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FHFA Announces New Advisory Housing Committee

2022-09-01T05:24:11-07:00Private Money Lending|

A federal advisory group on affordable, equitable, and sustainable housing will be established, according to plans unveiled by the Federal Housing Finance Agency (FHFA) on Tuesday, the 23rd of August. The committee will provide recommendations and input on the need for affordable, equitable, and [...]

Savage: Home Prices Go Up 10.8%, Even With Sales Down

2022-09-01T05:24:11-07:00Private Money Lending|

On the 18th of August 2022, the National Association of Realtors noted the downward trend in existing home sales that have been evident since the increase in mortgage rates is deteriorating. The data line's worst feature is not that, though. The startling statistic (for [...]

A Private Lender’s Guide to AML and Red Flags

2022-09-08T08:01:37-07:00Private Money Lending|

Private Lenders are mostly familiar with the Patriot Act, which was implemented after 9/11. However, this act has been amended by the US government over the years. As such, lenders might be unaware that the Anti Money Laundering Act is overlaid on the Traditional [...]

Home Equity Lines of Credit are Now Raging Back

2022-08-23T02:32:15-07:00Private Money Lending|

A revived market for Home Equity Lines Of Credit (HELOCs) is fuelled by quickly growing property values and the fact that roughly two-thirds of borrowers with at least some home equity have mortgage rates below 4% and would not profit from refinancing. Through a [...]

FHFA: GSE Servicers Must Keep Fair Lending Data

2022-08-23T02:32:16-07:00Private Money Lending|

To support sustainability and equity, the Federal Housing Finance Agency (FHFA) has announced that Servicers of federally backed loans will acquire and retain fair lending data. Servicers must begin keeping records of borrowers' age, color, ethnicity, gender, and preferred language by March 1, 2023. [...]

The Complexities and Nuances of Commercial Lending Licensing

2022-08-23T02:32:16-07:00Private Money Lending|

The private lending business keeps on booming and getting more profitable across sectors. For example, private lenders who issue mortgage loans for commercial purposes are now getting numerous state licenses to lend in several states across the US, not only confining their operations to [...]

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