Don’t Know Your Mortgage Rate? You Could Be Costing Yourself Thousands

(TNS)—Not knowing your mortgage rate can be an expensive mistake, especially in this rising interest rate market. Yet nearly three in 10 mortgage holders (29 percent) either didn’t know their mortgage rate or wouldn’t say, according to a survey by Bankrate. This is a big problem, says Martin Choy, operations manager at Westwood Mortgage in […]

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New Initiative Opens Door to Airbnb Refi Options

The rental industry is changing. In the last few years, Airbnb has become increasingly popular, especially among young travelers, as an alternative to pricy hotels and a shortage of short-term rentals in the market compared to traditional one-year leases. Now, refinancing will become easier for Airbnb hosts who have struggled in the past. The company […]

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Homeowners Get in Front of Rising Rates at Year-End

Homeowners seized the opportunity to refinance their mortgages at the end of 2016, locking in interest rates on the uncertainty whether they would rise higher in the new year. According to ATTOM Data Solutions’ Q4 2016 U.S. Residential Property Loan Origination Report, 883,836 refinances totaling $246 billion were originated in the fourth quarter of 2016, […]

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Tactile Finance founder launches ‘mortgage industry-grade’ website

When you’re a self-described “serial buyer and homeowner,” and you experience a refinancing challenge that makes you wonder, “why is this so hard,” what’s your next step? If you’re Nicole Hamilton, you become a woman on a mission: to make the mortgage process more transparent for consumers …

Refi Applicants Discouraged by Limited Credit Access

The proportion of consumers who applied for credit and reported feeling “discouraged” by or “rejected” in their experience has clawed higher, especially among mortgage refinance applicants, in the Federal Reserve Bank of New York’s recently released Survey of Consumer Expectations (SCE) Credit Access Survey for October 2016. The finding underscores the overall sentiment of the consumers surveyed, […]

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Is it time to refinance? How to help clients decide

Refinancing a home is a valuable way to save money and ultimately reduce a mortgage payment. At a high level, refinancing means trading a current mortgage loan for a fresh one …

SoFi returns to student loan debt relief roots

When a group of Stanford University friends got together and founded Social Finance Inc. — commonly known as SoFi — in 2011, their goal was to ease one of the greatest areas of financial stress for their alumni friends and other consumers: student lo…

Loan defect and misrepresentation declines nationwide

Low interest rates and better loan processing have produced the lowest national level of loan defect and misrepresentation in the recent past, according to First American Financial Corp …

Do you really understand your client’s credit score?

First-time homebuyers look to agents to fill in knowledge gaps. Although you’ll likely be sending buyers to a lender, it’s good to understand and be able to explain the terms. Especially if they tell you a number or hand you a credit report and think they’re set. Chances are, most don’t know that consumer credit scores are not a measure of true homebuying power …

East coast and Midwest overvalue homes, West undervalues, says Quicken Loans

According to Quicken Loans’ Home Price Perception Index (HPPI), national home appraisals are 2 percent lower than homeowners’ expected value. This unprecedented report shows how homeowners are viewing the housing market verses the reality of the housin…