CFPB clarifies rule: Agents may see Closing Disclosure

WASHINGTON – July 11, 2017 – It’s acceptable for real estate professionals to receive a copy of the closing disclosure from lenders, the Consumer Financial Protection Bureau (CFPB) ruled late last week. About a year ago, the CFPB released this clarification, and...

Fannie Mae takes friendlier approach to debts

It’s the No. 1 reason why mortgage applicants nationwide get rejected: They’re carrying too much debt relative to their monthly incomes. It’s especially a deal-killer for millennials early in their careers who have to stretch every month to pay the rent and bills. But...

30-year mortgage rate falls below 4%

WASHINGTON (AP) – May 25, 2017 – Long-term U.S. mortgage rates fell this week to their lowest levels of the year. The benchmark 30-year rate dipped below the key 4 percent mark. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year fixed-rate home loans...