Mortgage News

The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.

PHH Mortgage to Provide Borrowers with $30.4 Million for Improper Loan Servicing

PHH Mortgage to Provide Borrowers with $30.4 Million for Improper Loan Servicing
January 3, 2018 No Comments »

It’s 2018 and the mortgage settlements continue. As part of an agreement reached today with 49 states and Washington D.C., PHH Mortgage Corp. will pay out $30.4 million to borrowers impacted by so-called improper mortgage servicing. The company, which is ... Read More »

Guaranteed Rate Launches New Jumbo Loan with Interest-Only Option

Guaranteed Rate Launches New Jumbo Loan with Interest-Only Option
January 2, 2018 No Comments »

Well, it’s a new year, and with that comes new and exciting home loan programs to help borrowers purchase homes or refinance existing mortgages. The newest one comes courtesy of Guaranteed Rate, which launched its “GR Flex Power” mortgage that ... Read More »

See How Exuberant Your Housing Market Is

See How Exuberant Your Housing Market Is
December 20, 2017 No Comments »

Back in the mid-1990s, former Federal Reserve Board chairman Alan Greenspan used the phrase “irrational exuberance,” which served as a warning that the stock market may have been overextended. This was around the time of the dot-com bubble and there ... Read More »

2018 FHA Loan Limit Floor Increased to $294,515

2018 FHA Loan Limit Floor Increased to $294,515
December 7, 2017 No Comments »

Just like the 2018 conforming loan limits, the FHA will see its 2018 loan limits increase as well, which is welcome news for home buyers in more expensive areas of the country. For FHA case numbers assigned on or after ... Read More »

Guaranteed Rate Brings Back Same Day Mortgage Underwriting

Guaranteed Rate Brings Back Same Day Mortgage Underwriting
December 4, 2017 No Comments »

Back in the good old days, pre-mortgage crisis, you could get a fully underwritten mortgage approval the same day. In fact, you could get approved for a mortgage by the early afternoon if you submitted a complete loan package that ... Read More »

New Program Allows Renters to Get a Mortgage with as Little as a Security Deposit

New Program Allows Renters to Get a Mortgage with as Little as a Security Deposit
November 29, 2017 No Comments »

Home Partners of America and New Penn Financial have joined forces to offer renters the ability to get a mortgage with as little as their security deposit. The joint venture aims to alleviate one of the main obstacles to owning ... Read More »

2018 Conforming Loan Limit Jumps to $453,100

2018 Conforming Loan Limit Jumps to $453,100
November 28, 2017 No Comments »

It’s that time of year again, when the FHFA announces the conforming loan limit for the upcoming year. And like last year, it’s going up! This marks just the second increase in the past decade thanks to that pesky housing ... Read More »

Quicken Loans Offering Cyber Monday Mortgage Deal

Quicken Loans Offering Cyber Monday Mortgage Deal
November 27, 2017 No Comments »

I was curious if any mortgage lenders were getting in on the Black Friday and Cyber Monday deals, and it turns out at least one is. Unsurprisingly, it’s Quicken Loans, one of the largest retail mortgage lenders out there. I ... Read More »

Flagstar Offering Zero Down Mortgages to Michigan Home Buyers

Flagstar Offering Zero Down Mortgages to Michigan Home Buyers
November 13, 2017 No Comments »

Flagstar Bank is the latest mortgage lender to offer a home loan with zero down payment requirement. They even go a step further by offering to pay the borrower’s closing costs too. Sounds pretty sweet, doesn’t it? Unfortunately, the new ... Read More »

Capital One to Stop Offering Mortgages

Capital One to Stop Offering Mortgages
November 8, 2017 No Comments »

It’s feeling a little like 2007 today. Back then, I was writing posts like this on a daily basis. Capital One has announced that it is exiting the mortgage business, seemingly surprising given the current real estate climate that is ... Read More »