Business owners, 1099 contractors and freelancers can qualify for a mortgage using a profit and loss statement instead of tax returns. Here’s how P&L loans work and who they fit.
Mortgage rates eased this week as the 10-year Treasury yield slid from its early-October peak. Here’s what moved, why mortgage rates follow the 10-year, and how LA buyers and homeowners can think about locking or floating.
A reported draft White House order would target refinance pricing, title costs, appraisals and mortgage insurance, but it is not signed policy. Here’s what it would do, what’s confirmed, and what it means for LA buyers and homeowners.
Lenders can now choose Classic FICO or VantageScore 4.0 on Fannie Mae and Freddie Mac loans, and both scores now price the same. Here’s what’s in effect, what’s only reported, like a move to two-bureau credit reports, and what it means for LA borrowers.
Tougher project standards for loans sold to Fannie Mae and Freddie Mac do not set a condo’s price, but they decide who can get a loan and how long that takes.
Ginnie Mae President Joe Gormley says the Trump administration is “very comfortable†with current FHA mortgage insurance premiums (MIP) for single-family loans and reverse mortgages — so don’t expect a …
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