Top Mortgage Mistakes to Avoid as a Homebuyer
Buying a home is one of life’s biggest financial steps, and navigating the mortgage process can feel overwhelming. But with the right guidance, you can sidestep common pitfalls and secure the best possible loan for your needs. Southern Home Loans, powered by Luminate Bank, is here to help you avoid these top mortgage mistakes, ensuring […]
CFPB looks certain to survive as judge pushes back on Trump cuts
“So for our industry, the biggest worry was that they would delete the bureau or essentially carve it out – that all of its responsibilities and rules and regulations would still be in place but frozen in time. And from the industry standpoint, that was not ideal.” Is the CFPB remaining in place a good […]
Understanding FHA Streamline Refinance: An Easy Path to Lower Mortgage Payments
For many homeowners with an existing Federal Housing Administration (FHA) loan, refinancing can often seem like a daunting task filled with extensive paperwork and meticulous credit requirements. However, the FHA Streamline Refinance program is designed to simplify the process, making it faster and less cumbersome to reduce your interest rate and monthly mortgage payment. This […]
Will Rocket take over the (mortgage) world?
“Home search, brokerage, financing, title, closing and servicing should be seamless, but today they’re not,” Mr. Krishna said on a call with analysts. “If we truly want to fix that, we have to own the client experience from beginning to its true end.” The timing is no accident. After a historic boom in home sales […]
Understanding VA Streamline Refinance: Simplifying Home Loans for Military and Veterans
The VA Streamline Refinance, also known as the Interest Rate Reduction Refinance Loan (IRRRL), is a program specifically designed for veterans and active military members looking to reduce their mortgage rates and lower their monthly payments. This refinancing option, backed by the U.S. Department of Veterans Affairs (VA), offers significant benefits tailored to the needs […]
Fed to slash rates by more than expected as recession risks surge: Goldman
Goldman’s call is its highest expectation for a recession since the regional banking crisis triggered by the collapse of Silicon Valley Bank and Signature Bank in 2023, and is sparked by what it describes as the “sharp recent deterioration in household and business confidence, and statements from White House officials indicating greater willingness to tolerate […]
Rebuilding Hope: How the FHA 203(h) Mortgage Aids Disaster Victims in Purchasing a New Home
In the aftermath of a disaster, recovery and rebuilding can seem daunting. However, there is a ray of hope for those who have lost their homes due to severe weather events or other catastrophes. The FHA 203(h) Mortgage Insurance for Disaster Victims Program is designed specifically to aid individuals in Presidentially-Declared Major Disaster Areas (PDMDA). […]
Mortgage brokers to FHFA: Don’t exclude non-permanent resident borrowers
“FHA’s recent move to remove this borrower category from its Single-Family Title I and II programs effectively blocks these individuals from using FHA-insured loans,” NAMB wrote. “If FHFA were to follow suit with similar policy changes at the GSE level, the impact could be far-reaching.” The letter outlined several risks. NAMB warned of a potential […]
Is a Newly Built Home the Right Choice for You? Weighing the Pros and Cons
If you’re in the market for a home, don’t overlook the possibility of buying new construction. With an increase in newly built homes available, you have more choices than usual—and that comes with some pretty compelling advantages. Before making your decision, it’s important to weigh both the benefits and potential drawbacks of a brand-new home. […]
Rocket to acquire Mr. Cooper
Mr. Cooper Group chairman and chief executive officer Jay Bray will become president and CEO of Rocket Mortgage, according to a press release, while Dan Gilbert will remain chairman of Rocket Companies. The combined board will feature nine members from the board of Rocket and two from the board of Mr. Cooper. Rocket said the […]