Acting U.S. Department of Labor Secretary Julie Su, second from left, greets a toddler at A Place to Grow in Brentwood, as part of a visit and roundtable that also included, from left, U.S. Rep. Chris Pappas (D-CD1), U.S. Sen. Jeanne Shaheen (D-NH), and Jen Legere, founder and director of…
Continue reading →HousingWireHousingWire In a significant move designed to expand homeownership access, the Federal Home Loan Bank of New York (FHLBNY) announced the adoption of an alternative credit scoring model to boost mortgage credit availability. The wholesale bank will now allow members to pledge mortgage collateral using the VantageScore 4.0 system. FHLBNY…
Continue reading →HousingWireHousingWire The Federal Housing Finance Agency has expanded the eligibility for alternative appraisal methods on purchase loans by increasing the maximum loan-to-value (LTV) requirement. The announcement was made on Monday during the Mortgage Bankers Association (MBA) Annual Convention & Expo in Denver, Colorado. The maximum LTV ratio will increase from…
Continue reading →HousingWireHousingWire It might be fitting that Bob Broeksmit struck a more conciliatory tone during his speech to kick off MBA Annual than he did last year, when he said the mortgage trade organization was “playing offense” to “stop the madness.” After all, the general election is a little over a…
Continue reading →HousingWireHousingWire Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index. This increased refinance incentive,…
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