The mortgage lending industry and its public referees have responded to short-term rentals with more accommodation than restriction, a positive development for homeowners who hope to earn income through a short-term rental platform. Not only is it possible for homeowners to potentially secure more favorable financing terms on their primary residences if they are renting them out — they also have the same opportunity to do so if they purchase a second home.

When it comes to lending, the rules seem to change weekly. To help keep you in the know, it’s wise to seek the expertise of lending professionals like the ones featured in this story, who opened up to us

Top-producing agents differentiate themselves by providing their developers consulting advice prior to the construction phase. Agents provide crucial information that can ensure the development meets all lender guidelines, so that sales can close once construction is complete. Here are

A new bill introduced earlier this week aims to change long lender delays with short

Freddie Mac and Fannie Mae, the two government-controlled mortgage entities, have announced that they will freeze all foreclosure evictions on mortgage loans they own or back from Dec. 20, 2010 through Jan.3, 2011. “If the property is occupied, our

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending November 19, 2010.  The Market Composite Index, a measure of mortgage loan application volume, increased 2.1 percent on a seasonally adjusted basis from one

The Consumer Mortgage Bureau has developed two new designation programs to define the Mortgage Industry in the wake of the S.A.F.E. Mortgage Licensing Act of 2008: the Registered Mortgage Professional (RMP) and the Licensed Mortgage Professional (LMP). On July

Veterans Day is an annual U.S. holiday for honoring our military veterans. The federal holiday is observed on Nov. 11 every year, and is also known as Armistice Day or Remembrance day throughout the world. The date is significant,

Financially challenged homeowners who are at risk of losing their homes can now rely on The Foreclosure Defense Group (FDG), a Rosemont, Ill.-based firm that matches clients to attorneys who can fight lenders in court and work to completely

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 15, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 10.5 percent on a seasonally adjusted basis from

For this issue’s Ask a Lender, Jeff Baker, a vice president of mortgage lending with Guaranteed Rate, answers questions posed by Chicagoland Realtors. In today’s world, rules and regulations have proliferated through the mortgage lending industry. The last couple

The Federal Housing Administration (FHA) today announced a new modified version of its Home Equity Conversion Mortgage (HECM) product. The HECM loan is a reverse mortgage insured by the federal government. It allows older home owners to tap into

An Opportunity For Everyone By Rob Weber We have all seen properties that aren’t in the greatest of shape, but there is a way to sell prospects on potential. With renovation financing, you can show your buyers how to

For this issue’s Ask a Lender Column, Brian Weis, vice president of mortgage lending for Guaranteed Rate, answers a number of questions posed by Chicagoland Realtors in a variety of locations. Q: What is HVCC and how will it

What You May Not Know By Mark Schmidt It’s hard not to hear about reverse mortgages these days with celebrity endorsers like Robert Wagner, Pat Boone, James Garner and, most recently, Henry Winkler (yes, The Fonz) showing up on

For this issue’s Ask a Lender Column, Randy Thomas, sales manager for Guaranteed Rate’s Oak Brook office, answers a number of questions posed by Chicagoland Realtors in a variety of locations. Q: Why is it that when I refer