Home Loans

Refinancing Today Could Be Beneficial for One in Three FHA Borrowers

The Urban Institute reported on Monday that nearly one in three FHA borrowers could save a significant amount of money over the course of their home loans if they were to refinance today. With President Barack Obama’s proposed 0.5 percentage

BofA, Citigroup, JPMorgan Seeking Buyers for $4.5 Billion of Loans

Bank of America Corp., Citigroup and JPMorgan Chase & Co. have begun accelerating the sales of $4.5 billion worth of home loans, Bloomberg Business is reporting. According to Mission Capital Advisors, the loans are made up of various types of

PMI Better Than Expected at Protecting Taxpayers

The Urban Institute revealed on Tuesday that private mortgage insurance is even more effective than originally predicted at protecting Fannie Mae, Freddie Mac and the American taxpayers from losses. PMI is paid by homeowners who are not able to put

Report: One Third of Americans Don’t Know Their Mortgage Rate

According to a new report by CNBC, more than a third of Americans don’t know their mortgage interest rates. Reporter Diana Olick says Monday morning’s finding is not surprising, however, considering that – during the housing boom – many people

Mortgage Serious Delinquency Rate Declines in December

Freddie Mac reported on Friday that the Single-Family serious delinquency rate dropped in December to 1.88% from 1.91% the month before. A seriously delinquent mortgage is one that is “three monthly payments or more past due or in foreclosure.” Bill

Millennials Seeking Smaller Homes, Greater Details

The National Association of Home Builders revealed on Monday that there are several characteristics in a home that will become more and more sought-after as millennials begin to enter the housing market. For one, desired home will get a little

Number of First-Time Homebuyers Remains at Historic Low

The National Association of Realtors confirmed on Friday that, for the second straight year, first-time homebuyers made up just 29 percent of previously-owned home sales in 2014. That number remains the lowest since data was first collected in 2008. And,

Wells Fargo, JP Morgan Fined Over ‘Illegal Mortgage Kickbacks’

The Consumer Financial Protection Bureau announced on Thursday that it and the Maryland Attorney General’s Office have ordered Wells Fargo and JP Morgan Chase to collectively pay $35.7 million to settle charges that they once participated in an illegal marketing

How Do Oil Prices Affect the Housing Market? Experts Differ

How to oil prices affect the housing market? It depends who you ask. One economist – Freddie Mac’s Frank Nothaft – had quite a positive outlook. “It has the same impact on consumer spending as a tax cut would,” he

New York City Sets Record with Sale of $100M Condo

According to CNN Money, an unidentified buyer set a New York City record on Dec. 23 by purchasing a two-level penthouse in Midtown Manhattan for more than $100 million. The $100,471,452.77 price tag is the highest ever paid for a

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