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foreclosure: Independent Foreclosure Review - 01/24/12 11:57 AM
The following information was compiled and copied from the the Office of the Comptroller of the Currency (OCC) website: http://www.occ.gov. As part of a consent order with federal bank regulators, the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS) (independent bureaus of the U.S. Department of the Treasury), and the Board of Governors of the Federal Reserve System, fourteen mortgage servicers and their affiliates are identifying customers who were part of a foreclosure action on their primary residence during the period of January 1, 2009 to December 31, 2010. The Independent Foreclosure Review is providing … (0 comments)

foreclosure: Applying for a home loan after a foreclosure or short sale - 12/15/10 02:52 PM
With the current market conditions and the large number of home owners who are facing foreclosure or short sales, this question comes up often, "How long do I have to wait before I can qualify for a mortgage loan after I go through a foreclosure or a short sale?". Fannie Mae, who sets most conventional loan guidelines updated their waiting period guidelines this year. Below is a table showing the various derogatory credit event and the waiting period requirements:

(1) The maximum LTV ratios permitted are the lesser of the LTV ratios in this table or the maximum LTV ratios … (4 comments)

 

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