A steady drop in rates is giving homeowners a second chance to lower mortgage payments, and according to Ellie Mae, lenders in January saw their share of refinancing activity jump.
When will rates rise? No one knows, not even the Fed.
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.