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  • 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 […]
  • Money Magazine says Reverse Mortgage is Good Idea
    According to a recent article in Money Magazine, you don’t need fancy financial products to stretch your retirement savings. In fact, most Americans have access to the best retirement income generator around: Social Security, according to a recent report.Researchers at the Stanford Center on Longevity, in collaboration with the Society of Actuaries, analyzed 292 different […]
  • Buyers face rising rates heading into spring housing market
    As per CNBC the 30 year fix rate is rising steadily since the beginning of this year especially this week .Price is up to 6.8 % nationally and close to double digit in some local market. The supply  crisis is a big chunk of that biting words are actually the rule now, but a lot […]
  • How to Educate Financial Advisors About the New Reverse Mortgage
    As per Reverse Mortage daily, for the last several years, there has been a major industry-wide push to spread awareness among the financial advisor community about how reverse mortgages can be a powerful tool in retirement planning. But recent changes to the product that lower principal limits and change mortgage premiums have some worried that […]
  • What are the Major HMDA related changes and When Do They Go into Effect?
    A number of things are changing with the new rule that impacts process, workflow, and fields. The amount of data collection required is significantly increasing, above and beyond the original Dodd Frank mandate. The way you report that data is changing as well, with HELOC and Denial Reasons moving from optional submissions to required data […]
  • HMDA Data - what it includes
    What are HMDA data? HMDA data cover home purchase and home improvement loans and refinancings, and contain information about loan originations, loan purchases, and denied, incomplete or withdrawn applications. With some exceptions, for each transaction the lender reports data about: • the loan (or application), such as the type and amount of the loan made […]
  • Happy New Year - HMDA Primer
    As we begin a new year - thought we might be able to start with an article about a topic that is going to be talked about a lot in 2018 as a result in changes made to Dodd-Frank. So, what is the Home Mortgage Disclosure Act (HMDA)? HMDA, enacted by Congress in 1975, requires […]
  • Mortgage rates rise slightly, but a bigger increase is possible
    Mortgage rates ticked up this week, but a larger rise is possible next week depending on what Congress does about tax reform and the budget.30-Year FRM15-Year FRM5/1-Year ARMAverage Rates3.94%3.36%3.35%Fees & Points0.50.50.3MarginN/AN/A2.75The 30-year fixed-rate mortgage averaged 3.94% for the week ending Dec. 7, up from last week when it averaged 3.9%, according to Freddie Mac. A year ago […]