Mortgage News

The latest industry news, digested.

The Typical Renter Needs an FHA Loan to Buy a House

The Typical Renter Needs an FHA Loan to Buy a House
April 17, 2014 No Comments »

Last week, the National Association of Realtors (NAR) argued that higher mortgage insurance premiums at the FHA have priced out scores of renters nationwide. Long story short, FHA financing is generally the cheapest option around for those with little set ... Read More »

The Nation’s Most Expensive Short Sale Finally Sold This Week

The Nation’s Most Expensive Short Sale Finally Sold This Week
April 15, 2014 No Comments »

Sure, short sales have come to a relative crawl after carving out a decent slice of the real estate market over the past couple years, but there are still some stragglers gaining bank approval and closing. One of the more ... Read More »

Higher FHA Premiums May Have Priced Out 375,000 Potential Home Buyers

Higher FHA Premiums May Have Priced Out 375,000 Potential Home Buyers
April 9, 2014 2 Comments »

Earlier this week, the National Association of Realtors sent a letter to FHA Commissioner Carol Galante urging her to rethink the agency’s new mortgage insurance structure. Since 2011, annual mortgage insurance premiums have risen from 90 basis points to 135 ... Read More »

Mortgage Lending Hits Lowest Point Since at Least the Year 2000

Mortgage Lending Hits Lowest Point Since at Least the Year 2000
April 7, 2014 No Comments »

A new report from Black Knight Financial Services revealed that monthly mortgage origination volume fell to its lowest point on record in February. And recent prepay speeds signal even more declines in refinance volume in the near future. The company ... Read More »

New Freddie Mac Tool Says National Housing Market Is Weak, But Stabilizing

New Freddie Mac Tool Says National Housing Market Is Weak, But Stabilizing
March 26, 2014 3 Comments »

This morning, Freddie Mac released a new tool called “MiMi,” which stands for Multi-Indicator Market Index. Put simply, it measures the stability of the housing market on the national, state, and metropolitan level and determines whether it’s within its historical ... Read More »

Trulia Bubble Watch Reveals Most of California Is Overvalued

Trulia Bubble Watch Reveals Most of California Is Overvalued
March 25, 2014 2 Comments »

Talk of another housing bubble is not new. In fact, pundits have been fretting about another bubble for over a year now thanks to rapidly rising home prices, with Las Vegas and Phoenix already considered to be bubble markets. That’s ... Read More »

New Bill Would Require Lenders to Consider Green Energy Savings When Determining Homeowner’s Ability to Pay

New Bill Would Require Lenders to Consider Green Energy Savings When Determining Homeowner’s Ability to Pay
March 25, 2014 2 Comments »

A bipartisan energy bill that was introduced to the Senate late last month would benefit mortgage borrowers who buy or refinance energy-efficient homes. The SAVE Act, co-authored by U.S. Senators Michael Bennet (D-CO) and Senator Johnny Isakson (R-GA), would allow ... Read More »

Wholesale Mortgage Lender Drops Minimum FICO Score for FHA and VA Loans to 550

Wholesale Mortgage Lender Drops Minimum FICO Score for FHA and VA Loans to 550
March 24, 2014 2 Comments »

Recently, there has been plenty of moaning and groaning about the mortgage “credit box” being too tight. In a nutshell, banks and lenders have been accused of becoming too conservative, making it difficult for less creditworthy borrowers to obtain financing. ... Read More »

Forget Location, Location, Location, It’s Water, Water, Water!

Forget Location, Location, Location, It’s Water, Water, Water!
March 21, 2014 1 Comment »

What a difference a city makes…in the uber-hot Bay Area, a staggering 43.5% of homes for sale are priced at $1 million bucks or above, according to real estate listing website Trulia. Compare that to other major metros like Chicago, ... Read More »

The Majority of Those Who Bought a Home at the Worst Time in Recent History Still Have Some Equity

The Majority of Those Who Bought a Home at the Worst Time in Recent History Still Have Some Equity
March 17, 2014 No Comments »

Despite the fact that economists always caution homeowners not to look at their homes as investments, people do. In fact, everyone does. How could you not, right? If something goes up and down in value, and has the potential to ... Read More »