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  • The Fiscal Cliff: The Basics

    By Sylvia SetashUnited Nations Federal Credit Union McLean, VA – It’s safe to say that by this point, we’re all aware of the fiscal cliff and its status as the elephant in the room.  Everyone knows that some sort of decision has to be made by the first of the year and that it affects every taxpayer.  As for ...
    Posted to Mortgage News (Weblog) by 608080 on September 1, 2015
  • Elimination of FHA “Prepayment Penalty”

    On August 26, 2014, the Federal Housing Administration (FHA) issued its final rule to eliminate post-payment interest charges on FHA-insured single family mortgages.  NAR has urged FHA and Ginnie Mae to remove this prepayment penalty for years as the policy placed an unreasonable burden on consumers who already face high housing and closing ...
    Posted to Mortgage News (Weblog) by 608080 on September 30, 2014
  • Mortgage Rates Rise to 1-Month Highs

    Mortgage rates continued moving higher at a fairly quick pace today.  Some borrowers may now start to see rate quotes moving up an eighth of a point.  This is significant because most of the recent movement in the rate market has only affected the closing cost side of the equation.  This can be thought of as a ...
    Posted to Mortgage News (Weblog) by 608080 on September 10, 2014