Avoid these mistakes before closing on home loan
Rapid home equity growth calms foreclosure crisis fears
September 15, 2021 by
As government backed foreclosure moratoriums edge closer to expiration, the number of borrowers who’re still under some kind of bailout program is declining fast. But the future is not as bleak as some may have feared for those who’re still in trouble. Data from Black Knight shows there were 1.618 million American borrowers still in
UWM details plan to offer in-house appraisal services
September 13, 2021 by
United Wholesale Mortgage has said it’s rolling out a new program that allows lenders to work directly with appraisers, instead of using an independent appraisal management company. The new program is called Appraisal Direct and will roll out on October 1 nationwide. Under the program, it will oversee the entire appraisal process, from scheduling the
LendingHome rebrands as “Kiavi” and moves into investor loans
September 7, 2021 by
Mortgage financing and rental loan provider LendingHome is rebranding itself as “Kiavi” as it looks to expand into providing lending options for real estate investors. The company said the name Kiavi is derived from the Italian word “chiave”, which means “key” in English. The company says it has seen a big jump in demand for
What to Know About a 203k Rehab Loan
August 30, 2021 by
203k FHA Loans Explained Are you considering buying a home that needs work? When buying a fixer-upper, one of your primary considerations should be how you will finance the project. One of the better options is what’s known as an FHA 203k loan. FHA 203K Mortgage is the term that designates funding dedicated to purchasing
Fannie Mae just gave renters aspiring to home ownership a big boost
August 15, 2021 by
First time buyers who’ve always stayed current on their rent might have a better chance of securing a mortgage now. That’s because Fannie Mae is now allowing lenders to factor in an applicant’s rental payment history as part of the mortgage underwriting process for the first time. The move was announced by the Federal Housing
Does it Make Sense to Refinance My Mortgage?
July 19, 2021 by
If you are asking yourself, “should I refinance?” there are many things to consider. Homes are normally the largest expense people ever commit to and one that can have far-reaching consequences on their financial future. Looking at refinance mortgage options should provide you a way to deal with unexpected expenses, better plan your retirement, or
Compass partners with Guaranteed Rate to launch OriginPoint mortgage services
July 19, 2021 by
Tech-powered real estate brokerage Compass has officially entered the mortgage business. The company has announced it’s forming a new mortgage origination firm in partnership with Guaranteed Rate Inc. Compass, which is best known for its technology tools that assist real estate agents in marketing themselves and their listings online, wants to expand its business by
Homeowners are NOT Using Second Mortgages
July 16, 2021 by
One intuitive conclusion about the tight inventory of houses for sale is that the amount of equity owners have in their homes has been rising for several years. Long-term ownership, along with rapid price appreciation, results in homeowners having ten and hundreds of thousands of dollars of wealth built up as home equity. But you
Spike in foreclosures is unlikely, analysts say
July 8, 2021 by
Forbearance programs for federally backed mortgages are rapidly coming to an end, but the National Association of Realtors has said its research shows that there won’t be a glut of foreclosed homes hitting the market, as some had warned. The national forbearance moratorium will end on July 31, but most homeowners are expected to end
