HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fannie Mae/Freddie Mac Solution Could Hurt FHA
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fannie Mae/Freddie Mac Solution Could Hurt FHA
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fannie Mae/Freddie Mac Solution Could Hurt FHA

February 8, 2011 (Chris Moore)
mortgages-reality-check-image
As Congress wrangles with its solution to reform the role of Fannie Mae and Freddie Mac and the Obama Administration puts on the finishing touches for its plan on restructuring the two GSE giants, an unintended consequence may be an explosion in business for the Federal Housing Authority (FHA).

The housing bubble and the subsequent economic and housing crisis that ensued has resulted in unprecedented taxpayer bailouts of Wall Street, the banking industry, and the government backed secondary market purchasers Freddie Mac and Fannie Mae. Taxpayers have bailed out the two mortgage giants to the tune of $150 billion so far with costs expected to go much higher.

This has led to cries from different factions of the government to reform or privatize the two GSE’s and has led to risk retention rules via the Dodd-Frank Finance Reform Bill. But many fear within the government that as these new rules and roles are implemented borrowers may be driven to seek out FHA-insured loans with lower down payments at a time when the government wants to get out of the mortgage business.

Next Monday, the White House is slated to release its budget for fiscal year 2012 along with its plan for restructuring Fannie Mae and Freddie Mac and reducing the government’s role in the mortgage market. The budget document is expected to include proposals to restrict the FHA single-family program, possibly through higher insurance premiums, larger down payments, and maybe even lower loan limits, according to sources.

At the same time, federal regulators are contending with the requirements of the Dodd-Frank Refinance Bill’s requirement of creating a working definition for a “qualified residential mortgage (QRM)” that will exempt high quality credit loans from the risk retention rules created by the bill.

The fear is, if the QRM requirement is set too high, borrowers would then turn to the FHA and its 3.5 percent down payments in order to secure a mortgage loan to purchase a home. FHA already has a 24 percent market share and that amount would be expected to increase dramatically if the QRM is too high and borrowers naturally gravitate towards the lower cost and easier to obtain FHA loans.

Administration officials recognize the connection between FHA and the QRM rule, according to mortgage banking consultant Brian Chappelle. “If there is going to be a tough QRM reg, we should expect commensurate tightening on FHA,” Chappelle said.

And if that happens, what form would it take? Setting the bar too high to circumvent a banks requirement to retain a measly five percent risk in their loan portfolio and subsequently making FHA loans more difficult to obtain could spell big trouble for the housing industry, and in all likelihood, borrowers who meet today’s minimum standards.

Tags: mortgage giants, fannie mae, freddie mac, fha, housing bubble, housing crisis, insured loans, taxpayer bailout, mortgage business, white house, federal regulators, dodd-frank bill, lenders, borrowers

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

February 8, 2011 (Chris Moore)
mortgages-reality-check-image
As Congress wrangles with its solution to reform the role of Fannie Mae and Freddie Mac and the Obama Administration puts on the finishing touches for its plan on restructuring the two GSE giants, an unintended consequence may be an explosion in business for the Federal Housing Authority (FHA).

The housing bubble and the subsequent economic and housing crisis that ensued has resulted in unprecedented taxpayer bailouts of Wall Street, the banking industry, and the government backed secondary market purchasers Freddie Mac and Fannie Mae. Taxpayers have bailed out the two mortgage giants to the tune of $150 billion so far with costs expected to go much higher.

This has led to cries from different factions of the government to reform or privatize the two GSE’s and has led to risk retention rules via the Dodd-Frank Finance Reform Bill. But many fear within the government that as these new rules and roles are implemented borrowers may be driven to seek out FHA-insured loans with lower down payments at a time when the government wants to get out of the mortgage business.

Next Monday, the White House is slated to release its budget for fiscal year 2012 along with its plan for restructuring Fannie Mae and Freddie Mac and reducing the government’s role in the mortgage market. The budget document is expected to include proposals to restrict the FHA single-family program, possibly through higher insurance premiums, larger down payments, and maybe even lower loan limits, according to sources.

