Joe Biden Is a Refinancing Machine
Though HARP is often referred to as “Obama’s refinance program,” perhaps Vice President Joe Biden’s name should be in there as well. Why? Because the… Read More »Joe Biden Is a Refinancing Machine
Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.
I’ve been covering the mortgage industry since 2006, at a time when scores of banks and lenders were closing their doors after some very big boom years.
In fact, you can see my ongoing list of mortgage layoffs and closures if you’re curious just how many companies didn’t survive that period.
Fortunately, the climate has improved considerably since then, despite a big uptick in mortgage rates lately.
This too has led to companies merging or folding entirely, though this time around due to a lack of volume as opposed to an increase in loan defaults.
I strive to write compelling mortgage news stories, whether it’s the top lenders for a given year, a novel mortgage product, new loan limits, or a big policy change.
You can see all my latest mortgage news posts below.
It Turns Out the Qualified Mortgage Rule Is Pretty Flexible
Rules are inherently restrictive, but if there’s one thing the mortgage industry does well, it’s circumvention. For example, taking what appears to be a pretty… Read More »It Turns Out the Qualified Mortgage Rule Is Pretty Flexible
All-Cash Home Sales Hit New High as Mortgage Rates Fall to 2014 Low
At first glance, the headline doesn’t make a lot of sense. Why would all-cash home sales increase if mortgage rates were hitting new lows for… Read More »All-Cash Home Sales Hit New High as Mortgage Rates Fall to 2014 Low
Real Estate Agent Leaves Nasty Note for Homeowner Who Parks Car on the Front Lawn
An interesting thing happened to a pair of Ocean City, New Jersey homeowners recently. Residents Bill and Barbara Doughten received an anonymous handwritten note from… Read More »Real Estate Agent Leaves Nasty Note for Homeowner Who Parks Car on the Front Lawn
Even Flippers Are Having a Hard Time Finding Homes to Buy
If you’re currently in the market to purchase a home, you’re probably pretty frustrated. After all, it has become increasingly difficult to find a property… Read More »Even Flippers Are Having a Hard Time Finding Homes to Buy
Mortgage Rates Will Only Be Marginally Higher If Fannie and Freddie Disappear
Everyone seems to agree that Fannie Mae and Freddie Mac need to go away. Well, maybe not the hedge funds that hold their stock. Nevertheless,… Read More »Mortgage Rates Will Only Be Marginally Higher If Fannie and Freddie Disappear
One in Four Homeowners Wouldn’t Buy Their Current Home Again If Given the Chance
Two words: Buyer’s remorse. Not a big deal when buying lunch, but a pretty huge deal when purchasing a home you don’t like. A new… Read More »One in Four Homeowners Wouldn’t Buy Their Current Home Again If Given the Chance
The 3% Down Payment Mortgage Has Returned
Well that didn’t take long. Only about six months after we bid adieu to 3% down mortgages, they have resurfaced. Just in time for the… Read More »The 3% Down Payment Mortgage Has Returned
The Nation’s Most Expensive Short Sale Finally Sold This Week
Sure, short sales have come to a relative crawl after carving out a decent slice of the real estate market over the past couple years,… Read More »The Nation’s Most Expensive Short Sale Finally Sold This Week
Higher FHA Premiums May Have Priced Out 375,000 Potential Home Buyers
Earlier this week, the National Association of Realtors sent a letter to FHA Commissioner Carol Galante urging her to rethink the agency’s new mortgage insurance… Read More »Higher FHA Premiums May Have Priced Out 375,000 Potential Home Buyers