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MBA weekly survey: mortgage apps fall 2.1%

Posted by   /  October 12, 2017  /  Real Estate  /  No Comments

mortgage refinancing

Interest rates rose across all mortgage loan types over the week ending October 6th. By Mary Salmonsen | Builder Mortgage applications decreased by 2.1% on a seasonally-adjusted basis over the week ending October 6th, 2017, according to the Mortgage Bankers Association’s Weekly Survey and Market Composite Index, a measure of mortgage loan application volume. On an unadjusted […]

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Millennials’ new weapon in bidding wars: A parent’s home equity

Posted by   /  October 10, 2017  /  Real Estate  /  No Comments

Parents refinance their own homes to help their children compete as all-cash buyers in hot housing markets. When the purchase closes, the children pay the parents back. By Leigh Kamping-Carder | The Wall Street Journal  Call it the mortgage merry-go-round: Parents refinance their home to fund the full cost of their son or daughter’s desired home. […]

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Fewer Boomers are mortgage free

Posted by   /  October 6, 2017  /  Real Estate  /  No Comments

Though younger members of the cohort are paying home loans off faster, the group is behind its predecessors. BUILDER Paying off the mortgage, once a widespread rite of passage for homeowners approaching retirement, has become less common in recent years. Concerns are mounting that the increasing prevalence of housing debt among older homeowners could compromise […]

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Lender helps mortgage borrowers crowdfund down payment

Posted by   /  October 6, 2017  /  Real Estate  /  No Comments

Builder Since saving enough for a down payment is difficult for many Americans, one lender if offering a creative solution to customers, reports MarketWatch staffer Jacob Passy. CMG Financial, a privately-held mortgage banking firm, has launched HomeFundMe — a pilot crowdfunding service that’s the first to receive approval from Fannie Mae and Freddie Mac READ ON:

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Senior home equity up 2.4% from Q1 to Q2

Posted by   /  October 3, 2017  /  Real Estate  /  No Comments

Those 62 and older are sitting on $6.27 trillion, with a t. But medical expenses are expected to take a toll. Builder The National Reverse Mortgage Lenders Association reported Friday that homeowners age 62 and older saw their home equity increase by a combined 2.4% to $6.42 trillion in the second quarter of 2017 from […]

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Overcoming the skeptics: Lenda CEO on reimagining homeownership with online mortgages

Posted by   /  September 27, 2017  /  Real Estate  /  No Comments

mortgage refinancing

How Lenda stands out with completely online mortgages By Brena Swanson | Housingwire Jason van den Brand, founder and CEO of Lenda, an online mortgage company, constantly faces criticism on the idea and desire for fully online digital mortgages. Even two years ago, in an interview with HousingWire, van den Brand defended the company’s lending style, explaining that most […]

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Is it better to invest or pay off your mortgage?

Posted by   /  August 29, 2017  /  Real Estate  /  No Comments

Builder If you’re a homeowner with some extra cash, is it better to invest the money or use it to pay off your mortgage? It depends, writes Hal M. Bundrick in a piece for NerdWallet. When mulling a decision, Justin Goodbread, a certified financial planner in Knoxville, Tenn., suggests you consider six variables: READ ON:

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Opendoor pilots mortgage feature in Phoenix, continues hiring locally

Posted by   /  August 29, 2017  /  Real Estate  /  No Comments

By Hayley Ringle | Phoenix Business Journal The fast-growing online home buying and selling company Opendoor.com has begun piloting its mortgage and title options for customers in Phoenix as it continues hiring in the city and expanding across the country. The San Francisco-based company, which launched first in the Phoenix metro area in early 2015, has been […]

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Fannie Mae joins Freddie in allowing appraisal-free purchase mortgages

Posted by   /  August 24, 2017  /  Real Estate  /  No Comments

Allows property inspection waiver on some low LTV loans By Kelsey Ramírez | Housingwire Fannie Mae is now following suit in the appraisal-free arena by allowing property waiver inspections on some purchase loans. Last week, Freddie Mac extended its appraisal-free mortgage program to its purchase loans, announcing it will go into effect on September 1, 2017. Shortly afterward, Fannie issued […]

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Buying a home just got easier for many Millennials with student loan debt

Posted by   /  August 22, 2017  /  Real Estate  /  No Comments

By Catherine Reagor | The Republic Millennials overloaded with student loans now have a better chance of buying a home. The biggest mortgage backers in the country have upped the amount of debt borrowers can have and still qualify for a home loan. I cheer the good news for the many Millennials held back from a home purchase because of hefty student-loan debt. […]

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