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  • Mortgage application volume falls to a four-year low
    As per National Mortgage News, Mortgage application activity dropped to its lowest level since December 2014 as interest rates reached an eight-year high, according to the Mortgage Bankers Association.The MBA's Weekly Mortgage Applications Survey for the week ending Nov. 2 had a 4% decline from one week earlier as the refinance index decreased 3% over […]
  • How to know your loan processor is the right one for you ?
    A mortgage loan processor is the link between a borrower, loan officer and the  underwriter in the context of a residential mortgage. And he or she is arguably the most important member of the team.The National Association of Mortgage Processors says, “The primary function of the Loan Processor is to ensure the timely and accurate […]
  • Is FHA Home Loan a good option for me?
    Is FHA Home Loan a good option for me?FHA, which stands for the Federal Housing Administration, is a United States government agency which insures home loans for FHA approved lenders.One of the best tips for buying a house is to fully understand all the financing options that are available to them.  As a buyer is […]
  • Mortgage application volume rebounds but refis fall to 18-year low
    Mortgage applications rose due to year-over-year progress in the job market, snapping a two-week skid. It was a 2.5% increase from the week prior, according to the Mortgage Bankers Association.The purchase application volume drove the overall numbers. The seasonally adjusted purchase index increased by 7% from one week earlier, however, it decreased by 15% on […]
  • VA Program Guidelines Update
    The President of the United States signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Act prohibits Ginnie Mae from guaranteeing securities issued on or after May 24, 2018, if such securities are backed by a refinance loan that is guaranteed under the United States Department of Veteran Affairs benefit program […]
  • Recruiting the Best Requires Commitment
    Top originators want companies to keep their promises and to reward good workTurnover in the mortgage industry is high, which leads to a variety of issues for both the employer and mortgage originators. Whether you are working for a large national or international bank or a small local  mort-gage company, people and relationships are vital […]
  • Non-QM a good catch?
    The mortgage industry is seeing a growing demand for non-qualified mortgages. These are typically quality loans that simply fall short of meeting the strict “qualified mortgage” standards set for loans that are purchased and secularized by the government-sponsored enter- prises Fannie Mae and Freddie Mac.The expanding popularity of non-qualified mortgages is a blessing for many borrowers […]
  • Trump’s Budget Would Lift Reverse Mortgage Cap, Bring Changes in ’19
    As per Reverese Mortgage , Once again, the Trump administration has proposed a permanent end to the cap on the number of reverse mortgages — while also hinting at additional changes to the Home Equity Conversion Mortgage program for fiscal 2019.“The Budget will again propose permanently lifting the cap of 275,000 loan guarantees to […]
  • December 2017 EHS Over Ten Years
    Every month NAR produces existing home sales, median sales prices and inventory figures. The reporting of this data is always based on homes sold the previous month and the data is explained in comparison to the same month a year ago. We also provide a perspective of the market relative to last month, adjusting for […]
  • Mortgage rates jump even higher after positive jobs report
    CNBC recently did an article about some of the changes the US economy has seen over the past few months. According to the report, the good news is Americans are making more money – because they're going to need it, especially people thinking about buying a home.While the just-released January employment report showed job growth […]