If you work in the mortgage industry, you know what a FICO score is. Fair Isaac Corporation is a benchmark of credit score modeling used by the mortgage industry. In 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act passed which required Fannie Mae and Freddie Mac to solicit third-party credit scoring models that [...]
Why is the Housing Market Thriving in a Pandemic? The deadliest pandemic in more than a century has failed to derail the housing market because of the lowest mortgage rates ever recorded coupled with a shift in how people use their homes. Chief economist of the National Association of Realtors, Lawrence Yun posted that buyers [...]
How are Interest Rates Determined? What’s the current rate? As loan officers we get this question daily. While it seems like an innocuous question that should be simple enough to answer, there are many variables that play a role in determining the “current rate.” While there is no such thing as the “current rate,” there [...]
I may sound like I am beating a horse at this point…for the 2nd time, but again interest rates are on absolute fire at a 50-year low. No matter what your goals are, how many homes you have…now is the time to strike while the iron is hot. Make sure to take advantage and pick [...]
I may sound like I am beating a horse at this point, but interest rates are on absolute fire at a 50-year low. No matter what your goals are, how many homes you have… now is the time to strike while the iron is hot. Make sure to take advantage and pick up those additional [...]
The world sure is an interesting place right now. Whether you are on the right or the left, the good news is interest rates are at a 50-year low. No matter what your goals are, how many homes you have…now is the time to strike while the iron is hot. Make sure to take advantage [...]