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If you’re considering getting a new home loan, getting pre-approved should be the first step in your homebuying process. With a mortgage pre-approval, your lender will look at your income, any debt that you may have and check your credit score. Read More
With all sorts of trends, signs, and predictions for what 2020 may hold for the housing market, one thing is for sure: there is no way to absolutely know what’s ahead. Today’s headlines offer a glimpse of what factors might impact the housing market this year. Read More
Due to their extensive size, millennials have turned out to be disrupters in many industries, and real estate is no exception. As millennials reach peak homebuying age, Real Estate Agents have started to pay attention to the way millennials prefer to move through the process. Read More
From the buyer and the seller to the Real Estate Agent and the Loan Officer, closing on a home has different implications for different individuals. However, there are some basic facts about what’s involved during this critical final stage of the homebuying process. Read More
Though it may not be a traditional time to purchase a property, buying a home in winter may be the right opportunity for you and your family. There can be great deals for the persistent and savvy buyer during the winter homebuying season. Read More
Looking for a loan but don’t know where to start? Have a non-traditional source of income and you’re not quite sure if you qualify for a typical loan? Perhaps you have had difficulty in the past getting approved for a mortgage and you’re exploring different options. Regardless, you’ll probably want to hear more about Qualified Mortgage (QM) loans and Non-Qualified (Non-QM) loans. Read More

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MBS Day Ahead: The Obvious Bounce Could Be Too Obvious

Posted To: MBS Commentary

As the week comes to a close, we find bonds continuing to trickle toward the lower end of the range that has prevailed for nearly 3 months. In terms of 10yr yields, the upper boundary is clearly established at 1.95%. The lower boundary is slightly more open to interpretation, but in any event is somewhere between 1.69 and 1.71. With yields moving down to 1.717% in the first hour this morning, it's time to ask ourselves if we're about to see another range bounce. Frankly, the only reason we wouldn't see such a bounce at this point is that it's too obvious. Econ data at home and abroad has been "OK" or better on average (especially in areas of concern like German manufacturing, which came out better than expected overnight). We're not at war with Iran. The coronavirus...(read more)

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Changes to FICO are on the Way

Posted To: MND NewsWire

Paying bills on time is about to become more important for American consumers, and this as their debt levels are reaching new highs. Fair Isaac Corporation, the company which creates the FICO credit score models, will introduce two new ones this summer, the FICO Score 10, and the FICO Score 10- T. The company says its new models "incorporate trended credit bureau data to further enhance predictive power" and that lenders could reduce defaults by as much as ten percent among newly originated bankcards and nine percent among newly originated auto loans, compared to using FICO's previous models. The reduction , the company says, could be 17 percent for newly originated mortgage loans compared to the version of the FICO Score used in that industry. The trended credit bureau data to which Fair Isaac...(read more)

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