Mortgage lenders are facing challenges in 2017 from rising interest rates, rising home prices and fewer refinances. These add up to result in less business. The big question is should lenders relax credit standards to help qualify more homebuyers for financing? Here we go again. Lenders were blamed for relaxed credit standards that led to the crash of ‘08. As…
Fraud, misrepresentations, and loan defects are rising as refinances decline and purchase activity increases. According to The First American Financial Corporation, their Loan Application Defect Index rose 5.8% in January 2017, as compared to last year. This trend started in December of 2016. As the industry pushes to qualify more potential homebuyers in a rising rate environment, it experiences more problems…
Is it a lending crisis, an affordability crisis, or a housing crisis? Maybe it is all three. Homeownership rates have declined and everyone is clamoring for lenders to do more to help provide financing to more perspective home buyers. A basic rule of economics is supply vs. demand. What if the problem is that there just aren’t enough homes for…
You can’t pick up a newspaper, listen to a talk show, news broadcast, read a tweet or online post today without some comment on the political divide. Everything has become a zero-sum game; there’s no room for compromise. It’s right or wrong, black or white, fair or unfair. In the eyes of the public and our legislators, it’s “win or…
It looks as though home refinancing may be down, but not yet out. Although overall home refinancing has declined, lenders are beginning to see a slight resurgence in requests for cash out refinances. This is due to the increase in home equity, the continued low-interest rates and an increase in consumer debt. Current homeowners see an opportunity to trade high-interest…
Seems not everyone is upset by the election of our new President. According to Fannie Mae’s January Home Purchase Sentiment Index, consumers have a more positive outlook for housing. That’s a good thing. Patti LaBelle sang it like this… I’m feeling good from my hat to my shoe Know where I’m going and I know what to do I’ve tidied…
