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Reverse purchase financing: The financing option no one is talking about

Housing Wire

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

Finance 421
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex.

Mortgage 393
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What role can mortgage brokers play in fair housing?

Housing Wire

There is a lack of financial literacy in schools and in many communities, and we want to help provide the tools people need to understand home buying and what that process looks like. We’re also working on finding solutions for the qualified mortgage and on issues surrounding flood insurance.

Mortgage 449