Mortgage News

The latest industry news, digested.

Lender Will Make Your First Mortgage Payment If You Don’t Close on Time

Lender Will Make Your First Mortgage Payment If You Don’t Close on Time
February 4, 2016 No Comments »

A mortgage lender out of Edina, Minnesota is offering to make your first mortgage payment if it is unable to close your purchase loan on time. The new “On Time Closing Guarantee” from Marketplace Home Mortgage will compensate the home ... Read More »

Wells Fargo to Pay $1.2 Billion to Settle Claims It Made Reckless FHA Loans and Concealed Them

Wells Fargo to Pay $1.2 Billion to Settle Claims It Made Reckless FHA Loans and Concealed Them
February 3, 2016 No Comments »

The nation’s largest mortgage lender has agreed in principle to settle a longstanding lawsuit with the United States Department of Justice and the Department of Housing and Urban Development (HUD) over faulty FHA loans the company originated from 2001 until ... Read More »

Despite Nearly Four Years of Gains, Homes Are Still Cheaper Than Pre-Bubble Levels

Despite Nearly Four Years of Gains, Homes Are Still Cheaper Than Pre-Bubble Levels
February 2, 2016 No Comments »

You’d think that after 43 consecutive months of year-over-year home price appreciation things would begin to get too expensive for most folks. Or that future price increases would be doubtful. Well, despite nearly four years of nonstop gains, housing affordability ... Read More »

Quicken Loans Just Paid a Lot of Money for a One Minute Super Bowl Commercial

Quicken Loans Just Paid a Lot of Money for a One Minute Super Bowl Commercial
January 28, 2016 2 Comments »

The nation’s largest nonbank mortgage lender is going to the Super Bowl. Well, they’re not playing in the game, but they did purchase a very expensive one-minute ad slot. Apparently a 30-second advertisement for Super Bowl 50 runs at around ... Read More »

10 Cities Where You Can Reasonably Pay Off Your Mortgage in Seven Years or Less

10 Cities Where You Can Reasonably Pay Off Your Mortgage in Seven Years or Less
January 26, 2016 No Comments »

Most mortgages carry a 30-year term, even if they’re adjustable for some period of those three long decades. But in some cities, it’s reasonably possible to pay off your mortgage a lot earlier thanks to low home prices and decent ... Read More »

Why You Should Buy a Home Next to Trader Joe’s or Whole Foods

Why You Should Buy a Home Next to Trader Joe’s or Whole Foods
January 26, 2016 No Comments »

We all know the old adage: Location, location, location. It’s a real estate mantra that actually makes sense and one everyone should live by if they want their property value to rise. After all, you can’t move your house (in ... Read More »

These Low Mortgage Rates Just Won’t Go Away

These Low Mortgage Rates Just Won’t Go Away
January 21, 2016 No Comments »

It seems every year the experts call for an end to the low mortgage rates. Every December/January we hear from the industry pundits that this will be the year mortgage rates finally rise. But then something odd happens – they ... Read More »

35-Year Mortgages Becoming the Norm in the UK

35-Year Mortgages Becoming the Norm in the UK
January 19, 2016 No Comments »

Across the pond, a dangerous mortgage trend is emerging. In order to keep up with monthly housing payments, new homeowners are opting for 35-year mortgages at a higher and higher rate. The obvious reason being that the 35-year mortgage is ... Read More »

2016 Mortgage Rates Forecast: They Could Climb to 5%

2016 Mortgage Rates Forecast: They Could Climb to 5%
January 7, 2016 No Comments »

Well, another year is behind us and it’s time to look into the crystal ball to see what 2016 has in store when it comes to mortgage rates. I already posted my 2016 predictions for everything mortgage and real estate ... Read More »

10 Predictions for Real Estate and Mortgage in 2016

10 Predictions for Real Estate and Mortgage in 2016
January 6, 2016 No Comments »

It’s time for another round of real estate and mortgage predictions for the coming year. Here are my 2015 and 2014 predictions in case you want to take a look back. 1. Mortgage rates won’t go up that much if ... Read More »