HAVE YOU EXPERIENCED A DEROGATORY CREDIT EVENT, BUT ARE READY TO BUY A HOME AGAIN? HERE ARE THE GUIDELINES YOU NEED TO KNOW. If you are ready to buy a home again, but are concerned about your past credit issues, there are some things that you need to know about. Continue Reading →
Earlier this year, the Federal National Mortgage Association (aka Fannie Mae) released an updated version of its Selling Guide (SEL 2017-06) that mortgage loan underwriters use to determine loan approvals. There were numerous changes reported, including raising the maximum debt-to-income ratio (DTI) from 45% to 50%. You can read about Continue Reading →
In recent years, interest rates have remained low and the volatility levels of rates continue to stay low. It has been great for home buyers and those looking to refinance to lower interest rates. However, changes within the Federal Reserve are on the horizon and we may start to see Continue Reading →
There has been a lot of discussion lately regarding the Dodd-Frank Wall Street Reform Act and Consumer Protection Act. These regulatory acts established in 2010 under the Obama administration are among the many issues that are currently heavily split between political lines. New Legislation Under Vote Recently, the House of Continue Reading →
No matter what your political beliefs, it’s important to understand how the economy is affected when potential scandals arise. In the mortgage industry, interest rates are directly affected when big political headlines hit the front pages of major media outlets. They can go up quickly amidst positive economic news. Likewise, Continue Reading →
