The Coronavirus pandemic has caused irrefutable risk to the health and safety of hundreds of millions of people around the world, but the economic devastation is just getting started.
With stay-at-home orders pausing most travel and foot traffic, mass layoffs and an astronomical jump in unemployment, and small businesses going under left and right, the impact may be felt the worst ... Continue Reading →
It’s a good time to be in the mortgage business, with shockingly low interest rates, record home equity, and thriving – if not spectacular – real estate markets nationwide. However, we all know that these halcyon days won’t last forever.
In fact, with about 300,000 mortgage lenders (between banks, brokers, and LOs) in the U.S. all fighting for the same shrinking piece ... Continue Reading →
The Chinese have a saying, “May you live in interesting times,” and these are definitely interesting times for the U.S. economy – and the average consumer.
In fact, we’re receiving a lot of mixed signals as the economy seems to be rosy, unemployment low, and businesses booming, but there’s also hesitance surrounding the real estate ... Continue Reading →
A brawl has erupted, and everyone’s circling around to watch. But instead of being schoolyard fisticuffs, this imbroglio is over which credit score lenders will use for home loans.
For as long as we can remember, lenders used FICO scores to decide whether a borrower qualified for a mortgage loan, which was then sold to the credit giants Fannie Mae or Freddie Mac.
But ... Continue Reading →