Down-Payment Standards Eased

As down-payment requirements are reduced, the opportunity for lending becomes more available and will allow the market to prosper. Some states have lowered their standards of how much of the property amount may be borrowed. Now, consumers can make a down-payment of only 5% and borrow the remaining amount of the property. The reduction in […]

Critics Say New Appraisal Rules Drive Down Values

Beginning February 15, 2010 mortgage brokers will no longer be able to choose their appraisers, in hopes that appraisers will make more accurate value assessments.  Loans that are insured by the Federal Housing Administration will be appraised by third-party appraisal management companies.  Brokers, realtors, loan-production staff and anyone who has commission in the deal will […]