Mortgages

The Next Job Humans Lose to Robots: Real Estate Appraiser

Written on July 11, 2017 at 4:10 pm

Advances in big data at Zillow and elsewhere are helping automation creep into knowledge-based professions.  (July 11, 2017: by Joe Light, Bloomberg) Read more. Read More...

Mortgage rates plunge below 4% as investors flee the ‘Trump trade’

Written on April 21, 2017 at 11:24 am

Rates for home loans lurched lower, sending the benchmark below the key 4% threshold for the first time in six months, Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.97%, down 11 basis points during the week and below 4% for the first time since Nov. 17. The 15-year fixed-rate mortgage averaged 3.23%, down  Read More Read More...

Federal Watchdog Agency Steps Up Inquiry Into Home Contracts

Written on November 15, 2016 at 9:58 am

The Consumer Financial Protection Bureau, the nation’s top consumer watchdog, is stepping up an investigation into seller-financed home sales that target lower-income home buyers unable to get a traditional mortgage. Source: New York Times, ALEXANDRA STEVENSON and MATTHEW GOLDSTEINNOV. 14, 2016. Read more. Read More...

A RISE IN NON-FHA SOLUTIONS FOR LOW-VALUE HOMES

Written on November 15, 2016 at 9:54 am

Along with FHA, a little known financing instrument called a contract for deed have helped low-credit borrowers, according to Daren Blomquist with RealtyTrac. Read more, Source: Builder News, November 10, 2016) Read More...

Banks No Longer Make the Bulk of U.S. Mortgages

Written on November 3, 2016 at 10:01 am

Taking their place are nonbank lenders more willing to make riskier loans banks now shun.  Six of the top 10 mortgage lenders by origination volume were nonbanks as of September, up from four for all of 2015 and two in 2011.  Banks no longer reign over the U.S. mortgage market. They accounted for less than half  Read More Read More...

This Is the Salary You Need to Buy a Home in U.S. Cities

Written on September 20, 2016 at 6:34 pm

In the market for a new home? Whether you’re dreaming of owning your own property one day or are actively searching for new digs, the ability to plan your finances is essential—and can seem like a minefield. Mortgage website HSH has tallied all the confusing financial data to find out the exact salary you need to earn to  Read More Read More...

Thousands of ‘Underwater’ Borrowers to Get Relief

Written on April 15, 2016 at 1:48 pm

WASHINGTON — [April 14, 2016]  The Federal Housing Finance Agency said on Thursday that it would move to reduce the loan balances for thousands of borrowers who owe more than their homes are worth.  New York Times article.  Read more.  Read More...

House Committee Passes Bills to Delay TRID Enforcement, Revise QM

Written on July 30, 2015 at 6:29 pm

JUL 29, 2015 5:57pm ET, WASHINGTON — The House Financial Services Committee approved a bill that would delay the Consumer Financial Protection Bureau’s enforcement of the new TILA-RESPA integrated disclosure rules. It also approved two additional bills addressing the qualified mortgage rule and GSE executive compensation.  Source: National Mortgage News, BY JOHN HELTMAN, read full article here. Read More...

Challenges Loom for Real Estate Industry, NAR Report Finds

Written on May 26, 2015 at 5:17 pm

The real estate sector faces a host of challenges that will require professionals in all facets of the industry to become more adaptable and agile in the coming years in order to remain relevant and competitive, according to a newly released report commissioned by the National Association of REALTORS®. Concern about the erosion of the importance  Read More Read More...

56 Percent of 3.3 Million HELOCs Scheduled to Reset With Higher Rates in Next Four Years Are on Underwater Homes

Written on March 5, 2015 at 5:33 pm

IRVINE, Calif. – March 5, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its first-ever U.S. HELOC Resetting Report, which found that 56 percent of the 3.3 million Home Equity Lines of Credit potentially resetting with higher, fully amortizing monthly payments from 2015 to 2018 are on properties that are seriously  Read More Read More...