Quicken Loans To Pay Heavy Fines

Judge orders Quicken Loans to pay $11 million in fines and damages

By Ken Harney

July 20

Quicken Loans arguably has the mortgage industry’s most squeaky-clean image – named by J.D. Power as No. 1 in home loan customer satisfaction for seven years in a row and No. 1 in loan servicing for three years straight. It also has a reputation as a technology innovator: Witness its heavily advertised and popular “Rocket Mortgage” option that cuts time and red tape for applicants.

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Mortgage Rates

MCLEAN, VA–(Marketwired – Jul 13, 2017) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS

®), showing average mortgage rates rising across the board for the second consecutive week.

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Credit “repair” firms may not help your credit

‘Credit-repair’ firms pay $2 million to settle complaints of abusive practices

By Kenneth R. Harney

July 5

You’ve almost certainly seen or heard pitches for “credit repair” services promising to clean up your credit problems, reduce your debt or even raise your credit scores by 100 points or more.

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How to Prepare Your Home for Sale

How to ditch vibe-crushers that could give potential buyers the creeps

By Valli Herman

July 6

Whether it’s an off-putting odor, kitschy decor or questionable artwork, a good real estate agent knows how to disappear such sale-killers for potential buyers without offending the home seller.

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Three Types of Loans If Your Credit Isn’t Perfect

3 Types Of Loans To Go For If You’re Credit Challenged

By J.R. Duren

July 6

The latest numbers from mortgage analysts Ellie Mae show that the average FICO score of approved conventional mortgages is 732. If a borrower has low credit scores (650 and under), then that average FICO score could seem like a chasm between them and the home they want to buy. But just because the average credit scores for a conventional mortgage are above 732 doesn’t mean low-credit borrowers are shut out of homes. Continue reading

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Pending Home Sales Tumble in May

Pending Home Sales Tumble in May for Third Straight Month

WASHINGTON (June 28, 2017) – The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of Realtors®. None of the major regions saw an increase in contract activity last month.

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A new Online way to assess you home’s worth

Mortgage broker unveils another online way to assess what your house is worth

By Kenneth R. Harney

June 28

Do we really need another Zillow Zestimate-style online gizmo to tell us what a computer model says our homes are worth? Probably not. There already are scads of real estate and mortgage websites that offer some type of automated home valuation feature: Redfin, Realtor.com, Chase Mortgage, RE/MAX, Homes.com, Bank of America Mortgage and Coldwell Banker, to name just a handful.

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Probate Home Sales Rules

Probate Home Sales Have Their Own Special Rules

By Bob Hunt

June 26

Frequently the real estate that had been owned by a person now deceased is made available for sale through a procedure commonly known as a “probate sale.” When this happens a somewhat complex set of rules comes into play, especially, of course, in California.

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Good time to sell?

71 Percent of Homeowners Believe It’s a Good Time to Sell; Economic and Financial Confidence Dips: Realtors® HOME Survey

WASHINGTON (June 26, 2017) – Existing housing inventory has declined year over year each month for two straight years, but new consumer findings from the National Association of Realtors® offer hope that the growing number of homeowners who think now is a good time to sell will eventually lead to more listings.

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Home Sales Rise in May

Existing-Home Sales Rise 1.1 Percent in May; Median Sales Price Ascends to New High

WASHINGTON (June 21, 2017) – Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors®. All major regions except for the Midwest saw an increase in sales last month. Continue reading

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