Browsing Tag:Rules

what-is-streamline-refinancing-streamline-refi-charges-guidelines
The Streamline Refi is one of the best refinancing optionsFHA, VA, and USDA mortgages make up a massive part of the home buying market.But homeowners with these loan types aren’t refinancing nearly as much as those with conventional loans via Fannie Mae and Freddie Mac.That seems odd, given that government–backed mortgages often have access to lower interest rates. And...
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2021-charges-and-money-out-guidelines
Refinance your second home: favorable rates and favorable termsMany homeowners refinance a second home to lower their interest rate, get rid of mortgage insurance, shorten their loan term, or withdraw money.While property values ​​for both secondary and primary residences have risen across the country, mortgage rates have remained low. If you lower the interest rate on your mortgage...
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fha-refi-mortgage-guidelines-you-want-to-know
Are you thinking about refinancing your home loan? An FHA mortgage allows you to refinance a conventional, VA, or other non-FHA mortgage, as well as an existing FHA home loan. Refinance is great for many reasons, but for some borrowers, a refi loan is especially important to get a more affordable mortgage with lower payments or a lower...
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reverse-mortgage-commerce-affiliation-seeks-readability-on-new-nbs-guidelines
The National Reverse Mortgage Lenders Association (NRMLA) has sent the US Department of Housing and Urban Development (HUD) a letter expressly requesting the Department to update the home equity conversion mortgage (HECM) loan documents and security tool, to meet the requirements of Non-Borrowing Spouse Protection (NBS) recently announced in a Mortgage Letter (ML).In the comments submitted by the association,...
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hud-revises-fha-mortgage-citizenship-guidelines
The Department of Housing and Urban Development issued a press release announcing major changes in the way participating FHA lenders handle home loan applications that are completed by individuals who are in the United States but are not US citizens. The amended policy allows a lender to approve FHA home loans for individuals in the United States under the...
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court-docket-guidelines-in-favor-of-nationstar-in-reverse-mortgage-servicing-portfolio-dispute
A dispute arising from a 2015 sales agreement in which Nationstar Mortgage acquired the reverse mortgage service portfolio of former reverse mortgage lender Generation Mortgage was ruled in favor of Nationstar, which sought compensation from Generation for certain losses in the purchased service Portfolio has requested. This is evident from court documents received from RMD.Since the original case...
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distinctive-fha-development-mortgage-guidelines
Building a home from scratch to your specifications can be more exciting than buying an existing structure. Some borrowers prefer to have more control over the design of their homes and this is where an FHA One-Time Close Home Loan comes in.If you are looking to build a home on your own property with a construction-to-permanent loan, also...
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