Category Archives: PEMCO News

Is “Perfect” Underwriting Hindering the Housing Market Recovery?

Photo credit: 401(K) 2012     Least-qualified borrower credit score rates are similar before and after housing crash Since the post-housing crisis, credit availability has tightened for mortgage purchases. During the past five years, borrowers who took out mortgages have paid their mortgages better than any other group of mortgage borrowers in history. While this is […]

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Standardizing Data Collection in the Appraisal and Lending Environment  

Photo credit: justgrimes     Dataset uniformity provide clarity for GSEs and lenders The mortgage industry is on the path to solidifying a foundation for sustainable success. Part of this can be attributed to how the government-sponsored enterprises (GSEs) reconfigured the foundation on data. Tangible results have come out of creating a common protocol, approach and […]

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FHFA Extends HARP and Offers High LTV Refinancing Option

  Photo credit: Apple Realty     Extended through next September and reaching out to more than 300,000 eligible borrowers The Federal Housing Finance Agency (FHFA) announced that its Home Affordable Refinance Program (HARP), originally scheduled to run out at the end of this year, will be extended through September 30, 2017. FHFA found there are […]

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What’s the Real Reason Behind Declining Homeownership?

Photo credit: futureatlas.com     Millennials are following other generations The U.S. Census Bureau reported in July that the homeownership rate has fallen a half a percent since last year, down to 62.9%. It has been 50 years since the U.S. homeownership rate has been this low. A recent article highlighting a Zillow analysis of home […]

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Streamlining the Appraisal Process

Photo credit: Mark Moz Almost anyone who has used ride-sharing services such as Uber or Lyft can attest to the platform’s simplicity and common-sense approach to moving people from point A to B. In the real estate realm, there’s Roostify, an automated mortgage transaction platform streamlining the mortgage origination process. On these platforms, the forms […]

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New Law will Lift Some FHA Condo Financing Restrictions

Photo credit: CafeCredit.com     Helps veterans get fair access to housing and programs The “Housing Opportunity Through Modernization Act” also known as H.R. 3700, was signed into law by President Obama on July 29th. This came two weeks after the US Senate unanimously passed the housing bill which makes it easier for veterans to […]

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How Will Brexit Affect the U.S. Housing Market?

Photo credit: Mick Baker     Is this much ado about nothing? In a few years, Britain will officially leave the European Union after 25 years. While financial markets were shaken and the economic growth outlook was lowered in the days after the vote, there’s been much speculation on what effect Brexit will have on Britain, […]

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Housing Market Sets 7-Year Records in May

Photo credit: myguysmoving.com     Nationally, the housing market is seeing an uptick in activity amid continuing low inventory. In May, a typical home went under contract in 42 days, a week sooner than a year ago, a record for the housing market not seen since 2009, according to Redfin. See This May be the […]

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Why These Neighborhoods Didn’t Recover from the Housing Crisis

  The U.S. housing market has mostly bounced back from the dark days of the Great Recession, but data from Black Knight Financial Services shows that the recovery hasn’t been even. The data spans from 2004 through 2015 and shows the recovery is delineated along income, geography and racial lines. A typical single-family home’s value […]

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10 Ways to Prepare Your Home for an Appraisal

Photo credit: lendingmemo.com   The low-value appraisal is feared by home sellers and refinancing homeowners, but Instead of fretting about low value appraisals, it’s best to plan and prepare to bolster the impression of the home before the appraiser comes out. Paul Prentice, senior managing appraiser at PEMCO Limited, says “it is always recommended to take […]

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