April 9, 2012 (Chris Moore) Getting a mortgage loan insured by the Federal Housing Administration (FHA) just got a little more expensive today as new fees designed to help replenish the agency’s depleted reserves kick in today according to the Department of Housing and Urban Development (HUD) […]
March 31, 2011 (Shirley Allen) The National Association of Realtors (NAR) has weighed in with their response to the “Qualified Residential Mortgage (QRM)” requirements set forth in the risk retention proposal by federal regulators. NAR claims that the high down payment requirement will unnecessarily burden home buyers and significantly impede the economic and housing recovery. [...]
February 23, 2011 (Jeff Alan) Wells Fargo & Co. has agreed to settle a lawsuit that alleges the bank harmed veterans by charging improperly high fees on mortgages. Wells Fargo has agreed to refund up to $10 million in fees to eligible military veterans who refinanced their mortgage with the bank. Wells Fargo has now [...]
October 11 2010 (Jeff Alan) Since very few people pay cash for a home, one of the most important steps in your purchase is finding a lender for your mortgage loan. The question is, should you deal directly with a lender or should you use a mortgage broker? There’s actually a big difference between the [...]
September 23 2010 (Shirley Allen) For the first time homebuyer, the term “closing costs” can be quite confusing. Learning about the different types of mortgages and trying to figure out the different interest rates can be confusing enough, but you have to pay at the end too? Read more...
September 17 2010 (Jeff Alan) With the passing of the Finance Reform Bill and the banning of a variety of fees – including certain overdraft and excessive late charges, banks and credit card companies are increasing existing fees and creatively finding ways to charge existing customers more for their services. Read more...
