Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.Top Reverse Mortgage Lender AAG Now Offering Forward Mortgages
File this one under: why didn’t we (they) think of this sooner. While it might seem like a no-brainer in hindsight, top reverse mortgage lender American Advisors Group (AAG) will now start serving up forward mortgages to its customers. Reverse ... Read More »
Quicken Loans Is the Largest Home Loan Lender for the First Time Ever
Anyone watching this space knew it was going to happen, but perhaps not this fast. Quicken Loans officially became the largest mortgage lender in the country during the fourth quarter of 2017, surpassing its long-time rival Wells Fargo. Quicken Loans ... Read More »
Better Mortgage Is Giving Home Buyers Pre-Offer Appraisals to Help Them Compete
In a bid to get a leg up on the competition, Better Mortgage is allowing prospective home buyers to get an appraisal on a property before actually making an offer. Ideally, this gives them the power to go head-to-head with ... Read More »
Mortgage Rates Are Lower Than They Were a Year Ago
Can I rant about mortgage rates for a minute? I just can’t help myself. First things first, current mortgage rates are actually lower today than they were a year ago. Let’s make that clear. This is true despite the headlines ... Read More »
PHH Mortgage to Provide Borrowers with $30.4 Million for Improper Loan Servicing
It’s 2018 and the mortgage settlements continue. As part of an agreement reached today with 49 states and Washington D.C., PHH Mortgage Corp. will pay out $30.4 million to borrowers impacted by so-called improper mortgage servicing. PHH Is a Top-10 ... Read More »
Guaranteed Rate Launches New Jumbo Loan with Interest-Only Option
Well, it’s a new year, and with that comes new and exciting home loan programs to help borrowers purchase homes or refinance existing mortgages. The newest one comes courtesy of Guaranteed Rate, which launched its “GR Flex Power” mortgage that ... Read More »
See How Exuberant Your Housing Market Is
Back in the mid-1990s, former Federal Reserve Board chairman Alan Greenspan used the phrase “irrational exuberance,” which served as a warning that the stock market may have been overextended. This was around the time of the dot-com bubble and there ... Read More »
2018 FHA Loan Limit Floor Increased to $294,515
Just like the 2018 conforming loan limits, the FHA will see its 2018 loan limits increase as well, which is welcome news for home buyers in more expensive areas of the country. For FHA case numbers assigned on or after ... Read More »
Guaranteed Rate Brings Back Same Day Mortgage Underwriting
Back in the good old days, pre-mortgage crisis, you could get a fully underwritten mortgage approval the same day. In fact, you could get approved for a mortgage by the early afternoon if you submitted a complete loan package that ... Read More »
New Program Allows Renters to Get a Mortgage with as Little as a Security Deposit
Home Partners of America and New Penn Financial have joined forces to offer renters the ability to get a mortgage with as little as their security deposit. The joint venture aims to alleviate one of the main obstacles to owning ... Read More »
