Mar 21
Mortgage rates dropped again this week, but refinance applications also declined. One bright spot that may change the refinance picture for homeowners is that the long-awaited revised version of the Home Affordable Refinance Program (known as HARP 2.0) should finally get off the ground this month.
Homeowners who owe more on their mortgage than the value of their home and who meet other qualifications of the HARP program should reach out to lenders, who should be receiving underwriting software from Fannie Mae and Freddie Mac later this month.
According to Michael Fratantoni, vice president of research and economics for the Mortgage Bankers Association (MBA), “HARP volume continued to grow as a share of total refinance volume, reaching roughly 30 percent of refinance activity in the last two weeks. Typical HARP loans had loan-to-value ratios above 90 percent, indicating that lenders are reaching out to underwater borrowers.”
Once the new software is available, lenders will be able to approve loans for more than 125 percent loan-to-value. Lend
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Mar 20
It is very easy to find reputable Miami movers these days, especially with top online resource centers and tools now just a couple of clicks away. Still, you need to pay close attention to details and review the important aspects before deciding to hire the moving company that suits you best. Here are a few things you need to do before you decide to hire a moving company.
First of all, make sure you understand the services you need thoroughly. If you want the professional movers to pack your things for you, for example, you need to determine the number of rooms you that need to be packed along with other essential details. You can also make a detailed list of items that need to be transported; this list will act as a guide when getting (and negotiating) deals from moving companies.
Next, understand the necessary aspects to consider when comparing moving companies. Read all post…
Mar 04
Alabama’s largest charter fleet offers great year round opportunities for fabulous fishing! Alabama’s Gulf Coast has historically been ideal for fishing enthusiasts and for more than 50 years the Orange Beach Fishing Association has helped develop the nation’s largest artificial reef zone; here visitors will enjoy Inshore, Nearshore, and Deep Sea Fishing. Go with family or friends and reel in Tuna, Marlin, or other popular and tasty species. Many families also choose to cruise the waters spotting local birds, dolphins, and just enjoying the ride or a meal at a waterfront restaurant. Check out fishing trip lengths and pricing at orangebeachfishingassociation.com. Why not visit Alabama’s Gulf Coast this year and make memories!
Tags: Fishing, Gulf Coast
Feb 26
On July 22, the Consumer Financial Protection Bureau published an interim final rule for public comment which implements amendments from the Dodd-Frank Act to the Alternative Mortgage Transaction Parity Act.
Under the ruling, state-licensed or chartered creditors can only conduct alternative mortgage transactions under the AMTPA if they comply with CFPB rules. The rule is the first major piece of regulation filed by the new agency.
Without an interim final rule that takes immediate effect, state housing creditors would no longer be able to make variable rate mortgage loans and other alternative mortgage transactions pursuant to AMTPA in states that prohibit such transactions, thus denying consumers access to that form of credit, the agency stated.
The CFPB added it approved the rule without a notice-and-comment period so not to disrupt the mortgage market, which it states could have hurt both creditors and consumers.
The rule will be in effect through July 22, 2012.
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Tags: Protection Bureau, Rule
