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  • HARP extended into 2017; FHFA plans new refinance program

    It's not over. Homeowners are yet again getting another chance from the Federal Housing Finance Agency to take advantage of the Home Affordable Refinance Program. The new deadline is now Sept. 30, 2017. But this time around, things are different. Click the headline to read more.

Do home buyers need mortgage brokers?

On Tuesday, Bank of America Corp. exited the wholesale mortgage lending business, limiting its dealings with mortgage brokers to focus on loans made directly to consumers and community banks. Some fear the move will leave fewer options for home buyers as they shop for the most competitive mortgage rates. Essentially, BofA’s decision means that Wells Fargo & Co. is the only major bank that’s willing to buy loans from mortgage brokers. Last year, JP Morgan Chase & Co. said it would no longer purchase loans originated by brokers, noting in an internal memo that loans originated by Chase professionals are less likely to default.

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