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kris krajecki: NEW FHA LOAN LIMITS UP TO $730,000!!!! - 01/26/08 10:12 AM
As part of the economic stimulus package being negotiated by House Democratsand the Treasury Department, Fannie and Freddie loan limits will increasedfor one year up to $730,000. The increase will be adjusted for local marketsat 125% of local median home price. The move will significantly improveliquidity and pricing in the jumbo market. The agreement also includesraising the FHA loan limits to the same amount. We are trying to confirmwhether the other provisions of FHA reform will be included (such aslowering downpayment requirements). But at a minimum, the loan limits willbe increased.This represents an agreement in principle and must still go through … (8 comments)

kris krajecki: AWESOME FHA NEWS!!! NEW HIGHER LIMITS!!! - 01/26/08 10:09 AM
As part of the economic stimulus package being negotiated by House Democratsand the Treasury Department, Fannie and Freddie loan limits will increasedfor one year up to $730,000. The increase will be adjusted for local marketsat 125% of local median home price. The move will significantly improveliquidity and pricing in the jumbo market. The agreement also includesraising the FHA loan limits to the same amount. We are trying to confirmwhether the other provisions of FHA reform will be included (such aslowering downpayment requirements). But at a minimum, the loan limits willbe increased.This represents an agreement in principle and must still go through … (0 comments)

kris krajecki: Countrywide New "Soft Market" Policy Changes - 01/26/08 10:07 AM
I recieved this e-mail and thought I'd pass it along...
Looks like teh declining housing market is here to stay for awile....and the lenders know it!
As you are well aware, 2008 is forecasted to be a challenging year for the mortgage industry, characterized by a declining Housing Price Index in a wide variety of metropolitan markets. In the context of the prominent threat to our industry of collateral values falling below outstanding loan balances, mortgage professionals must strive to ensure that borrowers do not take on loans that they do not have the ability or economic interest to repay. Because of these … (7 comments)

kris krajecki: Fed Cuts The rate .75 Percentage Point! - 01/22/08 09:08 AM
The Federal Reserve lowered its benchmark interest rate in an emergency move for the first time since 2001 after stock markets tumbled from Hong Kong to London and the U.S. economy showed increasing signs that it's headed into a recession. The central bank cut the target overnight lending rate to 3.5 percent from 4.25 percent
(I was guessing 1/2)  :-)
Policy makers weren't even scheduled to gather until next week! It's the biggest single reduction since the Fed began using the rate as the principal tool of monetary policy around 1990.
… (0 comments)

 

Kris Krajecki Mortgage Broker Huntley, IL

Huntley, IL

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Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

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