Remember those special refinance programs introduced by Fannie Mae and Freddie Mac this past summer to help two million eligible low and moderate-income homeowners decrease their monthly payments? These government-backed refinance initiatives are being retooled to benefit even more lenders and homeowners. In October, it was announced that in the coming months, Fannie will expand […]
Homebuying Migration to Suburbs & Exurbs is an Opportunity for CUs
There’s a lot of homebuying and selling taking place in the U.S. suburbs and exurbs, and the COVID-19 pandemic has only intensified the situation. Why is this trend great for your credit union’s mortgage business? A June 2021 study published by Freddie Mac (“Rural Home Purchases Outpaced Urban Purchases Through the 2010s”) reveals why. The […]
HMDA Data Reveals Credit Union Mortgage Loans Are More Affordable
A recent mortgage study by the National Credit Union Administration’s (NCUA), “Interest Rates for 30-Year Fixed-Rate Mortgages Originated in 2018: Relative Findings for Credit Union Mortgage,” revealed some interesting facts about credit union mortgage loans. In their examination of 2018 Home Mortgage Disclosure Act (HMDA) data, they found that borrowers generally saved more money with […]
Remove Mortgage Closing Stress So Members Can Focus On The Getting The Keys
A preparatory review call can remove any worries about documents and details. At the end of each mortgage transaction, we are given the opportunity to be a part of the most exciting part of buying a home—receiving the keys. The excitement can often be clouded by unnecessary anxiety and stress of signing dozens of documents, […]
Time to Up Your Home Equity Lending Strategy
While no industry experts are predicting home equity lending will return to its stunning record-high activity from 15 years ago, there could still be a huge opportunity brewing from 2021 to 2022 and beyond. If both short-term and long-term interest rates rise, home equity lending rates could become attractive in relative comparison to mortgage-refinance rates. […]
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