With the stock market suffering major losses the past 10 days, investors in equities are bleeding red ink, but mortgage bankers are salivating at the prospect of higher application volumes thanks to declining interest rates. “We’re at the tail-end of the home-buying season when volume drops, but my members are anticipating an increase in refis,” said Glen Corso, executive director of Community Mortgage Lenders of America. The newfound optimism comes courtesy of China ...
The FHA late this month announced a new tool to supplement Neighborhood Watch’s compare ratio to give lenders a better sense of their performance and, at the same time, ease concerns about lending to higher-risk borrowers. FHA lenders welcomed the long-anticipated performance metric although concerns linger about lender liability. Nonetheless, for The Collingwood Group, a Washington, DC-based advisory firm, the question is whether the tool represents a ...
“The most common example is a loan program for self-employed borrowers that relies on bank statements, rather than tax returns, to determine income,” Fitch said.
“More people want to take care of their student loan debt before getting into even more [debt] with a mortgage," said Rick Sharga, executive vice president of Auction.com.
RSS