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FHFA to allow desktop appraisals permanently

By Mike Wheatley | October 21, 2021
The Federal Housing Finance Agency has opted to make desktop appraisals permanent, having first introduced them as a temporary measure in March 2020. Desktop appraisals, as the name suggests, are an appraisal of a home’s value that’s done entirely at the appraiser’s desk. So there’s no traveling to the home, no inspection, no measuring. Rather, […]
Mortgage, Real Estate

Many homeowners regret not refinancing earlier, survey finds

By Mike Wheatley | May 6, 2021
A large number of homeowners have expressed regret that they missed out on the 2020 refinancing wave, which saw many take advantage of record-low interest rates to reduce their monthly mortgage payments. A new survey from LendingTree found that 36% of homeowners who missed the chance to refinance say they regret not doing so. Many […]
Mortgage

Report: Refinance is helping to prevent foreclosures

By Mike Wheatley | December 15, 2020
CoreLogic says its research shows that low mortgage rates are helping to keep elevated delinquencies in check. “Our analysis of CoreLogic public records shows that more than one-half of all home mortgage loans created since the onset of the pandemic have been no-cash-out refinance," Frank Nothaft, chief economist at CoreLogic, told Mortgage News Daily. "By […]
Mortgage, US Real Estate

Black Knight: More than 19 million could benefit from refinancing

By Mike Wheatley | December 3, 2020
With mortgage rates still at record lows, many homeowners are in a position to save hundreds of dollars a month on their mortgage payments. Black Knight, a mortgage technology and data provider, said this week that it believes a record number of homeowners – some 19.4 million in all - are now eligible to refinance […]
Mortgage

Study finds that 75% of homeowners could reduce their mortgage payment through refinancing

By Mike Wheatley | September 17, 2020
With the 30-year fixed-rate mortgage at an all-time low, the pool of homeowners that could benefit from refinancing and lower their monthly mortgage repayment has increased dramatically, experts say. In fact, some 75% of homeowners, or around 19.3 million, could benefit, according to data from mortgage software and analytics firm Black Knight. That's the largest […]
Mortgage, Real Estate

HUD rule changes make it harder to obtain a cash-out refinance loan

By Mike Wheatley | August 6, 2019
The Department of Housing and Urban Development last week imposed limitations on cash-out refinances that will make it more difficult for homeowners to cash in on the equity they’ve built up in their homes. The HUD said on Thursday it’s lowering its loan-to-value requirements for cash-out refinances from 85% to 80%. The move means that […]
US Real Estate

Wise and Not So Wise Refinancing Choices

By Brian Kline | July 9, 2019
With homes steadily and rapidly appreciating in value for several years, refinancing is alive and well, even if it isn’t in the news very frequently. A blast form the past - cash-out refinancing peaked in 2006, when homeowners cashed out $320.5 billion in total home equity volume, according to Freddie Mac’s Cash-Out Refinance Report. Then the […]
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