Earlier this week we learned that Fannie Mae (and Freddie Mac) plan on increasing their Loan Level Pricing Adjustments (LLPA) beginning April Fool’s Day 2014. This will, without doubt, impact interest rates for loans to those with even the most pristine credit. My friends at The National Real Estate Post put out a layman’s article […]Read More Fannie Mae’s G-Fee? What is this and what will it do to interest rates?
Fannie Mae wants you to know that the home you’re looking at right now will be more expensive in 60 days – this is NO April Fool’s Joke! Fannie Mae is implementing NEW and IMPROVED upfront fees which will impact interest rates – even for the most prudent credit conscious consumers. Beginning on or around […]Read More Fannie Mae making loans more expensive April 1, 2014…hip hip….ugh
As the ‘ol saying goes…what goes down must go up….er….uhm….wait a minute….do I have that backwards? Apparently I’m not the only one who has that backwards. Fannie Mae, one of the nation’s largest mortgage giants, will be discontinuing it’s 3% down payment loan. How does Fannie Mae’s decision affect your local mortgage lenders? Fannie is the […]Read More Are 3% down payment loans gone?!?!?
Do you remember that scene in Braveheart when William Wallace and the loan officers….er….I mean rebels descended upon the real estate agents….er….I mean the King and his nobles? The loan officers…er, eh hum….I mean rebels, were acting out of crazed desperation. How does this relate to YOU, the real estate professional? How does this relate to […]Read More Real Estate Agent BEWARE!
The FHA, due to the shutdown, sent out a bulletin with a list of Q&As. *important read for agents AND lenders Q: Can I get an FHA case number? A: Yes. Lenders will be able to obtain an FHA case number from the FHA Connection. Q: Will FHA endorse single family loans during a shutdown? […]Read More Gov’t shutDOWN and FHA loans – don’t get stranded at the closing table!
I bet you didn’t know that your real estate transaction could be derailed by a background check being done on the seller, buyer’s agent, listing agent, appraiser or other licensed professionals associated with your transaction, did ya?? it doesn’t happen very often, BUT that doesn’t mean that it can’t! lenders scrub the names of all […]Read More LDP/GSA – to close or not to close??
HUD came out with three major changes this week for FHA loans when case numbers ordered April 1 2012 and afterward. This does not mean that the loan must be closed by April 1, 2012 but a contract must be executed and the FHA case number ordered through their system by that date. It is […]Read More IMPORTANT CHANGES THAT WILL AFFECT YOUR FHA CLIENTS