Category Archives: Mortgage Loan

Fewer U.S. consumers fell behind on their home loans and credit card payments in the second quarter, reports TransUnion. The rate of borrowers 60 days or more past due on their mortgages slipped to 5.49 percent from 5.78 percent in the first quarter of 2012.  TransUnion expects mortgage delinquencies to continue to fall for the rest of the year as the economy slowly improves. “The economy has not grown at a robust rate, but it does continue to slowly improve and we believe the improvement in mortgage drMmelinquencies will follow […]

The Securities and Exchange Commission (SEC) has dropped plans to seek a civil enforcement action against Goldman Sachs over a $1.3 billion subprime mortgage deal. The regulators have spent the last six months looking into claims that Goldman deceived investors about the quality of the securities it sold in 2006.  The firm received SEC confirmation on Aug. 6 that it had been cleared of wrongdoing.   The author of this article is: realtormag.realtor.org  See the original post at: http://realtormag.realtor.org/daily-news/2012/08/10/goldman-sachs-cleared-in-mortgage-probe At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, […]

About a third of all Fannie Mae and Freddie Mac loans refinanced in June went through the recently revamped Home Affordable Refinancing Program (HARP). That’s up from a 20 percent share in April. Additionally, the number of HARP refinancing deals with high loan-to-value (LTV) ratios went up substantially. According to Mortgage News Daily, changes to the previous HARP program, such as removing the 125 percent LTV ceiling and eliminating fees, seem to be driving increased participation. Freddie and Fannie refinanced 382,539 loans in June, 125,866 of which were though HARP. […]

Closing costs have dropped by 7 percent over the last year, according to an annual survey on closing costs conducted by Bankrate.com. Closing costs average $3,754 nationwide. Title insurance and other third-party fees also saw a drop in the last year, falling 12 percent, and origination fees fell 1 percent, according to Bankrate.com’s survey. “This is the second year in which lenders are required to estimate third-party fees within 10 percent of the final cost. It seems like they’re getting more accurate, which helps explain the sharp decrease in these […]

Following a 13-week record-low streak, 30-year fixed-rate mortgages—the most popular choice among home buyers—started moving back up this week, according to Freddie Mac’s weekly mortgage market survey. The average 30-year mortgage had dropped or matched record lows in 13 of the last 14 weeks. But this week, mixed economic news prompted mortgage rates to rise higher. “Recent announcements of additional debt relief for the Eurozone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week,” says Frank Nothaft, Freddie Mac’s chief economist. […]

Mortgage applications for refinancing soared to its highest level in three years, the Mortgage Bankers Association reported Wednesday in its weekly survey. Record low interest rates are prompting more home owners to try to lock in savings to their monthly mortgage bills. Overall mortgage applications — which includes those for refinancings and for home purchases — inched up last week by 0.2 percent. The increase was driven by the surge in refinancings, which rose 0.8 percent from last week and was at its highest level since April 2009. Meanwhile, mortgage […]

When it comes to mortgages and home improvement, many consumers have some complaints, according to a new survey by the Consumer Federation of America, which reveals the top consumer complaints of last year. Among its list of 2011 top “worst” consumer gripes: mortgage-related problems, home improvement, timeshare sales and resales, Internet sales, and fraud. Many of the mortgage complaints stem from the foreclosure crisis and home owners who owe more on their loans than their homes are currently worth, according to the study, be sure you checkout this blog. Home […]

Low appraisals have been blamed on delaying—or even canceling—many real estate transactions over the last few years. While real estate professionals are limited in how much involvement they can have in the appraisal process, they can do a few important things to help ensure their sellers receive a fair valuation. Be there. Appraisers and other real estate agents say that being present at the home’s appraisal is important. Agents can respond to any possible questions the appraiser might have as he or she is valuing the property. However, agents need […]

Market concern over the strength of the economic recovery took Treasury yields to new depths, causing both 30- and 15-year fixed-rate mortgages to continue tumbling to historic lows. The Freddie Mac survey showed 30-year FRM averaged 3.49% for the week ending Thursday, a record low from last week’s 3.53%. Last year at this time, the 30-year FRM averaged 4.55%. The 15-year FRM, a popular refinancing choice, also set a new record, averaging 2.8%, down from last week‘s average of 2.83%. A year ago, the average rate for a 15-year FRM […]

The 30-year fixed-rate mortgage — the most popular choice among home buyers — is now a full percentage point lower than a year ago, Freddie Mac reports in its weekly mortgage market survey. Fixed-rate mortgages have been on a record-breaking streak the last few weeks, pushing home affordability even higher. “Market concerns over the strength of the economic recovery brought long-term Treasury yields to new lows this week allowing fixed mortgage rates to reach record levels,” says Frank Nothaft, Freddie Mac’s chief economist. Here’s a closer look at rates for […]