The U.S. Department of Housing and Urban Development announced several live online events that address the new Real Estate Settlement Procedures Act rule. The new RESPA rule takes effect on Jan. 1, 2010. Lenders and mortgage brokers will be required to provide prospective borrowers with a standard Good Faith Estimate that clearly discloses key loan [...]
CBC National Bank reported that its wholesale originations have nearly doubled over the past year. CBC announced the launch of a new technology platform for its mortgage brokers. The new platform includes real-time loan pricing and guideline matching, on-demand loan status updates and document imaging.Read more…
When you are in the market for a new home, or even are trading up to a nicer home, you will need a home mortgage loan. Once upon a time, mortgages were exclusively offered through banks, however there are now many lenders that offer nothing but mortgages and there are also lenders willing to help [...]
The secretary of the U.S. Department of Housing and Urban Development testified before a House committee that the agency will be implementing additional measures expected to further reduce the risk to the FHA portfolio. “In these measures we will be focusing primarily on three areas: enforcement, improving the quality and sustainability of new loans insured [...]
Combined production during the third quarter were down 15 percent from the second quarter at Lenders One Mortgage Cooperative. But compared to a year earlier, originations nearly doubled. Lenders One touted more than 150 members as of Sept. 30.Read more…
In low-cost areas, the Federal Housing Administration national loan-limit floor will be set at 65 percent of the conforming limit for 2010. The conforming limit has already been established at $417,000 for next year. Therefore the FHA national loan-limit floor will be $271,050 on a one-unit residence.Read more…
