Home Builders may be bucking the old adage to not change horses in the middle of a stream. With the ongoing uncertainty surrounding Millennials’ entry in home ownership, builders are once again courting good old Baby Boomers. The number of 55 and older homebuyers continues to increase. These are home buyers that have homeownership experience, stable income, assets and equity…
Over the past few years, lenders should have realized the importance of the quality of the loans they originate and why these need to be done in compliance with all the rules. We’ve seen that lenders originating large volumes of poor quality loans are susceptible to huge fines, loan indemnifications, and repurchases. In some cases, such lenders have originated themselves…
In case you haven’t heard, President Trump officially suspended the reduction in the annual FHA premium previously announced by FHA. With the stroke of a pen, Mr. Trump made one of his first official presidential acts to officially suspend the rate cut indefinitely. This action has caused quite a stir in the housing and mortgage communities. Some say it is…
In case you weren’t aware (and you should be), the CFPB is at it again. This time they propose to institute a system to allow consumers to rate the service they received from lenders when handling their complaints. (Complaints) Once the complaint is closed, the consumer could rate the lender with a score of 1 to 5 (1 being the…
With the election and the economy supposedly improving, the Fed raised rates in December. That was expected. With that raise also came an increase in mortgage rates. That was also expected. However, now that things have settled down a little, mortgage rates have once again come down a little. According to Freddie Mac, the 30-year fixed rate dropped to 4.12%,…
With the CFPB cracking down on Marketing Services Agreements (MSAs) many lenders exited such agreements with Realtors and Builders. These are Agreements that were intended to increase business to the lender and provide some additional income to the Realtor and Builder. For some, it was nice while it lasted. For others, they were glad to see the MSAs go away.…
