Has The Mortgage Refinancing Season Ended Mortgage refinancing has become as exciting as watching the stock market. The once droll and wonderful (for home owners) business of seeing interests remain pretty much stable while house prices increased with any sign of stopping has been exchanged for the much more exciting activity of seeing how low the interest rates can be … [Read more...] about Has The Mortgage Refinancing Season Ended
"Borrowers are increasingly taking advantage of the low mortgage rates available in the market today," said Tom Lund, Executive Vice President, Single-Family Mortgage Business for Fannie Mae and one of four top execs recieving retention bonuses. "We anticipate that volumes will increase even more as millions of additional homeowners become eligible to refinance under the … [Read more...] about Fannie Mae execs get bonuses as refinancing volume triples
Because good rates don't do any good when no one can qualify, Fannie Mae is relaxing underwriting standards to make it easier for homeowners to refinance (h/t Mortgage Insider). They'll be loosening credit, appraisal and income requirements in order to open up the tight refi market. From Bloomberg: Fannie Mae will drop some credit-score requirements, reduce … [Read more...] about Fannie to Loosen Underwriting Guidelines
The Internal Revenue Service (IRS) is giving struggling American homeowners a gift this holiday season. No, they aren't canceling homeowners' tax debt. They are, however, making it easier for distressed homeowners to avoid having a federal tax lien block the sale or refinancing of a home. They are also expediting the process for requesting a discharge or subordination of a tax … [Read more...] about IRS Speeds Lien Relief
A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment. There's no question that the economy, both domestically and globally speaking, is in pretty bad shape. Businesses are failing, jobs are being lost, … [Read more...] about Is It Too Late to Rescue Mortgages?