Mortgage News

The latest industry news, digested.

Four Million Homeowners Denied HAMP Loan Modifications, More Changes Coming?

Four Million Homeowners Denied HAMP Loan Modifications, More Changes Coming?
July 30, 2015 No Comments »

Think it’s hard to get a mortgage? How about a loan modification via the Treasury’s Home Affordable Modification Program (HAMP). A new report from SIGTARP, which stands for Special Inspector General for the Troubled Asset Relief Program, the agency that ... Read More »

Redfin: Housing Demand Slowing Due to Buyer Fatigue

Redfin: Housing Demand Slowing Due to Buyer Fatigue
July 28, 2015 No Comments »

Every year, housing demand picks up during the traditional spring buying season and eventually begins to fade as summer takes hold and kids make their way back to school. But this year’s seasonal slowdown is even more pronounced due to ... Read More »

You Can Get Interest-Only Mortgages from Mortgage Brokers Again

You Can Get Interest-Only Mortgages from Mortgage Brokers Again
July 21, 2015 No Comments »

Party like it’s 2006! Mortgage brokers are now able to peddle interest-only mortgages to qualified borrowers nationwide. Oh wait, that last part about being qualified isn’t really reminiscent of 2006, but I’ll get to that in a moment. This week, ... Read More »

Most Properties Still Sell Below List Price

Most Properties Still Sell Below List Price
July 16, 2015 No Comments »

Even though the housing market appears to be on fire, 63% of properties actually sold for below list price, this according to the May 2015 Realtors Confidence Index Survey. This may seem rather surprising, given how hot real estate has ... Read More »

USDA Home Loans Are About to Get More Expensive

USDA Home Loans Are About to Get More Expensive
July 2, 2015 No Comments »

While the government has been busy lowering costs for FHA loans, it seems the opposite will happen for USDA home loans, which are one of the few avenues left to obtain a mortgage with no money down. In a nutshell, ... Read More »

The Greeks Aren’t Making Their Mortgage Payments

The Greeks Aren’t Making Their Mortgage Payments
July 1, 2015 No Comments »

And who could blame them…what with their entire financial system in complete disarray. The Greek situation is a mess, as you’ve probably heard. The government has fallen behind on its payments to creditors and citizens have made a run on ... Read More »

Harvard: Renting Is the New Buying, But It’s Unaffordable

Harvard: Renting Is the New Buying, But It’s Unaffordable
June 25, 2015 1 Comment »

The Joint Center for Housing Studies of Harvard University released the 2015 edition of The State of the Nation’s Housing report this week and it wasn’t pretty. The report basically highlighted the fact that the homeownership rate has dropped to ... Read More »

Realtor and Airbnb Team Up to Let People Try Before They Buy

Realtor and Airbnb Team Up to Let People Try Before They Buy
June 24, 2015 No Comments »

Consider this common scenario. You really like a house and decide to make an offer. After winning a bidding war and perhaps paying a little more than you wanted, that dream house is yours. Once it comes time to move ... Read More »

New Mortgage Disclosures Delayed Until October

New Mortgage Disclosures Delayed Until October
June 18, 2015 1 Comment »

The so-called TILA RESPA Integrated Disclosure rule, also known as TRID for short, or Know Before You Owe, was expected to go live on August 1st of this year. But due to an “administrative error” discovered by the Consumer Financial ... Read More »

New Bill Touts Shared Equity Mortgage Modifications

New Bill Touts Shared Equity Mortgage Modifications
June 17, 2015 No Comments »

While the housing outlook has certainly improved significantly, some 5.1 million homeowners remain underwater on their mortgages. This means they are unable to sell their homes because they owe more than their properties are worth, and possibly barred from a ... Read More »