Mortgage News

The latest industry news, digested.

Why You Cant Sell Your Home Even If You’d Like To

Why You Cant Sell Your Home Even If You’d Like To
August 27, 2015 No Comments »

In California, the majority of homeowners who have pondered selling in the past year haven’t because they can’t find a replacement home. You’ve heard about inventory constraints and those obviously affect existing homeowners as well unless they make the odd ... Read More »

Fannie Mae HomeReady Will Help Lower Income Borrowers Get Mortgages

Fannie Mae HomeReady Will Help Lower Income Borrowers Get Mortgages
August 25, 2015 No Comments »

In an effort to boost home loan lending to lower- and moderate-income borrowers, Fannie Mae has created a new program called “HomeReady.” Fannie didn’t release all the details yet, but they expect to roll out the program later this year, ... Read More »

Jumbo Loans Now Available with Just 5% Down

Jumbo Loans Now Available with Just 5% Down
August 25, 2015 No Comments »

It sounds like the credit box is beginning to open up a bit more, maybe too much if the latest product announcements are any indication. This week, Parkside Lending launched a new jumbo mortgage that only requires a five percent ... Read More »

Is the Stock Market Correction Good or Bad for Homeowners?

Is the Stock Market Correction Good or Bad for Homeowners?
August 24, 2015 1 Comment »

So the inevitable happened – the U.S. stock market corrected after questions about the questionable Chinese economy sparked a global selloff. Over the past few trading days, the Dow, Nasdaq, and S&P 500 have all fallen by more than 10% ... Read More »

New Real Estate Trend: Sell Existing Home Before Buying Another

New Real Estate Trend: Sell Existing Home Before Buying Another
August 19, 2015 No Comments »

A new survey from online real estate brokerage Redfin regarding home buyer sentiment found that existing owners are a lot more likely to sell before purchasing a new home. In fact, the percentage of survey participants who said they would ... Read More »

Why It Might Get Easier to Obtain a FHA Loan with a Poor Credit Score

Why It Might Get Easier to Obtain a FHA Loan with a Poor Credit Score
August 19, 2015 No Comments »

The Federal Housing Administration (FHA) already has some of most relaxed mortgage underwriting guidelines around, but many lenders don’t originate loans based on their standards. I often receive questions like, “I have a 600 credit score but they won’t approve ... Read More »

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 2 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 »