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fannie mae: Are you losing money. Seller paid closing costs and the maximum for investment homes. - 03/19/12 05:21 PM
Hello,
I am seeing many investment home purchase deals with seller paid closing costs exceeding the maximum amount and this is lost money for a purchaser. If you are buying an investment home right now, you, as the borrower/investor, must know the maximum that Fannie Mae and Freddie Mac allows is 2% seller paid closing costs, regardless of down payment amount.
For example, if your agent advises asking for 3% and the seller agrees, Fannie Mae will only allow 2% and the seller keeps the left over 1%. This is lost money. You are better to get more aggressive on price and only ask … (3 comments)

fannie mae: Mortgage rates trends and information for February 18, 2011. (Ginnie and Fannie) - 02/18/11 01:15 PM
Good Morning... On Thursday, current coupon mortgages finished little changed versus swaps while both higher and lower coupon mortgages outperformed.  At the close, FNCL (30yr) 4.5s in March were +8/32 (101-03) and the FNCI (15yr) 4.0s in March were +7/32 (102-02+).  In agency swaps, Ginnie/Fannie swaps continued their move higher yesterday in response to the same dynamics that have been in play all week (limited supply and the prospect of slower prepay speeds going forward).  Right now, the Ginnie/Fannie 5.0% swap is trading +44/32nds up 6/32nds from a week ago. Flows from originators totaled about $1.25bln yesterday, which is in line with the … (0 comments)

 
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Jason Schweiger

Auburn, WA

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Network Funding LP

Address: Auburn, WA, 98001

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Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.


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