The Federal Housing Administration recently announced that it is extending some of its pandemic-driven rule changes on appraisals until at least the end of the year. Here are the details.
Fannie Mae is warning the housing industry that there are some questionable sources of income appearing on mortgages. The GES's Mortgage Fraud Investigations unit issued an alert in October stating that it has uncovered some 'borrower income concerns' on loans originated by third-party originators in Southern California.
Given everything that's going on in the world these days, predictions about what's going to happen in the next year should be taken with a grain of salt. However, one area where things seem to be relatively stable is the nation’s housing ecosystem. In that spirit, here's a look at the hottest housing markets for the next 12 months.
If you've been following the news lately, you may know that mortgage rates are just about as low as they've ever been. And that may have you thinking about refinancing your mortgage.
The housing industry has just over a month to get ready as Federal Housing Finance Agency Director Mark Calabria reiterated last week that Fannie Mae and Freddie Mac will implement a 50-basis-point fee on certain refinances on Dec. 1, 2020.
The piece of federal lending law that allows borrowers whose mortgages are sold to Fannie Mae and Freddie Mac to have a higher debt-to-income ratio than other types of qualified mortgages was all set to expire on Jan. 10, 2021. But that's not the case anymore.
For years, lenders across the country used the automated underwriting systems of Fannie Mae and Freddie Mac to speed up their origination process. Meanwhile, the process for Federal Housing Administration loans was a bit different. Things are about to change.
A mortgage pre-approval is the result of a process where a lender will look at your financial situation to figure out if you are a good candidate for a mortgage.
It's pretty safe to say that this year has been an unprecedented one, for both the country as a whole and the nation's housing economy. Even though the U.S. has been in the full throes of a pandemic for seven months, the nation’s housing market has arguably never been hotter. But what happens next? Here's a look at experts' predictions for the rest of the year.
California will soon have its version of the Consumer Financial Protection Bureau, as the state recently enacted a new law that 'significantly expands the state's ability to protect Californians against abusive and predatory financial products and services.'
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