FT Mortgage Cos., Dallas, is introducing a credit card that the borrower can use to make a downpayment on a mortgage.The Downpayment Card acts as a normal Visa card. When a person applies for a loan at any of the FT affiliates, he or she can simultaneously apply for the card. The card can be used to get a cash advance to get the funds needed. No cash out of pocket is needed for a downpayment on a 95%-97% loan-to-value ratio mortgage. In effect, the borrower is getting 100% financing. After the loan closes, the card can be used like any other Visa card.
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Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
November 22 -
In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.
November 22 -
Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.
November 22 -
Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
November 22 -
The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.
November 22 -
Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.
November 22