Loan Products | firsttuesday Journal

Additional refinancing fees delayed

by Carrie B. Reyes | Sep 1, 2020 | 2020 Recession, Finance, Fundamentals, Interest Rates, Loan Products | 0

The Adverse Market Refinance Fee has been delayed until December 2020, and interest rates sigh in relief.

MIP, PMI, or neither?

by ft Editorial Staff | Aug 13, 2020 | Charts, Loan Products, Real Estate | 2

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.

ARMs are unattractive in 2020 as FRM rates fall

by ft Editorial Staff | Aug 6, 2020 | Charts, Loan Products, Real Estate | 0

Use these charts to compare the average ARM rate with the 30-year FRM rate.

DBO Bulletin Digest December 2019

by ft Editorial Staff | Dec 18, 2019 | Finance, Laws and Regulations, Loan Products, New Laws, Real Estate | 0

Editor’s note — The California Department of Business Oversight (DBO) supervises, licenses and...

LIBOR phaseout approaching

by Carrie B. Reyes | Dec 4, 2019 | Loan Products | 0

What will happen when the LIBOR expires in 2021?

California mortgage loan originators down in 2019

by ft Editorial Staff | Nov 24, 2019 | Charts, Licensing and Education, Loan Products, Real Estate | 1

The trend for state-licensed MLOs is down in 2019.

FHA smooths the path for condo approvals

by Carrie B. Reyes | Oct 23, 2019 | Loan Products | 0

The FHA is now processing approvals for individual units in unapproved projects.

California’s annual mortgage report card is out

by Carrie B. Reyes | Oct 9, 2019 | Finance, Loan Products | 0

Some noteworthy mortgage data is now available from the Home Mortgage Disclosure Act (HMDA).

Is it a Section 32 loan?

by ft Editorial Staff | Oct 1, 2019 | Loan Products, Real Estate, Video | 0

The Home Ownership and Equity Protection Act (HOEPA) protects consumers against potential abuses in connection with high-cost home loans.

Lower LTVs required for FHA, VA cash-out refinances

by ft Editorial Staff | Aug 14, 2019 | Loan Products | 0

Cash-out refinances on FHA mortgages will need a minimum of 20% equity.

DBO Bulletin Digest July 2019

by ft Editorial Staff | Jul 23, 2019 | Finance, Loan Products, Real Estate | 0

A review of the July 2018 DBO Bulletin.

California’s sanctuary policies protect homeownership

by ft Editorial Staff | Apr 30, 2019 | Finance, Laws and Regulations, Loan Products, Real Estate | 9

How does the controversial sanctuary state law help California real estate agents?

Government-backed mortgages take off among servicemembers

by Oscar Alvarez | Apr 17, 2019 | Finance, Loan Products, Real Estate | 0

The number of VA-guaranteed mortgages spiked during the 2008 recession and have only grown in popularity.

Is it a violation of appraiser independence?

by ft Editorial Staff | Mar 21, 2019 | Finance, Laws and Regulations, Loan Products, Real Estate, Video, Your Practice | 0

This video reviews the rules governing appraiser independence under the Truth-in-Lending Act, including prohibitions of conflicts of interest and deliberately inaccurate evaluations.

Are they a customer under Regulation P?

by Oscar Alvarez | Feb 26, 2019 | Finance, Loan Products, Real Estate, Video | 0

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.

Freddie Mac tests manufactured housing financing program

by Oscar Alvarez | Jan 29, 2019 | Finance, Loan Products, Real Estate | 1

Low- and moderate-income homebuyers now have more financing options when buying a manufactured home.

A case for the ARM in 2019

by Carrie B. Reyes | Jan 28, 2019 | Feature Articles, Interest Rates, Loan Products | 0

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.