The Federal Housing Administration said in a mortgagee letter that eligibility requirements for FHA appraisers change on Oct. 1. Appraisers who are not state certified will be removed from the FHA Appraiser Roster, according to the letter. The certification includes certified residential or certified general.Read more…
Predicting mortgage interest rates can be tricky. We do have some good information to work with though and make a good prediction. Here are my 2009 and 2010 mortgage rate predictions, and how I made them:
Early in 2009, home mortgage interest rates were around 4.69% for a standard fixed rate 30 year mortgage. These were [...]
MDMC completed an $800 million delivery to Ginnie Mae, a news release indicated. MDMC said that it specializes in providing agency delivery services. "MDMC uses proprietary programs to run loans through Fannie Mae and Freddie Mac specific edits and has now added similar programs for Ginnie Mae," the Sussex, Wis., firm said in the statement.Read [...]
How exactly do 'interest only' mortgage loans work? When do I pay on the principle of such a loan?
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Wells Fargo & Co. announced that Dick Kovacevich will give up his chairman post at the end of this year. In addition, he will step down as a director. By early next year, Kovacevich will be fully retired.Read more…
Why refinance? There are a range of reasons folks refinance the loan on their houses. For some, it’s a technique to exploit lower IRs.
Mortgage payment cover is still facing many problems and faith badly needs restoring. Mortgage protection is one of a family of protection policies that can be taken out to safeguard against you becoming out of work. If you are incapacitated to the point where you cannot attend work after suffering from an accident or an [...]
Disadvantages of a Reverse Mortgage
Although Reverse Mortgages can provide a steady source of income at an old age, they come with their own set of disadvantages. Read on to know more…
What is Reverse Mortgage?
As the name suggests, Reverse Mortgage (also known as conversion mortgage) is the opposite or mirror image of the convention home mortgage. [...]
The Federal Housing Administration reported that it endorsed 185,423 loans during August. Volume was down 6 percent from July. The decline in FHA volume was driving by a big drop in refinance activityRead more…
Irwin Union Bank, FSB, was closed Friday by the Office of Thrift Supervision and handed over to the Federal Deposit Insurance Corporation, a press release said. The Louisville, Ky.-based bank "was in an unsafe and unsound condition to conduct business because of its deteriorating asset quality, weak earnings and inability to develop an acceptable operating [...]
