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Real Estate Matters | CFPB's 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
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
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
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 ...

HomeStreet Bank moves to sell off almost entire mortgage business

According to the bank, it has retained Keefe, Bruyette & Woods to “seek buyers to acquire its stand-alone home loan centers and related mortgage origination personnel.”

According to HomeStreet’s website, the company has 72 home loan centers: 37 in Washington, 16 in California, six in Hawaii, five in Idaho, and eight in Oregon.

Additionally, the bank is using MountainView Transaction Advisory to find buyers for “the majority of its single-family mortgage servicing rights principally related to loans originated by those home loan centers and personnel.”

According to the company, it is not planning on exiting the mortgage business entirely though. If the sales are completed, HomeStreet said that it will maintain a “smaller mortgage operation” that will be part of its commercial and consumer banking business, with mortgages sourced through its bank branches, online banking services, and affinity relationships.

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...