While plans to privatize the mortgage giants are on the back burner, Trump administration may impose limits on how much support the mortgage giants can provide to riskier borrowers. Continue reading
Los Angeles Police Federal Credit Union (LAPFCU) expands its service area and membership base to include municipal, county, state and federal law enforcement agencies in 10 counties Continue reading
Moderating mortgage rates and lessening buyer competition have pushed the U.S. median down payment down 7.33 percent over the past year, according to Realtor.com. Continue reading
According to Redfin, the typical U.S. homebuyer’s down payment hit the highest level in over a decade, at 18.6 percent of the purchase price in June, up from 15 percent the previous year. Continue reading
FHA premium cuts spur growth, but borrowers with stellar credit can still do better taking out conventional Fannie Mae- or Freddie Mac-eligible mortgages with private mortgage insurance. Continue reading
NFM Lending is the first to take advantage of Knock API integrations, which let loan officers know if homebuyers can tap the equity in their existing home and buy before they sell. Continue reading
Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading
Thirty-six percent of Gen Zers and millennials who plan to buy a home in the near future intend to use a cash gift from family to contribute to a down payment, according to data from Redfin released Wednesday. Continue reading
Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums. Continue reading
Available everywhere except New York, loanDepot’s new “accessZERO” program provides a down payment of up to 5 percent in the form of a 10-year fully amortized second mortgage. Continue reading