HispanicLending.com, Dallas, has launched "Casa de Sueno," a new downpayment assistance gift program that offers qualified Hispanic buyers in all 50 states up to 10% of the purchase price of their new home.Executives said industry data continue to show that lack of downpayment funds remains one of the biggest barriers to homeownership. The program may also be used for closing-cost expenses and will be administered by AmeriDream Inc., a nonprofit provider of affordable housing opportunities for low- to moderate-income individuals and families. Other benefits of the program include a homebuyer education course and flexible qualifications for both first-time homebuyers and homeowners, regardless of age, race, creed, or gender, HispanicLending.com said. The company can be found online at http://www.hispaniclending.com.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17