The Smart Team of NOVA® Home Loans

Rent Trends Continue to Help Lenders; FHA and Ginnie Changes in the Marketplace

Posted To: Pipeline Press

If you’re a lender in only one state, just think about the state and federal regulations you must deal with, not to mention the investor or agency rules. If you’re a nationwide lender, you can grapple with 49 other rules and regulations. If you service loans, throw on some more. What if you’re a worldwide bank? Citigroup will place a global regulatory affairs team ” in Washington, D.C., to help the bank “assess the impact of existing and proposed regulations on our franchise, clients and customers,” according to an internal memo. It is always good for residential loan originators to know the rental situation in their area. If rental rates, or house prices, are going up 5% a year and incomes are only going up 2% a year, well, that is a problem. Until recently, the combination…(read more)

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Source: Mortgage News Daily

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