FHA Wont Allow Cancellation Of Mortgage Insurance Anymore; Increases Premium

FHA recently announced changes to mortgage insurance premium for home loans insured by the agency. The new guidelines will make FHA loans more expensive. You will also need to pay mortgage insurance for the life of the loan in most cases. Changes to FHA Annual Mortgage Insurance Premium The below chart shows the changes coming […]

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California 30 Year Fixed Mortgage Rates Climb For Third Consecutive Week

According to Mortgage Bankers Association (MBA) weekly survey, California mortgage rates increased again last week. The rates have now increased for five out of last six weeks. This is the third consecutive week that 30 year fixed rates have gone up. Overall the rates have gone up by .25% after hitting the lowest levels in […]

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Conforming Jumbo and FHA Mortgage Rates Rise For Second Consecutive Week

According to Mortgage Bankers Association’s (MBA) latest weekly survey, mortgage rates for conforming jumbo (also called High Balance Loans) and FHA loans increased again last week. This is second week in a row that the rates have gone up. And if that was not enough, by the end of Thursday, mortgage backed securities tanked by […]

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Why 30 Year Fixed Mortgage Rates Should Be At 2.75% And Why They Aren’t?

Ben Bernanke must be tearing his hair (whatever is left of it). He has increased Fed’s balance sheet to an all time high of almost $3 trillion mostly through bond purchases. But the mortgage rates haven’t declined as much he would have hoped. He is frustrated that the lower yield on mortgage backed securities are […]

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Buying a Home After Short Sale, Foreclosure, Bankruptcy or Charge Off

Mortgage Meltdown of 2007 and rapid depreciation in real estate prices post that, resulted in financial crisis for a lot of homeowners. As a result of which, several of them went through a foreclosure, short-sale or bankruptcy. If you are one of those you must be trying to find out – how soon you can […]

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A Slew Of New Guidelines Can Clip Mortgage Origination By 20%

Since the mortgage meltdown of 2007, the industry has been hit with a slew of regulations. While consumer advocates think much still needs to be done, industry insiders and some outside experts thing the pendulum has swung too much on the other side and is impacting the housing recovery. A recent study by American Action […]

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Fremont Mortgage Lender- Get Rate Quote For Refinance or Purchase

Looking for a top rated Fremont,CA mortgage lender/company to get a no closing cost rate quote for refinance or home purchase? You have reached the right place. Arcus Lending is a direct lender and has been featured on several national media like NBC, CBS, FOX, ABC, Yahoo! News among others. We have a perfect 30/30 […]

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FHA to Hike Mortgage Insurance Premium, Prevent MI Cancellation

Federal Housing Administration (FHA) said it will hike mortgage insurance premium (MIP) again. Its also setting in place regulation that will prevent all new borrowers to cancel their mortgage insurance premium even if the loan-to-value requirement is met during the life of the loan. This was announced in the FHA press release issued on November […]

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From $900 billion to $1.7 trillion – Mortgage Origination Breaks All Predictions in 2012

Mortgage Bankers Association (MBA) is now predicting that the mortgage origination volume for 2012 can exceed $1.7 trillion. This is almost double of what they predicted before the year began – a meager $900 billion. Quarterly Data Report and The National Mortgage News are forecasting $1.75 trillion in fundings this year, 70% of which will […]

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Dos and Don’ts during your California Mortgage Loan Process

It is very tempting to start thinking about decorating your new home the moment you initiate the mortgage process. But as a Lender, there are certain things I caution my clients against to ensure their California mortgage gets approved smoothly. When you fill out a credit application, they run a credit report for the underwriter. […]

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