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[…]
There’s a new loan product rising in popularity for homes in affluent neighborhoods as it pertains to ARMs, also known as adjustable rate mortgages. The new product is the jumbo 5/5 ARM. This loan is a five-year ARM but the interest rate is fixed during those initial five years, After the first five years, the Read more about Lenders Seeing Popularity in their New ARM Product[…]
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[…]