Tag Archives: borrowers

HAMP Borrowers Face Rate Increases

With the five-year anniversary of the federal government’s Home Affordable Modification Program coming up, home owners who received loan modifications through the program should...

For Some Borrowers, It’s Now Easier to Get a Mortgage

Borrowers may be having an easier time applying for a mortgage compared to a year ago. The average credit score for approved mortgages dropped to 727 in December, down from 748 one...

Social Media a Tool for Lenders to Vet Borrowers?

Some lending companies reportedly are using social networks such as Facebook and Twitter to vet mortgage applicants before agreeing to issue them a loan. Lenders are checking to see if...

Many Borrowers Facing Higher Mortgage Costs Next Year

Borrowers will likely see an increase in mortgage costs next spring, particularly those who lack a sizable down payment or have less-than-perfect credit scores. Mortgage giants Fannie...

Payday for Borrowers After Foreclosure?

More than 1,000 home owners who lost their homes to foreclosure in the Phoenix metro area may be eligible to recoup thousands of dollars in cash due to rising home prices. Many...

Is New Loan Rule Nudging Borrowers to Lie?

While mortgage application fraud has dropped 5.6 percent year-over-year, the industry is seeing a rise in income-based fraud, according to CoreLogic findings. CoreLogic officials say...

What Does It Take to Get a Loan Today? A Lot!

One of the biggest obstacles home buyers are facing is qualifying for financing, and a new report by the Federal Reserve shows exactly how big of struggle potential borrowers face....

FHA Clarifies New ‘Credit Dispute’ Rule

The Federal Housing Administration is giving borrowers a chance to provide an explanation on any disputed collection accounts in their history in order to qualify for an FHA-backed...

FHA Loan Apps Rise as Borrowers Try to Beat Fee Hikes

Mortgage applications for Federal Housing Administration loans soared 11 percent from the previous week as borrowers try to rush their applications in to beat the higher FHA costs that...

Does Foreclosure Counseling Work?

Borrowers who underwent foreclosure counseling are more likely–nearly twice as likely–to receive a loan modification and stay current on their mortgage, according to a new...