Expert insights. Personalized for you.
Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021. MORE
DTI, your 'debt-to-income ratio,' includes taxes and insurance as part of your mortgage payment. Here's how to find your DTI with taxes and insurance. About Mortgages Buying a home MORE
Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. MORE
The clock has effectively run out for FHFA Director Calabria to release Fannie Mae and Freddie Mac from their 12-year captivity under conservatorship following the great financial crisis. The next stage in their evolution is within reach to ensure that legacy while protecting taxpayers. MORE
The Consumer Financial Protection Bureau appears to have lost an opportunity to correct a nagging issue in its definition of a qualified mortgage. At the heart of the issue is a borrower’s ability to repay their mortgage. MORE
Many homeowners are talking about refinancing their mortgages at the moment. But, before you jump into refinancing your mortgage, it’s important to know what it involves and what the potential consequences are. Do you have any plans to relocate? US Real Estate Mortgage MORE
Andrei Stanescu / iStock Some mortgage lenders are asking customers taking out a mortgage to confirm they don’t intend to seek forbearance, a move meant to keep losses low during a pandemic that has put millions of Americans on shaky financial footing. MORE
The Consumer Financial Protection Bureau (CFPB) issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. The Home Mortgage Disclosure Act (HMDA) is a data collection, reporting and disclosure statute that was enacted in 1975. MORE
and co-leader of the law firm’s mortgage practice group, to talk about regulatory proposals being considered by the Consumer Financial Protection Bureau. Q: What developments at the CFPB should the mortgage industry be watching? MORE
valentinrussanov/Getty Images The gig economy has blown up in the past few years, with more and more people choosing to work as freelancers, either by starting their own businesses, or by picking up nonsalaried jobs from bigger companies. Getting a mortgage as a freelancer (pre-coronavirus). MORE
It checks all your boxes for must-haves, from location to square footage to price point. You’ve done your homework as a homebuyer, going through the preapproval process , getting your down payment together, and picking out your mortgage lender. You may need to pay the seller. MORE
Depending on the market where you live, your mortgage may be lower than rent. Having a low debt to income ratio and a solid credit score allows you to qualify for a mortgage with the best possible interest rate. The post Are You Ready to Buy a Home? MORE
Interest rates are currently at a historic low, making it extremely tempting to reconsider your current mortgage. Indeed, you may be thinking about refinancing your mortgage in order to make the most of low rates. US Real Estate Mortgage MORE
Saving for your home may feel like a big undertaking, but there are a few tricks you can use to make it easier. Check with a financial planner to help you make the most of your budget long-term. Address Your Debt. Address your debt selectively. MORE
Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Below is a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. MORE
If you don’t know how to qualify as a first-time home buyer, then the first thing you should know is: Being a first-time homebuyer includes some exclusive perks that make it easier to purchase a home. From how much you need for down payments to credit scores , let’s break it down. MORE
If your ability to afford the mortgage payments on the home you want to buy is causing you concern, buying a foreclosure home may make a lot of sense. This is because the lender wants to release their money from the property as soon as possible. MORE
The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. Extending sustainable homeownership opportunities to more people of color would not only improve racial equity, it would also be good for economic growth. MORE
If you’re thinking about buying a house one day, then you may have heard that coming up with a mortgage down payment is a big obstacle, possibly even the biggest. The rest of the money to buy the house comes from the lender in the form of a mortgage loan. The LTV ratio is 88%. MORE
The Mortgage Bankers Association sent a letter on Monday to the Consumer Financial Protection Bureau asking for a six-month extension to the so-called “GSE patch” that allows Fannie Mae and Freddie Mac home loans to borrowers with high debt levels to be considered Qualified Mortgages. MORE
If you’re looking to buy a house, there are a wide range of companies that would likely be happy to give you a mortgage. They are often less strict than banks when it comes to loan approval requirements and down payments. MORE
Credit bureaus gather information on you and use a formula to create your credit score , which can range from 300 to 850. Lenders and other businesses use this credit score to assess you because it shows them how likely you are to repay the money you borrowed. MORE
If you’re thinking about buying a home, then boosting your FICO score should be at the top of your to-do list. Thanks to the pandemic, the three main credit bureaus — TransUnion, Equifax and Experian — are all offering free weekly credit reports until April 2021. Avoid new debt. MORE
Cash offers have traditionally been a great way to get a discount or encourage a reluctant seller. However, when it comes to mortgages, cash can suddenly lose its appeal. Nowadays, lenders want to know exactly where all your funds are coming from. MORE
