despite rising home prices, more than 30% of borrowers, or close to 16 million homeowners, were underwater on their mortgage during the first quarter, according to zillow.
mortgage rates fall to new records
mortgage rates for 30-year loan now stand at 3.78 percent. fixed mortgage rates for 15-year loans are unchanged at 3.04 percent, a record low.
fixed mortgage rates hover at record lows
a 30-year fixed rate mortgage averaged 3.78 percent; one year ago, the 30-year frm averaged 4.6 percent
mortgage lenders face risk and additional cost of doing business
kroll factual data, inc. , a leading provider of independent verification services to mortgage lenders, banks, credit unions and property management firms, announced today that more than 14 percent of the loan files processed by kroll factual data in 2011, and in the first quarter of 2012, contained certain applicant-provided information that suggested the possibility of fraudulent activity.
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