Downpayment Toward Equity Act proposes lifeline for disadvantaged homebuyers
Downpayment Toward Equity Act of 2021 One of President Joe Biden’s campaign promises was to help...
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Category: Loan Products
Are FHA-insured mortgages declining in popularity?
The dual crises of the COVID-19 pandemic and 2020 recession threatened a rise, if not surge, in...
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Additional refinancing fees delayed
The Adverse Market Refinance Fee has been delayed until December 2020, and interest rates sigh in relief.
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MIP, PMI, or neither?
This chart compares the costs and benefits of default insurance demanded by lenders on mortgages with LTVs exceeding 80%, and suggests the optimal financing path for homebuyers.
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ARMs are unattractive in 2020 as FRM rates fall
Use these charts to compare the average ARM rate with the 30-year FRM rate.
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DBO Bulletin Digest December 2019
Editor’s note — The California Department of Business Oversight (DBO) supervises, licenses and...
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LIBOR phaseout approaching
What will happen when the LIBOR expires in 2021?
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California mortgage loan originators down in 2019
The trend for state-licensed MLOs is down in 2019.
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FHA smooths the path for condo approvals
The FHA is now processing approvals for individual units in unapproved projects.
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California’s annual mortgage report card is out
Some noteworthy mortgage data is now available from the Home Mortgage Disclosure Act (HMDA).
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Is it a Section 32 loan?
The Home Ownership and Equity Protection Act (HOEPA) protects consumers against potential abuses in connection with high-cost home loans.
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Lower LTVs required for FHA, VA cash-out refinances
Cash-out refinances on FHA mortgages will need a minimum of 20% equity.
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DBO Bulletin Digest July 2019
A review of the July 2018 DBO Bulletin.
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California’s sanctuary policies protect homeownership
How does the controversial sanctuary state law help California real estate agents?
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Government-backed mortgages take off among servicemembers
The number of VA-guaranteed mortgages spiked during the 2008 recession and have only grown in popularity.
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Is it a violation of appraiser independence?
This video reviews the rules governing appraiser independence under the Truth-in-Lending Act, including prohibitions of conflicts of interest and deliberately inaccurate evaluations.
Read MoreAre they a customer under Regulation P?
This video reviews the Privacy of Consumer Financial Information, including the rules controlling the sharing of a mortgage applicant’s or borrower’s sensitive personal information.
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Freddie Mac tests manufactured housing financing program
Low- and moderate-income homebuyers now have more financing options when buying a manufactured home.
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A case for the ARM in 2019
ARMs can be a dangerous choice for homebuyers with little investment experience. But rising FRM rates and the prospect of future rate movement make ARMs an attractive option in 2019.
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CalVet program eclipsed by VA-guaranteed mortgages
Does the CalVet program provide a good value for veterans?
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