In case you missed these turn of events I am reposting the news here. Clearly this is very disappointing news for the Greater Los Angeles area home buyers, that Fannie Mae and Freddie Mac did not increase the conforming loan limits. So with that said: The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) issued a statement in response to the Federal Housing Finance Agency’s (FHFA) announcement to keep the 2016 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $417,000 on … (14 comments)
fannie mae: Breaking News: Fannie Mae announced HomePath Financing Changes!
- 09/22/12 03:02 PM
Breaking News Fannie Mae announced HomePath Financing Changes. Fannie Mae announced that HomePath Mortgage which is currently available to low to middle income first time buyers will be allowing Investor financing to purchase Fannie Mae owned properties. This new Mortgage Product will allow eligible individual and LLC borrowers to finance up to 20 properties using the Homepath Mortgage products. Fannie Mae will offer flexible terms as well as they will not require appraisals http://www.homepath.com/ HomePath Renovation Mortgage is also available and will allow a buyer to purchase a property that requires light to moderate renovation. The one loan amount includes both … (34 comments)
According to the Associated Press the Federal Government submitted a number of lawsuits. Quietly under the radar the Government sued 17 financial firms which included many of the largest US Banks. The Lawsuits were filed this past Friday before the long Labor Day weekend, by the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac. The 17 institutions affected by this lawsuit are in alphabetic order: Ally Financial Inc (formerly known as GMAC), Bank of America, Barclays Bank, Citigroup Inc, Countrywide Financial … (10 comments)
fannie mae: Did you know that more than half of the homes sold in 2009 were Short Sales or REO's?
- 04/02/10 03:31 PM
Recently I was reading about a very telling statistic. The California Association of Realtors has published that more than 50% of all first-time homebuyers sales were either short sales or foreclosure transactions. These short sales presented many first time buyers with great opportunities. To be able to step into the market which a few years ago looked like an impossible event? The buyers see many benefits to purchase a short sale. (As a Realtor who is in Escrow now for ten months on a short sale, I have a different perspective). Patience is an absolute necessity, for all parties, buyers, sellers, … (63 comments)
fannie mae: What is a GSE and why do you as a Consumer, Realtor and Mortgage Broker should care what they are doing?
- 12/21/08 06:00 PM
I was reading, recently in one of my internet browsing, that the GSE's are considering allowing some borrower to refinance without the use of an updated appraisal. WOW, that has scared the daylights out of me. So if you do not know what a GSE is let me explain. They are a hybrid form of a Corporation, designed to take privately provided capital to develop public missions. That means they do not use any tax payer money, nor do they have government guarantees to their securities. They surfaced in 2003 and 2004 on the radar screen, for being in the news … (7 comments)
Did you hear that Fannie Mae & Freddie Mac are preventing home buying in the Greater Los Angeles area?
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