The Fair Isaac Corporation (better known as FICO) recently introduced its new credit score model, and obviously it’s attracting a lot of attention from mortgage industry experts. Only time will tell if this new model will revolutionize the lending industry or if it will fail. UltraFICO They’re calling it UltraFICO. Continue Reading →
I was just reading this recent article on HousingWire regarding the Consumer Federal Protection Bureau (CFPB) and the ongoing discussions over regulatory enforcement within the finance industry. I always like to stay on top of any news relating to the mortgage industry, whether it affects our company or our clients. Continue Reading →
Bitcoin has been a popular subject in the news lately and it’s been causing quite a stir in the real estate and mortgage industries, as well. What is Bitcoin? In case you weren’t aware, bitcoin is a type of cryptocurrency. It is a decentralized type of digital currency that allows Continue Reading →
It was just announced that the Federal Housing Finance Agency (FHFA) has increased the conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac. The new baseline conforming loan limits will be in place to start 2018. The amount will go up from $424,100 to $453,100. And that 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 →
