Categories for Mortgage Regulations

The Secondary Mortgage Market: What Happens to Your Mortgage After You Close?

August 9, 2016 by Leave a comment

Fun fact: your mortgage lender—the bank or company that granted you your loan—probably isn’t cashing your mortgage payment check each month. That’s because almost immediately after you closed on your loan, they turned around and sold it. With the housing bubble that caused the recession still on everyone’s mind, it’s more important now than ever... View Article

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Getting a Mortgage in 2016? Here’s What You Need to Know

February 9, 2016 by Leave a comment

As recently as two years ago, only 17 percent of all applications for a mortgage to buy a home were approved.[1]  Approval rates have improved greatly since then for two reasons. First, borrowers are doing a much better job of getting their credit, debt, and documentation in order before they apply.  Second, lenders have slowly... View Article

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How to Exchange Info With Lenders Securely

March 5, 2015 by Leave a comment

In the past, getting a mortgage required meeting with a lender and applying for a loan in-person. The lender would gather all information needed to process a loan and then determine whether an applicant was eligible. Today, it’s a much different scenario. You can apply for a mortgage from the comforts of your home with... View Article

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New FHA Home Loan Guidelines for 2015

January 26, 2015 by Leave a comment

If you need a low-down payment mortgage and you don’t have the best credit score, an FHA home loan can help you get the keys to homeownership. The FHA home loan program has been around since 1934 making homeownership affordable for many. With the new year underway, the Federal Housing Administration recently announced changes to... View Article

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Mortgages are Getting More Affordable for First-Time Buyers

January 12, 2015 by Leave a comment

Thanks to a series of recent decisions, authorities are opening up the mortgage marketplace to more first-time and low-income homeowners. Last month, Fannie Mae and Freddie Mac announced that they will begin backing fixed-rate mortgages with down payments as low as 3%. Then, last Thursday, the President announced a 0.5 percent cut to the mortgage insurance premiums... View Article

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FHFA Policy Changes May Loosen Lending Requirements

November 10, 2014 by 1 Comment

Many prospective homeowners believe saving money for a down payment and filing out the requisite paperwork is all they need to become a homeowner. Unfortunately, some have learned that tough lending requirements stand in their way to achieve this dream. But this could soon change thanks to new rules proposed by the Federal Housing Finance... View Article

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Getting a Mortgage is About to Get Easier

October 22, 2014 by Leave a comment

For the last few years, sizable down payments have been the lender-mandated norm, after thousands and thousands of loans gone bad sent the housing market stumbling. But this may have changed yesterday (Tuesday, October 21st, 2014, for those of you in the future). According to The Wall Street Journal: Federal regulators took a big step toward... View Article

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