Michigan Mortgage News

Mortgage securitization is the financial process of pooling together multiple mortgage loans and converting them into tradable investment securities. These securities are then sold to investors in the secondary market. This process provides liquidity to lenders, enabling them to issue more loans and support continued access to home financing.

The Federal Housing Administration Title I Home Improvement Loan Program is a government-backed initiative designed to help homeowners finance necessary repairs, upgrades, and improvements to their primary residence. Established under the National Housing Act, this program makes funding accessible for individuals who may not qualify for traditional home equity loans due to limited equity or lower credit scores.

The mortgage approval process is a critical step in the path to homeownership. While lending guidelines are designed to promote fair and consistent evaluation, studies have shown that disparities persist based on gender and race. These differences raise important concerns about equal access to credit and the long-term effects on wealth building, community development, and financial equity in the United States.