Navigating the Mortgage Ecosystem

Navigating the Mortgage Ecosystem Editor's Note: This story was originally featured in the March issue of MReport, out now. Thirty years ago, mortgage origination was a simple process. An application was taken at the local savings and loan branch, documents were prepared within 48 hours, sent to a title company with a note to close, … Continue reading Navigating the Mortgage Ecosystem

US mortgage rates climb to 4-year high

~ a payment at the below interest rate of 4.46% would be $1410 for a $350,000 home with 20% down, not including taxes and insurance. The article states the rate at 4.21% from one year ago which would be $1370 for the same parameters. That's a $40 increase which adds up especially when buying a … Continue reading US mortgage rates climb to 4-year high

Trigger Leads Are Hurting Borrowers

~be careful out there~ Trigger Leads Are Hurting Borrowers The National Association of Mortgage Brokers (NAMB) wrote to Congress on Wednesday seeking a ban on the sale of trigger leads for mortgages through the PROTECT Act of 2017, which was passed after a credit bureau data leak affecting more than 143 million Americans. A trigger … Continue reading Trigger Leads Are Hurting Borrowers

A Tale of Two Decades

~ I think this is a really good outline of the last 10 years, hopefully you find it helpful. Let me know if you have any questions! ~ A Tale of Two Decades   From a macroeconomic perspective, the mortgage market entering 2008 was in tatters. The collapse of the subprime and the Alt-A markets, … Continue reading A Tale of Two Decades

Mortgage Credit Availability Declined in December

~don't fret! I have more than a few lenders with awesome programs for you! Give me a call 951.653.6872 and I can help~ Mortgage Credit Availability Declined in December The Mortgage Credit Availability Index (MCAI), a monthly report that measures the credit standards of lenders, declined 1.8 percent in December to 179.2 according to data … Continue reading Mortgage Credit Availability Declined in December

A Fight Over the Credit Score Lenders Use for Your Mortgage

~very interesting, what do you think?~ A Fight Over the Credit Score Lenders Use for Your Mortgage Banks and rival lenders are butting heads over the credit scores used to decide millions of mortgage requests by U.S. home buyers. Now, a federal agency is weighing whether to step into the fight, which revolves around a … Continue reading A Fight Over the Credit Score Lenders Use for Your Mortgage

LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion

LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion On Thursday, the American Mortgage Diversity Council is partnering with Bank of America to host an LGBT roundtable Town Hall in Dallas, Texas. The roundtable is the first of several such events planned across the country during 2018, designed to spur communication between the mortgage … Continue reading LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion

Borrowers: Increase Your Buying Power

Borrowers: Increase Your Buying Power In an effort to empower consumers by providing additional information on how their credit profile affects their loan prospects, LendingTree.com  recently released its November Mortgage Offers Report with their Chief Economist Tendayi Kapfidze’s analysis of November’s mortgage offers. Utilizing data from actual loan terms offered to borrowers by lenders,  Kapfidze finds … Continue reading Borrowers: Increase Your Buying Power

Rising heat in home prices makes buyers rush to riskier mortgages

~ alternative financing is not always a bad thing, just make sure you are well educated in what it means for your future. Any questions? I'm here ~ Rising heat in home prices makes buyers rush to riskier mortgages  © Provided by CNBCAn aerial view of a retirement community in Central FloridaHome prices are heating … Continue reading Rising heat in home prices makes buyers rush to riskier mortgages

The Pros and Cons of a 15-Year Mortgage

The Pros and Cons of a 15-Year Mortgage Mortgage companies frequently pitch their 15-year mortgage ads online. And if you aren't running into ads, if you buy a house, you'll certainly be asked if you'd like a 15-year mortgage instead of the standard and conventional 30-year loan. All of which could make anyone wonder – … Continue reading The Pros and Cons of a 15-Year Mortgage