Second mortgages back in vogue for low down payment purchases
Piggyback mortgages resurface — but memory of the harrowing financial crisis will keep their abuse at bay.
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Tag: mortgage insurance
Homebuyers weigh mortgage rate options; Monthly Statistical Update (May 2016)
How long will low FRM rates last?; Higher ARM rates are less attractive; PMI — more expensive, but shorter-lived than MIP
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FHA tightens the reins on reverse mortgage lending — again
FHA reverse mortgage applicants now have to prove they can carry property costs.
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MGIC suffers another loss, twice-told tales
MGIC Investment Corp. (MGIC), the private mortgage insurer (PMI), has reported its...
Read MoreDown payment insurance: a nice idea in Wonderland
People will begin buying homes again if the federal government protects their down payment from risk of loss, according to University of California economist, James A. Wilcox. Wilcox claims that there is a vast nationwide demand...
Read MoreThe true costs of a default-insured mortgage
This article exposes the inclusion of default insurance premiums and impounds as part of the total monthly payment on an FHA-insured loan, and their effect on the amount the homebuyer is qualified to borrow. Similarly discussed are the costs of private mortgage insurance (PMI).
Read MorePrivate mortgage insurers come back to California as FHA raises eligibility requirements
The private mortgage insurance industry (PMI) is no longer boycotting California. Some of the largest private insurers in the nation, including PMI, Genworth and MGIC, have returned to the California market after abandoning the...
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