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fannie mae: VA Loans: Pros & Cons - 10/26/11 03:55 AM
If you’re a qualifying veteran or service member, a VA mortgage can be a great deal. VA mortgages offer a lot of benefits, including being one of the few 100% financing options available. There are however, certain situations where you may be better off going with a FHA mortgage or a conventional loan backed by Fannie Mae or Freddie Mac.
Pros of a VA home loan
The government guarantees at least one-quarter of the loan amount on a VA mortgage, which is why you don’t need to put up a down payment. It’s also why you don’t have to buy mortgage insurance, which is … (0 comments)
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fannie mae: THE H.R. 600: Finally a law that makes sense - 08/26/10 07:12 AM
And this has now been proven to be a complete failure. Once the government steps in to bail out the loans, they are spending money that is expected to be repaid immediately as it is government money. The result of this is the higher taxes that customers will have to pay every time they have a transaction to buy a house. It also does not help that the government made mandates that actually made getting a loan to buy a home more complicated and difficult.
If you have been reading my blogs lately, you have been reading all the complaints about … (0 comments)
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fannie mae: THE HVCC : The Thorn in our midst - 06/07/10 09:07 AM
Whenever a member of the real estate community ever hears the term HVCC, every mortgage broker, agent, appraiser and lending firm can't help but feel a shudder as a sense of dread somehow grips them. The HVCC, which ironically stands for Home Valuation Code of Conduct, was meant to help the mortgage industry survive the real estate crisis and clean up how it does and conducts business. Instead, as we later found out, this initiative bound the mortgage industry by one hand, ruining businesses for small lending firms, probably sent people out of their jobs and worse, made life a whole … (2 comments)
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fannie mae: Does Fannie Mae and Freddie Mac deserve more credit from Uncle Sam - 05/16/10 11:00 AM
When we woke up to the news that Fannie Mae and Freddie Mac, the two largest government sponsored mortgage institutions still need more government bail out despite the fact that they already received 145 billion dollars last year, more than any other institution in the country, the debate began on whether these two headache inducing firms should get more money or should just be turned over to the private sector.
Here are certain facts that would make either two options a really difficult one to consider.
For the past 80 years, both Fannie Mae and Freddie Mac held a veritible monopoly … (1 comments)
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fannie mae: Georgia & Florida Labeled Declining Markets - 02/19/08 09:52 AM
Georgia & Florida Labeled Declining Markets
March 3, 2008 Fannie Mae will expand their list of geographical areas considered "Declining Markets" So what does this mean for potential borrowers?
In a recent Fannie Mae memo: If the subject property is determined to be in a declining market, the maximum LTV/CLTV must be restricted by at least 5% less than the maximum allowed for the transaction. All loans are subject to underwriting approval and additional conditions may need to be met with a loan in a declining market. Please keep in mind that transactions located in (several states including Georgia and Florida) will … (3 comments)
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fannie mae: FANNIE MAE Risk-based Pricing is now a Reality - 12/14/07 12:20 PM
Borrowers with FICO's under 680 will get hit with huge price adjustments.
We can still honor the old pricing through 12/31/07.
PLEASE URGE YOUR BORROWERS WITH WEAK CREDIT TO LOCK IN NOW!
• In response to market conditions, Fannie Mae issued Announcement 07-16, implementing new loan-level price adjustments (LLPAs) that will affect all agency-eligible mortgage loans with the following risk characteristics:
Certain LTV/FICO Score combinations Subordinate financing with certain LTVs/CLTVs/FICO Score combinations for both fully amortizing and interest-only loans Two-unit properties
The new adjustments below will be effective with all loans locked on or after Wednesday, December 12th, 2007. Please review your pipeline today for … (0 comments)
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fannie mae: Mortgage Market Meltdown - What it Means to You - 08/14/07 11:19 PM
I have given this seminar to several of my realtor's offices and I would be happy to do the same in yours.
The credit markets are in crisis, and the mortgage landscape is changing fast.
But, ask yourself this…
Do you understand the key factors that led to the crisis?
Can you clearly and confidently advise your buyers and sellers on how to succeed in today's market? Do you have the right systems in place to adjust your business model for the changes yet to come?
If you answered “No” to any of these questions, you should attend this exclusive Mortgage … (2 comments)
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fannie mae: Q&A: Stephen, I hear on the financial news, almost everyday, that the mortgage industry is in big trouble. They say it’s a “liquidity” problem. What does that mean? Are people soon not going to be able to get mortgages? - 08/12/07 11:52 PM
Few mortgages are actually held by the bank or the company that funds them. Over the past ten to fifteen years, investors on Wall Street have increased their appetite for higher yield products. With this appetite grew a desire for riskier loans that companies package and sell in pools known as mortgage-backed securities. MBS’s are sold on the open market and are traded much like any other bond, with the expectation that people with mortgages will pay monthly on their obligations, netting an expected yield for the end investor.
As investors realized these loans were not performing, they lost their … (1 comments)
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Stephen Katz
Atlanta,
GA
More about me…
Katz Mortgage Team, a branch of VanDyk Mortgage Corporation
Address: 800 Johnson Ferry Road, Atlanta, GA, 30342
Office Phone: (866) 742-8400
Cell Phone: (770) 552-1000
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