If you’ve been following my blog lately (and I sure hope you are), then you know I’ve mentioned on more than one occasion the outlook for housing, and how that relates to lending. Here’s another one. Recently, Mark Fleming, the chief economist for First American, commented that he believes a slight interest rate hike by the Fed would not have…
Let’s not let the facts get in the way of a good legal action. That seems to be the mantra of the current Administration when it comes to having HUD take action against lenders for what they believe is “disparate impact” in their lending practices (Abuses). According to the National Fair Housing Alliance, “Disparate Impact” is a legal doctrine under…
Heard that one before and it usually means trouble. This time it could be true. CFPB has launched a site to provide Realtors with information about the new TRID disclosures, their use and benefits to the consumer (Know Before You Owe). The information is intended to educate Realtors on what has changed, what information a lender needs to provide a…
The FHA premium cut and agency low down payment loans were intended to increase homeownership among first-time and low to moderate income home buyers. It hasn’t worked so far. The premium cut tends to have just redirected borrowers from traditional conventional loan programs into an FHA-insured loan. Also, those who recently closed using FHA insured loans refinanced those same loans…
When FHA announced its reduction in the annual mortgage insurance premiums, it was said to be done to assist additional first-time home buyers and low to moderate income consumers buy homes. According to recent research, done by a Washington, DC think-tank, the American Action Forum, that ain’t the case. (Lower Premiums) The results, so far, indicate that what it has done…
Within the past three weeks, lenders have had some good news relative to some system upgrades which will enhance their reliance on tracking reports that are essential for the overall monitoring of loan performance. On August 11, 2015, Fannie Mae announced that their Reps and Warrants Tracking Reports have been substantially upgraded to assist lenders in the identification of loans…
