Banks Start To Loosen Up In Underwriting

  After a half-decade of tightening mortgage guidelines, banks are starting to “loosen up”. The Federal Reserve conducts a quarterly survey of its member banks and, last quarter, not a single responding bank reported having tightened its mortgage guidelines for prime … [Read more...]

Is An FHA Mortgage Better Than A Conforming One?

The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. ”Going FHA” is more common than ever before — but is it better? The answer — like most things … [Read more...]

Get Your Applications In : FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011

After this week ends, the FHA is raising mortgage insurance premiums on its new borrowers. It’s the FHA’s third such increase in the last 12 months. Beginning with FHA Case Numbers assigned April 18, 2011, mortgage insurance premiums will be higher by 25 basis points per year, or … [Read more...]

Bank Mortgage Lending Policies Appear To be Easing

The tightening in mortgage-lending policies that characterized the last 3 years appears to be slowing. According to the Federal Reserve’s quarterly survey of senior bank loan officers, roughly 1 in 10 lenders added mortgage qualification hurdles between April and June. It’s a huge departure … [Read more...]

Yes, You Can Still Get A Mortgage If You’re Pregnant

The New York Times ran an important story this week concerning pregnancy and mortgage approvals. Titled “Need a Mortgage? Don’t Get Pregnant“, the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing. NBC’s The Today … [Read more...]

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