Wednesday , 25 November 2015
Home » Author Archives: Steve Cook

Author Archives: Steve Cook

New Study: Great Credit Makes for a Great Rate


    A new study by researchers at Northern Kentucky University to be published next month in the Journal of Housing Economics found that for every 10 point increase in credit scores, borrowers receive a lower mortgage premium above default and interest rate risk ranging from one to five basis points, depending on the loan to value ratio. For every ... Read More »

First-time Buyers Lose Again


‘Closed loan credit scores continued tumble, while DTI rose in October’ promised the headline from Ellie Mae this month. Eagerly I scanned through the data, hoping at last to see a relaxation of the squeaky tight lending standards for purchase loans, enough to really mean something to the millions of young buyers trying to maneuver their way through student loan ... Read More »

Home Seller Equity Soars


  They say that good things happen to those who wait. That’s certainly true for the millions of home owners who struggled through seven years of falling values and false-starting recoveries to see their equity return and resume an upward path. The latest evidence comes from NAR’s new 2015 Profile of Home Buyer and Sellers just released today.  The venerable ... Read More »

Are 39 Percent of Appraisals Wrong?


A study by a company that analyzes appraisals to reduce lender risk found that 39 percent of more than 300,000 appraisals contained property quality or condition ratings that conflicted with previous ratings of the same property. Conflicting property condition and quality ratings cause delays that generally range from one day to several days—a costly and risky setback for lenders concerned ... Read More »

Fannie Mae Rethinks Risk


  These times of limited affordability and changing views on credit are making it tough on lenders and even tougher on the GSEs who are the primary market for the mortgages they originate.  In an effort to reduce its risk burden by transferring more to investors in mortgage-backed securities, Fannie Mae has sharpened its pencil and put in place a ... Read More »

Confidence in Recouping Purchase Price Soars


  Over the past two years, homeowners’ confidence in recouping the price they paid for their homes has risen 29 percent.  A biennial opinion survey on housing issued conducted by the National Associate of Realtors shows that fears of selling have abated dramatically since the housing recover hit high gear two years ago. Nearly three quarters of owners (71%) disagreed ... Read More »

Rural Communities Attract More Buyers


  Purchase mortgages grew at a faster rate in rural communities than in the rest of the nation last year and rural borrowers paid significantly higher rates of interest than urban or suburban home buyers in 2014, according to an analysis of recently released data from the Home Mortgage Disclosure Act (HMDA) by Keith Wiley, senior research associate at the ... Read More »

TRID and Title: Is Shopping Really an Option?


In 2005 five companies controlled about 92 percent of the national market for title insurance.  Ten years later, only four title insurers now control 86.9 percent of the title insurance business.  In all but five states, only five companies account for 80 percent of more of premiums paid. Despite the introduction of online insurerers a federal policies encouraging consumers to ... Read More »

Student Debt Is a Bigger Barrier to Homeownership than ever


Student loan debt continues to grow as an obstacle in a consumer’s ability to buy a home, as 57 percent of 2015 respondents who acknowledge having student loans said this debt was either “very much” or “somewhat” of an obstacle, compared to 49 percent of 2014 respondents, according to the third annual America at Home survey from NeighborWorks America. The survey ... Read More »

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