If you can’t beat them, join them. Mortgage lenders reportedly eased their credit standards, and will likely to do so, bracing for a tougher competition when mortgage demand is declining.Fannie Mae’s Mortgage Lender Sentiment Survey® for the quarter ended June 30, 2017 reported that the number Read more
Buyers Should Look at More Than Interest Rates
Contrary to popular belief, focusing on the interest rate on a mortgage is not the right choice. There are other factors to a mortgage payment that make it affordable. You must look not only at your current affordability, but over the life of the loan. Remember, this is a loan you will have for many Read more
Can You Transfer your Mortgage to Another Borrower?
Sometimes it makes more sense to transfer a mortgage to another person rather than the new borrower taking out a new loan. The time this makes the most sense is when interest rates increase so much that the payment becomes unaffordable. If you currently have a mortgage with a lower rate, the buyer Read more
Ellie Mae: Lenders Speed Up Loan Processing
According to the most recent Ellie Mae Originations Insight Report, purchase loans continue its second month soar to record a 63 percent increase in purchase originations. This is an increase from February’s 57 percent and January’s 53 percent. This has been the highest in the book since July last Read more
Experian Launches Mortgage’s Digitized Verification
Not much has changed when we speak of the mortgage industry’s underwriting and loan approval process. Sad to say, it has not gone past its “stone age” era.In tune with today’s advancements in information technology, Experian with its partner, Finicity, aims to take the mortgage process into a Read more
