Do You Think It's Harder to Get a Home Loan?

Banks Tighten Standards For Real Estate Loans The preliminary results of C.A.R.’s June 2012 Broker Confidence Survey indicate that bank lending standards have not eased recently. When asked how underwriting standards in May compared to the prior six months, the majority of brokers indicated that access to credit was harder for clients (39 percent) or unchanged (44 percent); only 17 percent […]

Do You Think It’s Harder to Get a Home Loan?

Banks Tighten Standards For Real Estate Loans The preliminary results of C.A.R.’s June 2012 Broker Confidence Survey indicate that bank lending standards have not eased recently. When asked how underwriting standards in May compared to the prior six months, the majority of brokers indicated that access to credit was harder for clients (39 percent) or unchanged (44 percent); only 17 percent […]

Protecting Your Credit Score

U.S. Agency will now Help Protect Your Credit Large credit reporting agencies are now going to have to play within the rules. The Consumer Financial Protection Bureau will begin this fall to supervise the 30 largest credit reporting companies, including Experian, Equifax and TransUnion. What this means to you? Credit reporting agencies will have to report accurate information […]

New Mortgage Rates Squash All-Time Lows

Mortage Rates July 24th 2012 Mortgage Rates are on an undisputed tear, moving more today than any day in the past 3 weeks of progressive movement into new all-time lows. The week began much like the previous week ended, with concerns over the European financial system pulling all manner of ‘safe-haven’ bond yields lower, among […]

Mortgage Rates Continue Inching To New All Time Lows

Mortgage Rates Continue Trickling Lower To New All Time Lows Tuesday, July 10, 2012 2:51 PM Mortgage Rates continued lower today, marking the third consecutive day at new all-time lows. Broader Bond Markets continued to benefit from a generally skeptical and negative outlook on the European debt crisis. That skepticism helped push the European currency […]

Great News for FHA Loan Applicants; Ease of Credit Restrictions

FHA rescinds tough new credit restrictions on loan applicants The withdrawn policy change, which had been scheduled to take effect Sunday, would have affected borrowers with collections or disputed-bill accounts in their credit files. In a policy switch that could be important to thousands of applicants seeking low-down-payment home mortgages, the Federal Housing Administration has […]

Mortgage Rates at Record Lows

EXTRA EXTRA – Mortgage Rates at Record Lows  for Friday July 6th, 2012 Record-low mortgage rates stuck around for another week, allowing home buyers and homeowners looking to refinance to lock-in super low financing. Both the 30-year and 15-year fixed-rate mortgages matched their all-time lows. “Mortgage rates were virtually unchanged this week hovering at or […]

Mortgage Rates Plummet Good News For You

30-Year Mortgage Rates Fell in Latest Week: Zillow   By: Reuters Interest rates on 30-year fixed-rate mortgages fell in the latest week, real estate website Zillow.com said on Tuesday. Low rates on mortgages should continue to boost home loan refinancing activity and put more cash into consumers’ hands to funnel into the economy. They also […]

Gravy Train is Over for Mortgage Brokers

Fed finalizes ban on lender-paid bonuses for mortgage brokers The Federal Reserve has finalized its rules banning lender-paid bonuses for mortgage brokers and loan officers who get borrowers to accept a higher interest rate than necessary. The Fed said that its consumer tests found that borrowers generally are unaware of the payments lenders make to […]