How Cheaper Oil Affects Mortgage Rates

(Source: NY Times) – Falling oil prices typically lead to lower heating bills and cheaper fill-ups at the gasoline pump. Less obvious to the average consumer is the role cheaper oil is playing in driving down mortgage rates.

It is a complicated and indirect link that will likely keep rates low well into 2015, economists say. (more…)

Should bankruptcy judges reduce mortgage principal balances?

(Source: OC Housing News) – Ever since the Great Housing Bubble began to deflate, everyone incorrectly identified foreclosure as a problem because foreclosure pushes people out of the house the bank bought for them. The real problem is not foreclosure; the real problem is that borrowers have excessive debts due to the huge loans lenders underwrote that inflated the housing bubble. Foreclosure is not the problem, it is the cure. (more…)

FHA Announces New Loan Limits for 2015 Will Remain the Same

The Federal Housing Administration (FHA) recently announced, that the new schedule of loan limits for 2015 will remain the same as the 2014 levels. These limits also include the FHA-insured reverse mortgages, which will remain unchanged in 2015.

The current standard loan limit for low-cost housing areas will also remain unchanged at $271,050, and high cost areas such as San Francisco; Washington, D.C.; New York, and some areas in Los Angeles, the FHA loan limit will remain at $625,500. (more…)

Here’s how the mortgage industry can upgrade its image

(Source: Washington Post) – In this commentary, Cody Kessler, a branch manager with Rockville-based Kessler Lending Advisors, a division of HomeBridge Financial Services, takes his industry to task and offers suggestions on how it can regain consumer trust.

If you were to take a stroll down any given street in America, on any given day, my guess is that you would be hard pressed to find anyone who would say that they have a deep-seeded love of the mortgage industry. (more…)