Mortgage News

The latest industry news, digested.

White House Asks Lenders to Offer Lower Mortgage Rates to the Military

White House Asks Lenders to Offer Lower Mortgage Rates to the Military
August 27, 2014 2 Comments »

There’s been a lot of news coverage lately concerning veterans not receiving proper medical care. Sadly, that’s just one area where our military isn’t being treated appropriately. Whether active duty military realize it or not, they’re also entitled to special ... Read More »

A Russian Bank Is Offering Free Cats to New Mortgage Customers

A Russian Bank Is Offering Free Cats to New Mortgage Customers
August 27, 2014 No Comments »

It’s not uncommon for banks and mortgage lenders to offer special perks to customers who take out mortgages. After all, a mortgage is somewhat of a commodity, despite there being many different types of loans and lenders out there, and ... Read More »

Some Homeowners Will Receive Permanent 2% Interest Rates Thanks to Bank of America Mortgage Settlement

Some Homeowners Will Receive Permanent 2% Interest Rates Thanks to Bank of America Mortgage Settlement
August 21, 2014 2 Comments »

Today, Bank of America reached a historic agreement with the U.S. Department of Justice to pay the largest settlement in U.S. history related to toxic mortgage loans it knowingly sold to investors. In short, the company admitted that it misrepresented ... Read More »

Median Down Payments Have Surged For Entry Level Homes

Median Down Payments Have Surged For Entry Level Homes
August 20, 2014 No Comments »

While interest rates continue to hover near record lows, many of today’s first-time home buyers may find it difficult to come up with the money required to purchase a property. At the end of the day, a low interest rate ... Read More »

Apparently It’s Not a Housing Bubble, But an Affordability Crisis

Apparently It’s Not a Housing Bubble, But an Affordability Crisis
August 7, 2014 No Comments »

Here’s some good news, if you can call it that. Real estate experts at a recent housing forum in San Francisco determined that we are in the midst of an “affordability crisis,” not a housing bubble. Jed Kolko of Trulia ... Read More »

Home Builders Claim $1,000 Price Increase Can Shut 200,000 Out of the Market

Home Builders Claim $1,000 Price Increase Can Shut 200,000 Out of the Market
August 4, 2014 No Comments »

You know that old saying, “Every little bit helps.” Well, the opposite might also be true when it comes to home prices. A new study from the National Association of Home Builders (NAHB) revealed that a mere $1,000 increase in ... Read More »

New Fannie Mae Guideline Could Shut Out Some Buyers Who Sold Short

New Fannie Mae Guideline Could Shut Out Some Buyers Who Sold Short
July 31, 2014 No Comments »

In the next couple weeks, it might be harder to buy a new property after experiencing a short sale, assuming you plan on using a Fannie Mae-backed loan to get the job done. Earlier this week, the GSE announced plans ... Read More »

Volume of $1 Million to $10 Million Mortgages Hits All-Time High

Volume of $1 Million to $10 Million Mortgages Hits All-Time High
July 29, 2014 No Comments »

It’s no secret that mortgage lending has hit the skids in recent months. There are considerably fewer borrowers refinancing their existing mortgages and home purchases are still pretty sluggish. Earlier this year, Black Knight Financial Services said mortgage origination volume ... Read More »

Realtors’ Chief Economist Says FHA Loans Are a Rip-Off for Consumers

Realtors’ Chief Economist Says FHA Loans Are a Rip-Off for Consumers
July 28, 2014 No Comments »

Last week, Zillow hosted its fifth housing forum in the nation’s capital to discuss current real estate matters. The panel of reporters, real estate gurus, and policymakers discussed a number of issues, ranging from why people move to mortgage rates ... Read More »

Zillow to Buy Trulia for $3.5 Billion in Stock

Zillow to Buy Trulia for $3.5 Billion in Stock
July 24, 2014 No Comments »

There were several reports floating around today that Zillow is in talks to buy its smaller rival Trulia for a whole lot of money, despite spokespeople for both companies declining to comment.  But these rumors generally turn out to be ... Read More »