There’s a lot of contraction going on in the mortgage-financing world, even though mortgage rates have held steady at around and sometimes even below 4 percent.
MetLife recently announced it is “closing its home-mortgage origination operation,” and in the process will eliminate 804 jobs in Texas, a move that is expected to cost the company as much as $110 million. The co
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That’s the good news. Now, the bad news. Wymar has a pretty restrictive field of membership. Credit Unions are allowed to restrict who can join to certain organizations, geographies, places of workship, or other criteria. Wymar membership is open to:
Not all credit unions are this restrictive.
In another good sign for the housing market, todays home builders believe that the housing market has turned a corner.
For the third straight month, the Housing Market Index a home builder confidence survey from the National Association of Homebuilders reported strong monthly gains.
Decembers Housing Market Index climbed 2 points to 21 in December after a downward revision to last months results. The index is now up seven points since September 2011, and sits at a 19-month high.
When home builder confidence reads 50 or better, it reflects favorable conditions in the single-family new home market.
President Obama signed into action on December 23rd, 2011 the new payroll tax cut creating a holiday gift for nearly 160 million workers, but intentionally hidden in the legislation is the fact that new home buyers will be paying higher fees and a higher mortgage rate to pay for the payroll tax. In a time when the housing recovery is beginning to show signs of recovery, will this move set us back another 2 steps or actually save business’s enough money to hire more employees and decrease unemployment numbers?
To start with, the new payroll tax is temporary and will reduce the amount of taxes paid by 2 percent for individuals making up to $106,800 and is applied through February 29th, 2012 and will likely be extended throughout the remainder of the year. The extension also applies to self employed individuals and the reduction is automatic.
The new payroll tax legislation is great for the hard working Americans who are having a tough time in today’s economy, but to put the extra burden on the housing market is just plain silly. The housing market has always been the determining factor leading the U.S. into an
1st United Services Credit Union has several locations in California and offers financial services and mortgage lending.
According to National Credit Union Administration data, 1st United Services Credit Union originated a little over $67 million in mortgages in 2010.
They are listed as active on the national registry and their primary regulator is the National Credit Union Administration.
1st United Services CU Website Review
Note: Take a look at our post called the Top 5 Biggest Consumer Complaints!
The 1st United Services Credit Union website has a tab for real estate loans and when you click on it, there is a small paragraph about them and also a link to their mortgage center.
Number seven on our is the refinance article, “HARP 2.0: Your 5 steps to approval.”
Publish date: November 09, 2011
Written by: Dan Green
Excerpt:
If you’re among the more than 7 million who are expected to qualify under the expanded HARP 2.0 guidelines, there are several preparatory steps you need to take to ensure your application is reviewed first.
Since HARP mortgages are backed by Fannie Mae and Freddie Mac, the underwriting process will resemble that of any other conventional mortgage. There