Many of the country’s top lenders and financial associations have been pressuring the Consumer Financial Protection Bureau (CFPB). They have been asking to eliminate the strict debt-to-income (DTI) ratio requirement that is currently part of the Ability to Repay/Qualified Mortgage (QM) rule. What Are the Current DTI Requirements? Mortgage loan Continue Reading →
If you remember your history lessons, you may remember hearing about the Black Death plague that devastated Europe in the 14th century. We know about how much it affected the world’s population, but most people never thought about this period in history in terms of mortgage rates—at least not until now. Continue Reading →
The Federal Reserve has had a dramatic year. The U.S. Central Bank announced Wednesday that it will not be changing interest rates again this year, and it looks like they might hold steady in 2020, as well. Fed Rate Changes in 2019 The federal funds rate was raised nine times Continue Reading →
Active duty and veteran homebuyers have something big to look forward to in 2020. As a result of the Blue Water Navy Veterans Act of 2019, there will be no more limits on VA loans. The Advantages of VA Loans VA loans are backed by the U.S. Department of Veterans Continue Reading →
Technology has evolved how almost all business is done in today’s economy. Yet, the mortgage industry has been a bit slower to evolve than most other industries. It still requires a lot of paper pushing with so many documents to print, sign and notarize between all the parties involved. It Continue Reading →
