The market for home buyers has been tricky the past couple years. Home prices have risen because of low inventory. The interest rates, however, have been very favorable and that has made it a very strong seller’s market. Yet, rates have also continued to rise steadily throughout 2018. As always, Continue Reading →
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 →
In an effort to improve the mortgage loan application process, Fannie Mae and Freddie Mac (under the direction of the Federal Housing Finance Agency (FHFA)) have significantly redesigned the standard home loan application form. This new form, known as the Uniform Residential Loan Application (URLA), will be adopted by lenders Continue Reading →
Based on recent economic factors, government agencies have begun releasing more mortgage credit available for home buyers. According to the data, loan programs from the FHA and other sources have been increasing. Borrowers have been able to finance home loans with increased debt loads, lower down payments and weaker credit Continue Reading →
As of December 31, 2018, the Home Affordable Refinance Program (HARP) is being eliminated by Fannie Mae and Freddie Mac. This program was originally established to help homeowners who were struggling after the housing bubble burst in 2008. Since the economy (and especially the housing and lending markets) have recovered Continue Reading →
