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Refis are All the Rage
Mortgage rates are at their lowest level in 37 years, motivating homeowners to refinance their existing mortgages. Loan request activity on Zillow Mortgage Marketplace increased 162% in December vs....
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Welcome, Tommy Xintaris!
Please join me in welcoming Tommy Xintaris as our newest author on Mortgages Unzipped. Tommy has over 9 years of finance experience, and is currently a Mortgage Consultant at American Homefront...
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Mortgage Rates Plummet!
Mortgage rates declined significantly today on the news that the The Federal Reserve will spend an additional $750 billion over the previous $500 billion commitment to buy mortgage-backed securities....
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Lowest Mortgage Rates in 19 Years
You don't hear this very often anymore, but we're much better off now than we used to be…with mortgage rates, that is. Freddie Mac’s chart below shows that 30-year fixed rates are at an all-time low....
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Obama Says It's Time to Refi
Speaking from the White House today, President Obama urged homeowners to refinance. Mortgage rates are at historical lows, and the government’s new Making Home Affordable plan has been set into...
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Welcome, Michael Byrne!
Please join me in welcoming Michael Byrne as our newest author on Mortgages Unzipped. Michael has been in the mortgage and lending industry since 1990, and currently is a top loan officer in Gateway...
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New Plan to Help Modify Second Mortgages
President Obama’s Administration announced details of a new plan to help lower payments on second mortgages, or piggy back loans. This new program will work together with first mortgage modifications...
View ArticleJust Released: How Zillow Mortgage Marketplace Works
In this blog, I’ve (occasionally) talked about Zillow Mortgage Marketplace, or ZMM for short. Call me biased, but I think ZMM is the best place for borrowers to shop for loans, because: You are in...
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Fewer Americans on the Move
Consistent with other negative housing trends, like those highlighted in the recent Q1 Zillow Real Estate Market Reports, the U.S. Census Bureau recently released the latest numbers from its...
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BrokerBuddy Integrates Zillow Quote API
I'm happy to announce that BrokerBuddy has become Zillow's latest Quote API integration provider. Zillow Quote API automates quotes submitted by lenders on Zillow Mortgage Marketplace through an...
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Is the Refi Boom Dwindling?
What a difference a month makes. Last month, refinance requests on Zillow Mortgage Marketplace accounted for 63% of all loan requests submitted. This month, that number is down to 43%. This current...
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Mortgage Rates Drop
Mortgage rates quoted to borrowers on Zillow Mortgage Marketplace dropped significantly over the past few days. It’s been reported that the Treasury and Federal Reserve are keeping rates low by buying...
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President Obama Signs 'Helping Families Save Their Homes' Act
Yesterday, President Obama signed the Helping Families Save Their Homes Act of 2009 (S.896) into law. The goals of this law are to prevent mortgage foreclosures and enhance mortgage credit...
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LoanXEngine Integrates Zillow Quote API
I'm happy to announce that LoanXEngine has become Zillow's latest Quote API integration provider. The Zillow Quote API automates quotes submitted by lenders on Zillow Mortgage Marketplace through an...
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Welcome, Naoma Doriguzzi!
Please join me in welcoming Naoma Doriguzzi as our newest author on Mortgages Unzipped. Naoma has been originating mortgages since 2003. She has recently started a team of mortgage professionals with...
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Get E-mail Alerts When Mortgage Rates Drop
Today, Zillow launched a new feature that automatically notifies you when mortgage rates reach your target rate. Called “Mortgage Rate Alert,” this new e-mail helps those who are refinancing or...
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Get E-Mail Alerts When Mortgage Rates Drop
Today, Zillow launched a new feature that automatically notifies you when mortgage rates reach your target rate. Called “Mortgage Rate Alert,” this new e-mail helps those who are refinancing or...
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Welcome, Chris Jones!
Please join me in welcoming Chris Jones as our newest author on Mortgages Unzipped. Chris is a branch manager at City 1st Mortgage Services. He came to the mortgage world in 2002 after a long career...
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Welcome, Julie Messina!
Please join me in welcoming Julie Messina as our newest author on Mortgages Unzipped. Julie started her career in real estate finance in 1979 at a community bank in Rochester, New York. After moving...
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More Help for Underwater Homeowners
Today, the Obama administration announced an expansion of the Making Home Affordable plan, which gives homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance...
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Buyer Interest in Purchase Loans Surges
Requests for purchase loan quotes were up 12% in June vs. May, and up 230% since the start of the year, signifying what could be good news in the number of people who are shopping for homes. Zillow...
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Buyer Interest in Purchase Loans Surges
Requests for purchase loan quotes were up 12% in June vs. May, and up 230% since the start of the year, signifying what could be good news in the number of people who are shopping for homes. Zillow...
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Buyer Interest in Purchase Loans by State
Last week we reported that buyer interest for purchase loans was surging. Our analysis showed requests for purchase loan quotes on Zillow Mortgage Marketplace increased 12% in June vs. May, and 230%...
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Welcome, Keane Ng!
Please join me in welcoming Keane Ng as our newest contributor on Mortgages Unzipped! Keane has been active in the mortgage industry for more than six years and is currently a senior mortgage...
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Welcome, Kevin Sandridge!
Please join me in welcoming Kevin Sandridge as the newest contributor on Mortgages Unzipped. Kevin is a Florida mortgage broker with Signature Home Funding. A big believer in providing customers with...
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Do You Qualify for the $8000 Buyer Tax Credit?
