Mortgage Washington
JS-2395: Secretary John W. Snow
In order to protect against the systemic risk posed by the housing GSEs' mortgage investment business, the Administration also recommends that limitations be placed on the size of the housing GSEs' retained mortgage investment portfolios. After the appropriate phase-in period, given the overall advances in securitization, the large amount of data available on mortgages, and the increased sophistication of mortgage investors, we believe that our capital markets could adjust to a significant reduction in the presence of the GSEs as mortgage investors. ... [Read More]
HUD - Single Family Housing - Insurance Programs
YOU CAN SUBSCRIBE to the Single Family Housing email list. You will get frequent updates to the HOC Reference Guide, training and event announcements, mortgagee letters, FHA Mortgage limits, and notices about your Single Family FHA business. ... Here's some links to some of our FHA insured mortgage related programs: ... FHA Insured Mortgage Programs ... [Read More]
USTP - Bankruptcy Fraud Scams
These scam operators may promise to take care of your problems with your mortgage lender or to obtain refinancing for you. Sometimes they also ask you to pay your mortgage payments directly to the scam operator. They may even ask you to hand over your property deed to the operator, and then make payments to the operator in order to stay in your home. ... If you can't pay your mortgage, call your mortgage lender or contact a lawyer for help. Your state or local bar association may be able to help you find low-cost legal help. ... [Read More]
FRB: Understanding the Home Mortgage Process
For instance, lenders may not discourage you because of your race or national originfrom applying for a mortgage loan. Whatever your color, they must offer you the samecredit terms as other applicants with similar loan requests. They may not treat yourapplication differently because of your sex or marital status or familial status. Inshort, they are barred from taking into account any of the factors listed here in theirdealings with applicants or with potential applicants. They should: ... [Read More]
FCIC: Energy Efficient Mortgage Home Owner Guide
Pay for energy improvements easily, through your mortgage. Your lender can increase your loan to cover energy improvement costs. Monthly mortgage payments increase slightly, but you actually save money because your energy bills will be lower! ... This home qualified for $4,816 in upgrades. With the EEM, lenders recognize the savings the upgrades will bring. Borrowers may use these potential savings like extra cash, and add the cost of upgrades into the mortgage, paying them off easily as part of the monthly mortgage payment. Once the upgrades are installed the potential savings turn into real savings. ... [Read More]
DFI - Consumer Services Home
In Washington, mortgage brokers must have a license. There is no provision for unlicensed brokers to conduct any mortgage broker activity - not even one loan. ... Consumer Services regulates the business activities of consumer loan companies, mortgage brokers, money transmitters and currency exchangers, as well as check cashers and sellers, also known as "payday lenders." The division regularly reviews the books and records of consumer loan companies, check cashers and sellers, money transmitters and currency exchangers, for compliance with state and federal law. When a company is found to have collected inappropriate fees and charges, the division makes sure that refunds are made to customers. ... [Read More]
Reverse Mortgages for Seniors - HUD
Reverse mortgages are becoming popular in America. Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more. ... Reverse Mortgages for Seniors ... HUD Reverse Mortgages Housing Counselors Lists ... [Read More]
Mortgage Brokers
Over the past several years, we have received many complaints from consumers regarding the used of deceptive advertising in the mortgage area. In particular, consumers have complained about mailings advertising the opportunity to refinance that appear to be from their existing mortgage lender, but in fact are from a different mortgage lender or mortgage broker. These consumers also frequently complained to their existing mortgage lender, accusing them of sharing confidential information about their mortgage loan and violating the privacy laws. ... [Read More]
Mortgage Discrimination
Some mortgage lenders may try to charge some borrowers more than others for the same loan product offered at the same time. This may include higher interest rates or origination fees or more points. Ask the lender if the rate you’re being quoted is the lowest offered that day. The lender is probably basing the loan offer on the list of mortgage rates frequently issued by that institution to its loan officers. Ask to see this list. If the lender refuses and you suspect you are not being offered the lowest rates or points available, you may want to negotiate for better terms or shop for another lender. Even if you decide to accept terms that are not the lowest available, ask the lender why you did not qualify for better terms. The answer may help you to correct errors and to become more creditworthy. ... [Read More]
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