It is no secret that millennials are less active in the housing market than the generations before them, but it looks like the tide might be changing in that regard as of late. Young people have largely stayed out of the process of owning a home for many potential reasons: the recent recession, underemployment or unemployment, overwhelm from student loan…
August 2015
It is no surprise to anyone in the lending industry that the number of bank originated mortgages has decreased. Part of this is due to the economic crash of 2008 that had such a big impact on the housing market, but the fallout from the 2010 Dodd-Frank Act also had important ramifications for lenders. With many bank lenders pulling themselves…
The Federal Housing Administration has handed down new taxonomy for loan defects. The goal is to give lenders more information and improved clarity about the quality assurance provided for FHA loans, but lenders should be aware that it is not a shield free from potential piercing. In fact, this taxonomy does not offer unlimited protection against enforcement actions taken by…