It’s not everyday that a home is sold in a month or less. Some properties remain unsold on the Multiple Listing Service (MLS) for six months. What if a homeowner has a change of heart and decides to do a cash-out refinance instead? What about the usual cash-out seasoning period?Existing Read more
A Sight to Behold: Fannie Mae Removes Project Reviews for Site Condos
Project reviews on condo, co-op and planned unit development projects safeguard Fannie Mae’s interest in mortgages securing units in those projects. But a subset of detached condominiums called site condos has earned an exception from Fannie’s rigorous project risk review.Site condos are not the 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
Home Loans 101: Purchase and Refinance Mortgages
Mortgages are a handful with their army of technical terms and concepts. Still, there are two basic concepts you can start with: purchase and refinance. Getting to know how these home loans work in general is the first step in breaking down the mortgage wall.Meet various home loan products Read more
Ellie Mae Reports Refinancing Boost Among Millennials
It has been going around the real estate circles, discussed in corporate meetings and research groups, articles were written analyzing “the phenomenon” of why millennials just aren’t buying houses. But a recent reportfrom Ellie Mae’s Millennial Tracker seems to debunk the rumors through Read more
