Countrywide Home Loans Inc., Calabasas, Calif., has announced a new program to streamline home loan applications.Countrywide's Fast and Easy Loan for single-family, detached homes allows homebuyers with solid credit histories and homeowners who want to refinance to apply for a loan without providing documentation of income or assets. To apply, a borrower provides only basic information on salary, financial assets, and debts (no documentation necessary); authorizes Countrywide to verify credit information; and provides personal identification prior to loan closing. The product is a conforming, fixed-rate loan available for terms of 10, 15, 20, 25, and 30 years. It requires a at least a 10% downpayment.
-
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
1h ago -
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
2h ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
3h ago -
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
3h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
5h ago -
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
11h ago