FHA Did Not Approve 40-Year Loans For New Home Buyers. The New Rule Only Applies To Modifications Of Existing Loans Greedy mortgage brokers are spreading misinformation on TikTok. This time its about recent a FHA announcement. The FHA announcement regards the increase the mortgage modification term to 40 years. Tik Tok creators are posting videos […]
Elderly New York Woman Loses Her $350,000 Home After Her Neighbor’s Daughter Forged The Deed To Become Legal Owner Of The Property Authorities have accused Aurelia Soogea of stealing the home of an elderly New York woman. Police arrested Soogea on charges of forging a deed to Rosemary Myka’s home. However, Soogea insists woman gave […]
Rate Sensitive Borrowers Are Causing Rate Lock Volume To Jump 43%. Are Borrowers About To Go Into Panic Mode? Rate lock volume jumped 43% in March. Some experts say this is due to market conditions. Lock volumes increased across the board. This was led by purchase locks jumping 44% in March. This was above the […]
FDIC To Gradually Auction $114B In MBS Seized From Failed Signature Bank and Silicon Valley Bank The FDIC has decided to sell a portfolio of $114 billion in mortgage-backed securities (MBS). The FDIC seized control of the MBS portfolios after taking control of Signature Bank and Silicon Valley Bank. The face values of SVB’s portfolio is approximately […]
FDIC Will Protect Silicon Valley Bank Depositors But Federal Reserve Rules Out Bailing Out Bank FDIC has stepped up to protect deposit holders of Silicon Valley Bank Authorities said on Sunday that it would protect depositors. Depositors will have access to all of their money on Monday. However, the Federal Reserve has ruled out giving […]
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