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…
Watching the minute by minute updates all day of the Dow movements, on Monday (8/24/15), was like taking my grandsons to the boardwalk last weekend to ride the amusements. At times, it was frightful, exciting, and, a little scary? In the end, it was all very tiring. When all was said and done, I had spent a great deal of…
With all the talk lately about whether the housing market is improving or not comes a new study from BMO Harris Bank reporting that over 50% of Americans say they will buy a home within the next 5 years (More Buyers). I wonder if this study includes illegal aliens, or should I say undocumented visitors. I digress… This comes as…
Just in case you missed it, I thought you might be interested in this article about Facebook’s foray into the mortgage market (Facebook). You might find this amusing, but I find it a little scary. It’s not bad enough that social media has found its way into just about every segment of our lives. Now, Facebook wants to use the…
Under Dodd-Frank, the CFPB is required to conduct a study of the mortgage arbitration process and its effects on consumers. Interestingly, a study of the CFPB report on arbitration done by the Mercatus Center at Georgia University found the CFPB’s own findings do not support the need for them to meddle in the current arbitration process (Arbitration). Once more it…
