First-time and move-up homebuyers with heavy debt loads, low credit scores and small down payments face a daunting new mortgage hurdle: The Federal Housing Administration is toughening its underwriting standards. Large numbers of applications could be turned down in the coming months as a result.
President Donald Trump has issued an order for the government to end its 10-year conservatorship of the mortgage companies Fannie Mae and Freddie Mac.
If you’re one of the millions of Americans who are self-employed or earn money on the side through freelance, contract or “gig” work, you may know the drill firsthand: Applying for a mortgage can be an intrusive ordeal.
It’s a real estate and social barometer that doesn’t get a lot of publicity, but it’s important: More Americans are paying their mortgages on time today than they have in nearly two decades
Earlier this month, organizations and stakeholders from across the finance ecosystem came together for Boston Fintech Week, a volunteer-led, grassroots effort that put together 35 free events in Downtown Boston.
Prices are up, interest rates are rising and it’s tough for a lot of people to qualify to buy a home. So what do some of them do? A growing number of them fake it.
Here’s some promising news for self-employed entrepreneurs, “gig” economy workers and small business owners: There’s a bipartisan push underway on Capitol Hill to make the home mortgage process a lot easier.
Is it easier today for homebuyers with a high debt ratio and sub-par credit scores to qualify for a mortgage than it’s been in years?
If you’re seriously thinking about buying a home in the months ahead, you almost certainly know how important your FICO credit score will be in getting a mortgage.
Do you really need an escrow account attached to your mortgage? Aren’t you capable of remembering when it’s time to pay tax and insurance bills? These questions suddenly are more controversial than you might guess.
The Millennials are at it again, disrupting another staple of American society and bending legacy establishments to their inexorable will.
Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $1.5 billion of benchmark bills at higher interest rates compared with last week’s sale of similar maturities.
For homeowners and buyers, it’s been an unexpected windfall: relief from having to pay for a traditional mortgage appraisal that usually costs between $400 and $600.
Stimulative fiscal policy is expected to provide a small boost to an already strong 2018 economic growth forecast, despite a projected first quarter slowdown, according to the Fannie Mae Economic and Strategic Research Group’s March 2018 Economic and Housing Outlook.
The Fannie Mae Home Purchase Sentiment Index fell 3.7 points in February to 85.8, reversing last month’s increase.
The U.S. Supreme Court on Tuesday declined to revive litigation in which shareholders accused the federal government of overstepping its authority when it restructured mortgage finance firms Fannie Mae and Freddie Mac following the 2008 housing crisis.
Despite a record-breaking past year in real estate, mortgage lenders are uneasy heading into 2018.
Mortgage lenders again reported a negative profit margin outlook for the next three months, citing competition as the primary reason and continuing a quarterly trend beginning the same time last year, according to Fannie Mae’s Q4 2017 Mortgage Lender Sentiment Survey.
The Fannie Mae Home Purchase Sentiment Index increased 2.6 points in November to 87.8, once again nearing its all-time high from September, according to Fannie Mae.
Here’s an important question for anyone hoping to buy a home next year but who isn’t quite confident about qualifying for a mortgage: Is it true that lenders have eased up on certain key requirements, making it simpler for first-time buyers and others who can’t pass all the strict tests to get approved?
