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George Osborne switches mortgage to exclusive bank on the CHEAP while ...
http://www.mirror.co.uk/news/uk-news/george-osborne-rbc-mortgage-chancellor-3062406
George Osborne switches mortgage to exclusive bank on the CHEAP while ... More than a million people worry what will happen when the time comes to pay off their mortgages – and they are not rich enough to take advantage of the benefits of RBC. There are currently 2.6million Brits with interest-only mortgages and the

Bernanke leaves legacy of stimulus and stagnation
http://www.latimes.com/business/la-fi-bernanke-legacy-20140126,0,4780686.story
By driving interest rates down to historic lows, the Fed chairman helped fuel a huge surge in the stock market, where the wealthiest 1% of Americans have been far better positioned to take advantage of gains than their less affluent fellow citizens. To

A troubled home is sold on the North Side
http://www.startribune.com/local/minneapolis/241991401.html
A troubled home is sold on the North Side Some neighborhoods, such as Willard Hay and Near North, saw significant gains in median sales prices in 2013 as investors swooped in to take advantage of some of the lowest-cost housing in the metro area. But in Jordan, home of 1611 Hillside, the

Holidays not the only factor in consumers' massive debt struggles
http://www.observer-reporter.com/article/20140125/NEWS01/140129501
Mary Loftus is a vice president of Advantage Credit Card Counseling Service, which works with clients who have “much higher” than average credit card debt. Observer-Reporter Order a Print. Madeline Innis leads a financial fitness class According to

Advantage Mortgage Consulting Award Ceremony 2005

CFPB ending special treatment for Fannie, Freddie in mortgage rule

WASHINGTON — The Consumer Financial Protection Bureau is planning to end its special treatment for certain mortgages backed by Fannie Mae and Freddie Mac in the agency's underwriting rules, Director Kathy Kraninger said Thursday.

The CFPB's regulation requiring lenders to verify their borrowers' ability to repay includes protection for a category of loans known as "qualified mortgages." So-called QM loans include certain features such a 43% debt-to-income limit.

But the rule, which was issued in 2013 and took effect in 2014, included a temporary exemption for loans backed by the government-sponsored enterprises. Fannie and Freddie mortgages are automatically QM, even with a higher DTI ratio. Butthat provision, known as the GSE "patch," is set to expire in January 2021.

Kraninger said the CFPB intends to shift away from the patch or consider only a short extension to “facilitate a smooth and orderly transition” as the Trump administration launches renewed efforts to release Fannie and Freddie from conservatorship. Nearly a third of GSE-backed loans currently enjoy the benefits of the exemption.

How the Fed’s interest rate decisions affect mortgage rates

“Mortgage rates are so low today because the popularity of that note has driven its price up and its yield down (there is an inverse relationship between bond prices and yields),” says Robert Frick, corporate economist at Navy Federal Credit Union.

However, there can be indirect impact on long-term interest rates if, for example, the Fed surprised economists and didn’t lower rates. This move could indicate that the Fed isn’t promoting growth, which could prompt U.S. markets to react .

“Under that scenario, I think short-term rates would move up, but long-term rates could conceivably decline if markets ‘think’ the Fed isn’t acting aggressively enough to support the economy and will eventually have to cut short-term rates even more. But that’s not our call,” says Nancy Vanden Houten, CFA, senior economist at Oxford Economics.

Variable-rate loans will get cheaper

The winners, if the Fed lowers rates, are borrowers with variable-rate loans. The bigger the loan, the bigger the savings. So, home equity lines of credit (HELOCs) and adjustable-rate mortgages (ARMs) will get less expensive if rates drop. This is because those interest rates are tied to short-term rates such as the prime rate, which moves in lockstep with the Fed rate.

Advantage Florida Mortgage would like to know how many days can the approval process take?

Advantage Florida Mortgage would like to know how long does the approval process take?


Approval process today takes prox., 2 weeks, or from 10-14 working days. Banks taking there times today. Good Luck!

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