by kramoltz@hotmail.com | Dec 30, 2016 | Mortgages + Lending
Not too long ago in Banks Leaving the Mortgage Business, I wrote about a report that large #banks have left the home #loan market – originating just 52% mortgages in 2014, down from more than 70% seven years earlier. But bank portfolio loans (the mortgages they make...
by kramoltz@hotmail.com | Oct 19, 2016 | Home Buying, Mortgages + Lending, Selling Your Home
Loan Related. Like many pre-paids, these are the sums paid to the buyer’s lender or as a result of the lender’s requirements. Examples include a credit report fee, flood certificate fee, and a tax service fee. Fees payable directly to the lender, such as discount and...
by kramoltz@hotmail.com | Oct 17, 2016 | Home Buying, Mortgages + Lending
A recent NAR survey of more than 2,700 Americans showed that more than 80% of consumers across all ages, income brackets, and education levels believed a down payment of 10% percent or more was required to purchase a home. However, the average median down payment for...
by kramoltz@hotmail.com | Aug 31, 2016 | Mortgages + Lending
Mortgage rates continue to hover around all-time lows, with the 30-year fixed-rate averaging around 3.43% this week, making this the ninth consecutive week that mortgage rates have been below 3.5%. Want even a lower rate? 15-year fixed-rate mortgages averaged...
by kramoltz@hotmail.com | Jul 1, 2016 | Mortgages + Lending
MPA Magazine reports that large banks are leaving the home mortgage business. They originated just 52% mortgages in 2014, down from more than 70% seven years earlier. The magazine cites the CEO of BankUnited (a Florida based bank) who said “We can’t make money in the...
by kramoltz@hotmail.com | Jun 27, 2016 | Mortgages + Lending
Over the past few years the federal government and lenders have taken several steps to open up the credit box. Signs that the efforts were paying off came last fall when credit scores on closed loans lowered to 723. As of April 2016, the average FICO score was still...
