RISMedia » Financing a Home

FHFA Responds to NPR Freddie Mac Refinance Story

susanne — Wed, 01 Feb 2012 21:58:08 +0000

A ProPublica–NPR news story recently suggested that a mortgage financing vehicle utilized by Freddie Mac may be preventing homeowners from refinancing. While FHFA does not typically comment on its supervisory activities, the circumstances here require some clarification, according to the …

Buying a Home? Finally, Times Are Good!

susanne — Tue, 20 Dec 2011 21:26:28 +0000

Everyone knows that the housing market has been a little daunting for the last several years. Ups and downs, talk of good news and bad news, and a confusing amount of information about rising and falling mortgage rates has rendered …

Legislative and Regulatory Recap – The Year in Review

susanne — Tue, 13 Dec 2011 21:35:32 +0000

Editor’s Note: The below article, which originally appeared in the December 2011 issue of Real Estate magazine, features updated information regarding the National Flood Insurance Program.

The NATIONAL ASSOCIATION OF REALTORS® (NAR) is a leading advocate regarding federal legislative and …

Mortgage Defaults: Signs of Recovery

susanne — Tue, 13 Dec 2011 21:29:53 +0000

The UFA Default Risk Index for the fourth quarter of 2011 edged lower to 131 from last quarter’s revised 133, which suggests that residential mortgage default and prepayment risks are continuing their return to normalcy.

According to the latest UFA …

Adjustable Mortgage Rates Hit Record Lows

susanne — Thu, 01 Dec 2011 22:02:22 +0000

Freddie Mac (OTC: FMCC) recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates changing little and remaining near their historic lows while adjustable-rate mortgages averaged new record lows. The 30-year fixed has averaged …

Loan Modification is Stressful; Know Your Options

susanne — Wed, 30 Nov 2011 21:52:03 +0000

When the Obama administration rolled out the Home Affordable Modification Program (HAMP) in 2009, officials estimated 3 to 4 million borrowers would seek relief from their mortgages through the program amidst the worst recession and housing market collapse in decades.…

Delinquency Rate Hits 3-year Low as Boom Loans Improve

susanne — Sun, 20 Nov 2011 18:05:16 +0000

The national delinquency rate for residential home loans fell to 7.99 percent in the third quarter—the lowest reading since the fourth quarter of 2008. This represents a decline of 45 basis points from the second quarter of this year, and …

Study Examines Impact of Social Networks on Homeowners Decision to Default

susanne — Sat, 19 Nov 2011 05:03:00 +0000

Unemployment and other factors have caused many homeowners to involuntarily default on their mortgages. At the same time, falling home prices, the possibility of being underwater for many years and advice from certain influencers, or “mavens,” may have encouraged others …

Mortgage Applications Increase in Latest MBA Weekly Survey

susanne — Tue, 15 Nov 2011 21:53:19 +0000

Mortgage applications increased 10.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 4, 2011.

According to the release, the Market Composite Index, a measure of …

Third Quarter Results: Refinancing Homeowners Maintain or Reduce Debt

susanne — Wed, 09 Nov 2011 21:04:08 +0000

Freddie Mac (OTC: FMCC) released the results of its third quarter refinance analysis showing homeowners who refinance continue to strengthen their fiscal house by maintaining or reducing their mortgage debt.

In the third quarter of 2011, 82 percent of homeowners …

Trend Alert: Homeowners Opt for 15-year Fixed-Rate Loans

susanne — Tue, 08 Nov 2011 21:09:09 +0000

Consumer money resource Bills.com recently released its 2011 Third Quarter Mortgage Report. Driven by an increased demand for refinance loans, consumer traffic to the company’s mortgage tools and calculators more than doubled from the second quarter.

The majority of homeowners …

Jumbo Mortgages: How to Bag the Big Opportunity Today

susanne — Mon, 07 Nov 2011 21:29:08 +0000

Effective October 1, 2011, Fannie Mae and Freddie Mac lowered their conforming loan limits back to 2008 levels. And that means many home buyers suddenly need a jumbo loan to qualify for the homes they want. Real estate professionals who …

Why 20% Downpayments Don’t Always Make Sense (or Dollars)

susanne — Wed, 02 Nov 2011 21:08:47 +0000

Despite the “doom and gloom” in today’s headlines, in the current economic climate, homeownership is more affordable than ever, thanks to low interest rates and lower home values. For those buyers who manage to have a 20% (or more) downpayment, …

Mortgage Interest Deduction a Must for Middle Class

susanne — Sun, 16 Oct 2011 18:05:15 +0000

Eliminating or curtailing the mortgage interest deduction would have a disproportionate impact on younger, middle-class families, who would see their ability to become home owners significantly diminished, with sober implications for their longer term financial prospects, the National Association of …

Pending Home Sales Decline in August but Remain above a Year Ago

beth — Sat, 01 Oct 2011 05:04:44 +0000

Pending home sales slipped in August with a mixed regional performance but are higher than a year ago, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 1.2 percent …

Five Ways to Fight a Low Appraisal

susanne — Wed, 07 Sep 2011 21:05:25 +0000

What do you do when the appraisal on the dream home you want to buy comes in below the price in the offer the seller has accepted—even as much as 10 to 20 percent below?

Chances are that raising the …

Lack of Equity Can Derail Mortgage Refinancing

susanne — Wed, 07 Sep 2011 21:04:42 +0000

(MCT)—With mortgage interest rates hovering around 50-year lows, refinancing is an appealing prospect for many homeowners. I think this is especially true considering the stock market’s August gyrations. Taking nervous energy and using it to focus on sure-thing money moves …

Fewer Homeowners Opting to Refinance

susanne — Tue, 06 Sep 2011 21:03:03 +0000

The number of consumers across the country who filed applications for new home loans recently fell considerably, as fewer borrowers sought to refinance their existing mortgages. Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests that consumers review …

Is Your Loan Modification Application Stuck?

beth — Wed, 31 Aug 2011 05:26:58 +0000

If you’re on the verge of losing your home, or you know someone who is, then you also know about the long, bureaucratic process involved in applying for a loan modification from a lender. The most common approach is to …

Remodeling Activity Slows under Economic Uncertainty

beth — Fri, 29 Jul 2011 21:07:57 +0000

RISMEDIA, August 1, 2011—The remodeling market slipped under pressure from a sluggish economy according to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI), which dipped during the second quarter to 43.9 from the first quarter result of …