Why are there separate title policies for owners and lenders? There are two types of title insurance: owner’s title insurance, called an Owner’s Policy, and lender’s title insurance, called a Loan Policy. Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is usually based on the dollar amount of …
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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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Borrowers in Negative Equity Declining as Home Values Gain: Report “About 600,000 borrowers rose above negative equity in the second quarter of 2012, CoreLogic reported Wednesday. According to the company’s analysis, 10.8 million, or 22.3 percent, of residential properties with a mortgage remained underwater for the second quarter of 2012. The second quarter figure is …
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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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