Colorado Association of REALTORS | mortgage
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mortgage Tag

What a Government Shutdown Means for REALTORS®

(As of January 10, 2019)   As of midnight on December 21, 2018, the President and Congress were unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government. As a result, a partial shutdown of some government operations has occurred. This partial shutdown includes some federal housing, mortgage, and other programs of interest to the real...

House owner/real estate agent giving away the keys - house out of focus

How to get buy: The do’s and don’ts of home buying

  Matthew Leprino, REALTOR® and spokesperson for CAR, shares insight on purchasing a home in Denver with 9News. He discusses changes in the qualification process over the years, how much money to put down on a home,  "do's and don't's," and advice for social media. ### Video originally posted on 9News.com. Their website can be accessed by clicking here....

Fannie and Freddie Launch 3% Down Program

Mortgage giants Fannie Mae and Freddie Mac have launched a program called Home Possible Advantage, a conventional mortgage with 3 percent down-payment requirement designed for low-and moderate-income borrowers. The program is expected to expand credit for qualified home buyers who may have been priced out of the market due to higher down-payment requirements. Home Possible Advantage is a conforming conventional mortgage...

One-Year Extension of Mortgage Debt Forgiveness Tax Relief

On Dec. 3, 2014, the House of Representatives passed H.R. 5771, the Tax Increase Prevention Act of 2014, by a strong bipartisan vote of 378-46.  The Senate has not yet acted on the tax extenders, but is expected to do so the week of Dec. 8.  Please visit the Mortgage Debt Cancellation Relief page on realtor.org for any developments in...

Get Your Client’s Mortgage Closed On Time

How Finding the Right Lender Can Get Your Client’s Mortgage Closed On Time By Todd Crowley   Picture this: You’ve been working with your clients for months—putting in additional hours, working late nights and weekends—trying to find them the perfect house. The home is found, the purchase contract is signed, you have worked through the transaction details, and you are ready to close. ...

Are the New CFPB Rules Affecting Your Business?

The CFPB’s (Consumer Financial Protection Bureau) new Ability-to-Pay Rule took effect on January 10, 2014. This new rule amends regulation Z under the authority of the Dodd-Frank financial industry reform. It requires mortgage lenders to consider consumers’ ability to repay home loans before extending them credit. There is also a category of loans, called “qualified mortgages,” that limit how much home buyer’s income can go toward debt. How...

Fed Moves to Simplify Mortgage Loan Process

New rules take effect in 2015. The Consumer Financial Protection Bureau has enacted a new rule that will require the banking industry to provide consumers with easy-to-understand loan information; and remove old, monotonous provisions that complicate the home buying process and confuse buyers. The most significant change makes it a requirement for originators to provide easy access to basic information such as...

How Government Shutdown Affects Real Estate Industry

The Federal Government shut down is still at an impasse. What does it mean for the real estate industry?  It means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding. The National Association of REALTORS® has released a brief on some of the issues...