A study by American Student Assistance found that 55% of student loan holders said their debt is causing them to put off homeownership. It’s About Your Debt-to-Income Ratio. There are positive steps you can take to improve how lenders view both. MORE
One being, how much do you need to earn in a year to afford a mortgage in the U.S.? . Since home prices vary state-by-state, the salary you need to qualify for a mortgage in the U.S. and how much a potential homeowner would need to earn to live comfortably. MORE
Canadian mortgage debt indicators are looking better, but the state-owned housing agency is putting a big asterisk beside them. Canada Mortgage and Housing Corporation (CMHC) data shows the mortgage debt to income ratio made a sharp drop in Q2 2020. MORE
According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% The post Is the FHFA about to delay the refi fee? MORE
Mortgage rates are at an all-time low, but that’s just too bad for the thousands of potential home buyers who’re missing out on the action due to tighter lending standards. According to Bloomberg News , housing credit availability has reached its lowest level since February 2014. MORE
Your credit plays a huge part in your ability to get a mortgage. Still, it’s not the end-all, be-all—and many borrowers believe they need picture-perfect credit to buy a home. Myth 2: You can’t buy a house if you have lots of student loan debt. MORE
Mark Dodson was having a promising start to the year. His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. But by March there were whispers that the non-QM space was going to vanish soon. MORE
The Consumer Financial Protection Bureau is proposing a new category of qualified mortgages called Seasoned QM, which would require loans to meet certain performance requirements over a 36-month seasoning period. MORE
You’ve never had trouble qualifying for a mortgage because your credit rating was high, your debt-to-income ratio was good, and you bought a house that you could afford. Now you’re fully retired and want to sell the old family home that still has a mortgage. MORE
Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. MORE
If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? Mortgage rates are relatively complex. MORE
You may think that cleaning out your bank account to make a large down payment on a house would be a smart move, but that’s inaccurate. Mortgage reserves are expressed in terms of the number of months you can cover all those costs. . Why Might Mortgage Reserves Be Required? MORE
The Morgtage Report
JANUARY 12, 2021
DTI, your 'debt-to-income ratio,' includes taxes and insurance as part of your mortgage payment. Here's how to find your DTI with taxes and insurance. About Mortgages Buying a home
Housing Wire
AUGUST 18, 2020
The Consumer Financial Protection Bureau is proposing a new category of qualified mortgages called Seasoned QM, which would require loans to meet certain performance requirements over a 36-month seasoning period.
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Housing Wire
SEPTEMBER 9, 2020
Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021.
Keeping Current Matters
DECEMBER 21, 2020
Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Below is a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process.
Better Dwelling
NOVEMBER 16, 2020
Canadian mortgage debt indicators are looking better, but the state-owned housing agency is putting a big asterisk beside them. Canada Mortgage and Housing Corporation (CMHC) data shows the mortgage debt to income ratio made a sharp drop in Q2 2020.
Housing Wire
SEPTEMBER 10, 2020
and co-leader of the law firm’s mortgage practice group, to talk about regulatory proposals being considered by the Consumer Financial Protection Bureau. Q: What developments at the CFPB should the mortgage industry be watching?
Housing Wire
AUGUST 22, 2020
According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% The post Is the FHFA about to delay the refi fee?
RIS Media
NOVEMBER 2, 2020
You may think that cleaning out your bank account to make a large down payment on a house would be a smart move, but that’s inaccurate. Mortgage reserves are expressed in terms of the number of months you can cover all those costs. . Why Might Mortgage Reserves Be Required?
Housing Wire
OCTOBER 27, 2020
Your credit plays a huge part in your ability to get a mortgage. Still, it’s not the end-all, be-all—and many borrowers believe they need picture-perfect credit to buy a home. Myth 2: You can’t buy a house if you have lots of student loan debt.
Realty Biz
OCTOBER 21, 2020
Mortgage rates are at an all-time low, but that’s just too bad for the thousands of potential home buyers who’re missing out on the action due to tighter lending standards. According to Bloomberg News , housing credit availability has reached its lowest level since February 2014.
Housing Wire
NOVEMBER 12, 2020
If you’re thinking about buying a home, then boosting your FICO score should be at the top of your to-do list. Thanks to the pandemic, the three main credit bureaus — TransUnion, Equifax and Experian — are all offering free weekly credit reports until April 2021. Avoid new debt.
Realtor.com
NOVEMBER 2, 2020
valentinrussanov/Getty Images The gig economy has blown up in the past few years, with more and more people choosing to work as freelancers, either by starting their own businesses, or by picking up nonsalaried jobs from bigger companies. Getting a mortgage as a freelancer (pre-coronavirus).
Housing Wire
DECEMBER 31, 2020
The clock has effectively run out for FHFA Director Calabria to release Fannie Mae and Freddie Mac from their 12-year captivity under conservatorship following the great financial crisis. The next stage in their evolution is within reach to ensure that legacy while protecting taxpayers.
