Items Tagged with 'Refinancing'

ARTICLES

  • FTC accuses SoFi of lying about loan savings in misleading ads

    Online lender allegedly overinflated savings claims on student loan refinances
    For more than two years, SoFi has been making misleading claims in its television, print, and online advertisements and lying about the amount of savings its loan refinancing programs would bring to borrowers, the Federal Trade Commission said Monday. According to the FTC, SoFi “deceptively advertised inflated figures” about loan refinances, basically claiming that it could save borrowers far more than is actually the case.
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  • Goodbye refi: Rising interest rates all but erase refinance demand

    Purchase loans now make up nearly 75% of all mortgages
    While mortgage interest rates dipped ever so slightly in the last week, they’ve been trending up for the majority of this year. And it appears that the consistent rise in interest rates this year has all but dried up refinance demand. Is it time to say goodbye to refis for a while? It certainly looks that way.
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  • For loan officers who want steady business in 2018, it’s time to embrace cash-out refinances

    Lenders hoping to boost their refi business this year need to change the way they sell
    Remember when it was easier to sell homeowners on refinances? Mortgage interest rates were low enough that most owners could save money each month with a traditional rate and term refinance. As interest rates have risen, that has changed and lenders hoping to boost their refi business this year need to change the way they sell. Instead of promoting the savings homeowners can get from lower interest rates, they may consider trying a new angle...
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  • Ginnie Mae reportedly boots two lenders from bond program over VA loan churning

    NewDay and Nations Lending sanctioned
    Ginnie Mae’s battle against a number of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages just went to another level. Ginnie Mae reportedly booted NewDay USA and Nations Lending from its primary mortgage bond program after threatening the lenders earlier this year over their abnormally high prepayment speeds.
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  • LendingTree unveils its own Zestimate-style home valuation tool

    Will help users identify when they have “actionable” home equity
    Consumer-facing home valuation tools, especially Zillow’s “Zestimate”, have long been a source of consternation in the housing industry. And while Zillow’s tool is mainly designed for people looking to buy or sell a home, there’s a new home valuation tool on the market for people looking to buy, sell, or mainly to refinance their mortgage. The company behind the new valuation tool: LendingTree.
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  • From HW Magazine

    HOT or NOT May: What's trending in housing right now

    Spring home-buying heats up, while refinances fizzle
    Despite the current lack of inventory in the housing market, homebuyers can still successfully close on a house with a low down payment, according to a survey of more than 800 Redfin real estate agents. The survey found half of agents reported that the typical down payment for successful buyers in their market was less than 20%, even though competition is extremely fierce.
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  • Black Knight: Fewer homeowners refinancing

    But foreclosure starts down
    Rates are near all-time lows. This should be great news for homebuyers, but despite this, homeowners are not refinancing their homes. According to a new report from Black Knight Financial Services, nearly 9 million people aren't taking advantage of this low-rate environment.
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