Category Archives: Mortgage Loan

The Federal Housing Finance Agency is pulling back from plans to revise the minimum servicing fees paid on Fannie Mae and Freddie Mac loans, and it also reportedly has abandoned a proposal to adopt a “fee for service” compensation model. The planned overhaul had generated much criticism from servicing advisory firms, particularly because no guidance was issued as to what servicers would earn on delinquent loans.   The author of this article is: realtormag.realtor.org  See the original post at: http://realtormag.realtor.org/daily-news/2012/02/02/fhfa-backing-away-servicing-fee-changes At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian […]

The percentage of delinquent mortgages held by Fannie Mae and Freddie Mac ended 2011 below levels seen a year earlier. The 30-plus-days delinquency rate on single-family homes on Fannie Mae’s book fell 0.09 points to 3.91% in December from the previous month after holding steady at 4% for three months, according to its monthly summary. The rate has either fallen or remained constant every month since December 2010 when the single-family delinquency rate was 4.48% The multifamily serious delinquency fate fell 0.01 point to 0.59% in December from the previous […]

Mortgage applications declined last week as the market braced for another two years of low, short-term interest rates, an industry trade group said Wednesday. The Mortgage Bankers Association’s market composite index — a measure of loan application volume — fell 2.9% on a seasonally adjusted basis from a week earlier. The refinance index fell 3.6% from the previous week and the seasonally adjusted purchase index declined 1.7%. The refinance share of mortgage activity fell to 80% of total applications, compared to 81.3% the previous week. “The Federal Reserve surprised the […]

Mortgage rates started to edge higher this week, after a series of recent positive reports showing the housing market on the mend, Freddie Mac reported in its weekly mortgage market survey. The 30-year fixed-rate mortgage after posting all-time record lows for the past three weeks reversed course this week and ticked up to 3.98 percent. Still, this is the eighth consecutive week that 30-year fixed-rate mortgages have remained below 4 percent, Freddie Mac reported. “Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high […]

Even if the promising mortgage refinancing plan President Obama announced Tuesday night passes Congress, critics say it will fall short of solving the deepest housing problems. The White House did not release great amounts of detail, but the plan would help homeowners current on their mortgage to refinance down to a lower rate and save an average $3,000 a year on payments. The plan widens the Home Affordable Refinance Program to include mortgages not guaranteed by Fannie Mae and Freddie Mac and would tax banks to raise funding. Analysts said […]

An early mortgage payoff can net substantial interest savings compared to making scheduled payments for 15 or 30 years. Paying off your mortgage might sound like an ambitious plan, especially if you have recently refinanced into a 30-year term. But it’s still smart for homeowners to give some serious thought as to how they’ll pay off their home loan; if not in 2012, then sometime. An early mortgage payoff can net substantial interest savings compared to making scheduled payments for 15 or 30 years. Paying more quickly reduces your housing […]

They offer yields so lofty they’re likely to fall. But mREITs may still have potential for investors. As bond, CD, and money market interest rates remain mired at rock-bottom levels, investors continue their quest for dividends. One category offers eye-popping yields: mortgage real estate investment trusts, or mREITs (which are required to pass most of their income to shareholders via dividends). Chimera Investment and American Capital Agency each yield more than 19%. And the largest mREIT, Annaly Capital Management — which we’ve recommended before– offers a 15% payout. Are these […]

Bank risk professionals believe Americans who are over leveraged on mortgage, student loan and credit card debt remain a risk to the broader economy, according to a FICO report. FICO drew that conclusion from a fourth-quarter survey of bank risk professionals conducted by the Professional Risk Managers’ International Association. Of those surveyed, 47% of risk managers say they expect mortgage delinquencies to rise, while 13% believe delinquencies will fall. FICO says that’s more pessimistic when comparing 4Q survey results to the previous quarter. Student debt also remains a concern, with […]

MetLife Inc., the nation’s largest insurer, announced Tuesday it is getting out of the mortgage-origination business and that it will no longer be accepting new mortgage applications as it prepares to shutter its residential mortgage unit. However, the company says MetLife Home Loans will continue to offer reverse mortgages as well as service its current mortgage customers. For any loan applications already in the pipeline, the company said it will continue to process those loans and expects most of the loans to close within 90 days. In October, MetLife had […]

Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period. The mortgage giants’ program currently allows six months of relief to the unemployed. Freddie Mac announced that the changes will take effect Feb. 1. However, Freddie officials say extended one-year forbearance period will be temporary, and borrowers will still be responsible for eventually owing the payments they’ve missed. Fannie Mae announced it also would be implementing […]