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fnma: FHA loan limit is going to be raised to 417k... - 10/09/08 10:14 AM
10/02/2008 - "This morning, FHA Commissioner Brian Montgomery announced that the new HECM nationwide loan limit (maximum claim amount) will be $417,000. The target effective date is November 1"This is a target date right now, not a set deadline. We still expect FHA to increase the "floor" on the origination fee from $2,000 to $2,500. A mortgagee letter will be published shortly that provides additional details.There was some debate within HUD to consider area limits at 115% of area median home value, with a floor of $417,000 and a cap of $625,500. Ultimately, the interpretation was determined that the new legislation … (1 comments)

fnma: I am a newbie to this forum... - 07/17/08 11:33 AM
Hello All,
I am here to help with any and all mortgage questions.  Rates have been wild as of late.  Today they are hovering right around 6.375...  We usually can get an indicator of  rate from the 10 year Note but it is been all over the place and the yield is huge so we are finding no help there...  The tow biggest lenders FNMA and FMAC sold 3 billion in bonds to day and it help to rally wall street and push bank stocks up to new highs.  Still a lot of worry in the market and financing new homes is still … (10 comments)

 

Nathan Goodman

Bozeman, MT

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Guild Mortgage Company

Address: 1925 N. 22nd Ave. Ste. 103, Bozeman, MT, 59715

Office Phone: (406) 522-8800

Cell Phone: (406) 580-0149

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