As 2017 is drawing to a close, homeowners aged 62 and above may be able to draw more from their home equity. They were $121 billion in home equity richer during the third quarter of 2017 per Reverse Mortgage Market Index (RMMI) by the National Reverse Mortgage Lenders Association and 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
The ABCs of an FHA Loan
If you are looking for a financing option to fund the purchase of your home, an FHA loanis a choice worth considering.Originally established as a relief to the housing crisis of the 1930s, the program was intended to help protect lenders by insuring the loans they originate. This gave more 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
Mortgage Applications Fell After 2 Weeks of Increase
In the survey ending July 28, 2017, the total volume of mortgage applications dwindled after two consecutive weeks of increase in the same month. The refinance activity also scored down slightly according to the latest survey. Survey Highlights:The Market Composite Index has decreased 2.8 Read more
