The Federal Housing Finance Agency’s Office of the Inspector General recently audited Fannie Mae and Freddie Mac’s use of a web portal designed to decrease error in collecting appraisal data. Not surprisingly, the audit found that both government-sponsored entities are failing to use the portal properly. For example, in some situations for which the database […]
Read MoreRealtyTrac data shows that in 2013, investors who purchased a home with the intention of flipping it within six months made an average of $10k more from the flip than the numbers shown for 2012. If we were to look at these numbers alone, the first impression might be that home flipping for profit has […]
Read MoreNow that FHA’s loan limits are back to their pre-2008 numbers, getting an FHA mortgage might be quite a bit more difficult in certain areas of the country with above-average real estate prices. If you’re interested in how this “ceiling” is now calculated, you have to first understand how FHA determines the national loan limit […]
Read MoreIn a memo from the Department of Housing and Urban Development’s Housing Commissioner, HUD released the new Federal Housing Administration’s (FHA) maximum loan limits effective for all FHA loan applications received January 1, 2014 through December 31, 2014. While the decrease was expected in the industry, it could have a significant impact on real estate […]
Read MoreFor a lot of people, the mortgage process for buying their first home is grueling enough that they sigh “Never again!” and plan to simply live in the house until they die peacefully in their favorite chair. For others, refinancing a house is almost like a game of Lowest Rate Ever that they never get […]
Read MoreWith the housing market in recovery, finally, and many other economic indicators looking positive for the first time in years, many people who decided to rent and weather the storm are emerging back into the market and looking to purchase homes. But just because the housing market is stronger than it had been doesn’t mean […]
Read MoreWhile home prices in the country have seen a promising increase (more than 12% in the past year), HARP 2.0, one of the most popular refinance programs of the past few years, is seeing a decline in popularity. The reason for this is since the HARP 2.0 program allows for high loan-to-value (LTV) mortgages, and […]
Read MoreA recent Federal Reserve survey of domestic loan originators shows that out of more than 70 banks within the US, most are loosening their mortgage lending standards—more in the last quarter than at any time during the last 10 years. This survey, conducted once per quarter by the Federal Reserve, ascertains what the national lending […]
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