Mortgage Lending
Getting a home loan can be a challenge for self-employed people: A typical mortgage lender wants to see one job with steady month-over-month income. But an independent contractor might have time off between jobs, varying amounts of income each pay period, and business income that looks low because of capital investments, which are common tax write-offs…
Read MoreIt is no secret that the self-employed borrower is treated differently in today’s mortgage lending environment. But then, Inwood National Bank’s Mortgage Group is a different type of lender. We recently closed on a loan after the original lender failed to meet the contract closing date. In fact, a week after the original closing date,…
Read MoreInteresting story in the Los Angeles Times. According to their business desk, banks are easing lending restrictions and lending more freely, using “creative financing,” which could bring more risk to the market. The story, which talks about “piggyback financing” and other risky mortgage loans, says that with higher prices comes more risk in housing finance.…
Read MoreThe real estate landscape is constantly changing, thanks to a regulatory environment that is learning from its past. After the housing bubble burst, fueled by the sub-prime lending market crash, lawmakers were in a frenzy to control the damage. The question is, though, with regulatory belt-tightening, will there be unintended consequences? How can this actually…
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