DSNews Author: Brian Honea December 11, 2014 The majority of mortgage industry professionals said they believed that the lowering of the down payment to 3 percent for first-time home buyers by Fannie Mae and Freddie Mac was a step in the right direction for the housing market, according to Collingwood Group‘s November 2014 Mortgage Industry […]
Category: Mortgage
Nearly 70 Percent of Industry Professionals See Lower Down Payment As Positive
Author: Brian Honea December 11, 2014 The majority of mortgage industry professionals said they believed that the lowering of the down payment to 3 percent for first-time homebuyers by Fannie Mae and Freddie Mac was a step in the right direction for the housing market, according to the Collingwood Group‘s November 2014 Mortgage Industry Outlook Report […]
GSEs Officially Lower Down Payment to 3 Percent for Qualifying First-Time Homebuyers
DSNews Author: Brian Honea December 8, 2014 Following months of talk and speculation, bothFannie Mae and Freddie Mac announced on Monday they will begin allowing qualifying first-time borrowers to purchase homes with just a 3 percent down payment. By lowering the down payment down to 3 percent, leaders from the GSEs and the Federal […]
Mortgage Delinquency Rate Predicted to Fall by End of 2015
DSNews Author: Brian Honea December 10, 2014 Mortgage Delinquency Rate Predicted to Fall to Pre-Recession Level by End of 2015 The nation’s mortgage loan delinquency rate is expected to fall down to 2.51 percent by the end of 2015, its lowest level since prior to the housing bust, according to data released […]
Should you pay off your mortgage when retiring?
BY: Rodney Brooks, Coloradoan November 5, 2014 It was different back in the day. You worked 30 years, got a watch and a pension. Your health care was probably provided by your company’s retiree insurance plan, or even your union. And a highlight of retirement was the ceremonial burning of the mortgage […]
FHA Program Aims to Expand Credit; Lower Risk
DSNews BY: Colin Robins May 13, 2014 The Federal Housing Administration (FHA) issued its “Blueprint for Access,” which aims to expand credit access for underserved borrowers by utilizing housing counseling as a means to reduce the possibility of loans becoming seriously delinquent. The announcement highlights a new pilot program, Homeowners Armed with Knowledge (HAWK), which […]
Florida’s Housing Market Is On the Rise
DSNews BY: Paul Salfen April 23, 2014 More good news has surfaced in the housing market, this time in Florida. According to Florida Realtors, the housing market reported higher median prices, more new listings, and a stable level of inventory in March. Closed sales of single-family homes statewide totaled 20,081 last month, up 2.8 […]
CFPB to Launch eClosing Pilot Program
DSNews BY: Colin Robins April 24, 2014 In an effort to create a more consumer-friendly environment, the Consumer Financial Protection Bureau(CFPB) has announced a new pilot program, centered specifically on gathering data from partners using electronic closings (eClosings) to complete mortgages. In a document outlining the program, the CFPB believes, “[T]here may be opportunities […]
Mortgage Delinquency Rate Continues to Drop
DSNews BY: Colin Robins May 7, 2014 The mortgage delinquency rate declined to 3.61 percent at the end of the first quarter of 2014, according toTransUnion’s latest mortgage report. Overall, the mortgage delinquency rate has dropped 24 percent in the last year, and has experienced nine consecutive quarters of decline. Currently, the rate is […]
Credit Standards Stay Put for Prime Mortgage Products
DSNews BY: Tory Barringer May 6, 2014 A newly released survey of senior loan officers around the country finds credit standards remained largely the same on basic prime mortgage products over the latest quarter, while demand came in weaker. According to the Federal Reserve’s Senior Loan Officer Opinion Survey, released Monday, 14.3 percent […]
