No, it’s not a new undersea adventure to raise the Titanic or find some long lost sunken treasures, it’s the movement by the Agencies and FHA to provide low down payment financing to first-time and low-to-moderate income home buyers. About a year ago, both Fannie and Freddie announced the reinstatement of their 3% down payment loan programs. This was done…
It’s that time of year. Pitchers and catchers are reporting for spring training and a new baseball season is about ready to get underway. Each team is preparing for what is to come and looking forward to competing for an appearance in the playoffs with the ultimate goal of winning the World Series. Spring training is here and with it…
Over the past few years, the source of home financing has steadily shifted from the big Banks over to non- bank lenders. Lenders like Independent Mortgage Lenders, Credit Unions and smaller Community Banks. In 2007, the Commercial Banks held a 74% share of mortgage loans, 3 of every 4 homes were financed by a large Bank. Lately, things have changed.…
Recently, I noted that we haven’t heard much talk about housing policy from either the sitting President or those seeking to take his seat. But lo and behold, we get some news out of Congress that the House, by a vote of 427 to zero passed legislation that would reform FHA’s condo approval rules (FHA Condos). Wow 427-0, that’s pretty…
This year’s Super Bowl was rated as the third most watched TV presentation. It would seem that a well-placed ad would get any company some really good exposure, as long as the content resonated with the public. Based on initial returns, it appears that Quicken Loan’s Rocket Mortgage Ad did just that (Rockets). The ad for a new quick loan…
According to the November 2015 Freddie Mac Multi-Indicator Market Index, the MiMi (don’t you just love these acronyms?), housing markets across this nation are doing quite well (MiMi). This report indicates that most markets are improving thanks to better employment and current mortgage payment trends. In November, the MiMi index increased to 82.5. This is about 39% higher than the…
