The Federal Housing Finance Agency is seeking the opinion of mortgage lenders, professionals, and relevant housing stakeholders regarding Fannie Mae and Freddie Mac’s update on their credit score requirements.This update entails a shift in the use of Classic FICO scores to another scoring Read more
Freddie Mac Suspends Evictions Nationwide, Foreclosure Sales in Disaster Areas
Borrowers with foreclosed homes owned by Freddie Mac are in for a good news this holiday season: the agency is suspending eviction lockouts nationwide until January next year.This is accompanied by a separate suspension of foreclosure sales in eligible areas hit by hurricanes Irma, Harvey, and Read more
FHFA: 142.7K Refinances Completed in Oct., HARP® Nears 3.5M Refi Mark
Federal Housing Finance Agency, or FHFA, reported an increase in refinances for the month of October 2017 as mortgage rates in September remained low.At the core of the FHFA’s October 2017 report were refinances through the Home Affordable Refinance Program® that are moving closer Read more
More Americans Are Carrying Mortgage to Retirement
The average American has to wade through years of hard work in order to own a home of one's own. Indeed, very few have enough resources or the cash to pay even make the required down payment on a mortgage. In fact, most Americans understand that paying for a home loan has long been a necessary Read more
FHA No Longer Backs Residential Mortgages With PACE Loans, Here’s Why
“FHA can no longer tolerate putting taxpayers at risk by allowing obligations like these to be placed ahead of the mortgage itself in the event of default,” Dr. Ben Carson, secretary of the Housing and Urban Development, said in a statement announcing the agency’s decision to not insure residential Read more
