Wed.Jan 20, 2021

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5 tips for finding the right mortgage lender for you

Housing Wire

Before you buy a home is you should first do some research. And not just research on the best down payment or neighborhood to live in – you should also search the right mortgage lender. . The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. The good news, it’s easy to find a mortgage lender. Due to the current boom in housing, lenders have ramped up their advertising, to stay competitive.

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Low Appraisals – 5 Options When Appraisals Come In Low

JMV Lending

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. Below are five of the options available when an appraisal comes in under contract price. 1. Rebut the appraisal. This approach […]. The post Low Appraisals – 5 Options When Appraisals Come In Low appeared first on JVM Lending.

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Don’t let COVID crisis mask affordable housing opportunity

Housing Wire

As the U.S. rushes to inoculate the current global health crisis, the real estate and mortgage finance industries are facing their second wave of significant industry headwinds in little over a decade. Though the pandemic is causing pain throughout the housing sector, it also creates an opportunity to enact common-sense industry reforms that address the root causes of the affordable housing crisis that has beset the market for over a decade — even amid a period of strong economic expansion.

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With Rates at Record Lows, Affordability Grows for House Hunters

PennyMac

Have you been keeping a close eye on today’s housing market? If the answer is “yes,” then you’re well aware that interest rates are at historic lows. But if you’ve been holding off for just the right moment until home prices and financing options meet miraculously in your favor, there’s really no reason to wait any longer.

Sellers 36
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Here’s how to find property owners ready to sell

Housing Wire

As 2021 unfolds, the real estate industry is still dealing with ongoing concerns introduced and exacerbated by the COVID-19 pandemic last year, leaving agents and brokers facing multiple challenges with their work. “There’s still a massive amount of buyers and not enough inventory,” said Tyler White, Senior Vice President of Operations at PropStream, a real estate data provider.

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Mortgage applications decrease as rates move higher

Housing Wire

Mortgage applications decreased 1.9% for the week ending Jan. 15 from one week earlier , per data from the Mortgage Bankers Association’s weekly survey. The drop comes after a robust 16.7% jump in applications the prior week. The 30-year fixed rate rose to 2.92%, its highest level since last November. Additionally, the 15-year fixed rate increased for the first time in seven weeks to 2.48%. “Market expectations of a larger than anticipated fiscal relief package , which is expected to furth

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FHFA ponders climate risk for Fannie and Freddie

Housing Wire

The Federal Housing Finance Agency (FHFA) announced Tuesday that it is requesting input on the current and future risk of natural disasters and climate change on Fannie Mae and Freddie Mac , especially as it relates to the housing financial system overall. The Request for Input (RFI) – available for comments until Apr. 19, 2021 – opens the floor on 26 different questions that decipher how the FHFA should define climate and natural disaster risk, the risk management strategies the FHFA should de

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Biden’s executive order will extend foreclosure moratorium

Housing Wire

Following his inauguration on Wednesday, President Joe Biden revealed that he plans to sign 17 executive orders his first day in office, including a further extension of the eviction and foreclosure moratorium to at least March 31. Brian Deese, Biden’s choice to lead the National Economic Council , said the president will call upon the Centers for Disease Control and Prevention and the departments of Veterans Affairs , Agriculture and Housing and Housing and Urban Development , to aid in an imme

Landlords 542
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HUD declares FHA once again backing DACA mortgages

Housing Wire

In one of former President Donald Trump administration’s last acts, the U.S. Department of Housing and Urban Development declared Wednesday that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. HUD said DACA recipients who are legally permitted to work in the U.S. are eligible to apply for mortgages backed by the FHA.

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CFPB Director Kathy Kraninger resigns at Biden’s request

Housing Wire

Consumer Financial Protection Bureau Director Kathy Kraninger announced Wednesday she is resigning from her post at the request of President Joe Biden’s administration. “As requested by the Biden administration, today I resigned as Director of the CFPB,” Kraninger said. “I am proud of all that we accomplished on behalf of consumers. It has been an honor to lead the agency during these challenging times.”.

Law 539
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Housing industry welcomes President Joe Biden

Housing Wire

On Wednesday, President Joe Biden was sworn in as the 46th president of the United States, and Vice President Kamala Harris became the first woman to serve in the office. In his inaugural address, Biden pledged his commitment to bringing all Americans together and to democracy. “Hear me out as we move forward,” he said. “Take a piece of my heart. If you still disagree that’s ok, that’s democracy…Do you hear me clearly?

Realtors 414