mortgage: Bailout Part Deuce - 09/30/08 09:51 AM
I'm with most folks. I know that we probably need the Bailout - but I don't want it. The markets are going to be better today - because it's the end of the quarter and there are somethings that have to happen, and those events will cause a temporary improvement - … (4 comments)
mortgage: Calculating FHA Downpayment - 09/24/08 02:26 PM
I've been in this business for a while... my daughter would tell you I'm old as dirt... and for as long as I've been in this, we've had a complicated way of calculating FHA Downpayment.
FHA always used acquisition cost. How much were you putting into the total aquisition of the … (6 comments)
mortgage: $7500 To Pay Mom Back - 08/25/08 04:13 PM
Many first time homebuyers are looking at past generations for help coming up with a downpayment. FHA now requires a 3.5% downpayment (effective October 1, 2008) and the downpayment assistance programs (as of today) will disappear. Fortunately, FHA allows for gift money! The gift needs to come with a letter from the person … (9 comments)
mortgage: New Law Allows More Brokers To Close FHA Loans - 12/19/07 12:51 PM
Per conversations with members of Dole's staff - understand the following is accurate. H.R. 1852 cleared House of Representatives mid-September. This legislation, loosely referred to as FHA Reform, is included in Dodd's Bill S.2338. Now that both the House and the Senate have FHA legislation, senior members of both the House and the … (8 comments)
mortgage: Senate Pred Lending Bill Read Em and Weep UPDATE - 12/14/07 04:55 AM
BIG NEWS - Per Banking Committee Website - Dodd Added the information today to "upgrade" FHA into his bill. The wording for the Bill is still not posted in entire form on Thomas - keep checking back. Raises FHA limit to FNMA; lowers downpayment and calls for BONDS not AUDIT to be approved … (12 comments)
mortgage: Where's FHA when You Need It?!? - 10/31/07 10:38 AM
According to a recent report- The PMI companies will soon be dropping like MORTGAGE COMPANIES! 3Q Earnings: PMI's Outlook Unclear; Worst of 2/28 Resets OverAmerican Banker (10/31/07) P. 13; Terris, HarryFollowing the announcement of a $372 million third-quarter loss by rival MGIC Investment Corp. earlier this month, mortgage insurer PMI Group Inc. … (2 comments)
mortgage: Sucks If Your One of the Seven - 10/26/07 03:02 PM
An interview just done at 2:30 est on Bloomburg with the CEO of Equafax - would suggest that the "subprime" past due, foreclosure mess is really only in 7 states. I found this pretty interesting, and HOPEFUL, since I don't happen to live in Cary, NC and we are NOT on his … (2 comments)
mortgage: FHA and the PMI Companies - 10/24/07 01:40 PM
We have a shot, after many years of begging, to make some real advances in FHA REFORM, but we'll need the Senate and President's help. HR 1852 is currently sitting in the Senate Banking Committee, and according to my Senator ( Ms. Libby Dole who is on the committee) it might … (2 comments)
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I'm with most folks. I know that we probably need the Bailout - but I don't want it. The markets are going to be better today - because it's the end of the quarter and there are somethings that have to happen, and those events will cause a temporary improvement - … (4 comments)
