2018 and beyond will be a home purchase market. What might happen to home sales as rates go higher? Refinances are drying up. But, will home sales and related financing opportunities go the same route when rates jump? “Not necessarily,” says a Redfin, a national Real Estate firm. According to their recent survey, if rates rise above 5%, only about…
There is a major dialogue going on in Congress and the country surrounding what to do with Deferred Action for Childhood Arrivals (DACA), but what about other immigrants who arrive legally? Do they have full access to all we have to offer? They face major challenges in tasks we take for granted, like getting a cell phone, a credit card…
What’s an ‘Outlier’? An ‘Outlier’ is considered a person or thing differing from all other members of a particular group. GNMA considers nine major mortgage lenders as ‘outliers’ because Ginnie believes that the activity of these lenders differs from others. Ginnie Mae believes these lenders may be churning VA refinances. Churning is a process whereby the lenders continue to refinance…
Look out, things are starting to slip. With the home mortgage market turning from refi’s to purchases, rates rising, and a housing shortage along comes an increase in loan defects, fraud, and misrepresentations. The good news, according to the most recent First American Financial Corp’s Loan Application Defect Index, is that the defect rate for both refinances and purchases remained…
The FICO credit score was introduced many years ago and touted as the end-all for determining a prospective borrower’s creditworthiness. The better the score, the more likely the borrower would repay the debt. The lower the score, look out, higher potential for default. Simple, right? No more! Today, we’re told that maybe this revolutionary predictor may be outdated and in…
Over a month after we all sat down and tried to improve our lives through our New Year’s resolutions, here is one that came up this year that is a little disheartening. Hopefully, this is a resolution that will not be kept. According to a Debt.com report, buying a home is not at the top of the ‘to do’ list…