The government’s $8,000 first-time home buyer tax credit has been a source of some confusion by those who might be eligible, but aren't quite sure if they fully meet the criteria. Now you can take a...
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Conforming Loan Limit Extension
The House Appropriations Committee approved a bill that would extend the temporary conforming loan limits in high-cost housing markets through the end of September 2010. In February of this year, as...
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Zillow Mortgage Marketplace Launches True Cost Calculation
Today, Zillow Mortgage Marketplace launched a new feature, called True Cost, that allows borrowers to make an apples-to-apples comparison of custom quotes by calculating one number that incorporates...
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More Support for Loan Modifications
The Obama administration met yesterday with mortgage companies who are participating in the Making Home Affordable loan modification program to identify ways to improve and accelerate the program....
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National Registry of Home Lenders
Last year, the Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act of 2008 was signed into law as part of the Housing and Economic Recovery Act. This law outlines procedures, requirements,...
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New Loan Detail Graphs on Zillow Mortgage Marketplace
Since it launched in April 2008, Zillow Mortgage Marketplace has offered borrowers a way to anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates...
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Unemployment Main Driver of Foreclosures
Renae Merle of The Washington Post recently reported that unemployment has overtaken subprime mortgages as the primary reason for foreclosures. Currently, the majority of those seeking help with their...
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Mortgage Rates Have Dropped
Mortgage rates quoted to borrowers on Zillow Mortgage Marketplace have dropped significantly over the past few days. The 30-year fixed rate is currently at 5.08%, which is the lowest it’s been since...
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Welcome, Ken Perlmutter!
Please join me in welcoming Ken Perlmutter as the newest contributor on Mortgages Unzipped. Ken founded Chicago-based PERL Mortgage in 1994, and over the past 15 years, has led PERL to become an...
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Welcome, Joanne Gaskin!
Please join me in welcoming Joanne Gaskin as the newest contributor on Mortgages Unzipped. Joanne is the Director, Global Scoring Solutions of FICO, responsible for the strategic direction of product...
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Home Affordable Modification Report Card Results
Today, the Making Home Affordable Modifications report card for the month of August was released by the Treasury Department. The report shows that loan servicers have extended offers for 571,354 trial...
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FBI Reports Drastic Increase in Mortgage Fraud Cases
Last week, FBI Director Robert S. Mueller, III, made a statement about the “Priorities in the FBI's Criminal Programs” before the Senate Judiciary Committee. One of the topics he covered was mortgage...
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More Homeowners are Late on Their Mortgages
Despite signs of an improving housing market, homeowners continue to be under financial stress. According to Reuters, the 30-day mortgage delinquency rate increased again in August, reaching a new...
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Low Rates Cause Surge in Refinance Loan Requests
Refinance requests on Zillow Mortgage Marketplace are up 20% so far this month versus August. The chart below shows that lower mortgage rates appear to be driving this spike in demand. In an effort to...
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New Refinance Break-Even Point and Savings Graph
Zillow Mortgage Marketplace recently launched a unique Break-Even Point graph on every loan quote borrowers receive from lenders. This graph helps borrowers who want to refinance determine their...
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New Refinance Break-Even Point and Savings Graph
Zillow Mortgage Marketplace recently launched a unique Break-Even Point graph on every loan quote borrowers receive from lenders. This graph helps borrowers who want to refinance determine their...
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Home Refinancers Save $3 Billion
Freddie Mac just released their quarterly Refinance Report, which shows that half of borrowers who refinanced a conventional loan during July-September 2009 lowered their mortgage rate by at least 17...
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$8000 Tax Credit is Extended through April 30, 2010...and it's been Expanded!
The $8000 tax credit for first-time home buyers has been extended through April 30, 2010. It was previously due to expire November 30, 2009. Not only has it been extended, but it has also been...
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Welcome, Colin Robertson!
Please join me in welcoming Colin Robertson as the newest contributor on Mortgages Unzipped. Colin began his career in the mortgage industry as a loan originator for a wholesale mortgage lender and has...
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Cimmaron Integrates Zillow Quote API
I'm happy to announce that Cimmaron Software has become Zillow's latest Quote API integration provider. The Zillow Quote API automates quotes submitted by lenders on Zillow Mortgage Marketplace through...
View ArticleFannie and Freddie Suspend Foreclosure Evictions During the Holiday Season
Fannie Mae and Freddie Mac announced yesterday that they are suspending evictions for borrowers facing foreclosure during this holiday season. The suspension is in effect from December 19, 2009...
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Welcome, Chris Birk!
Please join me in welcoming Chris Birk as the latest contributor to Mortgages Unzipped! Chris has written about real estate and business for newspapers and magazines for the better part of a decade. He...
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Mortgage Rates in Review...and a Look Ahead
Looking back on 2009, it appears that the average 30-year fixed mortgage rate was on a roller coaster ride. The rate dipped below 5.0% for much of January, then it spiked up and down during the spring...
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Welcome Mike Price as the New Editor for Mortgages Unzipped
Please join me in welcoming Mike Price as the latest member of the Mortgages Unzipped community! Mike is joining Zillow in a part-time capacity and will serve as Editor for Mortgages Unzipped. I’ve...
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Loan Officers and Mortgage Brokers: Here's a Great Way to Build Your Business
Hey loan officers, mortgage brokers, and bankers: Did you know you can attract new customers by submitting loan quotes in Zillow Mortgage Marketplace? It’s pretty easy: Borrowers create anonymous loan...
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