For borrowers, the new rule could make it harder to qualify for ARMs since all lenders will be using rates that are higher than the initial rate available on this loan. Experts say it could lead to fewer ARM originations once the rule is implemented.
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More