Articles
September 5, 2013
Qualification Rules for Home Loans Relaxed by Regulators
According to a recent article in the Washington Post by Danielle Douglas, Federal regulators have “softened” a proposed rule that would require banks to keep a stake in home loans that they parcel out to investors, for fear that the policy would…
August 28, 2013
FHA Back to Work – Extenuating Circumstances Program
The U.S. Department of Housing and Urban Development recently published Mortgagee Letter 2013-26 under the subject “Back to Work–Extenuating Circumstances” for all FHA-Approved Mortgages. This new ML explains that FHA is continuing its commitment to “fully” evaluate borrowers who have experienced periods…
August 21, 2013
The Difference Between a Pre-Approval and a Pre-Qualification
If you are in the market and serious about purchasing a home, one of the most important things you can do speak with a lender and get pre-approved. By doing this, it will definitely benefit all of the parties involved because it…
August 14, 2013
Eminent Domain Controversy
An interesting controversy in the mortgage industry made headlines last week as the mayor of Richmond, California, Gayle McLaughlin, invoked eminent domain in an effort to save underwater homeowners from foreclosure. McLaughlin announced and immediately defended a plan to seize underwater mortgages…
August 7, 2013
President Obama Explains Mortgage Reform
In Phoenix on Tuesday, President Barack Obama explained that the need for new efforts to support American homeowners, and he also suggested the closing of government-backed mortgage finance companies to limit the risk to “public money.” Phoenix was one of the worst…
July 31, 2013
Don’t Forget About the Extra Costs of Owning a Home
With mortgage rates still at a great percentage to purchase that dream home of yours, you still need to be prepared for the “true” cost of owning a home. These are specific items that you need to be aware of which will…
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