Author Archive

Mortgage Access Continues to Thaw

In the 2nd quarter of 2015, mortgage originators reported measured improvement in access to credit. While more lenders are offering credit outside of the pristine, conventional space, they remain pensive and the trend appears driven by an expansion of...

Lenders Cautious on TRID

On October 3rd, the new TILA RESAP Integrated Documentation (TRID) will be implemented. Under TRID, the current closing documentation is streamlined and features are added to help consumers better understand their financial commitment. Lenders were asked their impression of...

Spring’s Mortgage Market Thaw Continues This Summer

Every quarter, NAR surveys a panel of lenders who specialize in mortgages for home purchase. In the second quarter of 2015, lenders continued to expand access for borrowers. Despite a decline in the share of production that was non-QM,...

State and Local Down Payment Assistance is Important

One of the Federal Housing Administration’s (FHA) important functions is to provide insurance on low down payment mortgages. The majority of FHA-financed mortgages have a down payment of 3.5%. A homebuyer can get assistance for the down payment from...

For the FHA, Pricing Springs Eternal

Following several years of premium increases, the FHA implemented a 50 basis point reduction in its annual mortgage insurance fee in 2015.  The sharp reduction was expected to boost affordability for entry-level and disadvantaged home buyers and to stimulate...