Have you been looking ahead to the long-anticipated news that the two dominant players in the home mortgage arena - Fannie Mae and Freddie Mac - finally made the decision to overhaul their outdated credit scoring systems to increase home-ownership opportunities for a broader array of consumers, ... » Learn More about Fannie, Freddie delay new credit scoring systems
Mortgage Tips
Quite a few people today don’t fully understand credit ratings
Consumers' understanding of credit ratings eroded during the last year, as reported by the seventh annual credit score survey, released by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC. For instance, fewer people knew that credit ratings can be used by companies that ... » Learn More about Quite a few people today don’t fully understand credit ratings
Widespread refis ignited housing problems
Mortgage refinance activity may have been the true hidden culprit behind the housing crisis, according to a new report by the Urban Institute (UI) written by Laurie Goodman, co-director of UI's Housing Finance Policy Center. Widespread refis ignited housing problems Mortgage ... » Learn More about Widespread refis ignited housing problems
The zero-down mortgage? It’s generating a comeback
Buyers may soon be able to bring less to closing. These types of mortgages were blamed for precipitating the housing crisis years ago, but major lenders are giving the no- and low-down payment mortgage another shot. The zero-down mortgage? It’s generating a comeback Several major ... » Learn More about The zero-down mortgage? It’s generating a comeback
HARP Continues to Help Upside down Homeowners
The Home Affordable Refinance Program or HARP may be in its waning days, but is still being used by upside down homeowners. The Federal Housing Finance Agency (FHFA) released its Q1 Refinance Report showing that Fannie Mae and Freddie Mac completed over a half million refinances throughout the ... » Learn More about HARP Continues to Help Upside down Homeowners
