On Friday, job reports came out with better than expected news, leading many, including President Obama, to believe the “worst may be behind us.” This optimism fueled a stock rally and drove mortgage rates up. The question I am often asked is “why does good news for the economy mean bad news for mortgage rates?” [...]

With the implementation of the Mortgage Disclosure Improvement Act (MDIA) this Friday, July 30, changes are taking place that will have a dramatic impact on real estate transaction closing times. According to the MDIA a borrower can no longer be charged any fees, other than a fee for pulling credit, until they have received their [...]

No-documentation and stated income loans were a major catalyst for the mortgage boom. As the name suggests, borrowers did not have to provide proof of their income; these loans have become to be known as “liar loans” because many people exaggerated their income to qualify for homes they would not otherwise. This type of loan [...]

Listed on page 63 of 87 President Obama’s financial reform plan is the only mention of financial education. I am glad it made the final draft, but it appears as a minor, secondary concern of the administration. Financial reform is necessary and it’s coming, but it will be diminished if the importance of financial education [...]