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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: 4 Predictions for the 2021 Mortgage Market

4 Predictions for the 2021 Mortgage Market

The 2020 housing market surprised everyone by quickly bouncing back after slumping during the first few months of the coronavirus pandemic. What might the coming year hold as the country continues to fight its way through this crisis? The experts at the National Association of Real Estate Editors conference last week made these four predictions for the mortgage world in 2021.   Mortgage Rates Will Rise from Record Lows As the COVID crisis eases and the economy improves, long-term mortgage interest rates (which hit multiple historic lows this year) will begin to rise. Averaging 3....

January 13th, 2021 | Mortgage News, 4 Predictions for the 2021 Mortgage Market

Blog Image: How the Eviction Moratorium Affects Utah Landlords and Their Mortgages

How the Eviction Moratorium Affects Utah Landlords and Their Mortgages

At the beginning of the coronavirus pandemic, the U.S. government declared a six-month moratorium on all rental evictions, including in Utah, in an effort to prevent mass homelessness as millions lost their jobs. That moratorium has since been renewed by the Trump Administration and the Centers for Disease Control and will now last until the end of 2020. The new ban on evictions applies to people with incomes of $99,000 or less and who attest to not being able to afford their rent. Roughly 40 million Americans will be covered under this new housing payment halt. While that news obviously...

November 18th, 2020 | Mortgage News, How the Eviction Moratorium Affects Utah Landlords and Their Mortgages

Blog Image: How the New Fed Policy Will Affect Utah Mortgage Rates

How the New Fed Policy Will Affect Utah Mortgage Rates

The U.S. Federal Reserve recently announced its new approach to monetary policy, setting the markets abuzz with rumors. Will Utah mortgage interest rates remain low? Will they jump? Here’s what the Fed’s policy means for mortgage loans.   Fed Policy: More Job Focus, Less Inflation Concern Historically, the Fed has had two main goals. The first has been to encourage strong employment rates while the second has been to keep the national inflation rate around 2%. On average, the Fed has been fairly successful in its aims. Of course, there have been exceptions, like the rec...

September 16th, 2020 | Interest Rates, Mortgage News, How the New Fed Policy Will Affect Utah Mortgage Rates

Blog Image: New FICO “Resilience” Credit Score Could Help Borrowers

New FICO “Resilience” Credit Score Could Help Borrowers

As the U.S. economy reels from record-high unemployment and continued COVID-19 shutdowns, the Fair Isaac Corp. (FICO), a global analytics company and producer of the FICO credit score, released a new credit index recently it hopes will keep mortgage lending in Utah and other loans flowing during these unprecedented times. After reviewing over 70 million consumer credit files from the Great Recession, FICO found that the majority of consumers - including those with lower credit scores - kept up with their financial obligations even during that time of double-digit unemployment and devas...

July 15th, 2020 | Credit and Debt, Mortgage News, New FICO “Resilience” Credit Score Could Help Borrowers

Blog Image: You Can You Still Get a Home Loan with Tighter Standards

You Can You Still Get a Home Loan with Tighter Standards

Since the coronavirus outbreak began, millions of Americans, including Utahs, have filed for unemployment. The resulting fear about being unable to pay for expenses has caused more than 3.5 million homeowners to apply for mortgage forbearance to date. That has put lenders in a tight spot. With so many borrowers delaying their mortgage payments, lenders have less cash on hand to make new home loans. Plus, the number of forbearance cases coupled with continued COVID-19 shutdowns has created increased the risk for lenders of mass loan defaults. In order to moderate that risk, lenders are tight...

June 10th, 2020 | Mortgage News, You Can You Still Get a Home Loan with Tighter Standards

Blog Image: FHFA: Borrowers in Forbearance CAN Refinance

FHFA: Borrowers in Forbearance CAN Refinance

The onset of the COVID-19 crisis has forced millions of Americans into unemployment, resulting in over 4.1 million homeowners applying for mortgage forbearance. There has been plenty of confusion about how the rules of forbearance – a payment deferral plan – affect everything from credit scores to the ability to refinance or sell. Last week the Federal Housing Finance Agency announced changes to Fannie Mae and Freddie Mac forbearance policy that will allow borrowers to refinance out of their modified loans. In the past, mortgage loans in forbearance could not be refinanced for a...

May 27th, 2020 | Mortgage News, Refinance, Home Buying or Selling, FHFA: Borrowers in Forbearance CAN Refinance

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