We’re off and running. The 2016 presidential race is officially underway with the completion of the Iowa Caucus. What is a “Caucus” anyway? It’s a meeting of supporters or members of a particular political party or movement. So, what we had was a meeting of supporters of the movement to elect a new president who put forth their opinions on…
The debate rages on among the mortgage lending professionals and their respective trade groups. Should FHA again reduce their required mortgage insurance premiums? If so, should they reduce the upfront premium, the annual renewals, or maybe both? (FHA Cut). Proponents of the additional rate cuts say that the prior actions to reduce the annual premiums helped make FHA loans much…
Maybe there is a little “happy” in this New Year. The latest housing market indicators all seem to be pointing in the right direction. Although all the planets are not quite fully aligned, the outlook for housing is more positive than negative (Housing Market). The National Association of Realtors reported that sales of existing homes rose almost 15% from November…
Was it the result of the recent rate hike, the reintroduction of the low LTV home loans by the GSEs, or maybe the FHA rate cut? Whatever it was, it appears many first time homebuyers are dipping their proverbial feet into homeownership waters. According to recent reports, FHA-insured lending dramatically increased over the past year. In many cases, these FHA…
LOQuicken Loans says, “Take off with its new Rocket Mortgage”, an easy online mortgage loan application and approval. Will this replace the traditional loan originator? Let’s examine that possibility. Most say the consumer of today and tomorrow wants ease of communication and process through online applications. I believe most of us agree. Does that mean they will make their mortgage…
Home Equity loans are becoming popular once again. Interest rates remain relatively low, home values have been appreciating in many parts of the country, college tuition costs continue to rise and credit card debt remains high for many homeowners. This is a “perfect storm” scenario for the resurgence in the origination of Home Equity loans as a source of needed…
