With little to no down payment, no closing costs or fees and an interest rate that is near 0%, this program is starting to gain traction among borrowers. However, the approval process is far from easy.
The mortgage insurance premium cut starts today and HUD has issued a warning to lenders.
The launch of the regulator’s “Owning a Home” tool has caused uproar in the mortgage industry, and many claim the tool contradicts rules the CFPB already has in place.
Stearns Lending and a West Coast-based homebuilder have entered into an agreement to form a mortgage company set to be fully deployed by mid-2015.
Mortgage applications jumped by almost 50% last week after taking a dive during the last weeks of 2014.
Affordable homes are lagging far behind higher-priced homes in the home price recovery, trailing the furthest behind their pre-crisis housing maximums. Black Knight Financial delves into why.