Mortgage News

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

If You Took Out a VA Loan in the Past 20 Years, Look Out for a Possible Refund

If You Took Out a VA Loan in the Past 20 Years, Look Out for a Possible Refund
October 10, 2019 No Comments »

Over the past few years, VA loans have been at the center of controversies related to loan churning and high prepayment speeds. In short, some veterans were refinancing their home loans at a very aggressive pace, whether beneficial to them ... Read More »

2012 Was a Really Good Year to Buy a Home

2012 Was a Really Good Year to Buy a Home
September 26, 2019 No Comments »

A new report from Redfin revealed 2012 was an absolutely fantastic time to purchase a home. Collectively, that crop of home buyers earned $203 billion in equity since their well-timed purchases, with the median homeowner having gained 261%, or $141,000. ... Read More »

The Number One Reason Mortgages Were Denied in 2018

The Number One Reason Mortgages Were Denied in 2018
September 26, 2019 No Comments »

Hint: It wasn’t because of a low credit score. Some say a mortgage (homeownership) is a privilege, not a right. In other words, you have to display some financial responsibility in order to obtain one. After all, a bank is ... Read More »

Blend Launches One Tap Pre-Approvals for Mortgages

Blend Launches One Tap Pre-Approvals for Mortgages
September 25, 2019 No Comments »

The thing about mortgages is they continue to be difficult to obtain relative to just about everything else out there. Today, it’s easy to buy anything with the literal click of a button, whether it’s a new pair of shoes, ... Read More »

FHA Approved Condos: Individual Units Now Eligible for Financing!

FHA Approved Condos: Individual Units Now Eligible for Financing!
August 15, 2019 No Comments »

People looking to buy a condo with FHA financing rejoice. HUD has released a new condominium approval process that, among other things, brings back spot approvals. The policy, which goes into effect on October 15th, 2019, is part of the ... Read More »

Wait, Home Buying Is the Cheapest It’s Been in 20 Years?

Wait, Home Buying Is the Cheapest It’s Been in 20 Years?
July 31, 2019 No Comments »

If you happen to be in the market to buy a home, you’re probably not giddy with delight over today’s sky-high listing prices. After all, home prices continue to inch higher and higher from their near-term lows seen about a ... Read More »

Amazon TurnKey: Get Free Stuff If You Use a Realogy Agent

Amazon TurnKey: Get Free Stuff If You Use a Realogy Agent
July 23, 2019 No Comments »

While they’re not yet directly involved in the mortgage industry, Amazon has now dipped its toes in the real estate pool via a new home buying program known as TurnKey. What is TurnKey you ask? Well, it’s essentially a link-up ... Read More »

37% of American Homeowners Are Now Free and Clear

37% of American Homeowners Are Now Free and Clear
July 18, 2019 No Comments »

What a difference a decade makes. Back in 2009, it was a lot more common to hear about underwater mortgages than free and clear homeowners. In fact, a Deutsche Bank analyst warned at the time that 48% of U.S. homeowners ... Read More »

Homeowners with Year-Old Mortgages Are Refinancing Like Crazy

Homeowners with Year-Old Mortgages Are Refinancing Like Crazy
July 2, 2019 No Comments »

A new report from Black Knight revealed that prepayment activity (early payoff of a mortgage) has been surging thanks to the precipitous drop in mortgage rates. It has more than doubled in just the past four months alone, and is ... Read More »

Freddie Mac CHOICERenovation Mortgage Review

Freddie Mac CHOICERenovation Mortgage Review
June 20, 2019 No Comments »

Freddie Mac has just launched a new renovation loan product known as the “Freddie Mac CHOICERenovation Mortgage.” While the name is a bit of a mouthful, the offering is expected to be more liberal than their existing plainly named Renovation ... Read More »