As reported in Housing Wire's article dated July 16, 2021, mortgage industry cheers elimination of 50 basis point fee on most refinanced mortgages. This means homeowners will have access to MORE of their property's equity when they refinance starting in August 2021. This is GREAT news for homeowners … [Read more...]
Conforming Loan Limits Increase For 2021
Reported today by Kelsey Ramirez from HousingWire.com, The Federal Housing Finance Agency announced new conforming loan limits for Fannie Mae and Freddie Mac for 2021 to be $548,250 for standard 1 unit single family dwellings. That represents a 7.5% increase from 2020’s limit of $510,400 and marks … [Read more...]
Average U.S. Mortgage Rate Falls Below 3% For The First Time
Most home loan program rates are beginning to drop to Pre-Covid19 range, sparking many buyers and owners to get into the game and save big money on their monthly mortgage payments. Reported July 16, 2020 by HousingWire.com "The average U.S. mortgage rate fell below 3% for the first time according to … [Read more...]
U.S. Supreme Court Rules CFPB Structure Unconstitutional
In a landmark decision today, Monday June 29, 2020, the United States Supreme Court ruled the structure of the Consumer Finance Protection Bureau, (CFPB) unconstitutional. They also diluted the protection of that department's leadership role by giving the President of the United States power to … [Read more...]
Mortgage Forbearance Clarity Offered By FHFA
Yesterday brought some good news from the Mortgage Bankers Association, (MBA) to those people utilizing the Covid-19 mortgage forbearance option during this difficult time. FHFA Director Mark Calabria, speaking Tuesday, May 19th, 2020 at a Mortgage Bankers Association event called, "MBA Live: … [Read more...]
