• Adverse Market Fee

    By Escala Financial on November 20, 2020

    The FHFA has implemented a 50bps hit on any refinance purchase by a Fannie or Freddie after December 1, 2020. The “adverse market” fee was vehemently opposed by realtors and mortgage lenders who achieved a delay in its immediate implementation. Further efforts to rescind the fee have proven unsuccessful. The fee will result in increased interest rates to consumers in

  • Effects of Covid 19

    By Escala Financial on May 13, 2020

    Effects of Covid 19 on the mortgage and real estate industry have been significant. Mortgage rates have decreased but credit standards have increased, particularly for self-employed borrowers and employees in impacted industries. Home prices meanwhile are experiencing rapid price appreciation which are also a result of low rates and buyers seeking refuge in a home of their own. The homebuying

  • Escala Financial has become a direct lender!

    By Escala Financial on April 8, 2020

    We now have the capability of funding our own loans to provide our customers the best rates available. The transition to a direct lender from a pure Broker is a milestone for the company and is an achievement that represents Escala Financial’s commitment to a safe and highly satisfying mortgage process for our clients.

  • Conventional lenders loosen guidelines

    By Escala Financial on October 19, 2015

    As the economy and housing market continue to hum along, lenders are loosening their lending criteria.  What usually happens is that in the wake of a housing disaster like we had in 2008, the conventional kings (freddie and fannie) got really tight on their lending criteria and lenders (ie big bank or wholesale lenders) added their own, even tighter criteria on

  • Housing Discrimination exists; still.

    By Escala Financial on September 16, 2015

    A New York bank recently settled with state regulators over their practice of not lending in minority communities. They outlined service areas which by-and-large excluded minority communities. The practice known as red-lining is illegal and a form of housing discrimination. While we would like to think that our society has moved past these types of small-minded behavior, this example reminds