Hard Money Loans Go High-End
These loans are shedding their negative reputation…
News
Self-Storage Magnates Cash In On The Surge In Real Estate
Extra Space was the top performer in the real estate world’s hottest asset class, self-storage…
Bank of America, Justice Sign $16.7 Billion Deal Over Bad Mortgages
The purchase of Calabasas’ Countrywide continues to haunt Bank of America…
An ‘In-Law Suite’ Can Provide A Home Within A Home
A couple create wide-open spaces at their home and make other renovations for an ailing parent…
Is Your Home Older Than Its Years?
An out-of-shape house is older than its years and could lose 10% of its appraised value. That’s a $15,000-$20,000 adjustment for the average home…
Credit Scores A High Hurdle For Mortgage Applicants As Banks Stay Gun-Shy
The average FICO credit scores for approved applicants for FHA home purchase loans have been dropping steadily this year…
Second Liens Grow Again As Other Mortgage Lending Dwindles
Homeowners with existing loans who want to access more cash for home improvements look to second liens…
Banks’ Pursuit of Top-Tier Borrowers Drives Jumbo Rates Down
Competition among banks for the mortgage business of wealthy consumers is driving down interest rates on jumbo mortgages to the point that they’re lower than conforming loan products…
Bank of America’s Countrywide Ordered to Pay $1.3 Billion
B of A’s Countrywide was ordered to pay $1.3 billion in penalties for defective mortgage loans sold to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, a little more than half of what the federal government had requested.
FHFA Proposal Could Force Price Hikes for Mortgage Insurance
Private mortgage insurers could be forced to raise prices if Federal Housing Finance Agency’s private mortgage insurer eligibility requirements go into effect as proposed…