Dec 08
NEW DELHI: LIC Housing Finance sanctioned over Rs 100 crore toward home loans during a three-day property exhibition that concluded in the city today, a senior company official said. The company organised the ‘Home for All Expo ’11′, starting November 4, at Pragati Maidan to attract home loan seekers. “We have sanctioned more than Rs 100 crore to home seekers in this three-day property show. The majority of the people are looking for better housing projects at affordable prices in the Delhi-NCR region,” LICHFL Regional Manager Ajay Grover said in a statement. He added that the idea behind having such expo was to give people better deals to buy their dream houses. Grover said that people from different walks of life were seeking more affordable housing and nearly 5,000 families from various parts of the Delhi-NCR and neighbouring cities visited the expo. Read all post…
Tags: 100 Crore, Loans, Rs 100, Rs 100 Crore
Dec 01
August 2, 2011 |
In comments filed in late July, Genworth Financial urged the six financial regulatory agencies in charge of defining the revamped qualified residential mortgage rules to alter their proposal for down payment requirements.
The company stated the proposed 20 percent down payment rule for borrowers would hurt private capital from the housing finance industry and force most low-payment lending to the Federal Housing Administration.
The regulators QRM proposal ignores other factors to focus primarily on requiring a large down payment. Low down payment mortgages performed safely prior to and during the current housing market crisis and should not now be subjected, unnecessarily, to the higher costs associated with risk retention, Kevin Schneider, president of Genworths U.S.
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Tags: Mortgage Rule, Residential Mortgage, Residential Mortgage Rule, Rule
Nov 18
Well it looks like our Congress has passed loan limits for 2012 restoring FHA’s higher “temporary” loan limits (pre October 1, 2011) and preserving the current loan limits for conventional mortgages.
From the press release by the Appropriations Committee:
The bill does not increase the maximum loan limits for Fannie Mae and Freddie Mac. These entities have been under public scrutiny for their questionable businesses practices and use of billions in federal bailout funds, some of which have been used for extravagant management bonuses.
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Tags: 2012, Loan Limits
Nov 10
More homeowners applied for a home refinance during the week ending November 4, 2011, as mortgage rates dropped. According to Freddie Mac, the majority of homeowners who refinance either reduce their principal balance or keep it the same rather than take out cash.
The Mortgage Bankers Association (MBA) Refinance Index for the week ending November 4 shows that applications for a mortgage refinance rose by 12.1 percent over the previous week.
According to HSH.com, the average rate for a 30-year fixed-rate home loan was 4.36 percent last week, with the average rate for a 15-year fixed-rate mortgage at 3.66 percent.
“Treasury rates dropped last week, as renewed turmoil in Europe once again led to a flight to quality, and 30-year mortgage rates dropped to their second lowest level of the year,” said Mike Fratantoni, MBA’s vice president of research and economics. “Refin
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Tags: Drop, Mortgage Rates, Mortgage Rates Drop, Rates Drop
