Prior to the July 29 Fannie Mae changes, adjustable-rate mortgages required lower loan-to-value, combined loan-to-value, and high combined loan-to-value than fixed-rate mortgages. These low LTV ratios make applying for ARMs less attractive and more difficult for Americans looking to borrow more or Read more
Archives for September 2017
The 4 Hidden Costs of Homeownership and What You Can Do About Them
Homeownership is a rewarding, life-long investment. But let’s be practical, buying a home has costs with some of them out in the open like down payment. Still, other costs can be hidden because they come in later when you have closed the loan.It’s never too late to prepare for these so-called Read more
Fannie Mae Innovates Handling of Disputed Tradelines, Sets Easier Path Toward Loan Approval
While you can certainly report errors found on your credit report, the resolution of these active disputes can take a while and take a toll on your ability to get a mortgage. That is, disputed tradelines stall the loan application process under generally strict underwriting guidelines.But that Read more
MBA Report: Refinances Surge After Rates Dropped
A surge in refinances caused mortgage applications volume to slightly tick up in the previous week, thanks to a drop in interest rates driven by significant market-pressuring events.According to recent data from the Mortgage Bankers Association, total mortgage applications increased by 3.3 Read more
Harvey Could Leave 300K Mortgages in Delinquency: Black Knight
Hurricane Harvey is predicted to leave in its trail some 300,000 mortgages in delinquency with 160,000 90 days + past due. This is according to Black Knight Financial Services’ latest projections released in September.Nevertheless, the Federal Housing Administration, Fannie Mae, and Freddie Mac Read more
