FHA To Cut FHA Mortgage Insurance Premiums By 30bps On March 20th. White House Says Homeowners Will Save An Average Of $800 Annually The Biden Administration announced that FHA Mortgage Insurance premiums be decreased by 30 basis points. FHA charges premiums on the loans they underwrite. FHA charges the fee on top of the monthly […]
The Majestic Home Loan Legacy Issue That Caused It’s Collapse Was Due To Late Owner’s Inexperienced Son When Majestic Home Loan has abruptly closed last month the company was pretty tight lipped about the cause. All the company said was it was a legacy issue. What was the mysterious and unspoken Majestic Home Loan legacy […]
Study Shows Age Discrimination In Lending Appears To Skyrocket. Why Are Lenders Giving Older Borrowers The Shaft? It appears mortgage lenders are giving older Americans the shaft. A new study by the Center for Retirement Research at Boston College shows age discrimination by mortgage lenders is skyrocketing. The study is called, “Are Older Mortgage Applicants […]
Mortgage Rates Are Inching Closer To 7%. Rates Are Up 13 BPS In Less Than 24 Hours. Is There Really A Recession Coming? Mortgage rates are inching closer to 7% and here is why. Economic data indicates that the economy has remained resilient. This is despite the Federal Reserve tightening monetary policy and raising rates. […]
Brooklyn Credit Counseling Operator Indicted For Defrauding Russian Immigrants And Spending Money On Luxury Goods Federal authorities have indicted Brooklyn credit counseling operator Marat Lerner. Prosecutors indicted Lerner on eight counts of fraud. They charged Lerner with conspiracy to commit wire fraud and wire fraud. In addition, they also charged him with money laundering. Lerner […]
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