Mortgage Volume Dropping Due to Tougher Lender Laws

Due to a widespread drop in mortgage transactions throughout the country, Wells Fargo has lowered its requirements for loans on some high-priced homes as the largest U.S. mortgage lender tries to combat. The government’s new regulations that went into effect in January have made mortgage approvals a lot more difficult for home buyers seeking to Read more about Mortgage Volume Dropping Due to Tougher Lender Laws[…]

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5 Ways to Buy a Million Dollar Home

The housing market has never had a period where the percentage of all-cash buyers are one-third of all purchase in loans under the jumbo loan limit.  With all the hoops borrowers have to jump through for conforming Freddie and Fannie Mae products, they simply paid cash. In the non-conforming category, all-cash buyers represented 36% of Read more about 5 Ways to Buy a Million Dollar Home[…]

Lenders Becoming More Lenient in Healthy Housing Market

Since the housing market is returning to a healthier condition, investors are increasingly taking notice of the high-end of the market which includes borrowers who use jumbo mortgage products. On the rise in this sector are more underwriting approvals and loan closings, while on the down side the minimum credit score to qualify for non-conforming Read more about Lenders Becoming More Lenient in Healthy Housing Market[…]

Is the Housing Market About to Get Squeezed with Lower Loan Limits?

Mortgage news is out that Fannie Mae and Freddie Mac, the largest providers in the mortgage industry, might be reducing their maximum loan amount sometime next spring. This means borrowers who don’t qualify according to the revised limits will be required to apply for a jumbo loan, where requirements for liquid reserves, down payments, and Read more about Is the Housing Market About to Get Squeezed with Lower Loan Limits?[…]