Consumer Financial Protection Bureau (CFPB) recently issued new Qualified Mortgage (QM) Rules to set and standardize underwriting standards. The new regulations are mandated under the Dodd-Frank Act and are expected to put a check on the lending practices that drove the industry to infamous housing bubble
Getting a home loan is anything but simple. Though there are many lenders out there ready to lend you at the most competitive rates, it still takes a great deal of time, effort and resources to find the right mortgage lenders offering the right mortgage
The year 2014 is expected to bring a significant transition to the mortgage industry. Here are the top 5 mortgage trends, good and bad for this year. 1. Mortgage rates likely to rise in 2014 Fannie Mae and Freddie Mac recently announced an increase in mortgage fees.
The Fair Credit Reporting Act (FCRA) is a federal law, passed in 1970, pertaining to standardization of the credit reporting system. The act consists of provisions for the following:● Protecting the privacy rights of consumers● Standardizing the way credit information is used and maintained● Ensuring
You are about to make the most important financial decision in your life – Getting a mortgage. When it comes to mortgage, the competition is fierce and it is crucial that you choose your lender wisely. Here are a few characteristics that are common to
Surprises are not always good! When it comes to mortgage, you have to make sure you understand all the fees and charges involved before making a choice. Amidst the thick pile of paperwork filled with the technical jargons, one gets tempted to skip the details and
PART II How Do I Get the Loan Amount? You can get the loan amount in any of the 3 ways you wish to: • As a lump sum• As a line of credit• As regular payments Needless to say, most of the borrowers go for the ‘line of
PART I How would you react to a deal where you get to en-cash your home equity without having to move out of the property, sell the property or repay anything at all? It may be hard to believe that such a debt instrument exists. But
Simply put, refinancing is paying off an existing mortgage by setting up a new one.There can be more than one reason why one considers refinancing his/her mortgage. But refinancing doesn’t come for free. There’s a substantial cost to bear (that can be up to 6%
A Quick Guide for Job Applicants and Employers to Deal with it Hi my name is Tom. I am a software engineer. Recently, I got a job opportunity in one of the big software firms in Seattle. I aced the interview and bagged the offer. Though