The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by.
Underwriting guidelines are tightening.
The data comes from the Federal Reserve‘s quarterly survey to its member banks. The Fed asks senior bank loan officers around the...
A “Short Sale” is when a home seller sells his home for a lesser amount than what is owed on his mortgage, and the mortgage lender agrees to accept the lesser amount in lieu of a full payoff.
By way of example, a Short Sale may be appropriate for a home seller whose mortgage balance is...
Data was sparse through 2010′s first trading week last week, setting the stage for a week of momentum trading.
In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn’t last long.
Rates improved Monday and Tuesday as an oversold market corrected itself to ...
Posted by
yourmortgageplanner on Jan 9, 2010 in
FHA |
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FHA home loans are federal assistance mortgages made by lenders, and backed by the government. The FHA doesn’t make loans to homeowners — it insures loans made to homeowners by federally-qualified lenders.
By all accounts, FHA home loans are surging in popularity.
2006, FHA insured 3.3% of...
Fannie Mae raised the bar for mortgage applicants this past weekend. Getting approved for a home loan just got harder.
In its official announcement, Fannie Mae says the updates minimize long-term lending risks. If that’s the case, this won’t be the last guideline change Fannie Mae makes...
