An Open House Got Shut Down by the Cops
The real estate market is starting to get really, really weird. Recently, an open house was actually shut down by the police after more than… Read More »An Open House Got Shut Down by the Cops
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.
Mortgage Lender Launches Six-Year ARM
File this one under PR department. Or perhaps publicity stunt. Last week, First Savings Mortgage Corporation based out of McLean, Virginia launched a 6/1 adjustable-rate… Read More »Mortgage Lender Launches Six-Year ARM
Discover May Exit the Mortgage Biz
After only about three years, Discover might be looking to get out of the mortgage business, per a new interview with Discover Financial CEO David… Read More »Discover May Exit the Mortgage Biz
Homes Next to Starbucks Are Worth More
Here’s an interesting, though not surprising data point from Zillow. It turns out properties located next to Starbucks locations are bigger winners in terms of home… Read More »Homes Next to Starbucks Are Worth More
The Mortgage Crisis Created Nearly 7.3 Million Potential Boomerang Buyers
It has now been roughly seven years since the devastating housing crisis rocked our great nation. Between 2007 and 2014, foreclosure activity ran well above… Read More »The Mortgage Crisis Created Nearly 7.3 Million Potential Boomerang Buyers
Why Aren’t You Shopping Around for Your Mortgage?
I’ve got a bone to pick…it seems you aren’t bothering to shop around for your mortgage? Instead, you’re just going with the first lender you… Read More »Why Aren’t You Shopping Around for Your Mortgage?
Fannie and Freddie Now Allow Purchases and Refis up to 97% LTV
In an effort to make homeownership more accessible, seeing that down payment is often the biggest hurdle, Fannie Mae and Freddie Mac have announced that… Read More »Fannie and Freddie Now Allow Purchases and Refis up to 97% LTV
HAMP Participants Are Now Eligible for an Additional $5,000 in Principal Balance Reduction
It sounds like Christmas came early this year…borrowers who already received loan modifications via the Home Affordable Modification Program (HAMP) are now eligible for expanded… Read More »HAMP Participants Are Now Eligible for an Additional $5,000 in Principal Balance Reduction
Fannie Mae Reduces Max LTV on Cash-Out Refinances to 80%
Though it may soon become easier to purchase a home with less money down, assuming 3% mortgages return as Mel Watt has promised, extracting existing… Read More »Fannie Mae Reduces Max LTV on Cash-Out Refinances to 80%
Are Low Credit Scores More Dangerous Than Low Down Payments?
Ever since Mel Watt hinted at the return of 3% down mortgages, there’s been a lot of worry that we could be headed down another… Read More »Are Low Credit Scores More Dangerous Than Low Down Payments?