How to save money in a metropolis?

We all presume that life in a metropolis costs notoriously much more. Is it indeed a reality or just an unfounded myth? Saving money while enjoying the perks of living in a big city to the fullest might seem a tough nut to crack, but it’s far from impossible. Let’s join forces as we set […]

Fannie Mae & Freddie Mac to raise loan limits to almost $1 million in some areas

Prompted by a massive rise in home prices over the last year, Fannie Mae and Freddie Mac are reportedly planning to revise the maximum size of the mortgages they’re prepared to back next year. According to the Wall Street Journal, the government sponsored entities are willing to increase their loan limits to almost $1 million […]

Study reveals gender gap in credit card borrowing limits

The gender pay gap in the U.S. has been well documented, but new research shows that men don’t just earn more money, on average, but they also get higher borrowing limits when it comes to credit. That’s according to new research from the Federal Reserve Bank of Philadelphia, which identified an “unexplained gender difference in […]

12% of home sales fall through due to low appraisals

As competition for limited housing inventory intensifies, buyers are bidding up home prices. But many have found that the tactic of making an aggressive bid to beat out other offers backfires, as the appraised value of the home falls well below the agreed price. The National Association of Realtors’ latest Confidence Index Survey, based on […]

Fannie Mae to allow third-party homeownership education courses

Fannie Mae has said it will allow third-party operators to provide the homeownership education courses that many buyers are compelled to take to secure a mortgage. The organization said the third-party homeownership education providers will have to be aligned with the National Industry Standards for Homeownership Education and Counseling or with the Department of Housing […]

Zillow finalizes ShowingTime acquisition despite opposition to the deal

Zillow has closed on its $500 million acquisition of the home viewing scheduling platform ShowingTime, despite the deal facing opposition and intense regulatory review. Zillow first announced its plans to buy ShowingTIme in April, however the deal was held up when the Federal Trad Commission announced it was carrying out a review to ensure the […]

Consumer complaints over credit reporting and loan originations jumped during pandemic

Consumer complaints over credit reporting and loan originations jumped significantly during the past 18 months, as the COVID-19 pandemic hit and interest rates plummeted to historic low levels. A lengthy report from the Consumer Financial Protection Bureau looked at the relationship between U.S. Census characteristics and the share of consumers who made official complaints about […]

Report warns mortgage industry is unprepared for climate change

A report has raised concerns that stakeholders in the U.S. mortgage market, including lenders, investors and insurers, are woefully unprepared for accelerating climate change and the risk it brings. Not only are lenders and others unprepared to mitigate their risk, but according to the report from the Mortgage Bankers Association’s Research Institute for Housing America, […]

Mortgaged homes gain almost $3 trillion in equity in Q2

American homeowners with mortgages gained a combined $2.9 trillion in equity during the second quarter, up 29.3% from the same period one year ago. That amounts to an average equity gain of $51,500 per borrower over the last year, according to a report from CoreLogic this week. In its report, CoreLogic determines the amount of […]

Mistakes to avoid before closing on a home

Avoid these mistakes before closing on home loan