Recently, I responded to some questions posed by one of our trade publication, Mortgage.Orb, about CFPB’s proposed changes to the Know Before You Owe, rules (TRID). One of these questions asked about CFPB’s decision to not address the current ‘cure’ options under the new rule. This is of major concern to many lenders and understandably so. CFPB believes in trying…
With the drop in rates resulting from Brexit, we saw a resurgence of refinancing activity. This seemed to bode well for mortgage lenders, but not so for everyone. A recent report from a la mode, a leading provider of appraisal software, shows that appraisal volume is actually down. Why so, with such low rates and so much refi activity? Could…
I read an article this morning about a new Bill signed into law that would allow Section 8 voucher recipients to utilize this assistance toward mortgage payments instead of rent for the purchase of manufactured housing. (Section 8) The intent is to provide more low to moderate income families with the opportunity to achieve their dream homeownership; increase a declining…
Jonathan Smoke, Chief Economist for Realtor.com, says although we had a strong housing market so far in 2106, the near future may not be so good (Housing). The potential for a slight rate hike, or just the hint of one, coupled with a shrinking housing supply, may slow the pace of new home sales in the second half of 2016…
With mortgage rates remaining at historic lows, lenders have continued to reap the benefits of an extended refinance period. But, do these low rates also pose a serious long range problem for lenders and the housing market? Factors, like low rates, that on the surface appear to be of a benefit to the consumer, may also be cause for concern.…
Fannie Mae announced some recent changes to their HomeReady loan program, with more changes coming later. The intent is to make it easier for more people to qualify to buy or refinance a home. Are we heading down the same path that got us in trouble in the past? The HomeReady program was developed by Fannie to increase the potential…
