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refinances

Cash-Out Refis Tick Higher as Boom Ends

House Atop Money/Credit: Creatas

Freddie Mac has released the results of its second quarter 2014 quarterly refinance analysis, showing that borrowers will save in aggregate more than $1 billion in interest payments over the coming year, as borrowers continued to shorten their payment terms and build equity in their homes.Click to continue

Weekly Mortgage App Spike Met With Mixed Reactions

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To paraphrase Dinah Washington, "What a diff’rence a week makes." Mortgage applications increased 10.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 6. This is a marked turnaround from the week ending May 30, when the MBA’s Market Composite Index fell 3.1 percent.Click to continue

Mortgage Apps See Near Six Percent Weekly Slide

Mortgage Applications

Mortgage applications decreased 5.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 25, 2014.Click to continue

Carrington Launches New 15-Day Closing Program Via Wholesale Division

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The Wholesale Lending Division of Carrington Mortgage Services LLC has announced that it has expanded its successful Purchase Promise Program to offer 15-day loan closings to borrowers looking to purchase or refinance properties.Click to continue

HSH.com Launches Two Consumer-Oriented Mortgage Calculators

Calculators and money

HSH.com, a publisher of mortgage and consumer loan information, has launched two unique calculators for homeowners who are unable to refinance at today’s low interest rates, but who want to achieve a similar savings. By calculating an appropriate additional payment to their monthly mortgage, these two calculators, LowerRate and PreFi, will help borrowers achieve savings as if they had refinanced to today’s rates.Click to continue

Americans Expect Home Prices and Mortgage Rates to Increase

House and Money Scale

Consumer attitudes toward the economy and housing continue to diverge this winter, according to Fannie Mae’s February 2013 National Housing Survey results. On the one hand, consumers continue to express strong positive attitudes toward housing. On the other hand, sentiment about the economy and household finances is stalled. Average 12-month home price expectations and the share of consumers who believe home prices will go up over the next year both rose to record highs, and the percentage of Americans who say mortgage rates will rise reached its highest level since August 2011.Click to continue

Median Interest Rate Reduction on Refis Hits Highest Point in 27 Years

House Atop Money/Credit: Creatas

Freddie Mac has released the results of its Q4 refinance analysis showing homeowners who refinance continue to strengthen their fiscal house, as 84 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table; just shy of the record 85 percent during the fourth quarter of 2011. Of these borrowers, 46 percent maintained about the same loan amount, and 39 percent of refinancing homeowners reduced their principal balance.Click to continue

Nevada AG Targets Loan Mod Scammer

Black Gavel Pic/Credit: Brand X Pictures

Nevada Attorney General Catherine Cortez Masto announced a preliminary hearing has been set for Xochitl Cervantes of Las Vegas, for her involvement in a mortgage lending fraud case involving several victims operating under the name of CSR Services. “I encourage victims or anyone with more information regarding this case or any mortgage lending fraud to come forward,” said Masto.Click to continue

Carrington Adds Streamline FHA 203K Loans to Its Offerings

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Carrington Mortgage Services LLC has announced that it will offer the Streamline FHA 203K loan program, which allows for up to $35,000 in property repairs to be financed into the loan, through its retail and wholesale businesses. Carrington’s retail lending division will now control the complete operation cycle and related servicing for all of its 203K loans, which were previously offered as a brokered product. Carrington’s wholesale lending division will also add the 203K loan program to its portfolio of government-insured products as of April 1.Click to continue