Category: Mortgage Guidelines
September 24th, 2011, No Comments
After September 30, there will be changes to Fannie Mae loan limits for “high value” areas. In addition liquidity guidelines have change, requiring bnorrowers to show more cash after closing.
July 26th, 2011, No Comments
The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. “Going FHA” is more common than ever before — but is it better?
June 8th, 2011, No Comments
If you live in a high-cost area, keep an eye on your calendar. Effective October 1, 2011, temporary conforming loan limits will be lowered nationwide. Perhaps by as much as 14 percent.
June 1st, 2011, No Comments
The Federal Reserve’s quarterly survey of senior loan officers revealed that an overwhelming majority of U.S. banks have stopped tightening mortgage requirements for prime borrowers.