WASHINGTON – March 22, 2010 – Self-employed and seasonal workers historically have struggled to meet eligibility criteria for loans. Their plight has worsened of late, however, now that changes to Fannie Mae and Freddie Mac rules governing “no doc” and “no ratio” loans have kicked in. Under the revised guidelines, self-employed individuals, 1099 filers, and [...]
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Hot Property Historic Alafia River – 2.5 acres with 450 feet of beautiful riverfront. Just minutes from FishHawk and no HOA!!450 feet of ALAFIA RIVER at it's finest For Sale $249,900 
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According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent. “Such low rates are spurring mortgage demand,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. “Interest rates for 30-year fixed-rate loans were the lowest [...] RISMEDIA, August 18, 2009-Freddie Mac recently announced that in the second quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or fixed. Ninety-nine percent of prime borrowers who originally had a conforming ARM selected a new conforming fixed-rate mortgage when they refinanced, up slightly from [...] The dream of homeownership is alive and well in the U.S., the president of the nation’s largest real estate trade association recently told a professional group in Fort Worth. Consumers want back in the market on two conditions: They can get a home for a good price and financing at an affordable rate. With so [...] New rules to safeguard the integrity of home appraisals are complicating the deals they’re supposed to protect. Real estate agents, mortgage brokers and buyers, as well as homeowners who want to refinance their loans, are feeling the effects of rules designed to prevent inflationary appraisals that helped fuel the housing boom. Since May 1, home [...] Many homeowners are anxious to refinance with interest rates being near 50 year lows. Unfortunately, you may have one or more circumstances that could prevent you from doing so. These are some of the most common problems: Negative Equity. If you bought your home a few years ago and little or no money down, chances are your loan [...] FHFA Sends GSE Housing Goals to Federal Register Proposed Rule Adjusts Certain Goals for Market Conditions; Provides Credit for Loan Modifications WASHINGTON-The Federal Housing Finance Agency (FHFA) yesterday sent a proposed rule establishing 2009 housing goals for Fannie Mae and Freddie Mac to the Federal Register for publication. Loan modifications undertaken by the [...] IN SEARCH OF THE ELUSIVE JUMBO LOAN Mortgage experts say that lenders will soon begin making loans between $625,500 and $729,750 in high-cost housing markets now that Fannie Mae and Freddie Mac have issued underwriting standards. Starting May 4, Fannie Mae and Freddie Mac say they’ll start buying loans up to the new conforming-loan limit [...] FANNIE MAE AND FREDDIE MAC HELPING MORE HOMEOWNERS; LOAN MODIFICATIONS INCREASING Washington, DC – Fannie Mae and Freddie Mac modified nearly 24,000 loans during the fourth quarter of 2008, an increase of 76 percent over the third quarter. The modifications, along with the suspension of foreclosures that began November 26, reduced the number of foreclosures [...] APPRAISALS Effective May 1, 2009, all home sales backed by Fannie Mae and Freddie Mac must follow the Home Valuation Code of Conduct (HVCC), and licensed real estate agents cannot serve as a third party between a lender and appraiser. Brokers who offer lending services must also fully comply if there is an expectation that [...] |
Featured PropertyHistoric Alafia River – 2.5 acres with 450 feet of beautiful riverfront. Just minutes from FishHawk and no HOA!!450 feet of ALAFIA RIVER at it's finest For Sale $249,900 |
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