Tag Archives: mortgage lending

Usually when financial times are tough like they are today in this country you don’t see much adversity in mortgage lending. Oh sure, the usual suspects, banks and credit unions will continue to have a tight reign on who the borrowers are and verification of the ever popular FICO scores required in order to avoid the calamity of previous years. But conventional loan refinances are still competitive and refinancing applications still trickle into many lenders. But it’s not the deluge they acknowledged in the past 24 months due mostly to the financial jargon called “cherry picking.” Ergo, if you’re not a member in good standing in the “cherry picking’ crowd, you’ll have to look elsewhere for your refinancing loan.

The fact remains that you can search online everyday and twice on Sunday for the best refinancing, and not come close to locating anything better than an FHA Streamline refinance loan. It’s an amazing loan loaded with a barrel-full of advantages for any current FHA mortgage holder. It’s the quickest way to reach “home base” if you’re still stranded on “3rd base” wishing to replace an existing FHA loan you’ve been suffering with for a year or two with an interest rate you don’t like. Continue reading

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A recent report from the Federal National Mortgage Association, or Fannie Mae, indicates that the home mortgage market is improving. The report indicates higher loan purchases and fewer loan delinquencies, both good signs of housing recovery.

In many ways, the financial health of Fannie Mae mirrors the health of the mortgage market in general. Fannie Mae was created as government sponsored entity (GSE) as a part of the New Deal in the 1930s to help the country to recover from the Great Depression. The GSE helped to stimulate growth in mortgage lending by creating a secondary mortgage market to ensure that there would be plenty of funds available to mortgage lenders use in creating new loans. Fannie Mae has been important to the home mortgage market in the United States ever since.
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Basel III is the international agreement made in 2010 by members of the Basel Committee on Banking Supervision to make the banking system more resilient after the recent collapse of the economy back in 2007. The economy continued to show signs of weakness well into 2009, which is why Basel III was deemed a necessary provision to help banks better absorb significant losses and also prevent them from hurting the economy by taking unnecessary risks.

Among all of the many changes lending banks have had to undergo in the past few years, the most significant change came with capital requirements. Ironically, the regulations intended to fix all of the past problems in the banking system has come with a backlash. Banking regulations adhering to Basel III requirements, more often than not, has created stricter rules on credit availability and has increased lending costs. With this occurring, higher costs for a home loan in Houston, Dallas, and Austin is becoming an ever increasing reality. Continue reading

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This is a question that has currently hit the market. Mortgage borrowers would wish the interests rates to remain low, so that they have the opportunity to borrow at such low rates. This is somehow possible, but not a guarantee … Continue reading

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