Cash out refinancing hit its lowest point since late 2003 last quarter, but that’s not necessarily bad news. During the second quarter, just 38 percent… Read More »Rate and Term Refis Reduce Mortgage Payments by Billions
Everything you’ve ever wanted to know about refinancing a mortgage, which is essentially replacing your dusty old home loan with a brand new shiny one.
As expected, the recent spike in mortgage rates has led to wild new proposals to solve the ongoing mortgage crisis. The latest proposal comes from… Read More »Four Percent Mortgage Proposed to Solve Crisis
San Francisco-based bank and mortgage lender Wells Fargo reportedly hired 5,000 employees to handle its ever-increasing mortgage workload, according to Bloomberg. Wells Fargo CFO Howard… Read More »Wells Fargo Hired 5,000 Employees to Handle Mortgage Workload
During a Housing Refinance Roundtable today, President Obama urged homeowners to take advantage of the record low mortgage rates currently on offer. He made the… Read More »Obama Urges Americans to Refinance Mortgages
Bank of America said today it has begun processing refinance applications under the Treasury’s “Making Home Affordable” program, with nearly 200,000 customers contacting the company… Read More »Bank of America Refinancing Under Making Home Affordable Program
More good news…for loan originators. The Mortgage Bankers Association increased its 2009 mortgage lending forecast by $800 billion to $2.78 trillion thanks to the expected… Read More »MBA Ups 2009 Mortgage Forecast by $800 Billion
The FHA, which has seen its share of scrutiny as of late, plans to lower the maximum loan-to-value associated with cash-out refinances beginning April 1.… Read More »FHA Limits Cash Out Refinances to 85 Percent
Everyone knows mortgage rates have plummeted in recent weeks, but what does that actually mean for those looking to refinance? With tough guidelines in place… Read More »Medical Collections Killing Refinance Frenzy?
U.S. Senator and presidential hopeful John McCain delivered a speech today at a small business roundtable in Brooklyn, unveiling his so-called “HOME” plan to tackle… Read More »Senator McCain Unveils Mortgage Refinance Plan