The Consumer Financial Protection Bureau issued a warning to seniors this week, cautioning them that taking out a reverse mortgage in order to delay claiming Social Security benefits could be a financially harmful decision. In its report, the CFPB said it investigated this practice and found that the costs and risks of obtaining a reverse… Continue reading CFPB warns about dangers of taking out a reverse mortgage to delay Social Security
Blend announced it raised $100 million in Series D funding, marking its second round of funding for the year. And now thanks to its mortgage success, which includes working with Wells Fargo and Movement Mortgage, the company revealed that it doesn’t want to stop at just mortgages. Here’s what the CEO says he sees for… Continue reading Investing in the future: Blend raises $100 million in series D funding
Existing home sales decreased in July, hitting the lowest level for the year, but it is not due to low demand for housing. In fact, as interest rates also hit their lowest level for 2017, more home buyers are flooding into the market, but housing inventory remains unable to keep up.
Due to concerns over lagging inflation, mortgage rates decreased for the fourth consecutive week, Freddie Mac’s survey shows. This decrease brought the 30-year mortgage down to its lowest point in 2017.
A new report from Black Knight Financial Services shows that there were fewer loans in foreclosure in the month of July than in any month in more than 10 years. Here’s a full breakdown.
Fannie Mae and Freddie Mac both announced they are expanding their appraisal-free mortgage programs to the purchase market. But what does that mean? Who qualifies? Are the GSEs looking to eliminate the need for appraisers in the origination process? In an exclusive interview with HousingWire, the GSEs tell everything you need to know about their… Continue reading Everything you need to know about Fannie, Freddie appraisal-free purchase mortgages
With the looming end to LIBOR coming up as U.K. authorizes phase it out over the next five years, it creates a lot of uncertainty around the future of adjustable rate mortgages. LIBOR and ARMs are closely tied together, leaving the industry wondering if they should originate these loans any more.