fha: Dear Big Lender, I am deleting all related posts from my blog & will be giving any clients considering you for a loan/services a reality check - 05/13/10 10:49 AM
I've been pulled out from my temporary blogging hiatus by a post which has been brought on by the incredibly poor communication and service that buyers who are in contract on a property are encountering with their loan rep (someone who they selected on their own). Their rep is now playing games in releasing their FHA case # to their new mortgage broker (excuse me, but haven't you screwed things up enough for these buyers let alone charging them an astronomical appraisal fee?). On top of never giving them an estimate of lender costs even after repeated requests by myself, the … (3 comments)
fha: The FHA approves using Docusign! - 04/11/10 12:19 PM
photo by ZeldaFan999 Very exciting news came through this week from Docusign! On April 8, 2010, e-signed third-party documents, including real estate contracts, are now being accepted by the Federal Housing Administration (FHA) with the issuance of today's mortgagee letter. This mortgagee letter is the first in what is expected to be a series of responses to this initiative. With this policy statement from the nation's largest mortgage insurer, real estate professionals can use DocuSign to get real estate contracts, addenda and other documents signed electronically, and their buyers can apply for FHA insurance with confidence. The FHA mortgagee letter … (3 comments)
fha: Mortgage Interest Rates from Guarantee Mortgage for the week ending 1/21/2010 - 01/23/10 09:57 AM
Mortgage Interest rates from Guarantee Mortgage for the week ending 1/21/2010: 30 Yr Fixed Conforming to $417K 4.750% "1.000" POINTS APR = 4.961% 30 Yr Fixed Jumbo to $729,750. 4.875% "1.000" POINTS APR = 4.981% 30 Year Fixed Jumbo to 1 Million 5.875% "1.000" POINTS APR = 6.081% 5 Year Fixed Jumbo to 1 Million 5.125% "0.000" POINTS APR = 5.474% 7 Year Fixed Jumbo to 1 Million 5.500% "0.500" POINTS APR = 5.691% 30 Year Fixed FHA Conforming 5.125% "0.000" POINTS APR = 5.671% If you need a recommendation to a mortgage broker, let me know. I'm happy to … (2 comments)
Looks like change is underway for FHA loans as the Federal Housing Administration prepares to raise fees this Spring. It doesn't look like an exact date is in place at this time. Currently, the upfront mortgage insurance premium is at 1.75% & will rise to 2.25%. This fee can be rolled into the loan amount. Borrowers with a credit score of less than 580 will be required to come in with a 10% down payment. The 3.5% minimum down payment will still be an option for borrowers with a score of at least 580. Seller credits to buyers … (2 comments)
fha: Current Conforming Loan Limits Extended Through 2010!! - 11/04/09 08:14 AM
Yeah!!! Good news for our very pricey market place. It's incredibly challenging to find a single family home in San Francisco in the low-600's (there are more choices if we're talking condos); this $729+ number makes sense for our market. Most of my 2009 buyers have been getting into the market because of FHA loans. They are a complicated loan but provide an opportunity for buyers who have at least a 3.5% down payment. Here are the details as provided by the S.F. Association of Realtors: President Obama has signed a resolution passed last Thursday by Congress extending the current limits … (0 comments)
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I've been pulled out from my temporary blogging hiatus by a post which has been brought on by the incredibly poor communication and service that buyers who are in contract on a property are encountering with their loan rep (someone who they selected on their own).
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