It was an uneventful day for mortgage rates with the average lender close enough to Friday’s levels that borrowers would not see much of a difference between the two days. The bond market (which underlies and dictates rate movement) was still in quasi-holiday mode as most overseas markets were closed for holidays. Financial markets (including […]
Mortgage Rates Steady to Slightly Lower Read More »
Freddie Mac and Fannie Mae have respectively released a mix of new flexibilities and requirements for single-family mortgages they purchase as April has gotten underway. Processing Content Fannie is pulling back on some prefunding measures it had previously emphasized, while Freddie is making changes that affect loans in an underserved market that advocates and housing
GSEs ease prefunding rules, extend manufactured housing terms Read More »
Reverse mortgage lender Finance of America is offering a new product that allows older homeowners to access their home equity without, they say, adding another monthly expense. Processing Content The lender launched HomeSafe Second Line of Credit, a second-lien reverse mortgage line of credit that allows homeowners 55 and older to draw funds as needed
FOA launches new reverse mortgage line of credit product Read More »