fannie mae: Fannie Mae Began Purchasing New Loan Limit Loans on April 1st - 04/15/08 05:25 PM
Fannie Mae began purchasing the fixed rate "Jumbo" mortgages on April 1, 2008.  These loans are loans that meet the new temporary loan limits that congress set for 2008.  The loans for single family residences have to be manually underewritten until Fannie's automated underwriting systems are updated.  Purchase of adjustable rate … (2 comments)

fannie mae: Fannie Mae and Freddie Mac add pricing adjustments for Bad Credit - 11/30/07 08:23 PM
Fannie Mae and Freddie Mac are adding pricing adjustments to loans with Fico scores of less than 680.  The pricing adjustments are taking place March 1, 2008 but lenders are implementing the changes now.  National City Mortgage has already added in the pricing adjustments to their loan products.  Citimortgage is adding … (3 comments)

fannie mae: Fannie Mae Making it Harder For First Time Home Buyers - 11/20/07 06:13 PM
Fannie Mae is changing their guidelines again that will make it harder for First Time Home Buyers with little money to buy a home.  Currently the My Community Loan Program allows for up to a 6% seller paid closing costs.  This is changing on December 1st, the maximum is now going … (11 comments)

fannie mae: Fannie Mae is making changes again to 100% Financing - 09/21/07 07:48 AM
Fannie Mae hasn't made a public announcement yet, but it told all of its lenders that big changes are coming for 100% financing programs backed by Fannie Mae.  What are the changes?  Fannie Mae is getting rid of EA-II and EA-III approval for all of its 100% financing programs.  DU (Desk … (8 comments)

 
Loan Officer: John Thomas (Primary Residential Mortgage Inc.)
John Thomas
Newark, DE
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Primary Residential Mortgage Inc.

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