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fha: Lender list now up to 311 Lenders........ - 12/13/08 02:22 PM
12/12/08 Here's the updated list from Mortgage Implode (www.ml-implode).
Sad to think of all of the people that these lenders closings effects...... and what a ripple effect it has (title, appraisers, the paper guy, coffee guy, the restaurant next door, etc).
"Imploded" lenders: The "imploded" status is somewhat subjective and does not … (0 comments)

fha: Reminder: FHA Down Payment Changes 01/01/09 - 12/07/08 10:28 AM
Don't forget-because it's just around the corner, that FHA down payment changes go into effect on January 1st.  The changes will be.....
Down payment minimum of 3.5%.  Currently it is 3% total but in most areas it is 2.25% down with .75% being able to come from closing costs.  Not anymore.....now … (1 comments)

fha: 1/1/09 Twin Cities FHA loan Limit decrease ...... - 11/19/08 02:55 PM
Twin Cities Area!
Our FHA loan limits for a 1 unit home is currently $365,000 but effective 1/1/09, they will be dropping down to $318,550.
FHA is still a great program which is insuring most of the riskier, over 80% mortgage paper currently.
If you have a buyer looking in/around the $400k range, … (0 comments)

fha: Oh Oh now the Bond Programs in danger! - 10/16/08 10:08 AM
We know that the bond programs are the only source of down payment assistance in many areas.   None of the new bond programs have been able to begin because there are no buyers for these bonds.For most of the 2000's, Fannie Mae and Freddie Mac were the major or only buyers … (1 comments)

fha: FHA- Not the reason you are thinking but, the new BIG advantage for YOU - 09/26/08 10:15 AM
With about 70% of mortgages currently going through FHA, what will happen in a couple of years (or even now) for mortgage lenders when it's time to sell these homes?  Realtors-listen up, if you are doing your homework, this is an opportunity to make your listings stand out for you!
Here's … (5 comments)

fha: Please help try to save the Down Payment Assistance Programs! - 07/28/08 09:30 AM
Going away OCTOBER 1st.......
I think it's going away this time-which will deal yet another blow to people who can't afford a down payment (especially minority lending).  If FHA comes out with a 100% loan, it may be fine but, in this environment I think bringing out this kind of product … (2 comments)

fha: Gift programs appear safe! - 03/07/08 02:55 PM
Below is a letter we received today from Scott Syphax , President & CEO Nehemiah Corporation of America regarding the court battle over the various gift programs that many of us utilize.  These programs assist our clients in getting into a home by providing a non-profit gift to the buyer that is funded to the non-profit … (2 comments)

fha: MORTGAGE WARNING! Pricing changes coming! Realtors this effects you as well! - 11/27/07 01:07 PM
This will indeed suck for everyone!  Be ready because it's coming, Fannie and Freddie are implementing this so, in order for the lenders to make these loans saleable, they will have to utilize these add ons.
IMPORTANT !!!!!!!
FannieMae and FreddieMac have recently issued changes to loan level pricing adjustments that will … (5 comments)

 
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Michael Schindler

Prescott, WI

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