Mortgage lenders won’t have to retain a 5 percent “risk retention” stake when loans are securitized just because borrowers put less than 20 percent down, federal regulators said today in proposing new guidelines for “qualified residential mortgages.” A previous...
By: Lou Barnes Inman News As we approach the end of the traditional, news-starved Silly Season, there are important things going on. And some other things. Release of the Federal Reserve’s July 31 meeting minutes on Wednesday collapsed the last courage in the...
While overall mortgage rates have been rising, a curious thing has been happening within the mortgage market itself. The difference between the cost of a conforming loan ($417,000 and under, except for certain high-cost markets) and a jumbo loan (above $417,000) has...
A rebuttal letter can help you fight a lower-than-expected home appraisal The buyer is ready to buy, and the seller is ready to sell. Then comes the low blow: The home is appraised below the contract price. A lower-than-expected appraisal typically means a...
The U.S. housing market is showing definite signs of recovery with purchase originations beginning to increase and more liquidity in the market. The recent “good times†can be attributed to two factors – the federal government’s Quantitative Easing (QE)...
By Matthias Rieker Wells Fargo & Co. (WFC) Chief Financial Officer Timothy Sloan told investors Friday that despite a decline in mortgage applications, the pipeline so far remains strong. Mortgage-interest rates rose significantly late in the second quarter, which...