At the same time, federal regulators are contending with the requirements of the Dodd-Frank Refinance Bill’s requirement of creating a working definition for a “qualified residential mortgage (QRM)” that will exempt high quality credit loans from the risk retention rules created by the bill.

The fear is, if the QRM requirement is set too high, borrowers would then turn to the FHA and its 3.5 percent down payments in order to secure a mortgage loan to purchase a home. FHA already has a 24 percent market share and that amount would be expected to increase dramatically if the QRM is too high and borrowers naturally gravitate towards the lower cost and easier to obtain FHA loans.

Administration officials recognize the connection between FHA and the QRM rule, according to mortgage banking consultant Brian Chappelle. “If there is going to be a tough QRM reg, we should expect commensurate tightening on FHA,” Chappelle said.

And if that happens, what form would it take? Setting the bar too high to circumvent a banks requirement to retain a measly five percent risk in their loan portfolio and subsequently making FHA loans more difficult to obtain could spell big trouble for the housing industry, and in all likelihood, borrowers who meet today’s minimum standards.

Tags: mortgage giants, fannie mae, freddie mac, fha, housing bubble, housing crisis, insured loans, taxpayer bailout, mortgage business, white house, federal regulators, dodd-frank bill, lenders, borrowers

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

February 8, 2011 (Chris Moore)
mortgages-reality-check-image
As Congress wrangles with its solution to reform the role of Fannie Mae and Freddie Mac and the Obama Administration puts on the finishing touches for its plan on restructuring the two GSE giants, an unintended consequence may be an explosion in business for the Federal Housing Authority (FHA).

The housing bubble and the subsequent economic and housing crisis that ensued has resulted in unprecedented taxpayer bailouts of Wall Street, the banking industry, and the government backed secondary market purchasers Freddie Mac and Fannie Mae. Taxpayers have bailed out the two mortgage giants to the tune of $150 billion so far with costs expected to go much higher.

This has led to cries from different factions of the government to reform or privatize the two GSE’s and has led to risk retention rules via the Dodd-Frank Finance Reform Bill. But many fear within the government that as these new rules and roles are implemented borrowers may be driven to seek out FHA-insured loans with lower down payments at a time when the government wants to get out of the mortgage business.

Next Monday, the White House is slated to release its budget for fiscal year 2012 along with its plan for restructuring Fannie Mae and Freddie Mac and reducing the government’s role in the mortgage market. The budget document is expected to include proposals to restrict the FHA single-family program, possibly through higher insurance premiums, larger down payments, and maybe even lower loan limits, according to sources.

At the same time, federal regulators are contending with the requirements of the Dodd-Frank Refinance Bill’s requirement of creating a working definition for a “qualified residential mortgage (QRM)” that will exempt high quality credit loans from the risk retention rules created by the bill.

The fear is, if the QRM requirement is set too high, borrowers would then turn to the FHA and its 3.5 percent down payments in order to secure a mortgage loan to purchase a home. FHA already has a 24 percent market share and that amount would be expected to increase dramatically if the QRM is too high and borrowers naturally gravitate towards the lower cost and easier to obtain FHA loans.

Administration officials recognize the connection between FHA and the QRM rule, according to mortgage banking consultant Brian Chappelle. “If there is going to be a tough QRM reg, we should expect commensurate tightening on FHA,” Chappelle said.

And if that happens, what form would it take? Setting the bar too high to circumvent a banks requirement to retain a measly five percent risk in their loan portfolio and subsequently making FHA loans more difficult to obtain could spell big trouble for the housing industry, and in all likelihood, borrowers who meet today’s minimum standards.

Tags: mortgage giants, fannie mae, freddie mac, fha, housing bubble, housing crisis, insured loans, taxpayer bailout, mortgage business, white house, federal regulators, dodd-frank bill, lenders, borrowers

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS