Freddie Mac announced its CHOICERenovation loan offering last week, providing homebuyers the opportunity to purchase a home and finance the cost of renovations with a single-close mortgage. The CHOICERenovation mortgage is designed to help address the nation’s aging housing supply, support the need for affordable housing, and offer renovation, repair, improvement or refinance options to support the […]
Lender Legal: CFPB Lawsuit
A recent announcement by the Consumer Finance Protection Bureau (CFPB) of its suit against Ocwen Financial Corporation further highlights the lingering effects still felt in the mortgage business. Ocwen is one of the largest mortgage loan servicers in the country. The original lender generally sells residential loans shortly after the loan is made, and […]
Client Tip: Get Money Back After Foreclosure
Your client might be entitled to money back after a foreclosure auction, if the house sells for more than the lender is owed. Because of the demand for affordable residences in markets such as ours, where home prices are surging, some homes sold at foreclosure auctions are netting more than what the lender is owed. […]