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freddie mac: Fannie and Freddie Stick The American Consumer Again! - 01/12/11 01:02 PM
As a way to thank the American taxpayer for their bail out, Fannie and Freddie have decided to stick their hands in the pocket of the American taxpayer once again.  You may or may not be aware that beginning this Spring, Fannie Mae and Freddie Mac will now charge additional fees to ALL borrowers who have a down payment of less than 25%.  Yes, you read that right, ALL borrowers, irregardless of credit score will pay an additional fee to Fannie and Freddie for a smaller down payment.  That client who has 20% down and an 800 credit score pays an … (1 comments)

freddie mac: Financing Investment Property - 07/03/08 11:15 PM
I have recently run into a string of borrowers who have been turned down by lender after lender for the purchase of investment property.  These borrowers are generally investors who have accumulated multiple properties (many within the last couple of years).  So what is the common problem these borrowers are running into that is stopping them from getting approval?  Simply put, their lenders inexperience.  Did I just say that out loud?All of these borrowers are borrowers with credit scores in excess of 720, documentable income as well as verified cash for their down payments.  So why wouldn't a lender want to … (0 comments)

freddie mac: Government to cut Jumbo loan rates? Maybe! - 01/28/08 11:10 PM
With everything going on in Washington, one thing that caught my attention is the discussion on allowing Fannie Mae and Freddie Mac to purchase mortgage loans that exceed their standard loan limit of $417,000 for most areas.  There are different rumors that the loan limit could be raised from $417,000 to as high as $700,000 at least thru the end of this year. 
For those of you who are in high cost area's where $417,000 doesn't go far, this could bring new life to the market.  As many are aware, the market for jumbo home loans went sour with many of the … (3 comments)

 
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Dan Moralez

Grand Rapids, MI

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First Place Bank

Address: 4175 Parkway Place, Grandville, MI, 49418

Office Phone: (616) 931-4629

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