Archive for November 2020
Non-traditional credit documents can strengthen mortgage approval
According to the data from the 2019 Home Mortgage Disclosure Act (HMDA) 8.9% of mortgage applicants (about 1.3 million people) were denied. The number one reason for denial is a high debt-to-income ratio, followed by “credit history.” Although the majority of consumers have a credit score, there are many with minimal credit experience or have…
Read MoreMortgage agencies update COVID-19 rules for self-employed borrowers
The Federal Housing Finance Agency (FHFA) has issued updated COVID-19 temporary rules for mortgages purchased by Fannie Mae and Freddie Mac. Mortgage lenders may apply the restrictions for loans currently in process; however, requirements are mandatory for all loan applications received on or after December 14, 2020. The COVID-19 temporary rule for self-employed borrowers has been…
Read MoreInspire someone you love to own their own home in 2021
20% Discounts! For print orders placed on BookBaby, enter the following discount codes at checkout: Housing Finance 2020: 2020E Hipoteca 2020: 2020S Welcome to the Agrihood: veggie Select your book from the home page, and choose BookBaby on the applicable list of book distributors.
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