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Real Estate Matters | CFPB's new 'qualified mortgage' rule now in effect
http://www.washingtonpost.com/blogs/where-we-live/wp/2014/01/22/real-estate-matters-cfpbs-new-qualified-mortgage-rule-now-in-effect/
Real Estate Matters | CFPB's new 'qualified mortgage' rule now in effect To be considered a qualified mortgage, a lender may not charge excessive upfront points and fees (capped at 3 percent of the loan), and the loan cannot be longer than 30 years in length (say goodbye to 40-year mortgages.) Also, interest-only loans

Color of Money: New mortgage rules tough but fair
http://www.washingtonpost.com/business/color-of-money-new-mortgage-rules-tough-but-fair/2014/01/13/fe823016-762d-11e3-b1c5-739e63e9c9a7_story.html
Color of Money: New mortgage rules tough but fair It seems so basic: Require mortgage lenders to qualify borrowers based on their ability to repay the loan. Yet this wasn't the case for many mortgages in the run-up to the housing crisis contributing to the mess we're still in. Nevertheless, you can

New mortgage rules aim to protect home buyers, owners
http://www.washingtonpost.com/business/economy/new-mortgage-rules-aim-to-protect-home-buyers-owners/2014/01/09/f928ebaa-793e-11e3-b1c5-739e63e9c9a7_story.html
New mortgage rules aim to protect home buyers, owners In real estate markets such as Washington, where prices are high, prospective buyers could run up against the limit as they stretch their finances to buy homes. But some of the nation's largest banks, including Wells Fargo, have said they will offer

Refighting the 'mortgage wars' could bring new risks to the housing market
http://www.washingtonpost.com/business/refighting-the-mortgage-wars-could-bring-new-risks-to-the-housing-market/2014/01/17/7404c8a4-7e25-11e3-9556-4a4bf7bcbd84_story.html
As Howard tells it, the real story begins two decades ago, when big banks and other mortgage lenders sought a bigger share of a mortgage finance business that was generating year after year of double-digit earnings growth for Fan and Fred. As

loans, Washington National Home Mortgage, lenders, Auburn, WA

Call Washington National Home Mortgage in Auburn, WA at 888-312-8376. Let us guide you through the home buying or refinancing process, and provide ...

The Senate is poised to roll back rules meant to root out discrimination by mortgage lenders

The Senate is poised to pass a bill this week that would weaken the government’s ability to enforce fair-lending requirements, making it easier for community banks to hide discrimination   against minority mortgage applicants and harder for regulators to root out predatory lenders.

The sweeping bill rolls back banking rules passed after the 2008 financial crisis, including a little-known part of the Dodd-Frank Act that required banks and credit unions to report more detailed lending data so abuses could be spotted.

The bipartisan plan, which is expected to pass, would exempt 85 percent of banks and credit unions from the new requirement, according to a Consumer Financial Protection Bureau analysis of 2013 data.

The mortgage industry says the expanded data requirements are onerous and costly, especially for small lenders. But civil rights and consumer advocates say the information is critical to identifying troubling patterns that warrant further investigation by regulators.

Megabank Chase rarely lends to DC minorities – and it's likely legal

Across the street from the White House is the U.S. capital’s only outpost of the nation’s largest bank – tucked away on the ninth floor of a gray stone tower.

The bank’s name, JPMorgan Chase & Co., appears on the directory in the building’s lobby. According to the company’s website, the office features “a team of dedicated specialists” who offer a “comprehensive range of financing choices, including mortgages and lines of credit.”

But the office is not open to the public. Stop by and security will turn you away. And while the bank has a team of professionals designed to serve the district’s rich, it is not technically a branch. So, in Washington, Chase doesn’t have to abide by the Community Reinvestment Act – a 1977 law designed to reverse the legacy of redlining, or racial discrimination in lending. The law requires banks to lend in low- and moderate-income areas only if they have a branch in the area that takes deposits.

And so, even though Chase rarely lends to low-income residents or people of color, who make up a majority of the region’s population, it is not breaking the law.

Does anyone know of any lenders that are willing to do a 80% first mortgage?

I need a lender who can do a 80% first mortgage, and have the seller carryback the 20% second. I am in washington state. Please advise. I have alot of clients that needs this type of financing.


Plenty of lenders will still allow it. ING for one if you don't mind your clients being taken by their retail side.

Problem is - where are you going to find someone stupid enough to do the 20% second? The 80% is easy...