By all accounts, it cost a lender more money to originate and close a mortgage loan today than it did 10 years ago. But then again, what doesn’t cost us more today than it did 10 years ago? The question is how much is the increase, why, and is it worth it? That’s something each lender needs to decide. Recently,…
It’s official. Mark it down. In the third quarter of 2016, non-bank mortgage lenders originated more than half of the mortgages originated in the US. According to a WSJ report, they represented about 51.4% of the mortgage dollars lent as of the end of September. You’ve come a long way, baby. With the big bank’s exodus from FHA lending and…
As the Obama Administration is winding down, the Treasury Department issued a paper that may be considered the administration’s final word on Housing policy. The paper indicates that reform efforts should focus on providing access to credit and affordable rental housing (Housing). A real revelation. The goal is to provide fair and accessible housing to all Americans. Just about everyone…
With the crash of 2008, the federal government took over the largest purchasers of conventional mortgage loans in this country; Fannie Mae and Freddie Mac. They said this was done to protect the taxpayers against major losses that might be sustained by these agencies. (Takeover) In September of 2008, the agencies were placed into conservatorship and provided with about $190…
Sofi announced a program with Fannie Mae to refinance homeowners with sufficient equity to cover some or all of their student loan debt. It’s estimated that such a program may benefit as many as 8.5 million households throughout the US. Now, that’s a lotta people. With the current low mortgage rates, many homeowners now have the opportunity to reduce their…
Homeowners who lost their homes in the crash of 2008 are poised to make a comeback into the housing market. More evidence of a potential for improvement in home purchases in 2017 and 2018. This means more home purchases, more financing opportunities for mortgage lenders. That’s good. Many homeowners were forced to give up their homes either through bankruptcy, foreclosure,…
