015
Mike Vitali: Home Prices Rise: Goods News; Bad News

Home Prices Rise: Goods News; Bad News

It’s the old “Good news; Bad news” scenario. The good news is that home prices are on the rise; the bad news is that home prices are on the rise (Home Prices). With home values increasing, many who own a home that was previously underwater see
23
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

What comes first, the Housing Recovery or the Economic Recovery?

Recently, the Administration has been talking loud about programs which can help more people realize their dream of home ownership. In a recent speech in Arizona, the President announced the cut in the annual FHA premium for 30 year loans of 50 basis points, explaining
16
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

One Man’s Trash

As the old saying goes, “One man’s trash is another man’s treasure”. Much talk lately has been about all those potential home buyers being shut out of the housing market as the result of
16
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

More Unintended Consequences

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
15
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

New CFPB Shopping Tool

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...
12
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

The Economy: Mixed Signals; Mixed Results

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
09
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

Rates Fall and So Do FHA Premiums

Why is it? With rates falling to record lows (Lower Rates), the housing market recovering and the economy supposedly improving, why is it necessary to
08
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

Low Rates: Double Edged Sword

The good news is that mortgage rates are down to their all-time low levels; the bad news is that mortgage rates are at their all-time low levels (Low Rates). With rates down consumers have little
07
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

Zero Down to Build Equity

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,
05
JAN
2015
Michael Vitali, Chief Compliance Officer at LoanLogics

Are You Ready for 2015?

‘Twas just after new year and each lender take care, To ensure all your customers are treated quite fair. ATR and QM are the laws of the land, And CFPB rules with an iron hand.