5 Ways Your Lender Can Help You Get the House

In today's competitive housing market where many areas nationwide are seeing a far-leaning seller's market with limited inventory, it's important for buyers to put their very best foot forward and have all their t's crossed and i's dotted before they find "the one". Most buyers don't consider just how much their mortgage lender can help them land... Continue Reading →

Buying a Home? Make Sure Your Finances Are in Order First

Below is a guest blog post by Janet Elliot of RE/MAX Purchasing a new home is part of the American Dream, just as much as graduating high school and college, getting married, and having children. It’s also the hardest part of the dream to achieve; you need patience, resilience, thick skin, and great financial planning. The latter is the... Continue Reading →

HOLY TRID! New Regulations for the Mortgage Industry Start Today!

Today marks the 1st day of new federally mandated regulations known as "TRID" (TILA-RESPA Integrated Disclosures). The Consumer Financial Protection Bureau (CFPB) has introduced these new regulations as part of their "Know Before You Owe" initiative. New forms are part of TRID whose purpose is to help make it easier for borrowers to understand complex... Continue Reading →

Benefits of a Homestyle Renovation Loan

According to Fannie Mae, the "HomeStyle Renovation mortgage permits borrowers to include financing for home improvements in a purchase or re-finance transaction of an existing home". The HomeStyle Renovation Loan gives borrowers a convenient option to pay for renovations. Additionally, this loan provides an alternative to a second mortgage, home equity line of credit or other type... Continue Reading →

Mason-McDuffie Mortgage IS ready for QM

Today the CFPB’s new Ability To Repay / Qualified Mortgage (ATR / QM) regulation goes into effect for loans with an application date of January 10, 2014 forward. We are ready! The rule is complex and operationally challenging, and there are still many aspects that remain unclear. The investor market is still working through its requirements... Continue Reading →

GDP Rises, but Consumer Spending Eases!

Featured Chart for Friday, November 8th - Mortgage Market Guide (www.VantageProduction.com) The first of three readings on 3rd Quarter Gross Domestic Product showed that the US economy expanded by 2.8%, up from the 2nd quarter reading of 2.5% and well above the 1.9% expected. The rise was due in part to a buildup in inventories,... Continue Reading →

Interest Rate Charts from Mason-McDuffie Mortgage

In this market it helps to look back at the history of interest rates. We hope you find the information helpful. Click Here for the 30 Year FHLMC Rates On 30-Year Fixed-Rate Mortgage Chart Click Here for the 200 Year Historical Rates On 30-Year Fixed-Rate Mortgage Chart Click Here for the 20 Year FHA Interest... Continue Reading →

MBA: Stevens Calls for End to Government Shutdown

Washington, D.C. (October 3, 2013) – David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), today issued the following statement in reaction to the government shutdown and its affect on the housing market. “The federal government shutdown will have a growing impact on the housing market the longer it continues. If this... Continue Reading →

The Impact of the Government Shutdown on the Mortgage Process

Though the media and both political parties would like you to believe that there will be no immediate impact on American businesses, that isn’t exactly true for the Mortgage industry. Here at Mason-McDuffie Mortgage we want to make sure that everyone understand exactly what the impact will be if you are currently in process for... Continue Reading →

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