Faira Looks to Ditch the Real Estate Agent
A new company called Faira, founded by a guy who designed business models for eBay and Microsoft, wants to sell your home with less stress… Read More »Faira Looks to Ditch the Real Estate Agent
Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.
I’ve been covering the mortgage industry since 2006, at a time when scores of banks and lenders were closing their doors after some very big boom years.
In fact, you can see my ongoing list of mortgage layoffs and closures if you’re curious just how many companies didn’t survive that period.
Fortunately, the climate has improved considerably since then, despite a big uptick in mortgage rates lately.
This too has led to companies merging or folding entirely, though this time around due to a lack of volume as opposed to an increase in loan defaults.
I strive to write compelling mortgage news stories, whether it’s the top lenders for a given year, a novel mortgage product, new loan limits, or a big policy change.
You can see all my latest mortgage news posts below.
The BRED Mortgage: Combining a 30-Year Fixed, 15-Year FRM, and 5/1 ARM
Most homeowners these days rely on 30-year fixed-rate mortgages to finance their homes. But there are obvious drawbacks to the 30-year fixed, one being that… Read More »The BRED Mortgage: Combining a 30-Year Fixed, 15-Year FRM, and 5/1 ARM
FHA Comes Under Attack, Again, This Time by the Big Banks
Just over a month ago, it seemed as if the FHA was loosening up. They launched the Supplemental Performance Metric, a measure introduced to ensure… Read More »FHA Comes Under Attack, Again, This Time by the Big Banks
Portland Residents Don’t Want Californians Buying Their Homes
Anti-Californian sentiment has reared its ugly head in Portland, Oregon where home prices are apparently spiraling out of control. An article in The Oregonian points… Read More »Portland Residents Don’t Want Californians Buying Their Homes
Sweden Will Force Homeowners to Pay Down Their Mortgages
In an effort to cool off the white-hot real estate market in Sweden, the country’s Financial Supervisory Authority (FSA) has been given permission to require… Read More »Sweden Will Force Homeowners to Pay Down Their Mortgages
Fannie Mae HomeReady Will Help Lower Income Borrowers Get Mortgages
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… Read More »Fannie Mae HomeReady Will Help Lower Income Borrowers Get Mortgages
Jumbo Loans Now Available with Just 5% Down
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.… Read More »Jumbo Loans Now Available with Just 5% Down
Is the Stock Market Correction Good or Bad for Homeowners?
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… Read More »Is the Stock Market Correction Good or Bad for Homeowners?
New Real Estate Trend: Sell Existing Home Before Buying Another
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… Read More »New Real Estate Trend: Sell Existing Home Before Buying Another
Why It Might Get Easier to Obtain a FHA Loan with a Poor Credit Score
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.… Read More »Why It Might Get Easier to Obtain a FHA Loan with a Poor Credit Score