Skip to main content

Low.com introduces FICO-sensitive lead system

National Mortgage Professional
Jun 11, 2007

MI tax deductibility considered by CongressMortgagePress.comHR 1813, federal tax deduction for mortgage insurance premiums A bipartisan coalition of legislators has introduced a bill, HR 1813, to make permanent the federal tax deduction for mortgage insurance premiums for borrowers making $109,000 per year or less. "The proposed legislation making the cost of mortgage insurance tax deductible beyond 2007 will help low- and moderate-income Americans overcome barriers to homeownership," said Steve Smith, CEO of The PMI Group Inc. "Mortgage insurance offers individuals and families a simple, safe and smart way to buy a home with a low down payment, and that is especially important in this economic climate." The cost of mortgage insurance was made tax deductible for the first time for transactions closed in 2007. Borrowers with adjusted gross incomes below $100,000 may deduct 100 percent of their mortgage insurance premiums paid between Jan. 1 and Dec. 31. Deductions are phased out at 10 percent increments for borrowers with annual adjusted gross incomes between $100,000 and $109,000. HR 1813 was introduced jointly by Reps. Sander Levin and Paul Ryan, with Reps. Shelley Berkley, Dave Camp, Eric Cantor, Joe Crowley, Rahm Emanuel, Phil English, Wally Herger, John Lewis, Ron Lewis, Paul Ryan, Allyson Y. Schwartz, John S. Tanner and Jerry Weller. For more information, visit www.house.gov.
Published
Jun 11, 2007
MBA Swears In New Officers For 2021-22

Kristy Fercho, executive vice president and head of home lending at Wells Fargo, is the new chairman.

Industry News
Oct 18, 2021
Wemlo Introduces Third-Party Processing Solution

Wemlo announced the first third-party mortgage processing solution, Loan Brokering System.

Tech
Oct 18, 2021
Nationwide Mortgage Bankers Names New COO

Nate Hernandez was named chief operating officer for Nationwide Mortgage Bankers.

Industry News
Oct 18, 2021
ICE Unveils Transaction-Based Indices For Residential Mortgage Interest Rates

Intercontinental Exchange Inc. launched its suite of U.S. residential mortgage locked rate indices.

Tech
Oct 18, 2021
ChainLogix Appoints New Vice President, Operations

Jeryl Graham hired to accelerate growth in title & mortgage services.

Industry News
Oct 15, 2021
JPMorgan Chase To Commit $8.4M To Improve Household Stability For The Underserved

JPMorgan Chase announced six organizations that will receive philanthropic capital as part of the firm’s $400 million five-year commitment to improve housing affordability and stability for Black, Hispanic and Latino, and other underserved households.

Community
Oct 15, 2021