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fannie mae: Mortgages Likely to Change Hands - 02/11/12 10:21 AM
“Who owns my mortgage?”
It’s a frequently asked question, and the reason is always the same: A change is needed. Someone is trying to refinance the mortgage, or is trying to save a house from foreclosure, among possible scenarios.
Finding the answer to this question has become extremely important to many homeowners, but especially those in financial trouble. The many programs designed to stem the record tide of foreclosures have different requirements, depending on where your mortgage ended up after you signed that huge stack of papers at settlement.
For example, if your mortgage is guaranteed … (0 comments)
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fannie mae: Home loan market future prediction - 05/03/11 07:10 AM
Uncle Sam is backing away from a big part of the home-loan business in a slow retreat that will ultimately make mortgages more expensive. The trade-off is that taxpayers won’t bear the cost — or not as much of it — if the housing market implodes again. It will take years to wind down Fannie Mae and Freddie Mac, the infamous failed mortgage giants now in conservatorship. But we’re already getting a taste of what life will be like without them.
For decades, Fannie and Freddie formed a vast, secondary market for mortgage loans by standardizing terms, then packaging loans into … (1 comments)
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fannie mae: Growing Number of Homeowners Becoming Landlords - 09/25/10 08:03 AM
A growing number of homeowners are finding out what it means to be a landlord after failing to sell their homes in today’s economy. With home prices down nationwide, many don’t want to take a huge loss when they decide to move. They want to wait to see whether they can rebuild their equity—so they rent.
“People just really don’t want to be landlords, and they really have no choice,” said Dennis Dickstein, a Realtor at Real Estate One in Farmington Hills, Mich., who estimates that 20% of his deals are leases.
Mark and Rhonda LaVelle decided to buy a bigger home … (2 comments)
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fannie mae: Fannie, Freddie in the Home-Selling Business - 09/21/10 10:16 AM
Fannie Mae and Freddie Mac repossessed more than 191,000 homes during the first six months of 2010, twice as many as a year earlier. The mortgage financiers must act carefully to avoid flooding the market with foreclosures, which tend to depress neighborhood home prices in the process. As an alternative, Fannie Mae has launched a pilot "lease-and-hold" program in which foreclosures are rented rather than sold; the move could pose challenges, however, as the firm takes on the new role of property manager. Source: The Wall Street Journal, Nick Timiraos (09/17/10)
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fannie mae: Looking Toward the Future – What’s Next for Housing Finance, Fannie Mae and Freddie Mac? - 09/03/10 05:00 PM
With the overhaul of financial regulation in the bag, the Obama administration will focus next on housing finance with an eye to deciding the fate of mortgage finance titans Fannie Mae and Freddie Mac.
The administration said in a statement that it would hold a Conference on the Future of Housing Finance at the Treasury Department on Aug. 17. It will seek input for legislation to reform the rules governing mortgage finance and the markets for bonds backed by U.S. mortgages.
The Bush administration placed Fannie Mae and Freddie Mac in government conservatorship in September 2008. Uncertainty about what to do … (0 comments)
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fannie mae: Responsible Homeowners Drown in Debt with No Offer of Help - 07/16/10 05:04 PM
Scott Katzer owes about $200,000 more than his Fort Lauderdale home is worth. Unable to sell anytime soon, he wants to reduce his monthly mortgage payment by refinancing to a lower interest rate.Katzer doesn't qualify under a government refinancing program because the value of his home is so much lower than what he owes.Private lenders turn him down for the same reason.And he's ineligible for assistance from a state-run program because he has a job and can pay the mortgage.Katzer, a 40-year-old engineering consultant, is one of thousands of homeowners who are underwater, the term applied to those whose homes are … (0 comments)
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fannie mae: Fannie Mae’s loan quality initiative: another potential snag with financing - 06/17/10 07:00 AM
Fannie Mae’s new Loan Quality Initiative (LQI) mandates become effective on June 1, 2010, and this will definitely curtail borrowers’ spending before their home closings. The June 1 changes are part of a new effort by mortgage giant Fannie Mae to cut down on slipshod underwriting by lenders and frauds by borrowers. Fannie's so-called "loan quality initiative" will require lenders not only to pull two credit reports for each mortgage transaction but to perform additional verifications of borrower occupancy plans for the property, Social Security numbers and Individual Taxpayer Identification Numbers, among other changes. These last minute credit checks could result … (2 comments)
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Christopher Pataki Hockessin Delaware Real Estate
Hockessin,
DE
More about me…
RE/MAX Associates
Address: 1302 Old Lancaster Pike, Hockessin, DE, 19707
Office Phone: (302) 234-3800
Cell Phone: (302) 562-0628
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Working with buyers and sellers to aid in financial decisions using real estate. I service the following areas - Hockessin, Wilmington, Newark, New Castle, Bear, Middletown, Townsend, Delaware City, Claymont and other areas of New Castle County Delaware
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