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Articles relating to "Mortgages":

CoreLogic: Mortgage fraud on the rise (9/20/2017)
There was an indication of mortgage fraud on an estimated 13,404 applications for single-family loans during 2Q, or almost 1% of all residential loan applications.

FHA allows transactions to proceed with immediate reinspection (9/20/2017)
FHA loans require a post-disaster inspection in declared catastrophe areas, but a rule that could delay closings is waived.

Wells Fargo sued over rate lock-in fees (8/31/2017)
Class-action lawsuit allegation: Wells Fargo failed to process mortgage applications fast enough, and then charged buyers if their rate-locks had to be extended.

HUD raising up-front fees for reverse mortgages (8/30/2017)
According to HUD, younger, lower-income homeowners with traditional FHA-insured loans are bailing out its money-challenged reverse mortgage program.

Fannie loosens ARM downpayment rules (8/29/2017)
Borrowers using an ARM can make just a 5% downpayment on a single-family residence that’s the primary home; they also need only 5% equity to refinance an ARM.

U.S. home prices surge in June, led by Seattle (8/29/2017)
S&P’s CoreLogic Case-Shiller 20-city home price index rose 5.7% in June. Price gains are eclipsing income growth, creating affordability pressures for buyers.

Some owners should consider a mortgage ‘recast’ (8/25/2017)
With a recast, the owner came into money – perhaps after his first home sold – that he then applies to his current loan to lower his monthly payments.

Jumbo loans get less expensive (8/25/2017)
The interest rate for jumbo loans – those greater than $421,100 – dropped last week to an average 3.99% – 13 basis points lower than the conforming rate.

Some lenders will stop requiring traditional appraisals (8/22/2017)
For Freddie Mac mortgages, its Automated Collateral Evaluation (ACE) will crunch all available data and decide if an application requires a full appraisal or an automated one. If automated works, the buyer will save time and money.

FHA mortgage insurance: What buyers should know (8/22/2017)
With FHA lending, it’s not just about the monthly mortgage payment. Homeowners must also pay for an insurance policy that protects the lender if they default.

It’s getting easier to qualify for a mortgage (8/8/2017)
For mortgage lenders, it’s about competition. They see rising home prices and more qualified buyers, so they’re easing standards to attract more business.

Freddie Mac to restrict 1% downpayment mortgages (8/2/2017)
While Freddie takes 3% down loans, some lenders “granted” 2% to borrowers and sold mortgages as 1% down loans – a tactic Freddie says it won’t allow after Nov 1.

Consumers cast doubt on mortgage servicers (8/1/2017)
J.D. Power survey: Mortgage servicers care more about profits than people, according to an increasing number of borrowers. Quicken Loans topped the favorable list, however, though some non-traditional servicers scored a bit higher.

CFPB clarifies rule: Agents may see Closing Disclosure (7/11/2017)
The federal consumer bureau says it’s okay for lenders to share buyers’ closing disclosure with agents, and it’s announcing soon the how-to-do-it details.

Sept. bond sales could impact FRM rates (7/5/2017)
The Fed bought a lot of bonds during the housing crisis, and if officials start selling them in Sept., the Fed could postpone interest rate increases for a bit.

Survey: More lenders expected to ease credit standards (6/26/2017)
According to Fannie Mae’s 2Q survey, more mortgage lenders say they’ve eased credit standards recently, and they expect further easing in the coming months.

CoreLogic: Mortgage credit risk edges up slightly (6/20/2017)
CoreLogic Q1 Housing Credit Index: The HCI rose 3.6 points to 105.6, up from Q1 2016; but the credit risk level remains nearly the same as the “normal” baseline.

The zero-down loan? It’s making a comeback (6/16/2017)
Some experts said no-downpayment mortgages led to the housing crisis, but some lenders are starting to offer them again anyway.

CoreLogic: Mortgage delinquencies dropped to a 10-year low in March 2017 (6/13/2017)
CoreLogic: Nationally, 4.4% of mortgages were in some stage of delinquency in March, dropping from an overall delinquency rate of 5.2% a year ago.

House votes to repeal key aspects of Dodd-Frank (6/12/2017)
Under the new bill, known as the Financial CHOICE Act, big banks would face less scrutiny and many of the regulatory powers of the Consumer Financial Protection Bureau would be stripped. It now heads to the U.S. Senate.

Fannie to loosen mortgage requirements (6/9/2017)
On July 29, Fannie Mae will raise its debt-to-income ceiling from 45% to 50%, making it possible for a larger number of new buyers to qualify for a mortgage.

CoreLogic: More homeowners have regained equity (6/8/2017)
9M U.S. borrowers have regained equity since the 2011 height of the mortgage crisis; an average homeowner gained about $13.4K in equity from Q1 2016 - Q1 2017.

Survey: Wannabe homebuyers aren’t saving enough (6/7/2017)
Apartment List: 80% of millennials want to one day buy a home, but 36% think they’ll have to wait more than 5 years; 16% believe they’ll be able to buy in 2 years.

Move-up buyers? The bridge loan is back (6/5/2017)
Details vary by lender, but a bridge loan allows a homeowner to buy a new home before selling his current home. Under a new version announced by Third Federal, the owner’s existing home payment is eliminated during the process.

Downpayment help with a catch: A claim on equity (5/31/2017)
Trending: More startups, such as Unison and OWN Home Finance, are offering to help buyers with a downpayment in exchange for a stake in their home’s future equity. However, interested buyers should carefully read the fine print.

HUD, FEMA announce goals to Realtors in Washington (5/17/2017)
HUD Secretary Carson told Realtors at the Realtors Legislative Meetings & Trade Expo that he plans a new era of homeownership, saying HUD will address FHA restrictions on condo lending. FEMA announced a goal to double flood ins. coverage by 2023.

Should FHFA crack down on rent-to-own? (5/16/2017)
Some groups want the Federal Housing Finance Agency to regulate investment firms that sell run-down foreclosures “as is” through some type of seller financing.

Borrowers lost homes to Ocwen, lawsuits say (4/21/2017)
The CFPB, Fla. and 20 other states are suing Fla.-based Ocwen Financial and halting certain operations for “numerous violations of Federal consumer financial laws.”

Mortgage lenders optimistic about 2017 (4/12/2017)
Survey: Independent lenders believe Gen X and millennials offer growth opportunities. The expect more jumbo loans and buyers who plan to make rental money.

More mortgage approvals = more mortgage fraud (3/27/2017)
A major fraud index found that mortgage “defects” – fraud and misrepresentation – rose 4.1% in Feb. But overall, the rate is down 25.5% compared to 2013.

Study: It’s taking less time to close (3/21/2017)
Closing times dropped way down last month, falling from 51 days in Jan. to 46 days in Feb., according to the latest Ellie Mae Origination Insight Report.