A few months ago, we learned the one of the nation’s three credit repositories, Equifax, had been hacked. This provided the cyber thieves with valuable personal information on about 145 million consumers. Now, we learn more. According to report from Senator Elizabeth Warren, (D/MA) the thieves not only accessed the personal data of these consumers in Equifax’s database, they actually…
Spring may not yet be here. But, Spring Training has once again begun in baseball. Hope springs eternal. Each year major league baseball teams across the country travel to designated sites to get ready for the new season, with their eyes on winning the World Series. Professional players who have dedicated their lives to one thing, playing baseball, go back…
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…