Housing Wire
OCTOBER 21, 2020
The Consumer Financial Protection Bureau appears to have lost an opportunity to correct a nagging issue in its definition of a qualified mortgage. At the heart of the issue is a borrower’s ability to repay their mortgage.
Housing Wire
AUGUST 11, 2020
The Mortgage Bankers Association sent a letter on Monday to the Consumer Financial Protection Bureau asking for a six-month extension to the so-called “GSE patch” that allows Fannie Mae and Freddie Mac home loans to borrowers with high debt levels to be considered Qualified Mortgages.
Keeping Current Matters
AUGUST 20, 2020
Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end.
Point2Homes
OCTOBER 6, 2020
Cash offers have traditionally been a great way to get a discount or encourage a reluctant seller. However, when it comes to mortgages, cash can suddenly lose its appeal. Nowadays, lenders want to know exactly where all your funds are coming from.
Point2Homes
NOVEMBER 3, 2020
Many homeowners are talking about refinancing their mortgages at the moment. But, before you jump into refinancing your mortgage, it’s important to know what it involves and what the potential consequences are. Do you have any plans to relocate? US Real Estate Mortgage
Housing Wire
NOVEMBER 10, 2020
Mark Dodson was having a promising start to the year. His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. But by March there were whispers that the non-QM space was going to vanish soon.
RIS Media
OCTOBER 2, 2020
If you’re looking to buy a house, there are a wide range of companies that would likely be happy to give you a mortgage. They are often less strict than banks when it comes to loan approval requirements and down payments.
Realty Biz
NOVEMBER 14, 2020
Depending on the market where you live, your mortgage may be lower than rent. Having a low debt to income ratio and a solid credit score allows you to qualify for a mortgage with the best possible interest rate. The post Are You Ready to Buy a Home?
Realtor.com
AUGUST 26, 2020
Andrei Stanescu / iStock Some mortgage lenders are asking customers taking out a mortgage to confirm they don’t intend to seek forbearance, a move meant to keep losses low during a pandemic that has put millions of Americans on shaky financial footing.
Realty Biz
OCTOBER 20, 2020
You’ve never had trouble qualifying for a mortgage because your credit rating was high, your debt-to-income ratio was good, and you bought a house that you could afford. Now you’re fully retired and want to sell the old family home that still has a mortgage.
Point2Homes
NOVEMBER 8, 2020
Interest rates are currently at a historic low, making it extremely tempting to reconsider your current mortgage. Indeed, you may be thinking about refinancing your mortgage in order to make the most of low rates. US Real Estate Mortgage
Point2Homes
DECEMBER 7, 2020
If your ability to afford the mortgage payments on the home you want to buy is causing you concern, buying a foreclosure home may make a lot of sense. This is because the lender wants to release their money from the property as soon as possible.
Realty Biz
OCTOBER 4, 2020
A study by American Student Assistance found that 55% of student loan holders said their debt is causing them to put off homeownership. It’s About Your Debt-to-Income Ratio. There are positive steps you can take to improve how lenders view both.
Realtor.com
JANUARY 7, 2021
Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage.
RIS Media
AUGUST 30, 2020
The Consumer Financial Protection Bureau (CFPB) issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. The Home Mortgage Disclosure Act (HMDA) is a data collection, reporting and disclosure statute that was enacted in 1975.
HomeLight
AUGUST 28, 2020
If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? Mortgage rates are relatively complex.
HomeLight
DECEMBER 31, 2020
If you’re thinking about buying a house one day, then you may have heard that coming up with a mortgage down payment is a big obstacle, possibly even the biggest. The rest of the money to buy the house comes from the lender in the form of a mortgage loan. The LTV ratio is 88%.
Point2Homes
JANUARY 5, 2021
Credit bureaus gather information on you and use a formula to create your credit score , which can range from 300 to 850. Lenders and other businesses use this credit score to assess you because it shows them how likely you are to repay the money you borrowed.
HomeLight
OCTOBER 2, 2020
It checks all your boxes for must-haves, from location to square footage to price point. You’ve done your homework as a homebuyer, going through the preapproval process , getting your down payment together, and picking out your mortgage lender. You may need to pay the seller.
Housing Wire
DECEMBER 7, 2020
The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. Extending sustainable homeownership opportunities to more people of color would not only improve racial equity, it would also be good for economic growth.
RIS Media
SEPTEMBER 4, 2020
Saving for your home may feel like a big undertaking, but there are a few tricks you can use to make it easier. Check with a financial planner to help you make the most of your budget long-term. Address Your Debt. Address your debt selectively.
HomeLight
AUGUST 31, 2020
If you don’t know how to qualify as a first-time home buyer, then the first thing you should know is: Being a first-time homebuyer includes some exclusive perks that make it easier to purchase a home. From how much you need for down payments to credit scores , let’s break it down.
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