Tagged: MortgageLender

No Pay Stub? No Problem. Unconventional Mortgages Make a Comeback Aryanna Hering didn’t have pay stubs or tax forms to document her income when she shopped around for a mortgage last year—a problem that made it tough for her to get a loan. But the nursing student who works part time providing home care for […]

Fannie/Freddie Changes Run the Gamut, Including Shutdown Underwriting Shift “Some people are so poor, all they have is money.” How about “26 of the World’s Richest Own the Same Wealth as Poorest Half” in the world!? To the best of my knowledge the PUGS (partial U.S. government shutdown) is not helping anyone’s wealth and is […]

Mortgage rates rose moderately for the 3rd day in a row today, bringing them to the highest levels since December 31st for the average lender.  In outright terms, this equates to an increase of an eighth of a percentage point (.125%) since the most recent lows last Thursday. While it’s only 3 days of weakness in the […]

Loan Defect Report Shutdown and Possible Impact on Lenders Verus Non-QM Deal Welcome to the Winter Solstice with more daylight in the Northern Hemisphere every day for the next six months. Today is definitely greeted by residents of Fairbanks, Alaska where the sun sets at 2:40 in the afternoon (with a high temperature of -14). […]

20 percent down payments are rare in many cities Saving for a down payment remains among the biggest hurdles to homeownership, especially for young or first-time buyers. But more data released recently shows that down payment expectations are changing, including the long-held 20 percent standard. A recent report from Zillow estimated that across the U.S., […]

Want a Better Credit Score? Soon, Your Cellphone Bill Could Help Consumers’ cellphone and utility payments will soon be added to one of their major credit reports, a move that will likely boost the credit scores of millions of people and increase loan approvals. Experian PLC, one of the largest credit-reporting firms in the U.S., will […]

5 Reasons to Talk to a Lender Right Now—Long Before You Buy a Home Most potential home buyers wait to talk to a mortgage lender until they’re ready to buy. Makes sense, right? Why bother digging up your financial statements and filling out a bunch of paperwork if you’re not going to buy right away? […]