Maximum FHA Loan Limit Restored to $729,750
Late last week, Congress agreed to reinstate the temporarily inflated FHA loan limits that fell on October 1. So for the next two years, homeowners… Read More »Maximum FHA Loan Limit Restored to $729,750
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.
Soon Just About Any Underwater Borrower Will Be Able to Refinance
The Federal Housing Finance Agency (FHFA) released details of a newly revamped Home Affordable Refinance Program (HARP) today, with the main feature being a lack… Read More »Soon Just About Any Underwater Borrower Will Be Able to Refinance
Short Sales Can Save You Money If You’re Extremely Patient
If you’re reading this, you’ve undoubtedly heard of a real estate short sale, which allows a distressed homeowner to unload their property for less than… Read More »Short Sales Can Save You Money If You’re Extremely Patient
Shares of Zillow Skyrocket in Nasdaq Debut
Real estate behemoth Zillow went public today to much fanfare. After an original IPO price target of $12-$14, which later rose to $16-$18 before settling… Read More »Shares of Zillow Skyrocket in Nasdaq Debut
Can’t Pay Your Mortgage? Turn Your Home Into a Billboard
If you’re having trouble keeping up with mortgage payments, which we know many of you are, there’s a new solution. It might be a little… Read More »Can’t Pay Your Mortgage? Turn Your Home Into a Billboard
Former Countrywide Boss to Pay Largest SEC Fine Ever
Former Countrywide CEO Angelo Mozilo will pay a record $22.5 million penalty to settle SEC charges that claim he and two other executives misled investors… Read More »Former Countrywide Boss to Pay Largest SEC Fine Ever
Yield Spread Premiums Banned
The Federal Reserve issued a final rule today that effectively bans yield spread premiums paid to mortgage brokers, along with loan officers employed by depository… Read More »Yield Spread Premiums Banned
Bill Aims to Eliminate Loan Mod Credit Score Hit
A bill introduced by California Congresswoman Jackie Speier earlier this month aims to protect the credit scores of homeowners who accept loan modifications. Currently, even… Read More »Bill Aims to Eliminate Loan Mod Credit Score Hit
Countrywide to Pay $108 Million for Overcharging Homeowners
Former mortgage lending giant Countrywide has been ordered by the FTC to pay out $108 million in refunds to homeowners who were overcharged by the… Read More »Countrywide to Pay $108 Million for Overcharging Homeowners
The Fonz is New Spokesperson for Reverse Mortgage Company
The “Fonz,” better known for being cool than pitching mortgage products to old people, is the new face of a growing reverse mortgage company. One… Read More »The Fonz is New Spokesperson for Reverse Mortgage Company