Mortgage Roundup (2/16/21) – FHA, DAA & Rates

Good morning! Today is Tuesday, February 16. The U.S. House of Representatives will consider legislation to create a 9/11-style commission to examine the Capitol riot and pay for advanced security. A winter storm is causing massive power outages in Texas. NASA’s next Mars rover is getting ready to touch down inside the planet’s Jezero Crater on Feb. 18.

And in mortgage and housing news …

FHA DREAMERS: A change made by the Trump administration has opened the door for DACA recipients, often referred to as “Dreamers,” to get Federal Housing Administration loans to help in their pursuit of home ownership.

RATE INCREASE: A case for higher mortgage rates to cool the overheated housing market.  

HEALTHY CREDIT: Healthy credit is essential in the current lending environment. Here’s the score you need to buy a home

LOAN UNDERWRITING: Revisions to Fannie Mae’s automated origination system may lead to faster mortgage approvals

SELLER COMMISSION: I’m thinking of buying a home directly from the seller. He says I have to pay him a commission. Is that true? 

CITIGROUP FIX: Jane Fraser will take the helm of Citigroup next month. Her leadership will have to address damage. 

MORTGAGE INTEREST: Four things to do before paying off your mortgage early

HOME INSURANCE: Some insurance companies will dispatch risk specialists to detect problems—and even coordinate repairs—long before disaster strikes.

CLOSING TIME: Here’s why more people want to close on their mortgage at the end of the month

ON THE MOVE: The most and least popular states for Americans who moved during COVID