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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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

Blog Image: The COVID-19 Housing Market is Better than the Great Recession Market

The COVID-19 Housing Market is Better than the Great Recession Market

Coronavirus shutdowns have spooked many homebuyers and sellers out of the market for now. Millions of homeowners have applied for mortgage forbearance in fear they will be unable to make their payments due to unemployment. Lenders have been concerned about continuing to repay their investors while not receiving payments from borrowers. All of this has prompted some to wonder if we are likely to see another housing market crash like the one that led to the Great Recession. After looking at the numbers, however, today’s homeowners are in a much better spot to weather an economic storm than...

May 13th, 2020 | Home Buying or Selling, Mortgage News, The COVID-19 Housing Market is Better than the Great Recession Market

Blog Image: How to Buy a Home During COVID-19

How to Buy a Home During COVID-19

With most of the country, including most of Utah, on shelter-in-place orders due to the outbreak of the COVID-19 virus, the homebuying process has undergone plenty of changes for those still looking to get into a home of their own. Buyers, sellers, and real estate agents have had to make adjustments for the safety of all. If you are in the midst of your home search or ready to start, here’s what you need to know about buying a home during this challenging coronavirus environment.   Virtual Shopping and Viewing Agents and sellers have had to get creative during this time ...

April 8th, 2020 | Home Buying or Selling, Mortgage News, How to Buy a Home During COVID-19

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