Mortgage News

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

Lennar Offers to Pay Your Student Loans If You Buy a New Home

Lennar Offers to Pay Your Student Loans If You Buy a New Home
September 26, 2017 1 Comment »

One of the more common problems young home buyers face these days is student loan debt, which can complicate a mortgage approval (and a successful home purchase). Lenders are well aware of this, as are home builders and the GSEs ... Read More »

Next Year the Mortgage Refinance Share Will Hit Its Lowest Point Since 1990

Next Year the Mortgage Refinance Share Will Hit Its Lowest Point Since 1990
September 26, 2017 No Comments »

If you trust in Freddie Mac, next year isn’t going to be a great year for mortgage refinance volume. The government-sponsored enterprise warned of a major refinance slowdown in its latest monthly Outlook for September 2017. Apparently, the refinance share ... Read More »

A 30-Year Fixed Mortgage That Is Adjustable, Self-Refinancing, and Ideally Paid Off Early

A 30-Year Fixed Mortgage That Is Adjustable, Self-Refinancing, and Ideally Paid Off Early
September 20, 2017 No Comments »

Confused yet? Yeah, me too. Let’s dive in. For a while now, the 30-year fixed-rate mortgage has been under attack. In short, opponents of the popular loan program argue that it builds equity far too slowly and requires government support ... Read More »

23% of Recent Purchase Mortgages Required a Co-Borrower

23% of Recent Purchase Mortgages Required a Co-Borrower
September 7, 2017 No Comments »

It appears home prices are rising too much, too fast, if the latest report from ATTOM Data Solutions is any indication. The company noted that 22.8% of single-family home purchase loans originated in the second quarter contained a co-borrower. ATTOM ... Read More »

ZHome Lets You Sell Your Current Home in 24 Hours So You Can Buy a Brand New One

ZHome Lets You Sell Your Current Home in 24 Hours So You Can Buy a Brand New One
August 31, 2017 No Comments »

A company called ZHome, which can apparently generate an offer to buy your home within 24 hours, is also making it easier for existing homeowners to buy brand news homes. There are several issues with unloading one home and acquiring ... Read More »

Wells Fargo Hit with Lawsuit Related to Improper Mortgage Lock Fees

Wells Fargo Hit with Lawsuit Related to Improper Mortgage Lock Fees
August 30, 2017 No Comments »

It’s been a tough year or so for Wells Fargo, the undisputed king of mortgages. While they continue to lead the nation in home loan origination volume, they seem to be getting hit from every angle thanks to some alleged ... Read More »

360 Mortgage Group Touting 15-Minute Mortgage Approval Sans Loan Officer

360 Mortgage Group Touting 15-Minute Mortgage Approval Sans Loan Officer
August 29, 2017 No Comments »

A mortgage bank by the name of 360 Mortgage Group is making some lofty claims, one being a 15-minute full mortgage approval. The company says its customers can “receive a true loan approval in 15 minutes on average,” which sounds ... Read More »

Jay-Z and Beyoncé Take Out $52.8 Million Mortgage on Bel Air Home

Jay-Z and Beyoncé Take Out $52.8 Million Mortgage on Bel Air Home
August 24, 2017 No Comments »

Think you can’t get a jumbo loan these days? Think again. Power couple Jay-Z and Beyoncé somehow managed to get a $52.8 million-dollar mortgage from the bank to finance their home in Los Angeles. Per the LA Times, the pair ... Read More »

Mortgage Lender Nationstar Becomes Mr. Cooper, Will Offer Home Rewards Credit Card

Mortgage Lender Nationstar Becomes Mr. Cooper, Will Offer Home Rewards Credit Card
August 23, 2017 No Comments »

Nationstar Mortgage officially announced its name change to “Mr. Cooper” this week in what appears to be an effort to make a fresh start with a more appealing and consumer friendly image. At first glance, the name Mr. Cooper sounds ... Read More »

Soon You May Be Able to Buy a House Without an Appraisal

Soon You May Be Able to Buy a House Without an Appraisal
August 18, 2017 No Comments »

Here’s something that may finally speed up the typically slow home loan process: an appraisal-less home purchase. Yep, it’ll be a reality for some folks come September thanks to a new initiative by Freddie Mac. First a little background. The ... Read More »