Meanwhile, Countrywide Home Loans Inc. has introduced a mortgage program designed to support homeownership for enlisted U.S. military personnel with minimal funds for downpayments and closing costs.The U.S. Military Optimum Loan Program allows qualifying enlisted personnel to buy homes with little down and to use nontraditional income sources, the company said. The program's flexible guidelines allow for a minimum cash downpayment of $500, or 1% of the sales price; the inclusions of different types of military pay, such as flight or hazard pay, as income sources; and the use of income from a boarder for families who rent out a room during a family member's deployment. Countrywide said the guidelines also permit the use of supplemental undocumented income from borrowers who have taken second jobs for which the pay is not easily verified, and cosigning by a family member or close friend for a primary borrower buying a home during a deployment.
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The Office of the Comptroller of Currency said it will no longer include examinations for disparate impact liability but will still perform fair lending risk assessments on a regular basis.
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The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
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Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
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Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
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While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
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Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
6h ago