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Mortgage

A Guide to Finding Mortgage Savings

Many borrowers are paying more than they need to for a mortgage because they didn’t shop around for lenders enough, according to a new study released by the Consumer Financial Protection Bureau. In response, CFPB is releasing an interactive online toolkit called “Owning a Home,” which aims to help consumers […]

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FHA Fee Cuts Likely to Lure More Buyers

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Last week, the Federal Housing Administration announced it will cut its annual mortgage insurance premiums,¬†likely resulting in about $900 in savings for borrowers and potentially opening the door to thousands of new buyers. But there are no further FHA fee reductions under consideration, Julian Castro, secretary of the U.S. Department […]

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Blame Banks, Not Borrowers

In an editorial this Sunday, The New York Times blasted those who warn of a new foreclosure crisis stemming from the recent loosening of credit standards for cash-strapped borrowers. The editorial board said that the oft-cited misconception that many who lost their homes in the foreclosure crisis were not ready […]

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Mortgage Changes for 2015

GSE’s Detail Low Downpayment Program On December 8, 2014, Fannie Mae and Freddie Mac released details on new mortgage product offerings that will provide access to qualified borrowers able to put down at least 3%.¬† Both of the entities will require lenders to use automated underwriting systems to ensure borrowers […]

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3% Down Payment May Be Game Changer

Mortgage giants Fannie Mae and Freddie Mac announced Monday that first-time home buyers can now qualify for loans with down payments as low as 3 percent. That will expand credit for qualified home shoppers who may have been sidelined the last few years because of higher down-payment requirements, housing analysts […]

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