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pmi: FHA Mortgage Insurance and Seller Concession Changes – Ramifications - 09/02/10 02:11 AM
HUD has regrettably increased the annual mortgage insurance premium and soon will have succeeded in reducing the allowable seller concessions.  It's easy to know that this will have a big impact but it will actually change the lending landscape by dramatically decreasing FHA's presence in the marketplace and shifting loan volume to Fannie Mae and FreddieMac who share an uncertain future to say the least.  It will also shift loans to private mortgage insurers, most of whom are either financially anemic or are still reeling from the volatile markets of the last 2.5 years.  And it needn't be said that the private … (20 comments)

pmi: Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense - 05/30/10 12:59 AM
It is inevitable that FHA will play less and less of a role in the lending market.  As this unfolds, it's critical for loan officers, Realtors and borrowers alike to understand the many options in the improving private mortgage insurance market.  In the distant days when home values were increasing, it made perfect sense for borrowers to opt for monthly mortgage insurance and wait till their home had appreciated to the point where they had a twenty percent equity position. They'd soon call their lender to get an appraisal ordered and drop their monthly mortgage insurance.  Those days are gone.  In … (20 comments)

 
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Charles Dailey - NMLS ID#79048

Saint Paul, MN

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iLoan - NMLS ID#4474

Address: 2324 University Avenue West, Suite 111, Saint Paul, MN, 55114-1843

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