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Mortgage lending loosens in June

NEW YORK (Reuters) – Wells Fargo & Co has relaxed its standards for loans for some high-priced homes as the largest U.S. mortgage lender tries to combat an industry-wide drop in mortgage volumes.

Mortgage underwriting guidelines have loosened in the last couple of years.. Fannie Mae began accepting mortgages with loan-to-value (LTV) ratios up to. Mae raised its DTI ratio level from 45 to 50 percent in July 2017.

Low mortgage rates have many people thinking about buying a new home or refinancing their current mortgage. To take advantage, figure out your budget and get prequalified for a loan. Don’t jump. to.

 · Loan term. Loan term is the length of your mortgage, or how long you are scheduled to make payments. Mortgage loan terms typically range from five years up to 50 years and increase by increments of five years. Lenders don’t usually offer every.

Foreclosure aid programs lifted by $70.1 million in NeighborWorks funds Mortgage Delinquencies Pass 10%: LPS Pending home sales rise for 15th straight month A "pending home sale" is a home under contract to sell, but not yet closed. The forward-looking Pending Home Sales Index is up 11 percent from its low of the year, according to the National Association of REALTORS, and well ahead of its rolling 6-month average.Mortgage Default Rate Spikes In June: LPS.. ( TheStreet) — The national mortgage delinquency rate rose sharply in June, according to LPS, though the seasonal increase is usually not this.

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