FHA loan

Are you interested in buying or selling a home in the Outer Banks area? If you are, you may be interested in using the services of a real estate agent, as many home buyers and home sellers are. While a large number of home buyers and home sellers use the assistance of a real estate agent, you may be wondering whether or not you really should. If you are interested in learning whether or not an Outer Banks real estate agent can help you, you will want to read on. When it comes to selling a home,…

Section 3 The financial crisis of 2008 jolted the structure of the economy and affected numerous sectors. These crises occurred because of numerous reasons that stacked up and created a horrendous long-term impact for the overall economy. The financial crisis cost appears to be $5 trillion to $15 trillion. The stock markets fell miserably after this demise, and strategists were unable to control this demise. Several players played their roles in this demise, and players like banks, firms,…

The two largest GSE’s, Fannie Mae and Freddie Mac, combined to back 5.4 trillion dollars in debt securities, essentially leaving the majority of home mortgage lenders reliant on the two GSEs. They gave out more subprime and Alt-A loans and their management had access to cheap money and the increasingly growing economy generated fast returns. This caused an increase in foreclosures housing prices to go up which in turned lead to losses for Fannie Mae and Freddie Mac. The Federal Reserve…

Legal ambiguities have caused many banks to drop medical dispensaries from their merchant account roles. For business owners who feel that credit card processing is an integral part of their success, this rash of rejection notices from banks is more than a little distressing. It isn't uncommon for the owner of a dispensary to sign up with a bank only to hear a few weeks later that their services are being withdrawn. A single law, the Bank Secrecy Act, is the source of all the trouble. It…

December 31, 2015 were Mortgage Loans Held for Sale, At Fair Market Value, which made up 31.17% of total assets, and Loans Eligible for Repurchase from GNMA, which made up 22.89% of total assets. The sample file review and the Licensee’s responses to examination inquiries indicated the Licensee does not originate high risk loan products such as payment option ARMs, negative amortization products, second lien purchase money loans, extended amortization, or subprime loans. The Licensee utilizes…

Generally, pre-purchase homeownership counseling has frequently been integrated with efforts to responsibly extend credit to borrowers. Furthermore, counselling proponents have argued that it reduces the probability of borrowers become delinquent or going into default. Fifth Ward CRC's objective for clients who take the Homeownership Promotion and Preservation, pre and post-purchase classes and one-on-one counseling sessions, acquire the skills and confidence to navigate the mortgage lending…

practices have been addressed by the government and other financial entities. Accusations of lenders fraudulently selling shady loans originating through its "High Speed Swim Lane" program, also called HSSL or "Hustle," have been scrutinized and executives have testified to their practices. Lenders were incentivized to sell loans to people who did not qualify for the loan, and were complicit in falsifying documentation that could qualify the applicant even though…

400 × 300 Caption A condo association can initiate background checks of prospective tenants and owners. Alternate Text Group When buying a home or condominium, you may think you're ready to go after striking a deal with the seller and securing the funds you'll need to purchase the home. You may find, however, that you have one more hurdle to clear. Some communities utilize a condominium association or homeowners association (HOA) to govern the community. There is no opting out of an HOA if your…

The home buying process starts with a lot of excitement about new beginnings. The enthusiasm is often quickly replaced by worry and tension when you are flooded by paperwork, check writing, inspections, and more. The way to eliminate most of the stress is through education and being prepared. The single most important thing to do before looking at homes is becoming pre-approved for a mortgage. The last thing you want to do is limit yourself. This is your dream home, right? It is devastating to…

Mortgage-backed securities provided them with the perfect opportunity to earn a high profit because the rising house prices protected them from losses. When subprime mortgage borrowers were not able to make their loan payments, they would either sell their homes at a gain and pay off their mortgage, or refinance their mortgages by borrowing more against their increased house value (Duca, 2013). This led to an increased demand for mortgage-backed securities and inflated…