When applying for a mortgage we usually think in terms of credit scores and annual income. These terms have a broad general meaning but for purposes of a mortgage loan application, “income” is not just the number that shows up on a tax return. Assets Generate Income For instance,... Read more
Is the Federal Reserve moving to make mortgage loans more difficult to get?  In a cryptic and mysterious message to lenders, the Fed says that “prudent underwriting practices have deteriorated.” You read this and wonder what, exactly, is the Fed talking about?  The lending process has been greatly simplified during the... Read more