Category Archives: Mortage

Mortgage rates break holding pattern and drop…

While still higher than last year, mortgage rates have broken their holding pattern and dropped, according to Freddie Mac. Click on link to read more Mortgage rates drop

Posted in Fannie, Freddie Mac, Interest rates, Lending, Mortage | Tagged , , , | Comments Off

How will the outcome of the election affect housing reform?

No one knows…not really.  President-elect Donald Trump didn’t say much over the past 18 months regarding the mortgage industry and housing reform.  What this means is we don’t really know what to expect.  We do know that the GOP has control … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage, TRID | Tagged , , , , | Comments Off

Interest rates are down but so is available credit

While we are seeing all time low interest rates, we aren’t seeing the expected increase in loan volume. The tighter rules and regulations tied around obtaining a loan is making it more difficult for a consumer to take advantage of … Continue reading

Posted in CFPB, Lending, Mortage, TRID | Tagged , , , , , , , | Comments Off

Fannie and Freddie lower mortgage modification interest rates

Beginning May 13, Fannie Mae and Freddie Mac will lower the standard modification interest rate from 3.75% to 3.625%, the lowest it has been since the program began in 2012.  To read more click http://www.housingwire.com/articles/36987-fannie-mae-freddie-mac-mortgage-modification-interest-rate-falls-to-new-record-low

Posted in Fannie, Lending, Mortage | Tagged , , , , , , | Comments Off

Freedom Mortgage buys USDA origination business from Chase

JPMorgan Chase is selling their rural housing business to Freedom Mortgage in an attempt to simplify their mortgage business. Full article can be found at JPMorgan sells USDA business to Freedom Mortgage

Posted in Lending, Mortage | Tagged , , , , , , , | Comments Off

Common TRID errors sent to the CFPB

In a recent letter to the CFPB’s Director Cordray, the Association of Mortgage Investors shed some light on some of the common mistakes that have come about from TRID.    The letter addressed industry concerns over mistakes being made, albeit minor mistakes, … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage, TRID | Tagged , , , , , , , , , , , , , | Comments Off

CFPB’s complaint department is very busy these days…

According to the 7th volume of the CFPB Monthly complaint report for December 2015 released on Thursday, the bureau has received 790,000 complaints since opening it’s doors in 2011.  Of the 790,000 complaints 209,618 of them were specific to mortgages. Click on the link … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage | Tagged , , , , , , , , , | Comments Off

Good news for homebuyers. Freddie Mac: Mortgage rates drop four consecutive weeks

The 30-year fixed-rate mortgage averaged 3.79% for the week ending Jan. 28, 2016, down from 3.81% last week, but up from 3.66% a year ago. Additionally, the 15-year FRM this week decreased to 3.07%, falling from 3.10% a week prior. … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage | Tagged , , , , , , | Comments Off

Foreclosure filings drop to a nine year low

Good news for the real estate industry.  RealyTrac reported that default notices, scheduled auctions and bank repossessions were reported on 1,083,572 U.S. properties in 2015, the lowest annual total since 2006, when there were 717,522 properties with foreclosure filings nationwide. “In … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage | Tagged , , , , , , , , , | Comments Off

Recent survey reports mortgage lenders not prepared for August 1, 2015

41% of mortgage lenders reported that they are not ready for the TRID August 1, 2015 deadline.  The figure is a result of a recent survey conducted by Capsilon Corp. at the recent Mortgage Bankers Association’s National Technology in Mortgage … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage | Tagged , , , , , , , , , , , | Comments Off