by mdibrino@hqmloans.com | May 2, 2023 | Uncategorized
“When unscrupulous companies bait homeowners into unaffordable loans with exaggerated promises of energy bill savings, this can lead to serious financial distress,” said CFPB director Rohit Chopra. “We are proposing new rules that would require...
by mdibrino@hqmloans.com | May 1, 2023 | Uncategorized
Those historically low interest rates from the not-so-distant past changed the game for many: “When you’re looking at a 30-year mortgage that’s down in the threes, people that couldn’t afford to be a homeowner could now afford to be a homeowner,” Potter said. “They...
by mdibrino@hqmloans.com | May 1, 2023 | Uncategorized
Both Richardson and colleague Nate Fein of UMortgage in Pensacola broke down the details in a previous interview with Mortgage Professional America. To put the issue in greater context, they reminded of the last significant LLPA overhaul related to second homes. Hack...
by mdibrino@hqmloans.com | May 1, 2023 | Uncategorized
But in the process, the rate hikes typically lead to higher costs for many loans, from mortgages and auto purchases to credit cards and corporate borrowing, and heighten the risk of a recession. Most economists foresee a recession this year as a consequence. However,...
by mdibrino@hqmloans.com | May 1, 2023 | Uncategorized
It also points to the need for stronger standards applied to a broader set of firms, including more stringent stress testing and liquidity requirements, which could include additional capital or liquidity requirements, or limiting share buybacks, dividend payments, or...
by mdibrino@hqmloans.com | May 1, 2023 | Uncategorized
The Federal Housing Finance Agency made these changes to provide equitable and sustainable access to homeownership and shore up capital at Fannie Mae and Freddie Mac. Last October, the Housing Finance Agency eliminated fees for conventional loans for about 20% of...
