Mortgage Rates: 30 Year Jumbo Mortgage Rates Now Under 5.00%, QE3 Coming? News from MonitorBankRates.com:A bleak jobs report for May is yet another weak economic report that points to a slowdown in the U.S. economy which will keep mortgage rates low. The recovery from the Great Recession will take longer than most economists expected and as a result mortgage rates will probably go lower in the coming months. There is speculation that the Fed will have to take more measures (QE3) to help the economy recover.
10 year U.S. Treasury yields broke 3.00% this week and have remained under […] Continue Reading…

Feedback Needed: Risk Retention Comment Period Almost Expired

Posted on 3 Jun 2011 In: loan

Feedback Needed: Risk Retention Comment Period Almost Expired News from Mortgage News Daily:Here we are on June 3rd, which means we have 7 days left to comment on the Qualified Residential Mortgage (QRM) provisions. If you thought that the industry had forgotten, no way. Lobbying efforts have continued. In recent news, a letter signed by 163 congressmen urges federal regulators to loosen the definition of a “qualified residential mortgage,” allowing single-family loans with low down payments and private mortgage insurance to be exempt from pending risk retention rules. In the other chamber, over one-third […] Continue Reading…

Advocates, bankers join to fight new rules on mortgages

Posted on 2 Jun 2011 In: loan

Advocates, bankers join to fight new rules on mortgages News from Bend Bulletin:By Edward Wyatt and Ben Protess / New York Times News Service
Published: June 02. 2011 4:00AM PST WASHINGTON — The weight of the mortgage crisis fell heavily on lower-income and minority communities, where first-time home buyers often fell victim to the predatory lending practices that resulted in an explosion of foreclosures.
That left consumer advocates and civil rights groups frequently at odds with bankers, mortgage lenders and their lobbyists during the debate over the financial regulation act last year, which aims to rein […] Continue Reading…

Tips on how to have your mortgage application approved

Posted on 1 Jun 2011 In: loan

Tips on how to have your mortgage application approved News from NEWS.com.au: Those considering a mortgage are more likely to have a loan approved if they do thorough homework first / File

BANKS have become much tougher about who they will lend money to since the global financial crisis and the situation shows no signs of easing in 2011.

It is estimated that almost one in four mortgage applications is rejected and usually for the same reason – lack of preparation by the potential borrower.
Probatus Finance spokesman Stephen Helion says while the banking […] Continue Reading…

Mortgage Rates: Wall Ready to Tumble

Posted on 1 Jun 2011 In: loan

Mortgage Rates: Wall Ready to Tumble News from Mortgage News Daily:We are witnessing the second stage of a significant shift lower in home loan borrowing costs. While these secondary signs are encouraging, they are just another step in what might evolve into a sustained rally in the bond market. That second step toward toppling “The Wall” took place today as Best Execution mortgage rates benefited from continued fears that the economy is not recovering at the pace previously thought. READ MORE
UPDATED CURRENT MARKET: The “Best Execution” conventional 30-year fixed mortgage rate has fallen yet […] Continue Reading…

Advocates and Bankers Join to Fight Loan Rules

Posted on 1 Jun 2011 In: loan

Advocates and Bankers Join to Fight Loan Rules News from New York Times:By EDWARD WYATT and BEN PROTESSPublished: June 1, 2011
WASHINGTON — The weight of the mortgage crisis fell heavily on lower-income and minority communities, where first-time home buyers often fell victim to the predatory lending practices that resulted in an explosion of defaults and foreclosures.
That left consumer advocates and civil rights groups frequently at odds with bankers, mortgage lenders and their lobbyists during the debate over the