Interest rates have been at historically low levels for some time now and some borrowers have refinanced two or three times, but there are others who so far have allowed the opportunity to pass them by. I am not referring to borrowers who can’t possibly meet today’s standards. They haven’t refinanced because they can’t. My …
Economists at the Mortgage Bankers Association and mortgage giants Fannie Mae and Freddie Mac are predicting that growth in housing sales and price stability will boost demand for purchase mortgages next year. The Mortgage Bankers Association expects purchase loan originations to grow by 16 percent next year, to $585 billion from an estimated $503 billion …
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Tight mortgage lending standards have dashed the hopes of many would-be home buyers, but the developers of the most-popular credit risk score has revealed some habits and behaviors of “high achievers” with FICO scores above 785. More than 50 million people — about a quarter of all people with credit scores — are considered high …
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Two possibilities for expanding private sector lending The future of Fannie Mae and Freddie Mac, the two secondary market behemoths that became wards of the federal government in September 2008, is in limbo. Virtually all politicians on the national scene would like to get rid of them, none more than their previous political champions for …
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