It’s not a great situation, but tough times on Wall Street can result in lower mortgage rates. Here’s why.
The latest mortgage news indicates that HAMP denial rates are easing; see why you might find it easier to get a loan modified under the program now.
While no one, regardless of income, really likes getting a mortgage, it does seem that upper-income borrowers are better at it. A January 2014 survey by mortgage colossus Fannie Mae found that higher-earning borrowers chose lenders with the most competitive rates. They were more likely to shop online, obtain multiple... Read more
A recent LendingTree survey of 609 consumers (conducted online by Research Data Technology, Inc.) concluded that its respondents have a pretty sunny view of the US economy and real estate markets. With 69 percent of respondents claiming to have positive expectations for the housing sector and 63 percent saying... Read more
Millions of people use sites like Yelp and TripAdvisor to find restaurants or plan vacations. Getting the inside scoop from those who have been there before you just makes sense. So why wouldn’t you do the same thing when you look for a mortgage? Isn’t a loan you might... Read more
LendingTree recently analyzed the fiscal fitness of prospective borrowers nationwide, ranking each state according to its borrower health score. This score is based on a 100-point scale combining average credit scores, loan-to-values and overall strength of LendingTree mortgage requests in each state for the second quarter of 2013. Washington,... Read more
A few years ago, the Miami Herald broke the news that over 5,000 of Florida’s mortgage loan officers were felons who’d been convicted of various frauds. Amazingly, it was legal for them to work in a field that provided so many opportunities to rip off their clients. State mortgage licensing requirements... Read more
This week, LendingTree reported that average down payments have dropped 9.4% since May 2011. This suggests that mortgage lenders’ underwriting standards may be relaxing somewhat. A look at the standards of major mortgage insurers in the US, bears this out. For example, in 2007, mortgage insurer PMI guaranteed mortgages... Read more