The results of a new survey conducted for NeighborWorks America suggest that student loan debt is an obstacle for a growing share of potential homebuyers. The congressionally chartered organization with a focus on housing counseling also found confusion among potential homebuyers regarding the mortgage market. Some 57 percent of respondents said student loan debt was an obstacle to purchasing a home, up from a 49 percent share last year. The survey involved 1,000 adults. And 76 percent of respondents with student debt said the homebuying process is complicated, up from a 70 percent share in 2014. The greatest obstacle for potential homebuyers continues...
The former CFPB official said non-W-2 borrowers – like the self-employed, retirees and people with seasonal income – account for 30 to 40 percent of applicants for jumbo mortgages...
It appears that lenders were encouraging their loan officers to get applications in before the Oct. 3 implementation of the new RESPA-TILA integrated disclosure rule.
When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”
The flow of FHA purchase mortgages jumped 37.7 percent from the second to the third quarter, and VA purchase mortgages rose 37.9 percent over the same period.
Movement's attorney declined to identify the lender's MSA partners, but said “no enforcement action” was taken against the privately held company, which was started in 2007 by former NFL player Casey Crawford.
In his rebuttal to the IG’s findings, FHFA acting deputy director of conservatorships, Bob Ryan, concurs with some of the IG’s recommendations but takes issue with other aspects of the report.
Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.
RSS