Home Loans

Two Changes Necessary to Bring First-Time Buyers Back into Housing Market

According to Richard Smith, CEO of Realogy, two major factors need to change if we want to see more first-time homebuyers enter the real estate market. First, he says, the fees associated with FHA loans – the “traditional form of

Lenders Rejecting Mortgage Applications Due to Soaring Costs

According to a report by Bloomberg News, many more individuals have had their mortgage applications denied in recent months than ever before. “The biggest thing people are suffering from is the cost to manufacture a loan,” explained Clem Ziroli, president

First-Time Home Buying Lowest Since 1987

First-time homebuyers make up just 33% percent of the current real estate market, according to a new report released by the National Association of Realtors on Monday. That number is the lowest point in nearly three decades, since 1987. “Rising

Housing Not Affordable for Many, Despite Lower Prices

According to a report by RealtyTrac, the issue of affordability in housing is measured very differently today than it used to be. “A real estate market that should be flying high is instead a real estate market that is faltering,”

Baby Boomers Likely to Stay Put or Upsize, Not Downsize

A new survey compiled by The Demand Institute found that Baby Boomers are very happy to continue living right where they are, thank you very much. And if they do move, they’d prefer to upsize rather than downsize. A previous

U.S. Consumer Financial Protection Bureau Nabs Loan Companies for Fraud

Multiple loan companies were found to have engaged in illegal acts surrounding student loans and mortgages, the U.S. Consumer Financial Protection Bureau announced on Tuesday. According to MSNBC, “The CFPB found that some student loan servicers inflated minimum payments due, made illegal debt

Researching Utilities Is Essential in Determining Home Buying Budget

The importance of factoring in taxes and insurance costs when considering a home buying budget is well known, but Bank of America reminds us of another pesky monthly expenditure to keep in mind. “If you’re moving into a larger home

FHA Close to Rebuilding Insurance Fund Cushion

The FHA is close to meeting the federally mandated minimum balance that it is required to maintain in its insurance fund. The balance dipped so low last year that the FHA had to borrow $1.7 billion in taxpayer money to

Boutique Lending Agencies Approving Riskier Mortgages

According to a report by Bloomberg News, although the big banks remain stingy with regard to who they give out mortgages to, many smaller lenders are beginning to take a risk in approving mortgages for people with a less-than-stellar financial

State of Georgia Reprimands Sun West for Employing Convicted Felon

Last month the State of Georgia served Sun West Mortgage Company a cease and desist letter, banning the mortgage company from continuing to provide jobs for its nine convicted felon employees. “Georgia mortgage brokers and mortgage lenders are prohibited from

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