Despite several big-name banks pulling the product from their respective home loan offerings, reverse mortgages remain a popular mortgage choice among homeowners aged 62 or over. A … [Read more...]
Mortgage Guidelines Resume Tightening Nationwide
05/01/2012 By
Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom. Last quarter, by a margin of 3-to-2, more banks tightened residential … [Read more...]
FHA Mortgage Insurance Premiums Increasing April 9, 2012
04/03/2012 By
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today. Beginning next week, the Federal Housing Administration … [Read more...]
FHA Drops Upfront Mortgage Insurance Premium To 0.01% For Qualified Borrowers
03/09/2012 By
The FHA is making more changes to its flagship FHA Streamline Refinance program. Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their … [Read more...]
FHA To Raise Mortgage Insurance Premiums April 1, 2012
03/02/2012 By
Beginning April 1, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers throughout and the country. It's the FHA's fourth such … [Read more...]
Revamped HARP : Unlimited Loan-to-Value And Same Great Rates
02/10/2012 By
The government's new, revamped HARP program is 6 weeks from release. Homeowners nationwide are gearing up to refinance. HARP is an acronym. It stands for Home Affordable Refinance … [Read more...]
Banks Start To Loosen Up In Underwriting
02/03/2012 By
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 … [Read more...]
Maximum FHA Loan Limits Restored To $729,750
11/22/2011 By
After a brief return to lower, pre-2009 levels, FHA loan limits have been restored. As signed into law last Friday, maximum FHA loan limits are -- once again -- as high as … [Read more...]
Government Releases Additional HARP Guidance For Underwater Homeowners
11/16/2011 By
Tuesday, Fannie Mae and Freddie Mac unveiled lender instructions for the government's revamped HARP program, kick-starting a potential refinance frenzy nationwide. HARP stands for … [Read more...]
Banks Resume Tightening Mortgage Guidelines
11/10/2011 By
As part of its quarterly survey to member banks nationwide, the Federal Reserve asked senior loan officers whether last quarter's "prime" residential mortgage guidelines have … [Read more...]
