LoanPros.com, Huntington Beach, Calif., is offering a $1 million prize to the first person who can bring in a certified extraterrestrial being to apply for a home loan.The company said the idea was inspired by an ABC News documentary, "The UFO Phenomenon -- Seeing Is Believing," broadcast on Feb. 25. "We believe the existence of extraterrestrials is real and we want to do whatever we can to promote government disclosure -- but it's also a good promotional idea," said Wayne R. Goldman, president of LoanPros.com. "The prize is real and we will stand behind it." Among the criteria that would have to be satisfied is that the extraterrestrial must be able to sign its name on the loan documents, Mr. Goldman said. The company can be found online at http://www.loanpros.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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