Mortgage Rules Change Credit Evaluations

As I have said many times, mortgage rules, regulations, guidelines, denials, and approvals of mortgage loans change almost every day. Everyone in mortgage lending has experienced the latest TRIAD changes in 2015, with a lot of anticipation and wow. Thinking now, here we go again, another change. As you known in mortgage lending there are … Read more

Big Banks & Lenders Buying & Selling- Reluctant to Make FHA/VA

As of July 24th, news has it that big banks are shying away from FHA/VA loans.  They claim that these are weaker products with more claims than the conventional loans.  Is it true?  Yes, from an underwriter’s point of view; there could be something to that. Here is why: FHA and VA will take lower credit scores and … Read more

Mortgage Changes Continue

If you are in mortgage lending then you know how June played out for your organization.  It seems that credit loosened, maximum loan to values are higher; per articles I have read, and rates have also dropped.  Rate have not crumbled; they are fluctuating probably by .125% or .250 and doubt there is much over … Read more

Home Affordable Refinance Program Update 11/15/11

  The Federal Housing Finance Agency (FHFA) has announced the extension of the Home Affordable Refinance Program (HARP) until December 31, 2013; therefore any loan originated on or before this date in the Refi Plus program is eligible for these new features. The FHFA has also made changes to the Home Affordable Refinance Program (HARP) … Read more