Fannie Mae’s G-Fee? What is this and what will it do to interest rates?

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 […]

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Are 3% down payment loans gone?!?!?

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 […]

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Real Estate Agent BEWARE!

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 […]

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LDP/GSA – to close or not to close??

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 […]

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