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Pitiful Housing Supply Slighted Dampened Q2 Home Sales
Headstrong is a rather interesting word, but the National Association of Realtors® (NAR) chose it to describe the continuing imbalance between supply and demand in the housing market. NAR blames this imbalance for slightly tempering home sales as well as pushing continued robust price growth i
Freddie Mac Puts Price on All-Cash Transactions
BY: Jann Swanson As investors flooded into the housing market after it collapses, they brought cash with them. At one point, 35 percent of home sale transactions were closed without a mortgage, i.e. were all-cash sales. Home prices are up, the bargains are gone, but cash sales remain significantl
Freddie moves ahead with appraisal alternative for purchases
Freddie Mac has gotten the go-ahead from the Federal Housing Finance Agency to launch an appraisal alternative for qualifying purchase mortgages. The FHFA on Friday confirmed that it has approved Freddie's plan to make its automated collateral evaluator available for qualified home purchases starting Sept. 1. Fre
Home Price Gains Slow on FHFA Index
The Federal Housing Finance Agency (FHFA) reported on Tuesday that home prices were up in 48 states and the District of Columbia during the second quarter of 2017. The agency said that its Housing Price Index appreciated 1.6 percent compared to the first quarter of the year. Year-over-ye
How Much Would Bonds Need to Rally to Suggest a Broader Bounce?
The short answer is "to 10yr yields below 2.66% and ideally below 2.49%." Those are the levels we'd need to see in order to suggest a more substantial move lower in rates. Unfortunately, the more germane questions involve rates on the other end of the spectrum. The first of those questi
How the GOP Tax Bill Affects Individual Taxpayers In 2018
President Trump signed his tax reform into law on December 22nd. You may already see changes in your take-home by the end of February. On top of lower tax rates, the bill nearly doubles the standard deduction to $12,000 for individuals and $24,000 for married couples: Single $0 – $9,525 (10%) $9,5
Interest on Home Equity Loans Often Still Deductible Under New Law
The IRS has advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans. Responding to many questions received from taxpayers and tax professionals, the IRS said that despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a
It’s Tax time! Here are a few links for information you may find useful for this time of year.
Popular Tax Benefits An Old Tax Scam Tax Breaks You Can Still Take Deductible Under New Law
Fannie Mae Potentially More Prohibitive on Ratios Over 45%
Desktop Underwriter/Desktop Originator Version 10.2 Release Please be aware of the latest version of DU (DU Version 10.2) is going live this weekend. It is possible that it may become more challenging to get Approved/Eligible findings with ratios over 45%. Please see the complete Release Note
Tax Season Tips from Vision Financial Group
Here are some links to tips for your returns this year courtesy of Vision Financial Group CPAs LLP: Real estate deductions in NJ Best time to file your taxes Tax audits risks Check out Vision Financial Group CPAs LLP
Northstar Funding Makes Financing Easier for Condo Owners with FHA
Northstar Funding is now offering FHA financing on individual condo units. Under the updated guidelines which took effect on Oct. 15, 2019 – an individual condo unit in a building of 10 units or more may be eligible for spot approval if 10% or less of the units are FHA-insured. For units in buildings with f
Guideline for Cash Deposits
Really interesting guideline for cash deposits. The borrower can deposit less than 50% of their total monthly income in cash and they won't source it. • Large deposits are considered to be a single deposit where any unsourced portion of thedeposit exceeds 50% of the combined gross monthly income of the