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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
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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.
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LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Higher Down Payment Requirement Could Derail Housing Recovery
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
Higher Down Payment Requirement Could Derail Housing Recovery
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
Higher Down Payment Requirement Could Derail Housing Recovery

March 21, 2011 (Chris Moore)
mortgage-derail-image
As part of the Dodd-Frank Finance Reform Bill, in order to reduce the risk of future housing meltdowns like the one we’ve been experiencing since 2007, mortgage lenders will be required to retain 5 percent of the risk of any home loans they make that don’t meet yet to be determined down payment requirements. Known as a “qualified residential mortgage,” or QRM, it is one of the most important pieces of the reform puzzle that some critics say could derail the housing recovery.

According to a recent study by the Center for Responsible Lending (CPL), proposals that have been suggested with required down payments as high as 20 percent could have a severe impact on the housing recovery. CRL studies show that it would take 14 years for the average American family to save enough to cover a 20 percent down payment.

With risk retention, a borrower could still purchase a home but could face interest rates as much as 3 percentage points higher than a QRM compliant borrower, which would force many borrowers out of the market according to some market analysts.

CRL argues that the government’s plan leans too heavily towards solutions that would remove excessive risk-taking by requiring higher down payments, but says higher down payments are not linked to loan performance. They blame sub-prime and alternative loan products for the decline in the mortgage market and that traditional low down payment loans should not be confused with those higher risk products.

“In fact, low down payment home loans have been a significant and safe part of the mortgage finance system for decades,” CRL contended in its analysis.

After rumors got out about the possible QRM down payment requirements, Camerom Findlay, a chief economist for LendingTree, wrote on his blog that it “would have a severe and noticeable impact for borrowers.”

For one, he said, total loan costs to borrowers will go up about 36% and about 15% to 35% of the market will no longer be qualified to apply for a loan.

The effects of QRM could be further complicated by the phasing out of Freddie Mac and Fannie Mae and a lessening role of the Federal Housing Administration (FHA) which together, insure about 90 percent of all mortgages being originated at this time.

Tags: Center for Responsible Lending, Dodd-Frank, qualified residential mortgage, QRM, down payment requirements, housing recovery, mortgage lenders, FHA, Freddie Mac, Fannie Mae

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.
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A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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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

March 21, 2011 (Chris Moore)
mortgage-derail-image
As part of the Dodd-Frank Finance Reform Bill, in order to reduce the risk of future housing meltdowns like the one we’ve been experiencing since 2007, mortgage lenders will be required to retain 5 percent of the risk of any home loans they make that don’t meet yet to be determined down payment requirements. Known as a “qualified residential mortgage,” or QRM, it is one of the most important pieces of the reform puzzle that some critics say could derail the housing recovery.

According to a recent study by the Center for Responsible Lending (CPL), proposals that have been suggested with required down payments as high as 20 percent could have a severe impact on the housing recovery. CRL studies show that it would take 14 years for the average American family to save enough to cover a 20 percent down payment.

With risk retention, a borrower could still purchase a home but could face interest rates as much as 3 percentage points higher than a QRM compliant borrower, which would force many borrowers out of the market according to some market analysts.

CRL argues that the government’s plan leans too heavily towards solutions that would remove excessive risk-taking by requiring higher down payments, but says higher down payments are not linked to loan performance. They blame sub-prime and alternative loan products for the decline in the mortgage market and that traditional low down payment loans should not be confused with those higher risk products.

“In fact, low down payment home loans have been a significant and safe part of the mortgage finance system for decades,” CRL contended in its analysis.

After rumors got out about the possible QRM down payment requirements, Camerom Findlay, a chief economist for LendingTree, wrote on his blog that it “would have a severe and noticeable impact for borrowers.”

For one, he said, total loan costs to borrowers will go up about 36% and about 15% to 35% of the market will no longer be qualified to apply for a loan.

The effects of QRM could be further complicated by the phasing out of Freddie Mac and Fannie Mae and a lessening role of the Federal Housing Administration (FHA) which together, insure about 90 percent of all mortgages being originated at this time.

Tags: Center for Responsible Lending, Dodd-Frank, qualified residential mortgage, QRM, down payment requirements, housing recovery, mortgage lenders, FHA, Freddie Mac, Fannie Mae

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

March 21, 2011 (Chris Moore)
mortgage-derail-image
As part of the Dodd-Frank Finance Reform Bill, in order to reduce the risk of future housing meltdowns like the one we’ve been experiencing since 2007, mortgage lenders will be required to retain 5 percent of the risk of any home loans they make that don’t meet yet to be determined down payment requirements. Known as a “qualified residential mortgage,” or QRM, it is one of the most important pieces of the reform puzzle that some critics say could derail the housing recovery.

According to a recent study by the Center for Responsible Lending (CPL), proposals that have been suggested with required down payments as high as 20 percent could have a severe impact on the housing recovery. CRL studies show that it would take 14 years for the average American family to save enough to cover a 20 percent down payment.

With risk retention, a borrower could still purchase a home but could face interest rates as much as 3 percentage points higher than a QRM compliant borrower, which would force many borrowers out of the market according to some market analysts.

CRL argues that the government’s plan leans too heavily towards solutions that would remove excessive risk-taking by requiring higher down payments, but says higher down payments are not linked to loan performance. They blame sub-prime and alternative loan products for the decline in the mortgage market and that traditional low down payment loans should not be confused with those higher risk products.

“In fact, low down payment home loans have been a significant and safe part of the mortgage finance system for decades,” CRL contended in its analysis.

After rumors got out about the possible QRM down payment requirements, Camerom Findlay, a chief economist for LendingTree, wrote on his blog that it “would have a severe and noticeable impact for borrowers.”

For one, he said, total loan costs to borrowers will go up about 36% and about 15% to 35% of the market will no longer be qualified to apply for a loan.

The effects of QRM could be further complicated by the phasing out of Freddie Mac and Fannie Mae and a lessening role of the Federal Housing Administration (FHA) which together, insure about 90 percent of all mortgages being originated at this time.

Tags: Center for Responsible Lending, Dodd-Frank, qualified residential mortgage, QRM, down payment requirements, housing recovery, mortgage lenders, FHA, Freddie Mac, Fannie Mae

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