FHFA Plans For New Secondary Mortgage Market Framework
The Federal Housing Finance Agency (FHFA) is hoping to improve the business practices of Freddie Mac and Fannie Mae by reaching out to the public for input. An October 4...
Category "Mortgage"
Your home may be the single largest investment in your life. At ForTheBestRate.com, we want to provide you with information on the home financing process and make sure that you’re getting a great deal on your next mortgage. In this section of the website, we have posts covering a wide range of topics including real estate investing, mortgage products, refinancing, and industry related news.
Mobile Home Financing & Purchasing Guide
If you’ve never purchased a mobile home before, you may have questions about the process – and with good reason. Buying a mobile home is similar to buying a traditional...
Banks Reaching Out to Homeowners Who Could Benefit from Modifications
How would you feel if you found out your mortgage servicer was suddenly slashing your interest rate? Or maybe reducing your principal balance? That would feel pretty darn good, right?...
Mortgage Check-Up Q & A
As we near the end of 2012, we thought we’d take a few moments to review some of the questions users have sent into ForTheBestrate.com throughout the year. We hope...
What is a No Cost Refinance?
You’ve likely heard radio commercials and received direct mail solicitations from mortgage companies offering “No Closing Cost Refinancing” and slinging promises of no attorney fees, zero appraisal costs, no lender...
Consumer Advocates Looking Into Costly Force-Placed Insurance
Letting your homeowners insurance lapse could mean more expensive coverage later on, whether you signed up for it or not. Known as force-placed insurance, these policies are implemented to protect...
What are Title I Manufactured Home Loans & What are the Maximum Loan Amounts?
Title I loans are a type of home financing for manufactured housing. You can apply for a Title I manufactured home loan in a few different ways – to purchase...
Top Mortgage Originators By State
The mortgage industry is not easy. Ask any mortgage professional and they’ll tell you that getting loans cleared to close in today’s market can feel this pushing a Chevy Suburban...
Mortgage Fees Increase November 1st, 2012
The Federal Housing Finance Agency recently released some new information regarding mortgage fees. Apparently, the FHFA has directed Fannie Mae and Freddie Mac to raise guarantee fees (or g-fees) charged...
ForTheBestRate.com announces that average fixed mortgage rates fell to near record breaking levels
Mortgage rates for fixed rate home loans fell on average this week, returning to close to the historic low points set in recent weeks, reports ForTheBestRate.com, a consumer focused mortgage...
If I Refinance, Will I Have to Repay the First Time Buyer Tax Credit?
If you were a first time home buyer in 2009 or 2010, chances are you either heard or took advantage of the government’s $8,000 tax credit. As you may or...
Pros And Cons Of A Cash-Out Refinance
The vast majority of homeowners in the US have debt. With so many of life’s big purchases impossible to obtain without credit, people have become accustomed to owing money. Unfortunately,...
Risk Management Professionals in Demand within Mortgage Industry
As the mortgage industry continues to shift with the changing economic tides, the demand for risk management and quality assurance professionals has risen dramatically. With the implementation of several new...
5.66 Million Homeowners Helped By HOPE NOW Loan Modifications
Through the HOPE NOW program, more than 5.66 million homeowners have secured affordable home loan modifications, according to recent data from the Making Home Affordable and HOPE NOW organizations. In...
New Mortgage Regulations To Be Decided By Early 2013
The American Bankers Association (ABA) recently summarized information about the mortgage reform that is sure to pique the interest of lenders, as the next two months will be critical to...
43% of Complaints to the CFPB Related to Mortgage Products
In a semi-annual report issued in July, the director of the Consumer Financial Protection Bureau or CFPB, released findings regarding complaints the agency handled from July 21, 2011 through June...
Lenders Asking for More Documentation from Mortgage Applicants
Remember those days at the video store before Netflix and Redbox? Often, you were asked for everything from your social security number to your employer’s address before you could check...
Freddie Mac to Expand HARP to Those with Greater Equity
HARP is an acronym, which stands for, the Home Affordable Refinance Program. The federal government program came to be in March 2009 in an effort to provide assistance to approximately...
National Association of Home Builders Campaign to Encourage Policymakers to Keep the Mortgage Interest Deduction
Taxpayers who own their own homes can use a home mortgage interest deduction to reduce their taxable income. In the last few years, a number of lawmakers and special interest...
“Underwater” Added to Dictionary & HARP Stat Update
In August, Merriam-Webster released its list of new words being added to the 2012 update of Merriam Webster’s Collegiate® Dictionary. Among the newly adopted words is a term that reveals...