DSNews By: Brian Honea Since a borrower’s credit score influences a lender’s decision on whether or not to give that borrower a single family mortgage loan, the importance of having a good credit score when buying a home cannot be underestimated, according to Freddie Mac’s blog on Monday. According to Freddie Mac, the best […]
DSNews By: Author: Brian Honea January 27, 2015 Federal Housing Finance Director (FHFA) Mel Watt, testifying before the House Financial Services Committee, which he once sat on as a Democratic U.S. Representative for North Carolina, insisted that mortgage loans with a 3 percent down payment backed by GSEs are no more riskier than those with a […]
DSNews: Author: Brian Honea January 26, 2015 Approximately half a million homeowners who received a mortgage loan modification in 2010 through the government’s Home Affordable Modification Program, commonly known as HAMP, are due to reset in 2015 – and those homeowners will be facing slowly increasing monthly mortgage payments. Will these homeowners be able to […]
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 […]
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 […]
DSNews, BY: Carrie Bay, 1/07/2014 The performance of first-lien mortgages serviced by large national and federal savings banks continued to improve in the third quarter of 2013, reports the Office of the Comptroller of the Currency (OCC). It marked the fourth consecutive quarter the agency has recorded greater loan performance among regulated entities. The regulator’s latest report […]
DSNews BY: Ashley R. Harris 1/2/2014 The HOPE NOW Alliance recently announced that an estimated 50,000 homeowners received permanent, affordable loan modifications from mortgage servicers during October 2013. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). “As HOPE NOW begins to wind down 2013 activities and head into a seventh year […]
DSNews, BY: KRISTA FRANKS BROCK It’s no secret underwriting standards have tightened in recent years, and while many decry the heightened standards for making homeownership less accessible to some Americans, CoreLogic economist Sam Khater pointed out in a report released Wednesday that heightened standards are undoubtedly impacting delinquency rates for the better. “While there has been much […]
News from Kimber White, Chair and Legislative Liaison October 1…Government Shutdown in Effect…Now What? Federal agencies are preparing for a shutdown of large portions of the government that would become effective beginning October 1, 2013. The information outlined below addresses the impact on the mortgage industry: HUD / FHA: The FHA should not be […]
