The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency surprised the mortgage business Tuesday evening when they announced that banks will soon be able to postpone getting an appraisal for…
Federal regulators this week adopted an interim final rule deferring the requirement for banks to get appraisals on properties until up to 120 days after a mortgage is closed. The change was announced by the Treasury Department’s Office of the Comptroller…
Mortgage rates were stable to lower this week as the coronavirus pandemic continues to slow all aspects of mortgages underwriting and home buying. The benchmark 30-year fixed-rate mortgage stayed flat at 3.58 percent, according to Bankrate’s weekly survey of large lenders.…
It's a good time to make sure you are maintaining good credit and protecting your financing position. As the country struggles through the economic impact of the coronavirus, numerous mortgage companieshave raised their lending standards to protect both borrowers and…
If you're on the fence about purchasing a home or re-financing with cash-out (and you have good credit and a steady 2 year work history), now might be the time to act. Give me a call today at 949-456-7056 to…
Standards for home loans are tightening by the hour as companies like United Wholesale Mortgage, the nation’s largest wholesale lender, beef up rules to ward off early defaults from people losing jobs because of the COVID-19 pandemic. Almost 14 million…
While some in the housing industry are expecting mortgage delinquencies to climb to 20% or more due to the impact of the coronavirus, Federal Housing Finance Agency Director Mark Calabria said he feels the figure will be much lower than…
If you need a qualified realtor, I can refer one in your area. Please contact me at jrod@ifminc.com. Redfin announced it would be reducing its number of employees by approximately 7%, according to the company’s filing with the Securities and…
From shopping for a mortgage and looking for a real estate agent to touring homes and signing the real estate closing documents, the process to buy a home has long been an in-person transaction. Despite massive competition in the industry…
With a record number of people suddenly unemployed due to the impact of the coronavirus on the nation, the government is taking steps to allow some borrowers to pause their mortgage payments for six months or longer. The Department of…
