Lender creates and funds an escrow account that’s used to cover the difference between the full monthly mortgage payment and the payment with the reduced rate until the buydown expires. Continue reading
Affordability challenges will limit growth in home sales to 0.5 percent this year — to just 4.78 million — before surging to 5.19 million in 2025, according to the latest housing forecast from Fannie Mae economists. Continue reading
The Q2 earnings are in: From Zillow’s revenue boost to RE/MAX’s struggles, Jessi Healey breaks down who’s up and who’s down. Continue reading
Fannie Mae survey shows would-be homebuyers grew even more frustrated with elevated home prices and mortgage rates in July, but 7 in 10 didn’t think mortgage rates would come down. Continue reading
Concerns about fraud mean lenders who want to sell multifamily loans to the mortgage giants may be required as soon as this summer to do more due diligence on borrowers and their properties. 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
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck. Continue reading
Republican attorneys general in 14 states urge Fannie Mae and Freddie Mac’s federal regulator to kill a pilot program that allows some borrowers to refi without obtaining title insurance. Continue reading
As for-sale listings continue to surge, many would-be homebuyers are still having trouble finding properties that they can afford and prices are already coming down in some markets Continue reading
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven’t come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie Mae and Freddie Mac. Continue reading